|UNITED STATESSECURITIES
AND EXCHANGE COMMISSIONWashington, D.C. 20549


FORM 20-F


(Mark
One)
|----------------------------------------------------------------------------------------------

|[_] |  | REGISTRATION
STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
|--- |  | ----------------------------------------------------------------------------------------------

|OR
|--

|[X] |  | ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|--- |  | ------------------------------------------------------------------------------------

|For the fiscal year ended December
31, 2001



OR
|-------------------------------------------------

|[_] |  | TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|--- |  | ----------------------------------------------------------------------------------------

|For the transition period from
____________ to ____________
|-----------------------------------------------------------

|Commission file number | 0-13456 | 
|---------------------- | ------- | 

|Reuters Group PLC
(Exact Name of
Registrant as Specified in Its Charter)



(Translation of
Registrants Name Into English)


England
(Jurisdiction of Incorporation or Organization)


85 Fleet Street, London
EC4P 4AJ, England(Address of Principal Executive Offices)
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Securities
registered or to be registered pursuant to Section 12(b) of the Act: None
| | ------------------------------------------------------------------------------------

| | Securities registered or to be registered pursuant to Section 12(g) of the Act: Ordinary Shares of
25 p each
| | ------------------------------------------------------------------------------------------------------------

| | Securities
for which there is a reporting obligation pursuant to Section 15(d) of the Act: None
| | -----------------------------------------------------------------------------------------------

| | Indicate
the number of outstanding shares of each of the issuers classes of capital or common
stock as of the close of the period covered by the annual report.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  |                             
| |  | ----------------------------
| |  | Ordinary Shares of 25 p each
| |  | Founders Share of £1        

| | Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Yes _X_     No ___
|------------------

| | Indicate
by check mark which financial statement item the registrant has elected to follow
| | ------------------------------------------------------------------------------------------

|Item 17 ___     Item 18 _X_
|---------------------------

|Reuters - SEC Filing - Annual Report and Form 20-F 2001 - for more information about Reuters please visit www.reuters.com
|-------------------------------------------------------------------------------------------------------------------------
|                                                                                                                         
|                                                                                                                         

|
|
|
|

|FINANCIAL HIGHLIGHTS
|--------------------

|                                                                                                                                                                                                                                                                                                                                                       | 2001
            £m | 20001
            £m | %
            change
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------- | -------------------- | --------------------
|                                                                                                                                                                                                                                                                                                                                                      
|Revenue                                                                                                                                                                                                                                                                                                                                                | 3,885               | 3,592                | 8%                  
|Earnings
            before interest, tax, depreciation and amortisation (EBITDA)                                                                                                                                                                                                                                                                     | 506                 | 1,001                | (49%)               
|Normalised
            operating profit                                                                                                                                                                                                                                                                                                                | 383                 | 470                  | (19%)               
|Operating
            profit                                                                                                                                                                                                                                                                                                                           | 302                 | 411                  | (26%)               
|Operating
            profit margin                                                                                                                                                                                                                                                                                                                    | 7.8%                | 11.4%               
|Normalised
            profit before tax                                                                                                                                                                                                                                                                                                               | 304                 | 457                  | (34%)               
|Profit
            before tax                                                                                                                                                                                                                                                                                                                          | 158                 | 657                  | (76%)               
|Pre-tax
            profit margin                                                                                                                                                                                                                                                                                                                      | 4.1%                | 18.3%                |                     
|Taxation                                                                                                                                                                                                                                                                                                                                               | 107                 | 136                  | (21%)               
|Profit
            after tax                                                                                                                                                                                                                                                                                                                           | 51                  | 521                  | (90%)               
|Return
            on tangible fixed assets                                                                                                                                                                                                                                                                                                            | 7.8%                | 78.3%                |                     
|Return
            on equity                                                                                                                                                                                                                                                                                                                           | 4.6%                | 65.0%                |                     
|Free
            cash flow                                                                                                                                                                                                                                                                                                                             | 440                 | 434                  | 1%                  
|Net
            funds/(debt)                                                                                                                                                                                                                                                                                                                           | 138                 | (34)                 |                     
|                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                       |                     |                      |                     
|                                                                                                                                                                                                                                                                                                                                                      
|Basic
            earnings per ordinary share (EPS)                                                                                                                                                                                                                                                                                                    | 3.3p                | 37.1p                |                     
|Earnings
            per ADS*                                                                                                                                                                                                                                                                                                                         | $0.29               | $3.23                |                     
|Dividends
            per ordinary share                                                                                                                                                                                                                                                                                                               | 10.0p               | 16.0p                | (38%)               
|Dividends
            per ADS*                                                                                                                                                                                                                                                                                                                         | 60.0p               | 96.0p                | (38%)               
|                                                                                                                                                                                                                                                                                                                                                      
|1
              Restated following adoption of FRS 19 (see
              note 24). EBITDA includes profits and losses derived from the disposal
              of subsidiary undertakings and fixed asset investments.* Each ADS represents six ordinary shares.
              A nominal exchange rate of US$1.45 = £1 has been used for convenience.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|RECONCILIATION
            OF OPERATING PROFIT AND PROFIT BEFORE TAX TO NORMALISED OPERATING
            PROFIT AND NORMALISED PROFIT BEFORE TAX(see Performance measurement
            for definition of 'normalised')                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Operating
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Add:
            amortisation of intangible assets on subsidiaries                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Normalised
            operating profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Share
            of joint ventures and associates losses/investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Net
            interest (payable)/receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Normalised
            profit before tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Amortisation
            of intangible assets on subsidiaries, joint ventures and associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Net
            (losses)/gains on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Profit
            before tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|This report comprises
              the annual report of Reuters Group PLC in accordance with the United
              Kingdom requirements and its annual report on Form 20-F in accordance
              with the requirements of the United States Securities and Exchange
              Commission (SEC) for 2001. See the cross
              reference guide setting out the information in this report that
              corresponds to the Form 20-F.
            As used in this
              report 'Reuters Group' and 'Group' refer to Reuters Group PLC and
              its consolidated subsidiaries including Instinet. The 'company'
              refers to the parent Reuters Group PLC. 'Reuters' refers to Reuters
              Group excluding Instinet.
            The consolidated
              financial statements of Reuters Group PLC included in this report
              are presented in pounds sterling (£). On 31 December 2001,
              the noon buying rate in New York City for cable transfers in foreign
              currencies as announced for customs purposes by the Federal Reserve
              Bank of New York (Noon Buying Rate) was $1.45 = £1: on 15 February
              2002 the Noon Buying Rate was $1.43 = £1. See the additional
              information on exchange
              rates between the pound sterling and the US dollar.
            Reuters Group
              consolidated financial statements are prepared in accordance with
              accounting principles generally accepted in the United Kingdom (UK
              GAAP). UK GAAP differ in certain respects from accounting principles
              generally accepted in the United States (US GAAP). See material
              differences between UK GAAP and US GAAP relevant to the Group.
            This report
              contains forward-looking statements within the meaning of the United
              States Private Securities Litigation Reform Act of 1995 with respect
              to Reuters Group financial condition, results of operations and
              business and management strategy, plans and objectives for the Group.
              For a discussion of risks associated with these statements see 'Risk
              factors'.

|
|
|
|

|FIVE YEAR SUMMARY
|-----------------

| |  |  |  |                                                                                                                                   
| |  |  |  | ----------------------------------------------------------------------------------------------------------------------------------
| |  |  |  | See
                  Performance measurement
                  for definition of normalised profits and earnings.                
|
| |  |  |  |                                                                                                                                   
| |  |  |  | For
                  definition of cash flow per ordinary share see Eleven
                  year consolidated financial summary.

