**Exhibit
  4.10.1**

---





Back
    to Contents

|10
      February 2004
|----------------------



REUTERS
    GROUP PLC



THOMAS
    H. GLOCER



---

SERVICE
    AGREEMENT

---



---



CONTENTS


|CLAUSE | PAGE                                            
|------ | ------------------------------------------------
|       |                                                 
|1      | DEFINITIONS                                     
|       |                                                 
|2      | DURATION
      OF EMPLOYMENT                    
|       |                                                 
|3      | ROLE,
      POWERS AND DUTIES                   
|       |                                                 
|4      | NORMAL
      PLACE OF WORK                      
|       |                                                 
|5      | HOURS
      OF WORK                             
|       |                                                 
|6      | SALARY
      AND BENEFITS                       
|       |                                                 
|7      | EXPENSES                                        
|       |                                                 
|8      | OTHER
      INTERESTS                           
|       |                                                 
|9      | INVENTIONS
      AND IMPROVEMENTS               
|       |                                                 
|10.    | CONFIDENTIALITY                                 
|       |                                                 
|11.    | TERMINATION                                     
|       |                                                 
|       | Summary
      dismissal                         
|       | Termination
      by the Company through illness
|       | Termination
      by the Company without Cause  
|       | Termination
      through loss of directorship  
|       | Termination
      by you without Good Reason    
|       | Termination
      by you with Good Reason       
|       | Cessation
      Compensation                    
|       | Mitigation                                      
|       | Return
      of documents                       
|       | Resignation
      as a director                 
|       | Share
      schemes                             
|       |                                                 
|12.    | SUSPENSION                                      
|       |                                                 
|13.    | CONTINUING
      OBLIGATIONS                    
|       |                                                 
|       | Non-representation                              
|       | Non-solicitation
      of employees             
|       | Non-solicitation
      of business              
|       | Non-dealing                                     
|       | Non-competition                                 
|       | Extension
      to other persons                
|       | Acknowledgement
      of reasonableness         
|       |                                                 
|14.    | GRIEVANCE
      PROCEDURE                       

---



|15.                                                              | WAIVER                                             | 16
|---------------------------------------------------------------- | -------------------------------------------------- | --
|                                                                 |                                                    |   
|16.                                                              | AMENDMENTS                                         | 16
|                                                                 |                                                    |   
|17.                                                              | NOTICES                                            | 16
|                                                                 |                                                    |   
|18.                                                              | OTHER
        AGREEMENTS                           | 16
|                                                                 |                                                    |   
|19.                                                              | GOVERNING
        LAW                              | 17
|                                                                 |                                                    |   
|20.                                                              | WITHHOLDING
        OR DEDUCTIONS FOR TAX          | 17
|                                                                 |                                                    |   
|SCHEDULE
        1                                               | 18                                                
|                                                                 |                                                    |   
|OTHER
        BENEFITS                                           | 18                                                
|                                                                 |                                                    |   
|21.                                                              | BONUS                                              | 18
|                                                                 |                                                    |   
|22.                                                              | HOLIDAYS                                           | 18
|                                                                 |                                                    |   
|23.                                                              | PENSION
        PLANS                              | 18
|                                                                 |                                                    |   
|24.                                                              | LONG
        TERM INCENTIVE PLAN                   | 19
|                                                                 |                                                    |   
|25.                                                              | MEDICAL/DISABILITY
        INSURANCE               | 19
|                                                                 |                                                    |   
|26.                                                              | LIFE ASSURANCE                                     | 19
|                                                                 |                                                    |   
|27.                                                              | COMPANY
        CAR                                | 19
|                                                                 |                                                    |   
|28.                                                              | DIRECTORS’
        INDEMNITY
        AND INSURANCE | 19
|                                                                 |                                                    |   
|29.                                                              | OTHER
        BENEFITS                             | 20
|                                                                 |                                                    |   
|SCHEDULE
        2                                               | 22                                                
|                                                                 |                                                    |   
|COMPETING
        BUSINESS CONCERNS AS AT THE DATE OF THIS       |                                                   
|AGREEMENT                                                        | 22                                                
|                                                                 |                                                    |   
|SCHEDULE
        3                                               | 23                                                
|                                                                 |                                                    |   
|PERMITTED
        SHAREHOLDINGS AS AT THE DATE OF THIS AGREEMENT | 23                                                

---



Back to Contents

|AGREEMENTis made
      on 10 FEBRUARY 2004
|------------------------------------------

BETWEEN

|(1) | REUTERS
            GROUP PLCregistered
            in England with No. 3296375 whose registered office is at 85 Fleet
            Street, London, EC4P 4AJ (theCompany);
    and
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                  
|(2) | THOMAS
            HENRY GLOCERof
    32 Hyde Park Gate, London SW7 (you).                                                                                                       

IT
  IS AGREEDas
  follows:

DEFINITIONS

|1. | In
    this Agreement the following expressions shall have the following meanings:                                                                                                                                                                                                                                                                                                              
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                 
|   | Boardmeans
          the board of directors of the Company or a duly constituted committee
    of the board of directors;                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                 
|   | Employmentmeans
          your employment in accordance with the terms and conditions of this
    Agreement;                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                 
|   | Groupmeans
          the Company, any holding company of the Company and any subsidiary
          of the Company or of any such holding company (with holding company
          and subsidiary having the meanings given to them by section 736 of
          the Companies Act 1985 of England and Wales).Group
          CompanyandGroup
          Companiesshall
    be construed accordingly;
|   |                                                                                                                                                                                                                                                                                                                                                                                                 
|   | Remuneration
              Committeemeans
    the remuneration committee of the Board; and                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                 
|   | Yearmeans
    a calendar year;                                                                                                                                                                                                                                                                                                                                                                  

DURATION
  OF EMPLOYMENT

|2.1 | It
        is acknowledged that the company and you entered into an Agreement dated
        23 July
        2001 setting out the terms of your Employment (the Original Agreement).
        It is further acknowledged that:
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                             
|    | (a)                                                                                                                                                                                                                         
|    |                                                                                                                                                                                                                             
|    | (b)                                                                                                                                                                                                                         
|    |                                                                                                                                                                                                                             
|    | (c)                                                                                                                                                                                                                         



