Director/PDMR Shareholding

Reed Elsevier PLC
22 February 2008



           ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV



22 February 2008



                           Director/PDMR Shareholding



Reed Elsevier received notification today that the following awards were granted
to directors of Reed Elsevier PLC and Reed Elsevier NV on 21 February 2008:



(a)       Under the Reed Elsevier Group plc Share Option Scheme


Director                    No. of Reed Elsevier PLC options No. of Reed Elsevier NV options Exercisable
                            granted at  627.50p per share    granted at €12.21 per share
                                                                                             between
Sir Crispin Davis           276,000                          182,000                         2011 - 2018
Mark Armour                 144,000                          94,000                          2011 - 2018
Gerard van de Aast          134,000                          89,000                          2011 - 2018
Erik Engstrom               143,000                          94,000                          2011 - 2018
Andrew Prozes               145,000                          96,000                          2011 - 2018



Exercise of the above options is subject to a post grant performance condition,
requiring the achievement of 8% per annum compound growth in adjusted EPS
expressed at constant exchange rates, during the three years following the
grant. There is no re-testing of the performance condition.




PDMR                        No. of Reed Elsevier PLC options No. of Reed Elsevier NV options Exercisable
                            granted at  627.50p per share/   granted at €12.21per share/Nil
                            Nil cost restricted shares       cost restricted shares awarded* between/ Vesting
                            awarded*                                                         date*
Ian Fraser                  53,000                           34,500                          2011 - 2018
Nick Baker*                 6,500*                           4,200*                          2011*
Mark Popolano*              9,400*                           6,200*                          2011*

* denotes an award of restricted shares under the Executive Share Option Scheme



(b) Under the Reed Elsevier Group plc Long Term Incentive Share Option Scheme




Director                        No. of Reed Elsevier PLC nil No. of Reed Elsevier NV nil   Vesting Date
                                cost conditional shares      cost conditional shares
                                awarded                      awarded
Sir Crispin Davis               129,000                      85,000                        2011
Mark Armour                     67,000                       44,000                        2011
Gerard van de Aast              64,000                       42,000                        2011
Erik Engstrom                   68,500                       45,000                        2011
Andrew Prozes                   68,000                       44,500                        2011




PDMR                           No. of Reed Elsevier PLC nil No. of Reed Elsevier NV nil Vesting Date
                               cost conditional shares      cost conditional shares
                               awarded                      awarded
Nick Baker                     24,300                       16,000                      2011
Ian Fraser                     39,800                       26,250                      2011
Mark Popolano                  25,750                       17,000                      2011





Vesting of the above award is subject to the achievement of 12% per annum
averaged compound growth in adjusted earnings per share (EPS) at constant
currencies of Reed Elsevier PLC and Reed Elsevier NV and the achievement of
median total shareholder return (TSR) against a comparator group of seventeen
media companies, over the three year performance period 2008-2010. The actual
number of conditional shares that will vest will be determined by the
Remuneration Committee, and in accordance with the Rules of the Scheme, by
reference to the actual EPS and TSR performance over the three year performance
period. No awards will vest if EPS is below 10% per annum. If EPS is 14% per
annum and above and TSR is upper quartile and above, 189% of the award will
vest.










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