Divisonal
              revenue summary

| |  | 
| |  | 
|
| |  | 

|
|
|
|

|SELECTED FINANCIAL DATA
|-----------------------

|The selected
              financial information set forth below is derived, in part, from
              the consolidated financial statements. The selected data should
              be read in conjunction with the financial statements and related
              notes, as well as the operating and financial review.
            The consolidated
              financial statements are prepared in accordance with UK GAAP, which
              differ in certain respects from US GAAP. See summary
              of the principal differences between UK and US GAAP and related
              information.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|CONSOLIDATED
            PROFIT AND LOSS ACCOUNT DATA
            YEAR ENDED 31 DECEMBER                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Amounts
            in accordance with UK GAAP:Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Operating
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Profit
            on ordinary activities before tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Profit
            on ordinary activities after tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Basic
            earnings per ordinary share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Diluted
            earnings per ordinary share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Basic
            earnings per ADS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Diluted
            earnings per ADS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Dividends
            declared per ordinary share (including UK tax credit)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Dividends
            declared per ADS (including UK tax credit):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Weighted
            average number of ordinary shares (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Amounts
            in accordance with US GAAP:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Income
            before taxes on income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Net
            income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Basic
            earnings per ordinary share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Diluted
            earnings per ordinary share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Basic
            earnings per ADS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Diluted
            earnings per ADS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Dividends
            declared per ordinary share (including UK tax credit)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Dividends
            declared per ADS (including UK tax credit):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Weighted
            average number of ordinary shares (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|CONSOLIDATED
            BALANCE SHEET DATAAT
            31 DECEMBER                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Amounts
            in accordance with UK GAAP:Total assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Long-term
            debt and provisions for charges                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Net
            assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Shareholders'
            equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Share
            capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Amounts
            in accordance with US GAAP:Total assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Long-term
            debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Net
            assets/shareholders' equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|*
            Restated following adoption of FRS 19 (see
            note 24).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        

|1. | Under UK GAAP
            dividends declared are those declared in respect of the year for which
            selected financial data is presented. Under US GAAP dividends declared
            are those formally declared within each calendar twelve-month period.
            For further information relating to dividends and the UK taxation
            of dividends see Information
            for shareholders.                                                                                                                                                                                                                                                                                                                                                                                                        
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|2. | Dividends expressed
            in US currency have been converted at the actual exchange rates used
            in the payment of dividends to US shareholders, except that the final
            dividend declared in respect of 2001, payable to US shareholders on
            2 May 2002, has been converted at the Noon Buying Rate on 15 February
            2002 for convenience.                                                                                                                                                                                                                                                                                                                                                                                                                                        
|3. | In 1998 Reuters
            Holdings PLC consummated a court approved capital reorganisation in
            which shares of Reuters Holdings were exchanged for a combination
            of shares of Reuters Group and approximately £1.5 billion in
            cash. Under US GAAP this transaction was deemed a share consolidation
            combined with a special dividend and, accordingly, earnings per share
            and per ADS and dividends per share and per ADS amounts were retrospectively
            restated. Under UK GAAP no restatement was deemed appropriate as the
            cash payment was considered a repurchase of shares and the number
            of new shares in Reuters Group was set to facilitate comparability
            of per share amounts with those of Reuters Holdings.

|
|
|
|

|COMPANY INFORMATION
|-------------------

|History and
            development Founded
            in 1851 in London, Reuters Group has grown to become the world's leading
            global information, news and technology business. Its reputation for
            speed, accuracy and integrity is underpinned by a strong tradition
            of editorial independence and freedom from bias combined with a commitment
            to continuous technological innovation leveraged on a global scale.
            The Group serves
              the global financial markets and news media with a wide range of
              information products and transactional solutions. These include
              real-time and historical market data; research and analytics; trading
              platforms across a range of financial instruments; collective investment
              data and benchmarking analytics; plus news in text, video, graphics
              and photographs.
            Reuters delivers
              news and financial data to over 627,000 financial market professionals
              in more than 70,000 locations in around 150 countries, using public
              and private communication systems, increasingly through IP-based
              networks furnished by Radianz Limited, a joint venture between Reuters
              and the world's largest network operator, Equant. Reuters also reaches
              a much wider audience as the world's largest international text
              and television news agency with 2,259 journalists, photographers
              and camera operators in 230 bureaux around the world at the end
              of 2001.
            During 2001
              Reuters continued implementation of its Business Transformation
              programme designed to meet rapidly evolving customer requirements
              by designing and delivering new generation products and services
              based on internet technologies and ensuring optimal internal systems
              and commercial processes within the organisation. This programme
              included headcount reductions and the reshaping of Reuters operational
              structures and is intended to improve future profitability through
              sharpening the focus on customer service and reducing the Group's
              cost base. In response to difficult trading conditions during the
              year, Reuters increased its planned headcount reductions to approximately
              1,800 people (of whom over 1,000 had left by the end of the year).
              Instinet reduced its own headcount by 237.
            In addition
              to these organic changes, in September 2001 Reuters completed the
              acquisition of the core North America equities information and trading
              business and certain other businesses of Bridge Information Systems,
              Inc. The transaction has greatly enhanced Reuters presence in the
              US buy-side market and has allowed Reuters to expand its product
              offering as well as to connect its international customer base with
              Bridge's largely US clientele.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Business organisation During the
            year ended 31 December 2001 the business was organised into three
            principal product divisions  Reuters Financial, covering products
            and services for the financial markets; Reuterspace, developing new
            businesses outside the core markets; and Instinet (83% owned by Reuters),
            operating electronic trading platforms and related support services
            for financial market participants. The business is divided into three
            main geographic areas: Europe, Middle East and Africa; Asia/Pacific
            and the Americas. Revenues for the three years to 31 December 2001
            are analysed by product division and major geographical region in
            the Operating and financial
            review and in note
            1 and note 13.
            
            In June 2001,
              Reuters announced its intention to reorganise along customer
              segment lines. Since 1 January 2002 Reuters Financial and Reuterspace
              have been succeeded by four new business segments focused on the
              major customer groups served by Reuters  Treasury; Asset Management;
              Investment Banking & Brokerage; and Corporates & Media.
              Together with Instinet, these are now the primary strategic and
              operating dimension for the Group.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Customer segments
            Treasury, Reuters largest segment, helps customers operate more
            effectively in the foreign exchange and money markets. In addition
            to information products, this segment offers an electronic matching
            service to trade spot and forward foreign exchange in almost 40 currencies
            and a conversational dealing service for electronic communication
            and trading. The Treasury segment also delivers a number of leading
            applications that allow customers to service their own clients more
            efficiently, or understand and manage their own risks, cash flow or
            order-flow more effectively.
            