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081)
      C:\TEMP\Exhibit T – Glocer Feb 2004.Doc | Page
          1
|----------------------------------------------------------------------------------------------- | ----------------

---



Back to Contents

|2.2 | It is acknowledged
        that your continuous employment for statutory purposes began on 29 September
    1993.
|--- | -----------------------------------------------------------------------------------------------------------------

ROLE,
  POWERS AND DUTIES

|3.1 | From the
        date of this Agreement, you will serve the Company as Chief Executive
    Officer of the Company and executive director of the Company.                                                                                                                                                                                                                                                                        
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                 
|3.2 | During
        the Employment Period, you will exercise such powers and perform such
        duties in relation to the business of the Company and the Group, being
        duties which are customary, appropriate to and consistent with your status
        as may reasonably be assigned to you by the Board from time to time.
        During the Employment Period, you shall report solely and directly to
    the Board.
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                 
|3.3 | During
    the Employment Period you will:                                                                                                                                                                                                                                                                                                                                                                                      
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                 

| | (a) | subject
      to Clause 8.1, devote substantially the whole of your working time, attention
      and abilities to carrying out your duties under Clauses 3.1 and 3.2;                                                                                                                                                                                                                                                                                                                               
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (b) | comply
      with the duties imposed on you as a director by law;                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (c) | use
      all reasonable endeavours to promote the interests of the Company and any
      other Group Company which you may be required to serve under the terms of
      this Agreement;                                                                                                                                                                                                                                                                                                            
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (d) | have
      due regard to the Reuter Trust Principles and to the rights and duties of
      the Reuter Trustees as set out in the Memorandum and Articles of Association
      of the Company and in the Memorandum and Articles of Association of Reuters
      Founders Share Company Limited insofar as, by the proper exercise of your
      powers (and in accordance with your other duties) as director of the Company,
      the Reuter Trust Principles are capable of being observed by you;
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (e) | have
      due regard to the provisions of the Reuters Code of Conduct (as notified
      to you from time to time) and, so far as reasonably practicable in the performance
      of your duties, observe all material provisions of that Code;                                                                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (f) | comply
      with the Reuters Share Dealings Code (as notified to you from time to time);                                                                                                                                                                                                                                                                                                                                                                                                            
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (g) | have
      due regard to the provisions of all other material policies which apply
      to you as an executive employed by a Group Company, as notified to you from
      time to time; and                                                                                                                                                                                                                                                                                                         
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | (h) | other
      than absences due to illness or vacation or as otherwise may be required
      to fulfil your duties hereunder, regularly attend meetings of the Board
      and of any committees of the Board to which you may be appointed.                                                                                                                                                                                                                                                           

NORMAL
  PLACE OF WORK

|4. | Your normal
        place of work is at the Company’s head office in London. You will be
        required, in the performance of your duties, to travel in the United
    Kingdom
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          2
|------------------------------------------------- | ----------------

---



Back to Contents

| | and overseas.
        However, having given you not less than 90 days notice, the Company
        may reasonably require you to relocate to perform your duties at the
        offices of another Group Company in New York. In addition, the Company
        shall reimburse you all relocation expenses in respect of your relocation
        to New York in a manner which is consistent with the benefits provided
    in Clause 9 of Schedule 1.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

HOURS
  OF WORK

|5. | You will
        work the Companys normal working hours together with such additional
        hours as may reasonably be required for the proper performance of your
    duties.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

SALARY
  AND BENEFITS

|6.1 | You will
        be paid a base salary at the rate set out in a letter to you from the
        Company of the same date as this Agreement and as confirmed in your annual
        statement of remuneration and benefits (theBase
        Salary)
        and you will also be entitled to the additional remuneration and benefits
    set out in Schedule 1.                                                                                                                                                                                                                                                                                                      
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|6.2 | Your Base
        Salary will be paid in equal monthly instalments in accordance with the
        Companys customary payroll practices for senior executives. If
        your Base Salary is increased, then such increased Base Salary shall
    constitute Base Salary for all purposes under this Agreement.                                                                                                                                                                                                                                                                                                                                                    
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|6.3 | You are
        not entitled to any other salary, fees or remuneration as director or
        employee of the Company or any other Group Company save as provided herein
        and other than as provided in documentation relating to your directorships
        of other Group Companies and you must, as the Company directs, either
        waive your rights to any such salary, fees or remuneration or account
        for the same to the Company failing which it will be deducted from your
    salary.                                                                                                                                                 
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|6.4 | During
        the Employment, you will be eligible to receive equity based incentive
        awards on a basis commensurate with your position as Chief Executive
        Officer of the Company and the level of equity based incentive awards
        made to the chief executive officers of publicly listed companies comparable
        in size and industry to the Company, taking into account all relevant
        circumstances, including without limitation, your performance, the performance
    of the Company and the level of awards made under the original Agreement.                                                                            
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|6.5 | Your Base
        Salary and benefits will be reviewed annually by the Remuneration Committee
        no later than in December. Any change in the level of your Base Salary
        and benefits as a result of the review (which will not be downwards)
        will be effective from 1 January of the year following the review. Your
        bonus opportunity as a percentage of salary (with salary calculated in
        accordance with paragraph 1 of Schedule 1) shall not be reduced below
        150% during your Employment and the performance criteria pursuant to
    which such bonus is based shall not be materially altered to your detriment.
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|6.6 | During
        or after the termination of the Employment for whatever reason, the Company
    may deduct from your pay any undisputed sums outstanding to the                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          3
|------------------------------------------------- | ----------------

---



Back to Contents

| | Company
        or to any other Group Company from you including, without limitation,
        any advance of pay or loans or floats for expenses which would become
    due upon such termination.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

EXPENSES

|7. | Subject
        to the Company’s policies on executive directors’ expenses and executive
        directors’ spouse expenses (as notified to you from time to time), the
        Company will reimburse to you all reasonable travelling, hotel and other
        out-of-pocket expenses (including first class travel expenses) properly
        incurred by you and your spouse in the execution of the duties of the
        Employment against production of valid receipts and properly completed
    expense reports.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

