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REL: Reed Elsevier: Announcement of Non-Discretionary Share Buyback Programme

  REL: Reed Elsevier: Announcement of Non-Discretionary Share Buyback
  Programme

UK Regulatory Announcement

LONDON

                                                              28 December 2012

Reed Elsevier PLC and Reed Elsevier NV (the “Companies”) announce that they
will each commence an irrevocable, non-discretionary programme to repurchase
their respective ordinary shares up to the value of £100 million in total
based on a number of disposals which are well progressed. The programme will
commence on 31 December 2012 and end on 27 February 2013, running through the
next close period of the Companies which commences on 1 January 2013 and ends
at the time of the announcement of Reed Elsevier’s full-year results on 28
February 2013. The ratio of the respective ordinary shares to be bought back
by each of the Companies over the course of this period will be set by
reference to the equalisation ratio and their respective issued share capital.
The Companies intend that shares purchased will be held in treasury.

Any acquisitions will be made on behalf of the Companies within certain
pre-set parameters and in accordance with the general authorities of the
Companies to repurchase shares. In addition, any acquisitions effected by Reed
Elsevier PLC will be in accordance with Chapter 12 of the Listing Rules and
any acquisitions effected by Reed Elsevier NV will be in accordance with the
EU’s Buy-back and Stabilisation Regulation.

                                   - ENDS -

Enquiries
Colin Tennant (Investors)
Tel : +44 (0)7824 520946

Paul Abrahams (Media)
Tel : +44 (0) 20 7166 5724

Notes to editors

About Reed Elsevier

Reed Elsevier Group plc is a world leading provider of professional
information solutions to the science, medical, legal, risk management, and
business to business sectors. Reed Elsevier Group plc is owned equally by two
parent companies, Reed Elsevier PLC and Reed Elsevier NV. Their shares are
traded on the London, Amsterdam and New York Stock Exchanges using the
following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL.
Reed Elsevier Capital Inc. is a wholly-owned indirect subsidiary of Reed
Elsevier Group plc whose sole business is related to the issuance and payment
of securities which are guaranteed by Reed Elsevier PLC and Reed Elsevier NV.

          ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV

Contact:

Reed Elsevier
 
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