AGM Statement

Reed International PLC
9 April 2002

                                  NEWS RELEASE

         Issued on behalf of Reed International P.L.C. and Elsevier NV

                                                                    9 April 2002


Annual General Meetings of Reed International P.L.C. and Elsevier NV Chairman's
Statement

Morris Tabaksblat, Chairman of Reed International P.L.C. and Elsevier NV, told
shareholders at the Reed International Annual General Meeting in London today
that 'We were pleased to report a strong financial result for 2001 and continued
good progress in the execution of Reed Elsevier's strategy despite the very
challenging global economic environment.  The results for 2001 represent the
achievement one year earlier than planned of our stated financial goals of above
market revenue growth and double digit earnings growth at constant currencies.'

Looking at the trading performance in 2002 to date, Mr Tabaksblat commented
that:

'Overall trading conditions in our main markets have changed very little since
our 2001 Preliminary Results announcement on 21 February.  As stated then, 2002
should again see us meeting our key financial targets of above market revenue
growth and double digit adjusted earnings per share growth at constant
currencies, despite the continuing difficult economic environment.

The performance trends in Reed Elsevier's businesses are as follows:

The Science & Medical business continues to perform well and is on course for
another good year.  Subscription renewals and ScienceDirect sales are strong.
The integration of the Harcourt businesses acquired last year is going well and
we are making good progress in the development of the Health Sciences business.

The Legal business has continued the positive performance seen last year.  The
US legal business is performing well and although the corporate market has been
affected by the economic slowdown, this has been compensated by growing sales in
the risk solutions area.

In Education, the Harcourt US Schools business is only half way through the
selling cycle for the next academic year but remains confident of a good
performance.  Outside the US, the education businesses are also performing well.

In the Business division, advertising markets remain difficult with no marked
deterioration and no signs of any real recovery.  The focus continues to be on
improving market share, maintaining yields, and delivering targeted cost
savings.  The Exhibitions business is proving quite resilient despite the
economic environment.  Our best estimate remains at this stage for modest and
manageable revenue and profit decline for the year in this division.


As stated in February the overall results for the first half of 2002 are likely
to be a little lower than last year due to comparison against a strong first
half in 2001 in the Business division.  The second half should deliver the
expected growth for the year given the less demanding comparison in the Business
division and the second half weighting of sales and profits in the Harcourt
business.'


The Annual General Meeting of Elsevier, the co-parent company of Reed Elsevier
plc, will be held in Amsterdam tomorrow and Mr Tabaksblat, also Chairman of
Elsevier, will make the same comments to that meeting.


This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act 1933, as amended, and Section 21E of the
Securities Exchange Act 1934, as amended.  These statements are subject to a
number of risks and uncertainties and actual results and events could differ
materially from those currently being anticipated as reflected in such
forward-looking statements.  The terms 'expect', 'should be', 'will be', and
similar expressions identify forward-looking statements.  Factors which may
cause future outcomes to differ from those foreseen in forward-looking
statements include, but are not limited to, general economic conditions and
business conditions in Reed Elsevier's markets, customers' acceptance of its
products and services, the actions of competitors, changes in law and legal
interpretation affecting Reed Elsevier's intellectual property rights, and the
impact of technological change.


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