OTHER
  INTERESTS

|8.1 | During
        the Employment Period you will be entitled to accept appointments as
        a non-executive director of companies other than a Group Company subject
    to:
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                             

| | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | the
      prior written consent of the Chairman of the Company (such consent to be
      confirmed by the Board and it being understood and agreed that you currently
      serve as a non-executive director of certain entities previously disclosed
      to the Company); and
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                  
| | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | the
      Company’s policy on non-executive directorships (as notified to you from
      time to time).                                                                                                                                                                          
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                  
| | You
        may retain any fees received as a non-executive director. Days of service
        as a non-executive director will not be deducted from your holiday entitlement
        provided that you shall not spend more than ten working days in aggregate
        in any year in such service. At any time during the Employment Period
        the Company may, with reasonable cause, require you to resign any non-executive
        directorship held. Reasonable cause for this purpose shall include but
        not be limited to a conflict of interest and such other reason or reasons
        as may be specified in the Reuters Code of Conduct (as notified to you
    from time to time).
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                  

|8.2 | During
        the Employment Period you will not be directly or indirectly concerned
        in any business, trade, profession or other occupation (whether as an
        employee, consultant, agent, director or otherwise) of a similar nature
        to or competitive with that carried on by the Company or any Group Companies
    except:
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                     

| | (a) | as
      a representative or officer of a Group Company;                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | (b) | as
      a non-executive director under Clause 8.1;                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | (c) | by
      virtue of your being interested in securities not representing more than
      (i) one per cent of a company’s issued securities of any class which are
      either listed on a recognised stock exchange or dealt on an unlisted securities
      market or an alternative investment market or authorised for quotation in
      a recognised inter-dealer quotation system or (ii) two per cent of a private
      operating company or (iii) five per cent of a private company where such
      interest takes



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          4
|------------------------------------------------- | ----------------

---



Back to Contents

|    |                                                                                                                                                                                                                                                                                                            | the form
        of a purely passive investment, provided that you will make disclosure
        of your investments as required by law or by the requirements of any
    regulatory body to which the Company is subject; or
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                             
|    | (d)                                                                                                                                                                                                                                                                                                        | with the
      prior written consent of the Board.                                                                                                                                                                          
|    |                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                             
|8.3 | For the
        avoidance of doubt, it is confirmed that, as at the date of this Agreement,
        you have been given approval to retain your current interest in securities
    in the company(ies) referred to in Schedule 3 to this Agreement.                                                       
|    |                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                             
|8.4 | You may
        serve on the board of religious, charitable, civic or public service
        organisations or otherwise be engaged in the activities of such organisations
        provided so serving or being so engaged does not prejudice your ability
    to fulfil your duties under this Agreement.

INVENTIONS
  AND IMPROVEMENTS

|9.1 | It will
    be part of your normal duties at all times:
|--- | -------------------------------------------------------
|    |                                                        

| | (a)                                                                                                                                                                                                              | to
      consider in what manner and by what new methods or devices the products,
      services, processes, equipment or systems of the Company and other Group
      Companies with which you are concerned or for which you are responsible
      might be improved; and                                                      
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                  
| | (b)                                                                                                                                                                                                              | promptly
      to give to the Company Secretary full details of any invention or improvement
      which you may from time to time make or discover in the course of your duties
      provided that any inadvertent or unintentional failure on your part to provide
      such details shall not be a breach of this Agreement.
| |                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                  
| | Subject
        to the Patents Act 1977 of England and Wales, the Company will be entitled
        free of charge to the sole ownership of any such invention or improvement
    and to the exclusive use of it.
| |                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                  

|9.2 | You assign
        to the Company (or to such other Group Company as the Company may direct)
        all copyrights, designs and other proprietary rights, if any, which may
        be so assigned in respect of all works and designs created by you or
        relating to your responsibilities during the Employment for the full
        term of those rights to the intent that those rights will immediately
        upon the completion of the relevant work rest with the Company (or with
    such other Group Company as the Company may direct).
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|9.3 | At the
        request and cost of the Company, you will do all such acts and things
        as may in the opinion of the Board be necessary or conducive to vest
        such rights in the Company (or in such other Group Company as it may
        direct). You irrevocably authorise the Company for the purposes of this
        Clause to make use of your name and to sign and to execute any documents
    or do any thing on your behalf.                                                                                                          
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|9.4 | You will
        not do anything knowingly to imperil the validity of any patent or protection
        owned by the Company (or in relation to which the Company is entitled
        to assert a right of ownership, whether pursuant to this Clause 9 or
    otherwise) or any application for any such patent or protection.                                                                                                                                                                                                                               



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          5
|------------------------------------------------- | ----------------

---



Back to Contents

|9.5             | You will
        not either during or after the termination of the Employment exploit
        or assist others to exploit any invention or improvement owned by the
        Company (or in relation to which the Company is entitled to assert a
        right of ownership, whether pursuant to this Clause 9 or otherwise) which
        you may from time to time make or discover in the course of your duties
        or (unless it shall have become public knowledge) make public or disclose
        any such invention or improvement or give any information in respect
    of it except to the Company or as the Company may direct.                                                                                                                                          
|--------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|9.6             | You irrevocably
        waive in favour of the Company (and in favour of such other Group Company
        as the Company may direct), its licensees and successors-in-title any
        and all moral rights in any works (existing or future) the subject of
    copyright made by you in the course of the Employment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|CONFIDENTIALITY
|                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|10.1            | During
        and after the termination of the Employment you will at all times keep
        confidential all private information about the Company and other Group
        Companies including technical and financial information, which you may
        have acquired while in the employment of the Company or of any other
        Group Company. You will not use such information for your own benefit
        or for the benefit of any business not within the Group. You will keep
        such information confidential to yourself, to other members of the Board
        and to anybody who needs such information in order properly to discharge
        his duties to the Company or any Group Company. Such information includes
    (without limitation) the following:
|                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

