Holding(s) in Company

Reed Elsevier PLC
12 March 2008


TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of                    Reed Elsevier PLC
existing shares to which voting rights are attached:

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments which may result in the acquisition
of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights
                                                                                            
Other (please specify): corrective notification superseding the filing made on              Yes
11-03-08
                                                             

3. Full name of person(s) subject to                         Baillie Gifford & Co
notification obligation:

4. Full name of shareholder(s) (if
different from 3):                                              
                                                               
5. Date of transaction (and date on                             10 March 2008
which the threshold is crossed or
reached if different):                                          

6. Date on which issuer notified:                               12 March 2008    

7. Threshold(s) that is/are crossed or                              5%
reached:





8: Notified Details
A: Voting rights attached to shares


Class/type of       Situation previous to the Resulting situation after the triggering transaction
shares              triggering transaction
                    Number of    Number of    Number of    Number of voting rights Percentage of voting
If possible use     shares       voting       shares                               rights
ISIN code                        rights

                                                           Direct      Indirect    Direct       Indirect
  Ordinary Share     52,352,292   52,352,292    Below 5%                Below 5%                 Below 5%
   GB00B2B0DG97


B: Financial Instruments


Resulting situation after the triggering transaction


Type of financial    Expiration date      Exercise/ conversion No. of voting rights  Percentage of voting
instrument                                period/date          that may be acquired  rights
                                                               (if the instrument
                                                               exercised/converted)
N/A






Total (A+B)


Number of voting rights                             Percentage of voting rights
                     
Below 5%                                            Below 5%




9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively
held, if applicable:


In the narrative below, the figures in ( ) indicate the amount of voting rights and the percentage held by each
controlled undertaking where relevant.

Baillie Gifford & Co, a discretionary investment manager, is the parent undertaking of an investment management group.

Its wholly-owned subsidiary undertaking Baillie Gifford Overseas Limited (4327777; 0.4%) is also a discretionary
investment manager.

Its wholly-owned direct subsidiary undertaking Baillie Gifford Overseas Limited (13118788; 1.2%) is a life assurance
company which procures discretionary investment management services from Baillie Gifford & Co in respect of its own
account shareholdings.

Its wholly-owned indirect (via Baillie Gifford Life Limited) subsidiary undertaking Baillie Gifford & Co Limited
(1800593; 0.2%) is an OEIC Authorised Corporate Director and Unit Trust Manager which has delegated its discretionary
investment management role to Baillie Gifford & Co.








Proxy Voting:


10. Name of proxy holder:                                                    N/A


11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:












13. Additional information:                           Due to an incorrect denominator figure (attributable
                                                      to treasury shares), Baillie Gifford's percentage of
                                                      voting rights held was overstated in the filing made
                                                      on  11-03-08.  However, the number of voting rights
                                                      held (ie the numerator) remains unchanged and the
                                                      percentage of voting rights held figure has been
                                                      re-calculated and is below 5%.
14 Contact name:                                      Scott Russell

                                                      Chris Hill
15. Contact telephone name:                           0131 275 2106

                                                      0131 275 2147


B: Identity of the notifier, if applicable
Full name                                           Marsha Watson, Secretarial Assistant, Reed Elsevier
                                                    PLC

Contact address                                     1-3 Strand

                                                    London WC2N 5JR
Phone number & email                                [phone]

                                                    [e-mail]




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