            Asset Management
              represents significant growth opportunities for Reuters, although
              the company already has a substantial presence in the sector. Reuters
              has traditionally concentrated on designing products for other parts
              of the financial services industry, particularly the sell-side.
              The Bridge acquisition is helping Reuters to enhance its offering
              and to achieve greater penetration of the important US institutional
              market.
            Investment
              Banking & Brokerage serves global, regional and boutique
              investment banks, brokerages, venture capital concerns and other
              similar businesses. Reuters delivers services for equities and fixed
              income trading and sales, and for the research and advisory functions.
              It also provides software, solutions and consultancy for enterprises.
            Corporates
              & Media includes long-standing business lines such as Reuters
              global, multimedia news services sold to the world's media markets
              and the more recently established professional information businesses
              such as commodities and energy and corporate research services.
              This segment is drawing on Reuters core strengths and competencies
              to identify new opportunities for growth across a wide range of
              new customer needs and new market sectors.
            The four new
              business segments are supported by five shared Centres of Excellence
              providing specialist services  Editorial, the Chief Technology
              Office, the Business Technology Group, Global Services and Shared
              Business Services. Local and regional business units around the
              world provide country-specific support and focus.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Products and
            services Reuters core business activity is the gathering and distribution of
            news, information and other content from multiple sources across the
            globe and the provision of technology to distribute, analyse, view
            and trade with information.
            Reuters receives
              current trading information from trading exchanges and over-the-counter
              markets, from over 5,000 financial market dealers and brokers and
              from electronic communications networks and specialist data vendors.
              Reuters own reporting staff gather and edit general, business and
              industry specific news in textual, video, photo and audio form from
              around the world.
            Reuters distributes
              its information primarily in the form of real-time and historical
              information services to financial professionals operating in the
              four customer segments. These products are delivered to customers
              through personal computer-based terminals or other workstation display
              software, through internet browsers and through information management
              systems.
            Reuters premium
              international information product is 3000Xtra which offers a highly
              sophisticated set of information services and tools to customers.
              Reuters Middle Tier products primarily focus on the needs of customers
              relating to individual geographic or asset-class markets. The principal
              Lower Tier offering is Reuters Investor which delivers Reuters information
              via the internet, enabling subscribers to integrate easily a tailored
              segment of Reuters news and market data into their own websites.
            In addition
              to its information products Reuters develops transaction products
              and other systems-based solutions for its customers in order to
              support and integrate their trading operations more fully. At the
              top end of the transaction product range is Dealing 3000, offering
              an electronic brokerage facility for foreign exchange dealing. In
              2002 a Lower Tier product, Reuters Dealing Link, will be released
              to meet the needs of the lower-volume market participants many of
              whom currently take only the Reuters information products.
            Reuters Consulting
              specialises in the implementation of Reuters products and services
              into third party and existing customer infrastructures, ensuring
              that solutions are tailored appropriately to deliver maximum benefits
              to each customer and providing the necessary level of integration
              support.
            Current product
              development priorities include the integration of some of the key
              Bridge capabilities into the Reuters product suite, particularly
              3000Xtra. In 2002 Reuters also expects to add instant messaging
              to its products as a collaboration tool designed to build communities
              around shared business interests and information flows, using industry
              standard technology to provide a peer-to-peer service. The system
              is targeted at the financial community to meet their particular
              need for real-time, secure, auditable, cost-effective communications
              channels.
            Straight through
              processing (STP) is one of Reuters key business priorities for 2002
              and beyond. The drive for efficiency and regulatory deadlines has
              made STP a priority for customers in every segment. As part of its
              STP strategy, in October 2001, Reuters formed Synetix, a joint venture
              with Capco, the global services and technology solution provider
              to the financial services industry, with the goal of bringing together
              the assets needed to develop a range of web-based data management
              services to offer Reuters customers the improved operational efficiency
              needed to support the transition to STP.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Instinet Group
            Incorporated Instinet
            is the world's largest electronic agency securities broker. Through
            its electronic platforms, Instinet brings buyers and sellers worldwide
            together so that they can trade equity and fixed income securities
            and access research products, providing them with price improvement
            for their trades, as well as information, reporting and decision-making
            tools.
            Instinet's customers
              can trade directly and anonymously with each other, thereby creating
              an internal liquidity pool, as well as with other investors in 40
              securities markets throughout the world. Affiliates of Instinet
              are members of 20 securities exchanges. Instinet's customers consist
              of institutional investors, such as mutual funds, pension funds,
              insurance companies and hedge funds, as well as securities brokers
              and dealers.
            In addition
              to execution of their equity securities trades on a global basis,
              Instinet offers its customers services that enhance their ability
              to achieve their trading objectives, including 24-hour trading,
              crossing services, block trading and program trading, as well as
              global clearance and settlement of trades and access to Instinet's
              research and those of other providers.
            Instinet provides
              a global electronic platform for trading fixed income securities.
              At present, Instinet is providing brokerage, execution and clearance
              and settlement services to many of the largest banks and securities
              dealers in approximately 750 US government, euro-denominated government
              and German mortgage bond (Pfandbriefe) securities.
            In May 2001
              Instinet completed an initial public offering (IPO) of approximately
              37 million shares of its common stock on the Nasdaq Stock Market.
              In October 2001, Instinet acquired 92% and in January 2002 the remaining
              8%, of ProTrader Group LP, a provider of advanced trading technologies
              and electronic brokerage services primarily for retail active traders
              and hedge funds, for consideration consisting of cash and shares.
              As a result of the IPO and the ProTrader acquisition, Reuters shareholding
              of Instinet is now approximately 83% on a primary basis.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Communications
            networks and equipment Reuters
            Group uses multiple communications networks, employing a complex variety
            of technologies, for distribution of its products. The Group is currently
            engaged in a major strategic initiative to migrate its principal product
            sets from the existing set of network infrastructures on to a single
            global internet-based network provided by Radianz. This will deliver
            greater resilience, speed, capability and, ultimately, offer lower
            cost of ownership.
            Reuters (excluding
              Bridge) has two global technical centres, two main technical centres