|     | (a)                                                                                                                                                                                                                                                                                | the
      business methods and information of the Company and any other Group Companies
      (including, without limitation, prices charged, discounts given to customers
      or obtained from suppliers, product development, marketing and advertising
      programmes, costing, budgets, turnover, sales targets and other financial
      information);
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                
|     | (b)                                                                                                                                                                                                                                                                                | lists
      and particulars of the suppliers and customers of the Company or of any
      other Group Companies and the individual contacts at such suppliers and
      customers;                                                                                                                                                                             
|     |                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                
|     | (c)                                                                                                                                                                                                                                                                                | details
      and terms of the agreements with suppliers and customers of the Company
      or of any other Group Companies;                                                                                                                                                                                                                                   
|     |                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                
|     | (d)                                                                                                                                                                                                                                                                                | secret
      development manufacturing or production processes and know-how employed
      by the Company or any other Group Companies or their respective suppliers;
      and                                                                                                                                                                                
|     |                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                
|     | (e)                                                                                                                                                                                                                                                                                | confidential
      details as to the design of the products and inventions or processes relating
      to the provision of services or developments relating to future products
      and services of the Company or of any other Group Companies or those of
      their respective suppliers.                                                                
|     |                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                
|10.2 | These
        restrictions shall not apply to any disclosure or use authorised by the
        Board, as required in the ordinary performance of your duties or required
        by law or by the requirements of any regulatory or other authority to
    which the Company or any



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          6
|------------------------------------------------- | ----------------

---



Back to Contents

|     | other Group
        Company or yourself is subject or as is reasonably necessary in connection
    with any adversarial proceedings against the Company and/or Group Company.                                                 
|---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                               
|10.3 | These restrictions
        shall not apply to information which is already in the public domain
        other than in cases where such information has become public as a result
    of a breach by you of these restrictions.
|     |                                                                                                                                                                                                                               
|10.4 | These restrictions
        shall not restrict you from using your own personal skill in any business
    in which you may lawfully be engaged after termination of the Employment.                                            

TERMINATION

Summary
  dismissal

|11.1 | The Company
        may terminate the Employment for Cause by immediate notice in writing
        and without payment of any kind other than any accrued but unpaid Base
        Salary, Bonus (as defined in Clause 1 of Schedule 1) and holiday pay
        up to the date of termination and any other benefits or payments (including
        reimbursement of expenses) to which you may be entitled under any benefit
        scheme of the Company or any Group Company up to the date of termination
        (theAccrued
    Benefits).
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|     | For the
    purposes of this Agreement Cause shall mean:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

| | (a) | if
      you commit any act or omission which constitutes:                                                                                                                                                                                                                                                                                                 
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                            
| |     | (i)                                                                                                                                                                                                                                                                                                                                                        
| |     |                                                                                                                                                                                                                                                                                                                                                            
| |     | (ii)                                                                                                                                                                                                                                                                                                                                                       
| |     |                                                                                                                                                                                                                                                                                                                                                            
| | (b) | if
      you wilfully commit any material breach of any material provision of this
      Agreement;                                                                                                                                                                                                                                                        
| |     |                                                                                                                                                                                                                                                                                                                                                            
| | (c) | if
      you wilfully neglect or refuse to carry out any material part of your duties
      (other than for a reason set forth in Clause 11.2) and which is not remedied
      by you, if capable of remedy, within ten (10) days following written notice
      by the Board of its intention to terminate the Employment under this sub-Clause
      (c);
| |     |                                                                                                                                                                                                                                                                                                                                                            
| | (d) | if
      you engage (either in bad faith or intentionally and with recklessness as
      to the consequences of your actions) in any conduct which materially damages
      the reputation of the Company or any other Group Companies;                                                                                                                    
| |     |                                                                                                                                                                                                                                                                                                                                                            
| | (e) | if
      you become prohibited by law from being a director of the Company due to
      your misconduct (including by virtue of your having committed an offence
      under section 213 or 214 of the Insolvency Act 1986); or                                                                                                                            



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
         7
|------------------------------------------------- | ---------------

---



Back to Contents

| | (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | if you terminate
      your directorship of the Company without Good Reason or without the consent
      of the Board.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                       
| | For
          purposes of this Clause 11.1, no act, or failure to act, by you shall
          be considered to have been done or omitted to be done wilfully unless
          committed in bad faith or without a reasonable degree of skill or care
          or without a reasonable belief that the act or omission was in the
      best interests of the Company or any Group Company.                                                                                                                                                                             
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                       
| | Cause
          shall not exist under sub-Clauses (a), (b), (c) or (d) unless and until
          the Company has delivered to you a copy of a resolution duly adopted
          by a majority of all the members of the Board at a quorate Board meeting
          (such majority and quorum to exclude you) called and held for such
          purpose (after not less than three business days notice to you
          and an opportunity for you and, where the Board agrees in advance,
      your counsel, to be heard before the Board) finding that Cause exists.

Termination
  by the Company through illness or death

|11.2 | The Company
        may terminate the Employment if you are prevented by illness (including
        mental illness) or injury from attending to your duties for more than
        365 days in aggregate in any one period of twenty four (24) consecutive
        calendar months. The Company will not terminate the Employment pursuant
        to this Clause 11.2 if, as a result, you would or may forfeit any entitlement
        to benefits under the permanent health insurance arrangements referred
        to in Schedule 1 unless it can procure the provision of continued cover
        under those arrangements or reimburse you the cost of premiums for continued
        cover under those arrangements or under other arrangements providing
        substantially similar cover for the period of the illness in question
        or until benefits would apart from such termination have ceased to be
        payable had the Employment continued or until you obtain permanent health
        insurance cover from a subsequent employer, whichever is the shortest
        period. Upon such termination of Employment or due to your death, the
        Company shall pay you the Accrued Benefits and you shall be entitled
    to the benefits provided for in Clause 11.12.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Termination
  by the Company without Cause

