Wolters KluwerFull Year Results 2000Rob Pieterse

1. Wolters Kluwer Full Year Results 2000 Rob Pieterse, Chairman of the Executive Board Analysts & Investors, March/April 2001

2. HIGHLIGHTS • Results on target in an eventful year • Successful new product development: EUR 228 million Internet sales • More focus on combining content with software & services • Cluster structure implemented: leveraging assets, people and products • Focus on creating conditions for sustainable double-digit growth • Portfolio review • Outlook for 2001: Ordinary Net Profit before Amortization of Goodwill up approximately 5% Focus on Growing Differently

3. SUMMARY FIGURES 2000 • Double-digit sales growth, up 19% (+12% @ constant rates) • Organic sales growth at 5%, in line with last year • Almost fivefold increase of profitable Internet sales • Healthy flow of acquisitions, increasingly focused on software and service companies • EBITA growth +7% (-2% @ constant rates) • Additional (Internet) product development investment: EUR 47 million • Reorganization provisions: EUR 60 million • Excluding these items EBITA +16% (+7% @ constant rates) • All clusters showed double-digit growth, except LTB Europe • LTB Europe strongly improved in 2nd half • Ordinary net income before amortization of goodwill in line with forecast, at EUR 412 million (1999: EUR 410 million)

4. RESULTS 2000

5. BREAKDOWN OF GROWTH Sales EBITA 2000 1999 2000 1999* Organic 5% 5% 0% 6% Reorganization Provisions Internet -- -- -- -- (4%) (5%) (5%) (1%) Sub-total Acquisitions 5% 8% 5% 9% (9%) 8% 0% 9% Divestments (1%) (4%) (1%) (1%) At constant rates 12% 10% (2%) 8% Currency 7% 2% 9% 2% Total 19% 12% 7% 10% * 1999 Restated for book profit on trade books divestment

6. SUCCESSFUL ACQUISITION PROGRAM • 37 transactions: Annualized sales EUR 211 million • Stronger focus on software tools: More than one third of acquisitions are software tool companies • High growth properties: Generally software companies have high organic growth; margins at least in line with Wolters Kluwer average • Numerous affordable opportunities: Large pool of small and medium sized companies with strategic fit; multiples in line with traditional prices Increasingly High Growth Software Tool Companies

7. CREATING CONDITIONS FOR SUSTAINABLE DOUBLE-DIGIT GROWTH • Successful new product development: Earlier investments paying off; EUR 228 million of profitable Internet sales • Investment stepped up: Additional (Internet) product development investment in 2000 of EUR 47 million; will more than double to around EUR 100 million in 2001 • New managerial talentAppointment of significant number of (new) entrepreneurial, execution focused managers • Reorganizations: Significant number of operations in LTB Europe and Education being reorganized to improve efficiency, quality and competitive power • Traditional media strong footholdTraditional media formats remain strong performers; good base for leveraging content with software and services Existing Base Stepping Stone for Extension of Business

8. STRATEGIC FOUNDATIONS: FIVE BUSINESS PRINCIPLES • Portfolio review: Reassessment at all levels of the company’s portfolio, with a view to directing resources towards the best growth opportunities • ‘Smart’ information tools: Investing in integration of content with software and services • Fostering entrepreneurship: Creating the conditions and culture for entrepreneurial approach fuelling future growth • Operational excellence: Quality improvement in the broadest sense • Leveraging scale: Capitalizing on the company’s worldwide scale

9. PORTFOLIO REVIEW • Significant, sustainable organic growth potential • Characteristics:- B-to-B- Focus on regulatory/compliance need- Need-to-have- Workflow related • Size and scope:- Potential to achieve #1 or #2 position- Possibility to leverage internationally - Scale: ability to standardize Results of Review Expected During Course of 2001

10. LEGAL, TAX & BUSINESS EUROPE: HY2 Improvement on Restructuring Measures • Strong performances in France and Italy, and at Teleroute.com and JobNews.nl • Results ten Hagen & Stam (NL) showed strong recovery in HY2 to break-even • Reorganization charge (EUR 34 million) and additional (Internet) product development spending (EUR 18 million) impact on EBITA • CEO operational as of 1 January 2001, portfolio review under way • Reorganizations announced/started in Netherlands, Belgium, Spain, and UK aimed at improving efficiency, quality and competitive power Priority 2001:Focus Resources on Growth Areas

