Over-Allotment Options

Reed International PLC
Elsevier NV
30 November 2000


ANNOUNCEMENT OF EXERCISE OF OVER-ALLOTMENT OPTIONS

Reed  International P.L.C. ('Reed International') and Elsevier NV ('Elsevier')
announce that the over-allotment options they had granted ABN AMRO Rothschild,
Cazenove  &  Co  and  Morgan  Stanley  Dean  Witter  in  connection  with  the
international  offering announced on 29 November 2000, to purchase  up  to  an
additional  14.83  million  Reed International  new  ordinary  shares  and  an
additional 8.65 million Elsevier new ordinary shares were exercised in full on
30 November 2000.

In connection with the International Offering Reed International has therefore
issued  a  total of 113,700,000 new ordinary shares and Elsevier has issued  a
total of 66,255,000 new ordinary shares.

The  exercise  of  the  over-allotment options have  raised  additional  gross
proceeds of approximately £169 million. ($241 million) (EUR277 million).