|11.3 | The Company
        may terminate the Employment without Cause by giving you 30 days advance
        written notice. Upon such termination of Employment, the Company shall
        pay you the aggregate of (i) the Accrued Benefits and (ii) the Cessation
        Compensation in cash in accordance with Clause 11.7 and (iii) you shall
        be entitled to the benefits provided for in Clause 11.12 provided that
        should the termination of Employment take place as a result of a Change
        of Control which is not excluded by the proviso in Clause 11.6 sub-Clause
        (iv), the Company shall multiply the Cessation Compensation by a factor
        of 1.66 if such termination takes place prior to 31 July 2004 and by
        a factor of 1.33 if such termination takes place prior to 31 July 2005
        and thereafter by a factor of 1. In addition, the Company shall maintain
        in full force and effect, for the continued benefit of you, your spouse
        and your children for a period of one year following the date of termination
        the medical, hospitalisation, dental, and life insurance schemes in which
        you, your spouse and your children were participating immediately prior
        to the date of termination at the level in effect and upon substantially
        the same terms and conditions (including without limitation contributions
    required by you for such benefits) as existed immediately prior to the
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          8
|------------------------------------------------- | ----------------

---



Back to Contents

| | date of
        termination. If you, your spouse or your children cannot continue to
        participate in the Company schemes providing such benefits, the Company
        shall arrange, at its discretion, either to provide you, your spouse
        and your children with the cash equivalent of such benefits which they
        otherwise would have been entitled to receive under such schemes or to
        pay the premiums to enable continued participation in equivalent schemes
        for a period of one year following the date of termination. The Companys
        obligation to provide continuing arrangements in relation to medical,
        hospitalisation, dental and life assurance schemes under this Clause
        11.3 shall terminate on the date or dates you receive equivalent cover
        and benefits, without waiting period or pre-existing condition limitations
        under the schemes of a subsequent employer (such cover and benefits to
        be determined on a cover by cover and benefit by benefit basis). If you
        obtain cover or benefits relating to medical, hospitalisation, dental
        and life insurance schemes from a subsequent employer which are less
        generous than those provided to you by the Company, you shall be entitled
        from the Company only to the difference between the cover or benefits
        you obtain from a subsequent employer and those to which you would have
        been entitled hereunder had no subsequent employer provided cover or
        benefits. You will use all reasonable endeavours to obtain equivalent
        cover and benefits from a subsequent employer. Once equivalent cover
        and benefits have been obtained from such subsequent employer, the Companys
        obligations to provide such cover and benefits for such one year period
        shall cease absolutely. For the purpose of this Clause 11.3, the reference
        to children means children up to the age of 21 or, if older and if they
    are in full time education, until they finish their education.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Termination
  through loss of directorship

|11.4 | If
        you are removed from the office of director of the Company, or the Company
        fails in general meeting to re-elect you as a director of the Company
        (including if, under the Articles of Association or other constitutional
        documents for the time being of the Company, you are obliged to retire
        by rotation or otherwise), then the Company may elect that the Employment
        shall terminate immediately without prejudice to the right of either
        party to this Agreement to treat any act or omission causing such removal
        from office as a breach of this Agreement. For the avoidance of doubt,
        it is acknowledged that termination of the Employment pursuant to this
        Clause 11.4 where removal from office has not taken place in circumstances
        justifying dismissal for Cause under Clause 11.1 constitutes a termination
    of the Employment without Cause for the purpose of Clause 11.3.
|---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Termination
  by you without Good Reason

|11.5 | You may
        terminate the Employment without Good Reason (as defined below) by giving
        the Company ninety (90) days advance written notice. In such event,
    you will be entitled to the same payments as described in Clause 11.1.
|---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Termination
  by you with Good Reason

|11.6 | You may
        terminate the Employment by giving the Company thirty (30) days advance
    written notice, such notice to be given within ninety (90) days after:
|---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          9
|------------------------------------------------- | ----------------

---



Back to Contents

| | (a) | in
      the case of a Good Reason event which is incurable, the date on which the
      Good Reason event occurs (provided that such thirty (30) days notice
      is not required for an event described in sub-Clause (iv) of the definition
      of Good Reason below); and                                    
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                      
| | (b) | in
      the case of a Good Reason event which is curable but which is not cured
      within thirty (30) days of you giving written notice to the Company specifying
      the Good Reason event and requiring it to be cured, the date falling thirty
      (30) days after the date of such notice to the Company.
| |     |                                                                                                                                                                                                                                                                                                                      

| | Upon
        such a termination of Employment, you will be entitled to the same payments
        as in the case of a termination of Employment by the Company without
    Cause (as described in Clause 11.3).
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                               
| | Good
        Reason shall mean, without your written consent, any of the following
    events:                                                                                                              
| |                                                                                                                                                                                                               
| |                                                                                                                                                                                                               
| |                                                                                                                                                                                                               
| |                                                                                                                                                                                                               
| |                                                                                                                                                                                                               
| |                                                                                                                                                                                                               
| |                                                                                                                                                                                                               
| |                                                                                                                                                                                                               



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          10
|------------------------------------------------- | -----------------

---



Back to Contents

| |  |  | Company
      sells or otherwise disposes of all or substantially all of its assets with
      the approval of the Companys shareholders, other than for the purposes
      of a reconstruction or reorganisation in which (A) the ultimate ownership
      of the Company or substantially all its assets is unaffected or (B) a new
      holding company for the Company is created, where the new holding company
      has substantially the same shareholders and proportionate shareholdings
      as those of the Company immediately prior to the interposition of the new
      holding company.
| |  |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Cessation
  Compensation

|11.7 | For the
    purpose of Clause 11.3 and 11.6 :
|---- | ---------------------------------------------
|     |                                              

| | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Cessation
      Compensationmeans
      the Relevant Sum;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Relevant
      Summeans
      the sum of your Base Salary and Relevant Bonus;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Relevant
      Bonusmeans
      H x (I% x Base Salary) where H is the highest percentage of bonus which
      you have received in the three years prior to the year in which the Employment
      terminates (including, if relevant, periods prior to the Effective Date)
      and I is the maximum percentage of Base Salary earnable as bonus in the
      year of termination. For example, if you are eligible to a bonus of 125%
      of a Base Salary of £1,000,000 and in the last three years you have
      received 100%, 90% and 50% of your bonus respectively, your relevant bonus
      will be £1,250,000.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | Other
        than in respect of your rights under Clause 11.12, you agree that any
        payment of Cessation Compensation made to you pursuant to Clause 11.3
        or 11.6 will be in full and final settlement of any claim which you might
        otherwise have against the Company and against any other Group Company
        for damages for wrongful dismissal and the parties agree that the Cessation
        Compensation represents a genuine pre-estimate of the loss which would
    otherwise have been suffered by you.                                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | The
        payment to be made to you pursuant to Clause 11.3 or 11.6 will be made
        in two stages. The total amount, less a deduction of £60,000, will
        be paid within seven (7) days of the termination of the Employment. The
        remaining balance of £60,000 will be paid within four months of
        the termination of the Employment, conditional upon you not having bought
        any claims before a court or tribunal against the Company or any other
        Group Company or any of their respective officers and employees in connection
        with the Employment or its termination in or prior to that four month
    period.

Mitigation

|11.8 | You shall
        not be required to mitigate amounts payable under this Clause 11 by seeking
        other employment or otherwise, and there shall be no offset against amounts
        due to you under this Clause 11 on account of subsequent employment save
        as provided herein. Additionally, amounts owed to you under this Clause
        11 shall not be offset by any claims the Company may have against you
        and, subject to Clause 6.5, the Companys obligation to make the
    payments provided for in this Agreement and
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
         11
|------------------------------------------------- | ----------------

---



Back to Contents

| | otherwise
        to perform its obligations hereunder, shall not be affected by any other
        circumstances including, without limitation, any counterclaim, recoupment,
    defence or other right which the Company may have against you or others.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Return
  of documents

|11.9 | On termination
        of the Employment for any reason or, at the request of the Company, when
        notice to terminate the Employment is given, you must immediately deliver
    to the Company (without keeping any copies):
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                   

| | (a)                                           | all
      documents, papers and materials and any other property of the Company and
      of any other Group Companies; and            
| | --------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------
| |                                               |                                                                                                                                        
| | (b)                                           | all
      documents or other media on which confidential information about the Company
      and any other Group Companies is recorded,
| |                                               |                                                                                                                                        
| | in
    your possession or under your control.

Resignation
  as a director

|11.10 | On termination
        of the Employment for any reason, you must immediately, at the request
        of the Company, resign your office as a director of the Company and of
        any other Group Company without compensation for loss of office other
    than as provided in this Agreement.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Share
  schemes

|11.11 | It
        is acknowledged that you may, during the Employment, be granted rights
        upon the terms and subject to the conditions of the rules from time to
        time of the Reuters Group PLC Long Term Incentive Plan or any other profit
        sharing, share incentive, share option, bonus or phantom option scheme
        operated by the Company or any other Group Company with respect to shares
        in the Company or any other Group Company. Subject to Clause 11.12, if
        on termination of the Employment, whether lawfully or in breach of contract
        you lose any of the rights or benefits under such schemes (including
        rights or benefits which you would not have lost had the Employment not
        been terminated) you shall not be entitled, by way of compensation for
        loss of office or otherwise howsoever, to any compensation for the loss
    of any rights under any such scheme.                                                                                 
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|11.12 | Notwithstanding
        Clause 11.11, if the Employment is terminated in any of the circumstances
        described in Clause 11.2, 11.3 or 11.6 or by reason of your death or
        where it is terminated pursuant to Clause 11.4 in circumstances where
        such termination constitutes a termination of the Employment without
        Cause for the purpose of Clause 11.3, the Company will procure that you
        shall retain all awards made under the Companys or any Group Companys
        equity plans or programs, including, without limitation, the awards under
        Clause 6.4 hereof (theEquity
        Plans)
        granted to you (including without limitation in the form of options shares
        or share rights) which have not vested or crystallised at the date of
        termination and shall in respect of the subsequent vesting or crystallisation
        of such awards (including through any extension of the applicable vesting
    period) and their exercise or release be treated



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          12
|------------------------------------------------- | -----------------

---



Back to Contents

|                                   | as though
        you had continued in Employment. In addition, notwithstanding the terms
        and conditions of the Equity Plans to the contrary, with respect to the
        retention, vesting and/or crystallisation of such awards your personal
        conduct following your termination of Employment will not in any way
        affect your right to continue to retain, vest or crystallise with respect
        to such awards, provided that the terms or conditions of the Equity Plans
        relating to the performance conditions pursuant to which such awards
        vest and crystallise shall continue to apply. Should it not be possible
        to treat you as if you are a continuing employee in respect of the vesting,
        crystallisation, exercise or release of any awards under the Equity Plans,
        the Company will procure that all your awards vest (and/or crystallise,
        as the case may be) in full and become exercisable on termination of
        Employment regardless of any conditions relating to status, personal
        conduct or otherwise, and in the case of options shall remain exercisable
        for at least 6 months following termination of employment, provided that
        such period does not extend beyond the original life of the relevant
        award.
|---------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|SUSPENSION                        
|                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|12.1                               | The Board
        may at any time or from time to time suspend you from the performance
        of your duties and/or exclude you from any of the premises of the Company
        or of any other Group Company in circumstances in which the Board reasonably
        believes that you have committed gross misconduct or are in material
        breach of a material provision of this Agreement and in order that the
        circumstances giving rise to that belief may be investigated. You shall
        be suspended for such period as the Board considers reasonably necessary
        for it to undertake a proper investigation but in any event for no longer
        than ninety (90) consecutive days. At the end of such ninety (90) day
        period, the Company will procure that you are either reinstated in your
        post as Chief Executive Officer or that your Employment is terminated.
        The Company will give you a reason for suspending or excluding you. Your
        salary and benefits will not cease to be payable by reason only of such
        suspension or exclusion.                                                                                                                                                                                                                          
|                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|12.2                               | During
        any period of suspension or exclusion, you will not contact or deal with
        customers, suppliers or employees of the Company or of any other Group
        Company or enter onto the premises of the Company or of any Group Company
        without the prior written consent of the Chairman of the Company. You
        will be entitled to terminate the Employment without Good Reason pursuant
        to Clause 11.5 but without the requirement to give the Company ninety
        (90) days advance written notice. Any rights you might otherwise
        have to terminate this Agreement pursuant to Clause 11.6 shall not be
        affected during any period of suspension or exclusion (although you acknowledge
        that such suspension or exclusion shall in and of itself not constitute
        Good Reason pursuant to Clause 11.6).                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|CONTINUING
            OBLIGATIONS
|                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Non-representation                
|                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|13.1                               | You will
        not at any time after the termination of the Employment directly or indirectly
        represent yourself as being in any way connected with or interested in
        the business of the Group (except, if it is the case, as a shareholder
        of the Company or as a director of the Company).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          13
|------------------------------------------------- | -----------------

