ADDITIONAL INFORMATION FOR US INVESTORS > REED ELSEVIER PLC Summary financial information in US dollars Basis of preparation Consolidated profit and loss account Consolidated balance sheet The summary financial information is a simple translation of Reed Elsevier PLC’s consolidated financial statements into US dollars at the stated rates of exchange. The financial information provided below is prepared under UK GAAP as used in the preparation of the Reed Elsevier PLC consolidated financial statements. It does not represent a restatement under US GAAP which would be different in some significant respects. Adjusted earnings per American Depositary Share is based on Reed Elsevier PLC shareholders’ 52.9% share of the adjusted profit attributable of the Reed Elsevier combined businesses, which excludes amortisation of goodwill and intangible assets and exceptional items. Adjusted figures are described in note 9 to the Reed Elsevier PLC consolidated financial statements. Reed Elsevier PLC shares are quoted on the New York Stock Exchange and trading is in the form of American Depositary Shares (“ADSs”), evidenced by American Depositary Receipts (“ADRs”), representing four Reed Elsevier PLC ordinary shares of 12.5p each. (CUSIP No. 758205108; trading symbol, RUK; Bank of New York is the ADS Depositary.) As at 31 December 2003 2003 2002 US$m US$m Shareholders’ funds 2,293 2,235 2003 2002 US$ US$ Earnings per American Depositary Share based on 52.9% interest in Reed Elsevier combined businesses Adjusted $2.03 $1.71 Basic  $0.91 $0.46 Net dividend per American Depositary Share $0.78 $0.67 For the year ended 31 December 2003 2003 2002 US$m US$m Profit attributable to ordinary shareholders: statutory 275 134 Profit attributable to 52.9% interest in Reed Elsevier combined businesses Adjusted profit attributable 642 542 Amortisation of goodwill and intangible assets (386) (407) Exceptional items 33 9 289 144 2003 2002 Profit and loss  1.63 1.50 Balance sheet 1.78 1.60 Exchange rates for translation of sterling ($:£1) Data per American Depositary Share REED ELSEVIER ANNUAL REPORTS & FINANCIAL STATEMENTS 2003 111