11. LEGAL, TAX & BUSINESS NORTH AMERICA: New Product Success; Strong Growth Internet • Strong organic growth at LIS and Aspen Publishers • Acquisition Bankers Systems (1999) performed above expectation • Tax Research Network achieved great market acceptance • LoisLaw acquired to further develop segment of small & medium sized legal firms • Additional (Internet) product development investment: EUR 12 million Priority 2001: Extend Leading Market Position into Software Tools and Services

12. LEGAL, TAX & BUSINESS ASIA PACIFIC: Strong Efficiency Improvement • Improved cost control and efficiency drives margin enhancement • Strong organic growth in Asia: Malaysia, Singapore and Hong Kong • Acquisition of (stakes in) workflow software companies: MAUS, EBC, LawNow Priority 2001: Further Expansion into Asia

13. INTERNATIONAL HEALTH & SCIENCE: Strong Sales Growth Reported • Strong organic sales growth at Adis, Ovid Technologies, Facts & Comparisons • Acquisition of Springhouse creates leading position in US nursing market • Kluwer Academic Publishers shows healthy organic sales growth • EBITA impacted by additional (Internet) product development spending of EUR 13 million Priority 2001: Acceleration of Electronic Delivery of Content and Software Tools

14. EDUCATION: Good Progress Cluster Integration • Strong performance in Netherlands, Belgium and Hungary • No. 2 position in UK established with acquisition of Thomas Nelson • Reorganization Germany progressing, further reorganizations planned, all aimed at improving competitive strength and efficiency of operations Priority 2001: Expand E-learning Activities

15. CASH FLOW STATEMENT

16. OUTLOOK 2001: Confident to Achieve ± 5% Increase Benchmark Profit; Almost Recession Proof • Additional investment EUR 100 million:Fully expensed additional (Internet) product development investment will more than double to EUR 100 million • Benchmark profit up approximately 5%Ordinary net income before amortization of goodwill to increase approximately 5% @ constant currency • Growth in 2nd halfGrowth weighted towards second half of 2001 due to phasing effect of additional (Internet) product development investments • Book profit from divestmentSubstantial book profit to be realized from the anticipated divestment of remaining Professional Training companies

17. MEDIUM TERM TARGETS • Tools & ServicesExtension of leading positions proprietary content towards complementary productivity tools and services in existing markets, in line with customer demand • Expand market shareLeveraging current positions in growing markets to expand product line and market share • Entry new business areasPursuance of acquisitions that support growth and entry into new business areas that fit strategic requirements • Operational excellenceIncrease focus on operational excellence • EntrepreneurshipFostering entrepreneurship and controlled risk taking • InternetCompletion additional (Internet) product development program • RevitalizationThroughout organization, including reorganizations in Europe

18. SUMMARY • Results on target in an eventful year • Successful new product development: EUR 228 million Internet sales • More focus on combining content with software & services • Cluster structure implemented: leveraging assets, people and products • Focus on creating conditions for sustainable double-digit growth • Portfolio review • Outlook for 2001: Ordinary Net Profit before Amortization of Goodwill up approximately 5% Focus on Growing Differently

19. Appendices

20. CHARACTERISTICS OF BUSINESS • Growth orientedDouble-digit sales growth in each of past five years; sales tripled since 1994. • Geographic diversificationBusiness is geographically balanced with activities in three continents. • Local play, global leverageOften local information markets served by local operating companies, yet capitalizing on global scale. • Focus on professionalsClearly defined portfolio, fully focused on professional customer groups. • Need-To-KnowThe company has a strong base of proprietary and copyrighted content and tools (approx. 75% of sales) that are crucial (need-to-know) for professionals in their work. • Strong subscription baseMore than 50% of sales is subscription based (prepaid), and we have established a loyal customer base • Well-established brandsWe own some of the oldest and longest established, and most respected brands in our markets that represent core values such as authority, quality, reliability and trust. • Recession proofStrong subscription base, need-to-have services, low dependency on advertising