              and many smaller local data centres. Reuters data centres are linked
              by communications services provided by Radianz, using dedicated
              international communications circuits that rely on satellite links,
              optical fibre cables and coaxial cables. These circuits are leased
              by Radianz from various governmental and private telecommunications
              operators including Equant. Communications between data centres
              and Reuters subscribers are provided by Radianz in 20 countries
              and by Reuters directly or third parties elsewhere; they mainly
              use dedicated terrestrial circuits which are leased from telecommunications
              operators and are supplemented by a variety of other transmission
              systems. These include satellite-based networks for delivery of
              services to small dish receivers on customer premises.
            Click for further
              information regarding Radianz and the relationship between Radianz
              and Reuters.
            Reuters currently
              installs and provides first level maintenance for the majority of
              its clients' sites either directly or through sub-contractors. These
              installations are generally based on WinTel platforms. Increasingly
              clients are providing and maintaining their own hardware and Reuters
              applications and services are being integrated into customers' existing
              systems.
            As part of the
              Bridge acquisition Reuters acquired two global technical centres
              in St Louis, Missouri and a number of smaller distribution centres,
              some of which are maintained by SAVVIS Communications Corporation
              (Savvis) and, in Europe and Asia, by Moneyline Telerate.
            The network
              services agreements with Radianz and Savvis are important to Reuters
              capability to deliver its products and services to customers. Although
              Reuters takes reasonable steps to ensure continuity of service,
              any failure or interruption of such systems could have a significant
              effect on Reuters business (see 'Risk
              factors'). See Material
              contracts for a summary of these network services agreements
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Associates
            and investments
            Reuters also forms strategic relationships with other companies to
            exploit new and niche market opportunities or leverage value by bringing
            Reuters assets and core competencies together with those of other
            parties. These include:
            TIBCO Software
              Inc. (TSI) Headquartered in Palo Alto, California, TSI provides
              total business integration solutions delivering infrastructure software
              that enables businesses to integrate their business systems in real-time.
              In 1999 TSI completed an IPO of its common stock on the Nasdaq Stock
              Market. At 31 December 2001 Reuters held approximately 53% (42%
              fully diluted) of the outstanding shares of TSI, although its voting
              rights are restricted to 49% and it is therefore accounted for as
              an associated company.
            Reuters owns
              the underlying TIB intellectual property and technology that was
              in existence at 31 December 1996 and that is incorporated into many
              of TSI's products. Reuters licenses this technology to TSI pursuant
              to a license agreement. TSI owns all technology and related intellectual
              property rights independently developed by TSI since 1 January 1997,
              including enhancements and improvements to the licensed technology,
              which TSI itself licenses to Reuters pursuant to the license agreement.
            Radianz.
              In May 2000 Reuters and Equant Finance BV, established Radianz to
              develop a secure internet protocol network for use by the financial
              services industry, including Instinet. Reuters owns 51% of the company
              but shares voting control and does not consolidate Radianz for accounting
              purposes. Under the terms of agreement, in July 2000 Reuters transferred
              £63 million of telecommunications network assets into the new
              entity, along with approximately 400 staff and sold its existing
              telecommunications business, Reuters Connect Services, to the new
              company for £17 million in cash.
            Factiva.
              In 1999 Reuters and Dow Jones & Co. formed a joint venture,
              Factiva, to develop a new web-based global service to provide corporate
              news, information and research data for many categories of business
              professionals. By December 2001 Factiva was selling information
              from nearly 8,000 sources and 8,500 business websites to 1.5 million
              desktops. Information sources include Reuters and Dow Jones newswires
              in addition to national, regional and local newspapers and trade
              publications. The content includes information in 22 languages.
              Factiva also provides technology solutions to integrate content
              into companies' intranets or information portals. Reuters has invested
              approximately £23 million in this venture.
            Greenhouse
              Fund. The Reuters Greenhouse Fund was launched in 1995 to provide
              Reuters with early access to technology and other start-up companies.
              In August 2001, management of the Greenhouse Fund was outsourced
              to RVC, a newly-created fund management company formed by members
              of the Reuters team who had managed the Fund from its inception.
            See Operating
              and financial review for additional information concerning associates
              and strategic investments.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Marketing and
            distribution Reuters
            has traditionally been a business-to-business sales-driven organisation.
            The sales operation is divided into Focus Group accounts, which are
            managed globally by specific account teams, Consultative accounts,
            which are managed regionally by local sales teams and Business Direct
            accounts, which are managed from regional call centres.
            Much of Reuters
              marketing activity supports the sales channels and all customer-facing
              staff. These communication activities include production of supporting
              collateral, sales commission schemes, direct response advertising
              in industry publications, attendance at all key industry events
              globally and hosting Infoworld, a periodic large-scale Reuters event
              for customers in Europe. Specific events are also arranged for Focus
              Group accounts.
            Reuters is investing
              in a direct marketing and customer relationship management capability
              to support the sales and related support operations.
            The Reuters
              brand is valued as the leading global brand owned by a UK company
              according to the 2001 survey 'The World's Most Valuable Brands'
              by leading branding consultants, Interbrand. Reuters uses a number
              of channels to raise brand awareness and promote its products including
              Reuters magazine, reuters.com, sponsorship and Reuters Publishing,
              a book publishing venture with Pearson Education. Reuters has also
              invested in print advertising campaigns in key financial centres.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Subscribers Reuters
            Group products are generally billed by number of user accesses. Accesses
            are a measure of accesses to datafeeds, portable devices and terminals.
            The number of accesses at the end of each of the last three years
            are shown below:
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                       
|000s                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                       
|Information
            products                                                                                                                                                                                                                                                                       
|Dealing                                                                                                                                                                                                                                                                                                
|Instinet                                                                                                                                                                                                                                                                                               
|Bridge                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                       
|Total                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                       