---



Back to Contents

|Non-solicitation
            of employees
|-----------------------------------------
|                                         
|13.2                                     
|                                         
|                                         
|                                         
|                                         
|                                         
|Non-solicitation
            of business 
|                                         
|13.3                                     
|                                         
|Non-dealing                              
|                                         
|13.4                                     



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          14
|------------------------------------------------- | -----------------

---



Back to Contents

|                                              | sponsor
        or promoter and which is in competition with the business of the Company
        or any Group Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|--------------------------------------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Non-competition                              
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|13.5                                          | You must
        not, for a period of six months after the termination of the Employment,
        be engaged in or concerned in any capacity in any business concern which
        is in competition with the business of the Company or of any other Group
        Company. A list of such business concerns as at the dateof
        this Agreement is set out in Part 1 of Schedule 2 to this Agreement.
        Unless you have the prior approval of the Chairman of the Company you
        may not, for a period of six months after the termination of the Employment,
        be engaged in or concerned in any capacity in any of the business concerns
        named in the lists set out in Parts 2 and 3 of Schedule 2 to this Agreement.
        The lists in Schedule 2 may be amended by the Board acting reasonably
        (provided that the number of business concerns included in Schedule 2
        at any one time shall not exceed 15) and each such amendment shall be
        notified to you from time to time. This Clause shall not restrain you
        from being engaged or concerned in any business concern in so far as
        your duties or work relate solely to services or activities of a kind
        with which you were not concerned to a material extent during the period
        of six months preceding the date of termination of the Employment.
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Extension
            to other persons       
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|13.6                                          | The obligations
        imposed on you by this Clause 13 extend to you acting not only on your
        own account but also on behalf of any other firm, company or other person
        and shall apply whether you act directly or indirectly.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Acknowledgement
            of reasonableness
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|13.7                                          | The restrictions
        contained in this Clause 13 are considered by you and the Company to
        be reasonable in all the circumstances. Each part of this Clause constitutes
        an entirely separate and independent restriction and the duration, extent
        and application of each of the restrictions are not greater than is necessary
        for the protection of the commercial interests of the Group and their
        stable trained workforce.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|No
          disparaging statements          
|                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|13.8                                          | Each party
        agrees (and in the case of the Company, it shall use reasonable endeavours
        to cause its executives, officers, employees, directors, agents and consultants)
        during, and after termination of, your Employment not to make, publish
        or in any other way communicate or cause to be made, published or issued
        or otherwise communicate to any third party any disparaging or derogatory
        statements to any third party concerning you or the Company or any Group
        Company or any of its or their current executives, officers, employees,
        agents or consultants provided that nothing in this Agreement will prevent
        you or the Company or any Group Company from disclosing information as
        required by law or in order to take professional advice or as ordered
        by a court of competent jurisdiction.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          15
|------------------------------------------------- | -----------------

---



Back to Contents

|GRIEVANCE
            PROCEDURE
|-------------------------------
|                               
|14.                            
|                               
|WAIVER                         
|                               
|15.                            
|                               
|AMENDMENTS                     
|                               
|16.                            
|                               
|NOTICES                        
|                               
|17.                            
|                               
|OTHER
            AGREEMENTS   
|                               
|18.                            



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          16
|------------------------------------------------- | -----------------

---



Back to Contents

|GOVERNING
            LAW                                                                                                                                         
|------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                  
|19.                                                                                                                                                               
|                                                                                                                                                                  
|WITHHOLDING
            OR DEDUCTIONS FOR TAX                                                                                                                     
|                                                                                                                                                                  
|20.                                                                                                                                                               
|                                                                                                                                                                  
|AS
            WITNESSwhereof
            this Agreement has been signed by or on behalf of the parties to
            it on the day and year first above written.



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          17
|------------------------------------------------- | -----------------

---



Back to Contents

SCHEDULE
        1

OTHER
        BENEFITS

|BONUS                    
|-------------------------
|                         
|1.                       
|                         
|HOLIDAYS                 
|                         
|2.1                      
|                         
|2.2                      
|                         
|2.3                      
|                         
|2.4                      
|                         
|PENSION
            PLANS
|                         
|3.                       



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          18
|------------------------------------------------- | -----------------

