Director Shareholding

Reed Elsevier PLC
9 December 2003


Letter to RNS

Director's interests

We are writing to advise you that we have today received notification of the 
following transactions in the ordinary shares of Reed Elsevier PLC and Reed 
Elsevier NV:

P Tierney, a director of Reed Elsevier PLC and Reed Elsevier NV, purchased 3,000
American Depositary Shares in Reed Elsevier PLC at US$32.667 per ADS on 5
December 2003 and 4,000 American Depositary Shares in Reed Elsevier NV at
US$24.043 per ADS on 5 December 2003.

Each Reed Elsevier PLC ADS represents four Reed Elsevier PLC ordinary shares and
each Reed Elsevier NV ADS represents two Reed Elsevier NV ordinary shares. As a
consequence, Mr Tierney holds an interest in 12,000 Reed Elsevier PLC ordinary
shares and 8,000 Reed Elsevier NV ordinary shares.

From Reed Elsevier PLC

 
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