Elsevier response to its financial statement

[Ann Okerson <aokerson@pantheon.yale.edu>]

Date: Mon, 31 Mar 2003 16:17:14 +0100
From: "Menefee, Daviess (ELS)" <D.Menefee@elsevier.com>
Subject: Elsevier response to its financial statement

Dear Readers,

Anyone interested in the facts about the financial statement of Elsevier
or Reed Elsevier will find the correct information at this URL:
<http://www.reedelsevier.com>.  There is both an overview from Reed
Elsevier's CEO Crispin Davis as well as information in a variety of
formats containing both operating data and financial reviews.

>From this information it is clear that increased revenue for the company
came mainly from the acquisition of Harcourt and not from price increases
as has been suggested on this list.

Five years ago, Elsevier committed to ensuring that price increases for
its journals would not exceed 10% in any given year, regardless of foreign
currency fluctuations and other factors such as inflation.  Elsevier
stands by this promise and continues to maintain its journal price
increases at below double-digit levels.

Kind regards,
Daviess Menefee
Library Relations