Reed Elsevier PLC
08 May 2003
NEWS RELEASE
Issued on behalf of Reed Elsevier PLC and Reed Elsevier NV
8 May 2003
REED ELSEVIER'S LEXISNEXIS SELLS LEXISNEXIS DOCUMENT SOLUTIONS
Reed Elsevier Group plc announced today that its global legal division,
LexisNexis, had entered into a definitive agreement to sell, LexisNexis Document
Solutions (LNDS) to Corporation Service Company (CSC). The decision to sell
LNDS has been taken as it no longer fits within the online growth strategy of
LexisNexis.
LNDS, which operates within the United States, provides Uniform Commercial Code
filings and searches primarily to register equipment and capital goods for
collateral and lending purposes. It also handles corporate registration and
motor vehicle title filings and provides registered agent services to US
corporations. In the year to 31 December 2002, LNDS had revenues of $68
million.
CSC is a leading provider of administrative legal services to Fortune 500
companies and law firms in the US
Ends
For media enquiries contact:
Catherine May, Reed Elsevier, tel +44 (0)20 7222 8420
Notes to Editors
Reed Elsevier
Reed Elsevier Group plc is a world leading publisher and information provider.
It is owned equally by its two parent companies, Reed Elsevier PLC and Reed
Elsevier NV. The parent companies are listed on the London, Amsterdam and New
York Stock Exchanges, under the following ticker symbols: London: REED;
Amsterdam: ELSN; New York: RUK, ENL. In 2002, Reed Elsevier made adjusted
profit before taxation of £927 million (€1,474million) on turnover of £5,020
million (€7,982 million). The group employs 36,000 people, including
approximately 22,000 in North America. Operating in the scientific, legal,
educational and business-to-business sectors, Reed Elsevier provides high value
and flexible information solutions to professional end users, with increasing
emphasis on internet delivery. For further information, please visit the
company website www.reedelsevier.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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