21. ‘SMART’ INFORMATION TOOLS • Focus investment on smart information tools:Leverage content with software and services • Smart: Adding intelligence; comments, indexing, linking, customization, software functionality • Information: Content and knowledge about a specific field (tax, medicine, law etc.) is embedded in all products and services • Tools: ‘Something regarded as necessary to the carrying out of one's occupation or profession’; essential Extend Leading Content Positions into Software Tools and Services

22. ACQUISITIONS • Shift towards software • Approximately 1/3 of acquisitions in 2000 were software tool companies, such as: KnowledgePoint, Atres Software, Sistemi, FDS Tax Point , A-plus Software

23. MOST IMPORTANT ACQUISITIONS IN 2000 (a)

24. MOST IMPORTANT ACQUISITIONS IN 2000 (b)

25. PORTFOLIO BREAKDOWN: Sales by Media

26. PORTFOLIO BREAKDOWN: Strong Growth Electronic Sales Overview Internet sales EUR m % of cluster LTB Europe 46 3.5% LTB North America 109 9.9% International Health and Science 66 8.7% Education 72.1% 228 6.2%

27. PORTFOLIO BREAKDOWN: Healthy Print Base

28. ADDITIONAL (INTERNET) PRODUCT DEVELOPMENT INVESTMENTS

29. BREAKDOWN REORGANIZATION PROVISIONS

30. CLUSTER BREAKDOWN SALES 2000

31. CLUSTER BREAKDOWN EBITA 2000

32. BREAKDOWN SALES GROWTH 2000

33. BREAKDOWN EBITA GROWTH 2000

34. WORKING CAPITAL DEVELOPMENT Analysis of contribution to (or absorption of) cash flow

35. CONSOLIDATED BALANCE SHEET

36. LEVERAGING KEY PROPRIETARY ASSETS IN AREAS OF CONTENT, SOFTWARE, AND SERVICES & INTERSECTION Software Tax software, e.g. KlubasDecisions Support Systems, e.g. Clineguide Online Consulting InKnowvation, Medrevu.com Content Services Software Software & Compliance Services Tax-forum, Drugfacts customized Transaction Databases FDS Advance, licensing of drugfiles, forms

37. INTERNATIONAL HEALTH & SCIENCE:Well Positioned in All Segments and Ahead of Competitors in Providing Tertiary Material High • Ovid private databases • SCP/Oracle • pharma desktop • clineanswers • medrevu.com • drugfacts.com • my nursingcenter.com • Stedmans.com • ADIS databases • Ovid On Call • Ovid/ SMS • Ovid/medweaver • LWW/Medcases • LWW Oncology.com • Addition of hyperlinks • Integration of workflow tools • Libraries of integrated content Tertiary Material • Addition of indexes • Commentaries • Expert analysis • Authored periodicals • Domain sites (eg LWWMedicine) • E-Genesis • Crossref • Ovid medline • more than 300 3rd party medical journals represented • Ovid • KluwerOnLine • LWWOnLine • E-facts • Reprints.com • more than 1,000 proprietary journals • catalog of over 40,000 books Value Added Secondary Material The collective body of journal articles/books/database entries/reviews/notes/images/video clips/charts/sounds; all linked together by topic maps and thesauri (in development)/toc/key words • Public Domain Information • Content for basic research Primary Source Material Low

38. LEGAL,TAX & BUSINESS EUROPE:Well Positioned in All Segments and Ahead of Competitors in Providing Tertiary Material High • Atres (Spain) • Jura@be (Belgium) • Tutto Lavoro Windows (Italy) • Kluwer Plaza’s (Netherlands) • AOK-line (Germany) • Lamyline (France) • Fd-centre.net (UK) • Addition of hyperlinks • Integration of workflow tools • Libraries of integrated content Tertiary Material • Addition of indexes • Commentaries • Expert analysis • Authored periodicals Value Added • Reference Book for Employers (UK) • Fiscal Tax Compliance (Belgium) • Droit de l’Environnement (France) • Lohnbüro (Germany) • Kluwer Fiscal Guide • La Legge (Italy) • Nederlands juristenblad (Netherlands) • El Diario La Ley (Spain) • Cremers (Netherlands) Secondary Material • Public Domain Information • Content for basic research • Kluwer law text books (Netherlands) • Base de Datos Legislacion (Spain) • Juridisque Cour de Cassation (France) • Employment Case Law Index (UK) • Lex (PL) • Convenios Colectivos (Spain) Primary Source Material Low

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