|Principal
            capital expenditure Over the last three years, Reuters Group has made a number of acquisitions
            and has invested in several new and existing businesses including
            several joint ventures and the Greenhouse Fund portfolio. The principal
            acquisitions and investments (none of which exceeded a cost of £50
            million, save where otherwise stated) were:                                                                                                                                                                                                                                                                                                                                                                                                                             
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|In October 2001 Reuters sold its interest in VentureOne Corporation,
              a provider of information and research for the venture capital investment
              industry, to Wicks Business Information, LLC for a net consideration
              of £18 million in cash.
            Total capital
              expenditure for acquisitions, investments in associates and other
              investments during 2001 was £450 million (2000: £242 million,
              1999: £76 million). Additional investment in the Greenhouse
              Fund during 2001 totalled £15 million (2000: £184 million,
              1999: £61 million).
            Further information
              relating to investments, acquisitions, joint ventures and disposals
              in 2001 is provided in note
              16 and note 31.

|Competition Reuters
            Group faces competition in all market sectors and geographical areas
            in which it operates.
            Competing information
              products for the financial markets are offered by Bloomberg LP (Bloomberg),
              Quick Corporation of Japan, Telekurs AG (Switzerland), Thomson Financial
              and Moneyline Telerate (formerly owned by Bridge). In connection
              with the Bridge acquisition, Reuters agreed to provide Moneyline
              Telerate with various network, software development, data management,
              customer support, administrative and other transitional services
              and granted to Moneyline Telerate certain intellectual property
              and software licenses, and Moneyline Telerate agreed to provide
              Reuters with various field support, network and administrative services
              and co-location rights, in each case for a term not to exceed four
              years (depending upon the service in question).
            The Lipper funds
              information business competes with Morningstar Inc, the Micropal
              unit of Standard & Poor's, a division of the McGraw-Hill Companies
              Inc, Value Line Inc and Thomson Corporation's CDA Weisenberger.
            Reuters foreign
              exchange spot matching services compete with the Electronic Broking
              Service. Reuters money and foreign exchange transaction products
              also compete with voice brokers in the relevant markets.
            Competitors
              in the supply of market data systems include Misys plc, Sunguard
              Data Systems Inc and CSK Software and a large number of other vendors.
              Competition for the supply of company, financial and industry specific
              information is fragmented widely among traditional information providers
              such as Bloomberg and Dow Jones, among online exchanges such as
              ICE and NYMEX and among niche players with specialist tools or local
              market coverage such as CQG and MetalBulletin.
            Reuters main
              competitors in the supply of news to the media are Associated Press,
              Agence France Presse, and Bloomberg News.
            Instinet competes
              with, among others, traditional and electronic trading methods in
              use on US and international securities exchanges, Nasdaq's trading
              services that enable members of the National Association of Securities
              Dealers, Inc. (the NASD) to trade electronically in Nasdaq-quoted
              stocks, the Institutional XPress and NYSeDirect+ products of the
              New York Stock Exchange and other broker-dealers (including many
              of its own customers) which offer competing services; as well as
              electronic communication networks, including Bloomberg Tradebook
              LLC, a subsidiary of Bloomberg, and the Island System.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Government
            regulation Reuters
            Limited, the principal operating company in the Group, is regulated
            as a service company by the UK Financial Services Authority (FSA)
            under the Financial Services and Markets Act 2000.
            The use of communications
              links is subject to government licensing in several countries.
            Reuters Transaction
              Services Limited (RTSL), through which Reuters operates Dealing
              2000-2 and Dealing 3000 Spot Matching, is subject to regulation
              by the FSA equivalent to that applied to broking participants in
              the London foreign exchange market. The operations of RTSL's Singapore
              branch are subject to oversight by the Monetary Authority of Singapore
              and those of the Hong Kong branch by The Hong Kong Monetary Authority.
              Reuters InterTrade Direct SA, through which Reuters operates Reuters
              InterTrade Direct, is also regulated as a service company by the
              FSA under the Financial Services and Markets Act 2000.
            As registered
              broker-dealers, members and self-regulatory organisations in the
              US and other countries in which they operate and (in the case of
              Instinet) as a registered alternative trading system in the US,
              Instinet and Bridge Trading Company are subject to substantial regulation
              under the US securities laws and their equivalents in other countries,
              including but not limited to net capital requirements. The regulatory
              framework generally applies directly to Instinet and Bridge Trading
              affiliates that are registered or licensed in various jurisdictions.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Corporate structure Reuters
            Group conducts its business through a portfolio of companies including
            wholly and partly owned subsidiaries, joint ventures and associated
            companies. Information regarding the most significant companies is
            contained in note 32. The ultimate
            holding company for the Group is Reuters Group PLC, which was incorporated
            in England and Wales on 24 December 1996 and is listed on the London
            Stock Exchange and Nasdaq. Reuters registered office and corporate
            headquarters are located at 85 Fleet Street, London EC4P 4AJ (telephone:
            +44 (0)20 7250 1122).
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Property,
            plant and equipment Reuters
            tangible fixed assets are primarily in the form of computer systems
            equipment that form the infrastructure for the company's business.
            This equipment is distributed across the company's global sites with
            greater concentration at the major global and regional technical centres.
            A reducing proportion of the equipment is located at customer sites
            around the world.
            Reuters Group
              principal facilities are:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|The
            London properties and the New York technical centre are situated on
            land owned by Reuters, whereas the buildings in Geneva and Singapore
            were built by Reuters on leased land. The leases, including periods
            covered by options to extend, expire in 2095 and 2050, respectively.
            The Reuters Building at 3 Times Square is owned and developed jointly
            by Reuters and Rudin Times Square Associates LLC. In May 2001 Reuters
            leased 692,170 sq. ft. from the venture and subleased 360,392 sq.
            ft. to Instinet. The principal part of the Reuters lease will expire
            in 2021, with an option to extend. The Instinet sublease also expires
            in 2021. Reuters secured its lease position with a $120 million letter
            of credit. Of the St Louis corporate office buildings, four are owned
            (209,500 sq. ft.) and three are leased (53,700 sq. ft.) One of the
            global technical centres in St.Louis is located in an owned facility
            and the other is located in one of the leased facilities, whose lease
            expires in 2004. The 5.4 acre parcel of land is currently under ground
            lease to Savvis for a term expiring in 2099.

|Legal proceedings Reuters
            Group is not aware of any legal or arbitration proceedings that may
            have, or have had in the 12 months prior to the date of this document,
            a significant effect on the Group's financial position or profitability.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|
|
|

|DIRECTORS' REPORT
|-----------------

|The directors
            submit their annual report and audited financial statements for the
            year ended 31 December 2001.
|--------------------------------------------------------------------------------------------------------------------------------------

|Activities The Group's
            activities are described in the company
            information. A detailed review of activities during 2001 and likely
            future developments is given in the company
            information and in the operating
            and financial review.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Share capital
            and dividends Details
            of the changes in the authorised and called-up share capital are set
            out in note 26 and note 27.
            Details of significant shareholdings are given in the major
            shareholders section.
            
            An interim dividend
              of 3.85 pence per ordinary share was paid on 5 September 2001. The
              directors recommend a final dividend of 6.15 pence per ordinary
              share, giving a total of 10.0 pence per ordinary share for the year
              (2000: 16.0 pence). Subject to shareholders' approval at the annual
              general meeting to be held on 23 April 2002, the final dividend
              will be paid on 25 April 2002 to members on the register at the
              close of business on 15 March 2002.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Employees The total
            number of employees at 31 December 2001 was 19,429 (31 December 2000:
            18,082). Details of average number of employees by segment are given
            in the employee information section.
            
            It is Reuters
              Group policy that selection of employees, including for recruitment,
              training, development and promotion, should be determined solely
              on their skills, abilities and other requirements which are relevant
              to the job and in accordance with the laws in the country concerned.
              Reuters equal opportunities policy is designed to ensure that disabled
              people are given the same consideration as others and, depending
              on their skills and abilities, enjoy the same training, development
              and prospects as other employees.
            To provide employees
              with the information they need to understand and achieve our business
              objectives, we make extensive use of the company's intranet as a
              communication tool. Meetings are regularly held between management
              and employees' and union representatives so that the views of employees
              can be taken into account in making decisions which may affect their
              interests. Reuters European Employee Forum operates as a pan-European
              works council. The Chief Executive and other executive directors
              meet with the Forum regularly. We undertake regular employee surveys
              to evaluate morale and to identify any employee issues that need
              to be addressed. The results are communicated throughout the Group.
            The directors
              record with deep regret the deaths of Anil Bharvaney, Alex Braginsky,
              Geoff Campbell, Doug Gurian, Chris Hanley and Steve Tompsett who
              died in the World Trade Center on 11 September and Harry Burton
              and Azizullah Haidari who were murdered in Afghanistan on 19 November.
            The Board values
              the courage and professionalism shown by employees operating in
              zones of conflict. Reuters has reviewed the adequacy of its policies,
              training and procedures for employees generally and for those working
              in dangerous places in particular. Reuters has reaffirmed the standing
              instructions to employees to avoid risks wherever possible and for
              hostile environment training and protective equipment to be provided
              to all employees who may need them.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Charitable
            contributions Reuters
            made a grant of £4.0 million in 2001 to fund the educational
            and humanitarian work of Reuters Foundation, the Group's charitable
            trust (£3.2 million in 2000). In addition, Reuters regional management
            made direct charitable donations of £2.4 million in cash and
            £13.7 million in kind, which includes the value of information
            services, equipment and employees' time provided free of charge for
            educational and humanitarian purposes. The overall total of Group
            charitable giving, in cash and in kind, amounted to £20.1 million
            in 2001 or 12.7% of pre-tax profit (£18.1 million or 2.7% in
            2000).
            More information
              on the work of Reuters Foundation is contained in the annual review
              and on the Foundation's website: www.foundation.reuters.com.
              Information about Reuters corporate social responsibility activities
              is contained in the annual review and on Reuters website: www.reuters.com/csr.
            No political
              contributions are made.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Creditor payment
            terms It is the
            Group's normal procedure to agree terms of transactions, including
            payment terms, with suppliers in advance. Payment terms vary, reflecting
            local practice throughout the world. It is Group policy that payment
            is made on time, provided suppliers perform in accordance with the
            agreed terms. Group trade creditors at 31 December 2001 were equivalent
            to 32 days' purchases during the year.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Authority for
            company to purchase own shares At the annual
            general meeting held on 24 April 2001, members renewed the company's
            authority under section 166 of the Companies Act 1985 to make purchases
            on the London Stock Exchange of up to 142,914,752 ordinary shares
            at a price of not more than 5% above their average middle market quotation
            in the London Stock Exchange Daily Official List for the five business
            days prior to the date of purchase, nor less than 25 pence each.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Auditors Resolutions
            will be placed before the annual general meeting to reappoint PricewaterhouseCoopers
            as auditors and to permit the directors to fix their remuneration.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Directors The names
            and biographical details of current directors are given in the directors
            and senior management section. A non-executive director is not
            required to hold ordinary shares in order to qualify as a director.
            The Remuneration Committee has agreed that each executive director
            and certain senior managers should be required to accumulate and maintain
            a personal holding of Reuters shares worth approximately twice his
            salary within five years of becoming subject to the policy. A director
            not holding any shares may nevertheless attend and speak at general
            meetings of the company. A statement of directors' remuneration and
            their interests in shares and options of the company and its subsidiaries
            is set out in the report
            on remuneration and related matters.

