Director/PDMR Shareholding

ISSUED ON BEHALF OF REED ELSEVIER PLC ("RE PLC")

AND REED ELSEVIER NV ("RE NV")

8 November 2013

Director/PDMR Shareholding

Erik Engstrom, Chief Executive Officer

Reed Elsevier announces that on 7 November 2013, Mr Erik Engstrom, a Director of Reed Elsevier, exercised share options as set out below. Subsequently, 103,412 of the ordinary RE NV shares acquired upon exercise and 150,517 of the ordinary RE PLC shares acquired upon exercise were sold at €15.2771 per share and 877.3643 pence per share respectively. The remaining shares were retained.

Stock Date of grant No. of options Option price

RE NV 17/02/2005 105,412 €11.31

RE PLC 17/02/2005 154,517 533.50p

As a result of Mr Engstrom's transactions, his current interest in the share capital of Reed Elsevier is:

114,553 Reed Elsevier PLC ordinary shares; and

513,766 Reed Elsevier NV ordinary shares.

Ian Fraser, Global Human Resources Director

Reed Elsevier also announces that on 7 November 2013, Mr Ian Fraser, a PDMR of Reed Elsevier, exercised share options as set out below. All of the ordinary shares acquired upon exercise were sold at the prices shown below.

Stock Date of grant No. of options Option price Sale price

RE NV 21/02/2008 34,500 €12.21 €15.118441

RE NV 26/05/2010 29,244 €8.31 €15.011778

RE PLC 15/02/2007 48,072 644.50p 875.2674p

RE PLC 21/02/2008 53,000 627.50p 870.3826p

RE PLC 26/05/2010 44,533 466.50p 870.8096p