Director Shareholding

RNS Number:4879O
Reed Elsevier PLC
8 August 2003

To: RNS

          ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV 

We have today received notification that on 8 August 2003, Mr A Prozes, a
director of Reed Elsevier PLC and Reed Elsevier NV, exercised a nil cost option
over 20,170 ordinary shares in Reed Elsevier PLC and 14,040 ordinary shares in
Reed Elsevier NV. The option was satisfied by the transfer of shares from the
Reed Elsevier Employee Benefit Trust ("the Trust"). Mr Prozes retained all of
the shares and, as a consequence, he now holds an interest in 96,525 Reed
Elsevier PLC ordinary shares and 67,774 Reed Elsevier NV ordinary shares.

Following the above transactions, the Trust now holds an interest in 6,460,289 
Reed Elsevier PLC ordinary shares and 1,327,777 Reed Elsevier NV ordinary 
shares.

The Trust is a discretionary employee benefit trust which is operated in
conjunction with Reed Elsevier's share option schemes, and which provides for
the transfer of shares to employees on the exercise of options granted under the
said schemes. Executive directors of Reed Elsevier PLC and Reed Elsevier NV are,
for technical disclosure purposes, deemed to be interested in the shares held by
the Trust, by virtue of being potential beneficiaries under the Trust.

From: REED ELSEVIER PLC


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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