            The following
              changes to the Board composition occurred during 2001. In July,
              Sir Peter Job and Jean-Claude Marchand retired from the Board and
              they retired from the company in July and September respectively.
              Rob Rowley retired from the Board and the company in December. Geoffrey
              Weetman was appointed as an executive director in July. Sir
              John Craven, Charles
              Sinclair, Dennis Malamatinas
              and Philip Green retire
              by rotation and are proposed for re-election as directors at the
              forthcoming annual general meeting. Geoffrey
              Weetman, having been appointed by the Board since the last annual
              general meeting, also retires and is proposed for re-election at
              the annual general meeting. Biographical information on these directors
              is set out in their individual sections. As non-executive directors,
              Sir John Craven, Charles
              Sinclair and Dennis
              Malamatinas do not have service contracts. Details of the remuneration
              of the non-executive directors and information on the service contract
              and remuneration of Geoffrey
              Weetman are set out in the report
              on remuneration and related matters.
            By order of
              the BoardRosemary MartinRosemary MartinCompany Secretary 
              15 February 2002
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|
|
|

|DIRECTORS AND SENIOR MANAGEMENT
|-------------------------------

|The
            directors and senior managers of Reuters Group are:
|-------------------------------------------------------------------
|                                                                   
|Name                                                               
|                                                                   
|Directors                                                          
|Sir Christopher Anthony Hogg                                       
|Thomas
            Henry Glocer                                    
|Philip
            Nevill Green                                    
|David
            John Grigson                                     
|Geoffrey
            Arthur Weetman                                
|Sir
            John Anthony Craven                                
|Edward
            Kozel                                           
|Dennis
            Malamatinas                                     
|Roberto
            G Mendoza                                      
|Richard
            Lake Olver                                     
|Charles
            James Francis Sinclair                         
|Ian
            Charles Strachan                                   
|                                                                   
|Senior Managers                                                    
|Graham
            Albutt                                          
|Douglas
            Atkin                                          
|Sarah
            Dunn                                             
|Marc
            Dualé                                             
|Christopher
            Hagman                                     
|Julie
            Holland                                          
|Alexander
            Hungate                                      
|Robert
            Jeanbart                                        
|Geert
            Linnebank                                        
|Phillip
            Lynch                                          
|Rosemary
            Martin                                        
|Gregory
            Meekings                                       
|Stephen
            Mitchell                                       
|Jane
            Platt                                             
|Michael
            Sayers                                         
|David
            Ure                                              
|Devin
            Wenig                                            
|                                                                   

|1Non-executive director. Directors Sir Christopher
            Hogg. Non-executive Chairman of Allied Domecq PLC since 1996.
            Non-executive director of GlaxoSmithKline plc since 1993 and Air Liquide
            SA since May 2000. Non-executive Chairman of the Royal National Theatre
            since 1995. Former member of the International Council of JP Morgan
            (1993-2000). Former Chairman of Courtaulds PLC from 1980 to 1996 (Chief
            Executive 1979-1991). Former non-executive director of the Bank of
            England (1992-1996). Member of the Audit, Remuneration and Nomination
            Committees. Age 65.
            
            Tom Glocer.
              Chief Executive. Former Chief Executive Officer Reuters Information
              (2000) and President & Senior Company Officer, Reuters America
              (1998-2000). Chief Executive Officer, Reuters Latin America (1997-1998).
              Joined Reuters in 1993 and served in various capacities in Reuters
              legal department (1993-1997). Prior to joining Reuters he was a
              mergers and acquisitions lawyer with Davis Polk & Wardwell in
              New York, Paris and Tokyo. Non-executive director of Instinet Group
              Incorporated and of the New York City Investment Fund. Member of
              the Corporate Council of the Whitney Museum and of the Leadership
              Champions Group (Education) of Business in the Community. Age 42.
            
            Philip Green.
              Chief Operating Officer. Joined Reuters in September 1999 as Chief
              Executive, Reuters Trading Solutions. Former Chief Operating Officer,
              Europe and Africa, at DHL International, based in Brussels. Joined
              DHL in 1990 as Regional Director, Northern Europe having previously
              worked in both the UK and US. Non-executive director of SKF AB and
              a director of Radianz Limited. Member of the Advisory Board of the
              London Business School. Age 48.
            David Grigson.
              Chief Financial Officer. Joined Reuters in August 2000 from Emap
              plc where he was Group Finance Director and Chairman of Emap Digital.
              Formerly held senior finance roles in the UK and US at Saatchi and
              Saatchi Plc (1984-1989). Held a number of financial positions at
              Esso UK from 1980 to 1984. Also a non-executive director of Instinet
              Group Incorporated. Age 47.
            
            Geoffrey
              Weetman.Group Human Resources Director. Joined Reuters in 1973
              as a regional accountant based in Switzerland. Following a period
              in London, he moved to Asia and held a number of senior positions
              in Hong Kong and Japan, becoming Managing Director, Reuters Asia,
              in 1992. He returned to London in 1997 as Managing Director of Media
              and New Business Ventures prior to his appointment as Director of
              Human Resources in 1998. Age 55.
            
            Sir John
              Craven. Non-executive Chairman of Lonmin Plc since 1997. Non-executive
              director of Gleacher & Co LLC, and Fleming Family & Partners.
              Former member of the Board of Managing Directors of Deutsche Bank
              AG and former executive Chairman of Morgan Grenfell Group plc (1989-1997).
              Former non-executive director of Rothmans International BV, Ducatti
              SpA and Société Générale de Surveillance
              SA. Member of the Audit Committee and Chairman of the Nomination
              Committee. Age 61.
            Ed Kozel.
              Managing Director of Open Range Ventures LLC, a private venture
              capital firm active in telecom, networking and internet start-ups.
              Non-executive director of Cisco Systems, Inc., where he worked from
              1989-2000 in a number of roles, including Chief Technology Officer
              and senior vice president for business development. Also a director
              of Yahoo!, TIBCO Software Inc., Datachannel and Telegis. Prior to
              1989 he worked with SRI International in California. Member of the
              Remuneration and Nomination Committees. Age 46.
            
            Dennis Malamatinas.
              Chairman, Priceline Europe. Former Chief Executive Officer of Burger
              King Corporation (1997-2000). From 1979 to 1997 he held a number
              of senior general management roles with the Procter & Gamble
              Company, PepsiCo and Grand Metropolitan plc (now Diageo plc). He
              was an executive director of Diageo plc from 1998 to 2000. Member
              of the Remuneration and Nomination Committees. Age 46.
            
