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## Operating loss 1 

Operating loss is stated after the gross remuneration for present and former directors of Reed Elsevier NV in respect of services rendered to Reed Elsevier NV and the combined businesses. Fees for members of the supervisory board of Reed Elsevier NV of € 0.2m (2002: € 0.1m) are included in gross remuneration. In so far as gross remuneration is related to services rendered to Reed Elsevier Group plc and Elsevier Reed Finance BV, it is borne by these companies. 

## Income from interests in joint ventures 2 

<img src='content_image/124675.jpg'>

## Auditors' remuneration 3 

Audit fees payable for the company were € 44,000 (2002: € 43,000). 

## Directors’ emoluments 4 

Information on directors' remuneration, share options, longer term incentive plans, pension contributions and entitlements is set out in the Directors' Remuneration Report on pages 29 to 38. 

## Net interest 5 

<img src='content_image/124677.jpg'>

## Tax on profit on ordinary activities 6 

<img src='content_image/124679.jpg'>

Dutch corporation tax has been provided at 34.5%. 

The share of tax arising in joint ventures as a proportion of the share of profit before tax is increased due to non tax-deductible amortisation and reduced due to exceptional tax credits. 

## Dividends 7 

<img src='content_image/124681.jpg'>