---



Back to Contents

|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|---------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|LONG
            TERM INCENTIVE PLAN          
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|4.                                             | Subject
        to Clause 11.13 of the Service Agreement, you are entitled to be a member
        of the Reuters Group PLC Long Term Incentive Plan (as notified to you
        from time to time) (or any plan operated by the Company in succession
        to that plan) for so long as such plans may be operated by the Company,
        and the Company shall pay to you benefits under these plans, subject
        to the conditions of the Company’s policy on retention of LTIP awards
        on early retirement (as notified to you from time to time).
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|MEDICAL/DISABILITY
            INSURANCE      
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|5.1                                            | You
        shall be entitled to membership of the Companys Medical, Dental
        and Eye Care plans, subject to the terms of the plans and of any related
        policies of insurance as in force from time to time.                                                                                                                                                                                                                                                                                                                                          
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|5.2                                            | You
        shall be entitled to membership of the Company’s disability insurance
        plans, subject to the terms of those plans and of any related policies
        of insurance as in force from time to time.                                                                                                                                                                                                                                                                                                                                                
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|LIFE
            ASSURANCE                    
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|6.                                             | You
        are entitled to membership of the Companys Basic Life Assurance,
        Accidental Death and Dismemberment Insurance and Supplemental Life Assurance
        Plans, subject to the terms of the plans and of any related policy of
        insurance as in force from time to time.                                                                                                                                                                                                                                                                   
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|COMPANY
            CAR                       
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|7.                                             | The
        Company will provide you with a monthly car allowance subject to the
        Companys Policy on Executive Directors Cars which shall be
        payable in instalments with Base Salary pursuant to Clause 6.2.                                                                                                                                                                                                                                                                                                                                       
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|DIRECTORS’
            INDEMNITY AND INSURANCE
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|8.1                                            | During
        the Employment Period and thereafter, you shall have the benefits of:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                               | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | a complete
        indemnity for all and any liabilities incurred by you (including, without
        limitation, all legal expenses reasonably incurred by you) in your capacity
        as an officer, director or employee of the Company or any other Group
        Company to the fullest extent provided in the constitutional documents
        of the Company or any Group Company for all acts or omissions on your
        part whilst acting as a director, officer or employee of the Company
        or such other Group Company (to the extent such indemnity is permitted
        by the law of the country to which the relevant Company or Group Company
        is subject); and
|                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                               | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (subject
        to their terms) any insurance policies which shall be maintained by the
        Company in respect of liabilities incurred by Group Company directors
        officers and employees in their capacity as such.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          19
|------------------------------------------------- | -----------------

---



Back to Contents

|                           | The
        obligations of the Company under Clauses 8.1 and 8.2 shall survive termination
        of the Employment and shall not be offset by any liquidated damages contemplated
        under this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|-------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|8.2                        | During
        the Employment Period and thereafter, the Company shall procure that
        you have (to the extent such indemnity is permitted by applicable law)
        a complete indemnity for all any liabilities incurred by you (other than
        where such liability arises out of or relates to the commission by you
        of a criminal offence or any wilful default or gross negligence) in your
        capacity as an officer or director of any company or similar entity that
        is not a member of the Group, where such directorship or office is held
        by you at the request of the Company.                                                                                                                                                            
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|8.3                        | You
        are entitled to take independent professional advice, at the expense
        of the Company, where such advice is reasonably required for the furtherance
        of your duties as a director of the Company. No prior approval is required
        to obtain advice costing up to £5,000. Before seeking advice that
        is likely to cost more than £5,000 you must obtain the written
        consent of at least one non-executive director and send a copy of such
        consent to the Company Secretary. The non-executive director shall have
        power to set a reasonable limit on the cost you may incur on obtaining
        independent advice at the Companys expense without further reference
        to him.                                         
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|OTHER
            BENEFITS
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|9.1                        | During
        the Employment Period the Company will meet or reimburse you for:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                           | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                           | b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|9.2                        | The
        Company will provide you with a licence to occupy property at 32 Hyde
        Park Gate, London SW7, or similar accommodation acceptable to you, free
        of charge. The licence shall be revocable by the Company at any time
        and, in any event, no later than 31 July 2005. However, if the licence
        is revoked you will, in respect of the period between the date of revocation
        and 31 July 2005 be paid a housing allowance at an annual rate of £381,316.
        After 31 July 2005, the Company will, at its election, either continue
        to provide you with a licence to occupy suitable accommodation acceptable
        to you, or will pay you a housing allowance in an equal amount.in respect
        of your accommodation costs.
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|9.3                        | You
        shall have such other benefits as may be made available to you by the
        Company from time to time, including but not limited to the use of Reuters
        products, mobile telephone and other equipment and membership of professional
        bodies.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|9.4                        | During
        the Employment Period, the Company shall reimburse your reasonable personal
        financial and tax planning and preparation and filing expenses.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          20
|------------------------------------------------- | -----------------

---



Back to Contents

|9.5 | Following
        the termination of the Employment for any reason, the Company shall reimburse
        you (or your estate or beneficiaries) for all reasonable expenses incurred
        by you (or your family in the event of your death or incapacity) to relocate
        from your new location to anywhere in the United States.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          21
|------------------------------------------------- | -----------------

---



Back to Contents

SCHEDULE
  2

COMPETING
  BUSINESS CONCERNS
AS AT THE DATE OF THIS AGREEMENT

Part
  1

|                   | Competing
      Business Concerns as at the date of this Agreement
|------------------ | ------------------------------------------------------------------
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|Part
            2
|                   |                                                                   
|                   | Companies
      with Divisions which compete with Reuters         
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|                   |                                                                   
|Part
            3
|                   |                                                                   
|                   | Companies
      with which Reuters has Strategic Relationships    
|                   |                                                                   
|                   |                                                                   



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          22
|------------------------------------------------- | -----------------

---



Back to Contents

SCHEDULE
  3

PERMITTED
  SHAREHOLDINGS
AS AT THE DATE OF THIS AGREEMENT



| | SDK Investments,
      LLC 
| | ---------------------------
| |                            
| | Dawntreader
      Fund I LP
| |                            
| | Conversagent
      Inc.    
| |                            
| | Visible
      World Inc.   



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          23
|------------------------------------------------- | -----------------

---



Back to Contents

|SIGNEDby                                               | ) |                            
|------------------------------------------------------ | - | ---------------------------
|for and
      on behalf of                             | ) | /s/
    CHRIS HOGG         
|REUTERS
      GROUP PLC                                | )
|in the
        presence  of:-  /s/ ROSEMARY E S MARTIN | ) |                            
|                                                       |   |                            
|                                                       |   |                            
|                                                       |   |                            
|SIGNEDas aDEED                                         | ) |                            
|andDELIVEREDby                                         | ) | /s/
    THOMAS HENRY GLOCER
|THOMAS
      HENRY GLOCER                              | )
|in the
        presence  of :-  /s/ JANE K WELCH       | ) |                            



|Exhibit - T Glocer Feb 2004.DOC/48+ (103892-0081) | Page
          24
|------------------------------------------------- | -----------------

---