Director Shareholding

Reed International PLC
26 February 2002


LETTER TO COMPANY ANNOUNCEMENTS OFFICE

          ISSUED ON BEHALF OF REED INTERNATIONAL P.L.C. AND ELSEVIER NV 

                          Director Shareholding
 
We are writing to advise you that we received notifications yesterday that the
following grants of options were made to directors of Reed International P.L.C.
and Elsevier NV on 22 February 2002, under the Reed Elsevier plc Executive Share
Option Scheme:


Date of     Director         No. of Reed       No. of Elsevier      Exercisable
Grant                        International     shares over
                             shares over       which an option
                             which an option   has been granted
                             has been granted  at €13.94 per share
                             at 600p per share             

22.02.2002  C H L Davis           148,500          104,204           2005-2012
22.02.2002  M H Armour             74,000           51,926           2005-2012
22.02.2002  G J A van de Aast      58,000           40,699           2005-2012
22.02.2002  D J Haank              59,843           41,993           2005-2012
22.02.2002  A Prozes              103,722           72,783           2005-2012


 
Exercise of the above options is subject to the earnings per share performance 
conditions, as described in the company's Annual Financial Statements.

LETTER FROM REED ELSEVIER PLC




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