            Roberto Mendoza.
              Chairman of Egg plc and non-executive director of Prudential plc,
              ACE Limited and Vitro SA. Formerly Vice-Chairman and director of
              JP Morgan & Co Inc. (1990-2000) and Managing Director of Goldman
              Sachs & Co (2000). Joined JP Morgan in 1967 with successive
              assignments in London and New York. Member of the Nomination and
              Remuneration Committees. Age 56.
            Dick Olver.
              An executive director of BP p.l.c. and Chief Executive Officer of
              BP Exploration & Production Division since 1998. A member of
              the Institute of Civil Engineers, he has worked for BP since 1973.
              A governor of New Hall School. Chairman of the Audit Committee and
              a member of the Nomination Committee. Age 55.
            Charles
              Sinclair. Group Chief Executive of Daily Mail and General Trust
              plc since 1988. Joined Associated Newspapers in 1975 and held a
              number of roles prior to its merger into the Daily Mail Group in
              1988. Non-executive director of Euromoney Institutional Investor
              PLC and Schroders plc. Fellow of the Institute of Chartered Accountants.
              Chairman of the Remuneration Committee and a member of the Nomination
              Committee. Age 53.
            Ian Strachan.
              Non-executive director of Transocean Sedco Forex Inc., Johnson Matthey
              plc, Harsco Corporation and Instinet Group Incorporated. Former
              Deputy Chairman of Invensys plc (1999-2000) and Chief Executive
              Officer of BTR plc (1996-1999). Former Deputy Chief Executive Officer
              (1991-1995) and Chief Financial Officer (1987-1991) of Rio Tinto
              plc. Also a former non-executive director of Commercial Union plc
              (1990-1996). Member of the Audit and Nomination Committees. Age
              58.
            Senior Managers Graham
            Albutt.President  Business Technology Group. Graham joined
            Reuters in London in 1987. Held various posts and in May 2001, was
            appointed Business Integration Leader, developing the structure and
            business model for the integration of the recently acquired Bridge
            assets.
            
            Douglas Atkin.
              President and Chief Executive Officer, Instinet Group Incorporated
              since 1998. Doug joined Instinet in 1984. He is a director of the
              NYC Partnership and a member of the Young Presidents Organization
              (YPO) International and the US Council for Competitiveness.
            Marc Dualé.
              Managing Director  Asia. Marc joined Reuters in January 2002.
              Previously worked for DHL Worldwide Express, where he became Chief
              Operating Officer for the Asia Pacific Middle East Region in 1999.
              Worked for American Express in New York and Paris for seven years
              and was also a consultant at The Boston Consulting Group in Chicago.
            Sarah Dunn.
              President  Corporates & Media Services since September
              2001. Sarah joined Reuters in 1986 in the UK and transferred to
              Reuters America in 1995 as Vice President, Marketing. She became
              Chief Executive Officer of Reuters Lipper subsidiary in January
              2000.
            Christopher
              Hagman. Managing Director  Continental Europe, Middle
              East & Africa, since April 2001. Chris joined Reuters in 1987
              based in Sweden and has held various senior sales and general business
              management positions in Sweden, Netherlands and the UK.
            Julie Holland.
              Managing Director  Treasury Services since September 2001.
              Julie joined Reuters in 1975 and held a series of sales and marketing
              roles. Julie was appointed Managing Director of Reuters UK and Ireland
              in 1996.
            Alexander
              Hungate. Chief Marketing Officer, President  Focus Group
              Accounts since September 2001. In 1993, Alex joined Reuters in London
              as a business development executive. From 1996 to 1998, he was Executive
              Vice President of Reuters Marketing before being appointed Chief
              Operating Officer, Reuters America in 1999 and Chief Executive Officer,
              Reuters America in 2000. Also a director of British America Business
              Inc.
            Robert Jeanbart.
              Managing Director  UKI since September 2001. Robert joined
              Reuters in 1987 and held a number of product management and marketing
              roles before becoming Director Risk Management Systems in 1994 and
              then Managing Director, Applications and Enterprise Solutions in
              2000.
            Geert Linnebank.
              Editor-in-Chief. Geert became Editor-in-Chief in 2000 having held
              various editorial roles. Before he joined Reuters he was a correspondent,
              EC and Belgium, AP-Dow Jones  Brussels.
            Phillip Lynch.
              Chief Executive Officer  America since June 2001. Phillip
              joined Reuters in Boston in 1988 as a sales executive and held several
              sales management positions until his appointment in 1996 as Business
              Manager of the New York region. Also a director of WorldStreet Corporation.
            Rosemary
              Martin. Company Secretary and Director  Group Links. Rosemary
              joined Reuters in 1997 as Deputy Company Secretary. Former Partner
              in London law firm Rowe & Maw.
            Gregory Meekings.
              Managing Director Global Services. Greg joined Reuters in 1986 and
              was appointed Managing Director  Global Services in January
              2001. Prior to joining Reuters, he was Services Director at First
              Computer, Managing Director at Calibre Technology, Sales Director
              at Braid Systems Ltd and Business Manager of Logica's Industrial
              Automation Systems division.
            Stephen Mitchell.
              Head of Risk Management and General Counsel since September 2001.
              Stephen joined Reuters in 1996 as Deputy General Counsel. Acted
              as General Counsel for Reuters America during 1997. Company Secretary
              1998 to 1999 when he was appointed General Counsel. Former Partner
              in Australian law firm Freehill, Hollingdale & Page.
            Jane Platt.
              Managing Director  Asset Management. Jane joined Reuters from
              Barclays in 2001, where she had been Chief Executive of Barclays
              Stockbrokers and Barclays Bank Trust Company.
            Michael Sayers.
              Chief Technology Officer. Michael joined Reuters London development
              group in 1977 and in late 1998 was appointed Chief Technology Officer.
            David Ure.
              Strategic Adviser to the Board and non-executive Chairman of Radianz.
              Former executive director (1989-2000) responsible for group technical
              strategy and Reuters Trading Solutions Division. From 1992 to 1998,
              he was responsible for group marketing and technical policy. Prior
              to that he headed Reuters operations in Europe, Middle East and
              Africa. David joined the company in 1968 as a trainee journalist.
              Non-executive director of TIBCO Software Inc., WebEx Communications,
              Inc., Multex Investor Japan Limited and Multex Investor Europe Limited.
            Devin Wenig.
              President  Investment Banking & Brokerage Services since
              September 2001. Devin joined Reuters in 1993 as Corporate Counsel,
              Reuters America and held a number of senior management positions
              before being appointed President, Reuters Information in January
              2001. Also a director of Multex Inc., Sila Communications Limited,
              Aether Technologies Inc. and Nastech Pharmaceutical Company.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|
|
|

|CORPORATE GOVERNANCE
|--------------------

|Reuters Group
            is committed to high standards of corporate governance and has complied
            throughout 2001 with the principles of corporate governance set out
            in Section 1 of the Combined Code save that the service contracts
            of Sir Peter Job, Rob Rowley and Jean-Claude Marchand, each of whom
            retired during 2001, were terminable by the company on two years'
            notice and David Grigson's appointment can be terminated on one year's
            notice after an initial period ending in July 2002.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|The Board and
            executive The Board
            is responsible for the Group's system of corporate governance and
            is ultimately accountable for the Group's activities throughout the
            world. The directors are bound by the company's articles to pay due
            regard to the Reuters Trust Principles. See the Principles
            and other relevant information. The Board met eight times in
            2001. As at 15 February 2002, there were four executive directors
            and eight independent non-executive directors, including the Chairman.
            
