Director Shareholding

Reed Elsevier PLC
12 August 2004







12 August 2004







           Issued on behalf of Reed Elsevier PLC and Reed Elsevier NV





                             DIRECTOR SHAREHOLDING



We have received notification today of the following sale of securities in Reed
Elsevier PLC by Mr A Prozes, a director of Reed Elsevier PLC and Reed Elsevier
NV.


6,500 ADRs (representing 26,000 Reed Elsevier PLC ordinary shares) were sold
between 9 and 10 August 2004 at an average price of US$35.46 per ADR.


Mr Prozes is selling the above shares as a consequence of his divorce
settlement.  Following the transaction, Mr Prozes still holds an interest in
76,808 Reed Elsevier PLC ordinary shares and 63,454 Reed Elsevier NV ordinary
shares.






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