Director Shareholding

Reed International PLC
Elsevier NV
2 March 2001


LETTER TO COMPANY ANNOUNCEMENTS OFFICE

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

1. A Prozes, a director of Reed International PLC, purchased 2,4335 American
   Depositary Shares in Elsevier NV at US$27.8978 per ADS on 27 February 2001
   and 2,100 American Depositary Shares in Elsevier NV at US$29.11 per ADS on
   1 March 2001.  Each Elsevier ADS represents two Elsevier ordinary shares.

   As a consequence of the above transactions, Mr Prozes now holds an interest 
   in 23,160 Reed International ordinary shares and 16,320 Elsevier ordinary
   shares.
   
2. D J Haank, a director of Reed International P.L.C. and Elsevier NV, exercised
   an option over 35,000 Elsevier NV ordinary shares at an option price of 
   E11.93 per share on 1 March 2001.

   Mr Haank sold 27,000 Elsevier NV ordinary shares on the same day at a price
   of E15.35 per share, in order to meet the cost of exercising the above       
   option. He retained the remaining 8,000 Elsevier NV ordinary shares

   As a consequence of the above transactions, Mr Haank now holds an interest
   in 18,880 Elsevier ordinary shares.

FROM REED ELSEVIER