            The Board and
              its committees have formal terms of reference setting out their
              authorities and duties. The directors are supplied, in a timely
              fashion, with the information they need by way of reports and briefings
              to the Board. They also have access to the Company Secretary and
              they may take independent professional advice at the company's expense,
              although no such advice was sought during 2001. Sir John Craven
              is the senior independent non-executive director.
            Non-executive
              directors are appointed for a term of six years, subject to agreement
              after three years that the term should continue. All directors are
              subject to election by shareholders at the first opportunity after
              their appointment and to re-election thereafter at intervals of
              no more than three years. Non-executive directors receive a series
              of briefings about Reuters when they join the Board. Training for
              executive directors is available as appropriate and a training programme
              is run for directors of subsidiaries.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|The Board delegates
              specific responsibilities to certain committees. As at 15 February
              2002 these comprised:
            The Group
              Management Committee (GMC): this committee was created in July
              2001 as the successor to the Group Executive Committee. The GMC
              is chaired by the Chief Executive and is authorised to implement
              strategy and to manage the Group. The GMC comprises the executive
              directors and David Ure (Chairman of Radianz and adviser to the
              Reuters Group PLC Board). Assisting the GMC on strategy issues is
              a group of 23 senior executives comprising the Group Strategy Committee
              (chaired by Tom Glocer). The Group Operations Committee (comprising
              18 senior executives and chaired by Philip Green) manages the business's
              operations.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|The Audit Committee:
            this committee reviews the processes for financial reporting, internal
            control, risk assessment, audit and compliance assurance, the independence
            of the company's internal and external auditors and the effectiveness
            of the company's system of accounting, its internal financial controls
            and the internal and external audit functions. Comprising Dick Olver
            (Chairman), Sir John Craven, Ian Strachan and Sir Christopher Hogg,
            the committee meets at least twice a year with the Chief Executive,
            the Chief Financial Officer, other officers as required and the auditors.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|The Remuneration
            Committee: this committee's remit is to determine specific remuneration
            packages for each of the executive directors and any other remuneration
            issues which affect the interests of shareholders, in particular remuneration
            or option plans using shares. The committee meets at least four times
            a year. Its members are Charles Sinclair (Chairman), Ed Kozel, Dennis
            Malamatinas, Roberto Mendoza and Sir Christopher Hogg.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|The Nomination
            Committee: this committee, which meets when required, comprises
            the eight non-executive directors and is chaired by Sir John Craven.
            It makes decisions about future appointments of directors, the Chairman
            and the Chief Executive. A director may not attend or be involved
            in any decision concerning him or his successor.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Relations with
            shareholders The executive
            directors meet regularly with institutional shareholders and analysts.
            Investor relations departments in London and New York are dedicated
            to improving communications between the company and its shareholders.
            The company's annual general meeting is used as an opportunity to
            communicate with private investors. At its annual general meeting
            the company announces the level of proxies lodged on each resolution
            and the balance for and against the resolution after the resolution
            has been voted on by a show of hands. The results of voting at the
            annual general meeting in 2002 will be available on the company's
            website: www.reuters.com.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Directors'
            responsibilities, internal controls and financial reporting The directors'
            responsibilities and the company's process for internal controls and
            financial reporting are set out in the Statement
            of directors' responsibilities.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|
|
|

|REPORT ON REMUNERATION AND RELATED MATTERS
|------------------------------------------

|Remuneration
            policy
            At Reuters the policy framework for senior executive pay and the specific
            packages for the executive directors are set by the Remuneration Committee.
            The five non-executive directors who make up the committee under the
            chairmanship of Charles Sinclair are identified in the Corporate
            governance section. Their approach is based on the following principles:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                               

|Executive directors During 2001,
            key factors in the committee's work were the need to secure a smooth
            transition for the new management team and to support the organisational
            change programme. Sir Peter Job retired in July 2001 and the committee
            approved terms for the early retirements of Jean-Claude Marchand and
            Rob Rowley taking due account of their significant contribution to
            the Group over many years. New service contracts were agreed with
            the incoming Chief Executive, Tom Glocer, who agreed to relocate from
            the USA during the year, and Geoffrey Weetman who was appointed to
            the Board on 23 July 2001.
            In formulating
              pay packages for the executive directors, the committee receives
              comparator group information and assistance from external remuneration
              consultants. During 2001 the committee moved away from using salary
              surveys based only on the larger FTSE 100 companies and defined
              a comparator group that it believes more accurately reflects Reuters
              recruitment environment. It contains a mix of over 25, predominantly
              media and technology, companies, including a number of international
              corporations.
            Salaries for
              2001 were reviewed in the light of the management changes which
              took effect during the year. As part of the company's current programme
              of cost reductions, the executive directors elected that their base
              salaries and those of certain other senior executives should not
              be increased for 2002.
            In 2001, the
              executive directors were eligible for an annual bonus, with a maximum
              level of 100% of base salary for Philip Green, David Grigson and
              Geoffrey Weetman and 125% in the case of Tom Glocer. The other executive
              directors who served during the year were eligible for an annual
              bonus of up to 70% of base salary. Bonus targets were set on a sliding
              scale and included a mix of financial and strategic measures: 50%
              of bonus potential was split equally between budgeted normalised
              profit before tax and revenue growth, and the remaining 50% related
              to individual and team strategic priorities, covering areas such
              as margin growth, innovation, organisational change and the Business
              Transformation programme. A pro-rata bonus was awarded to Jean-Claude
              Marchand on his retirement in September. In February 2002 the committee
              considered 2001 performance relative to the specified targets and
              awarded bonuses reflecting the good progress made on key strategic
              objectives. No payment was made in respect of the profit and revenue
              measures.
            The executive
              directors also participate in a discretionary share option plan
              (DSOP) and long-term incentive plan (LTIP) designed to reward longer-term
              performance. These schemes are summarised in the Long-term
              plans benefiting executive directors section.
            A total of 906,984
              DSOP options were granted to Tom Glocer, Philip Green, David Grigson
              and Geoffrey Weetman in June 2001. These options will vest on the
              third anniversary of grant, provided there has been an average increase
              in normalised earnings per share of at least 3% per annum, in real
              terms, during the intervening period. In future years, DSOP options
              will be granted to the executive directors in two tranches in February
              and August.
            In June 2001,
              LTIP awards based on 100% of salary were granted to all the executive
              directors except for Tom Glocer, who received an award of 174,451
              shares (approximately 300% of his salary). The vesting of these
              LTIP awards is conditional upon the company's total shareholder
              return exceeding the average return of the other FTSE 100 companies
              over the performance period. The relative ranking of the company
              at the end of the period determines the extent to which the awards
              will vest. The duration of the performance period is normally three
              years but may be extended to a maximum of five years. Vested shares
              must be retained until at least five years from their initial allocation.
            The committee
              has agreed that each executive director and certain senior managers
              should be required to accumulate and maintain a personal holding
              of Reuters shares worth approximately twice his or her salary, within
              five years of becoming subject to the policy. These shares may be
              accumulated through the retention of shares acquired under company
              share plans.
            In recognition
              of their service to Reuters, the committee confirmed that the existing
              LTIP participation rights of the three retiring directors will continue
              until they vest or lapse and will remain subject to the normal retention
              requirement.
            Prior to becoming
            a director Geoffrey Weetman was a participant in the company's performance-related
            share plan which is open to senior managers who do not participate
            in the LTIP. He received an award of shares in 2001 but will not receive
            any further allocations under that plan. See
            details of all outstanding awards held by the executive directors
            under company share plans.
            The executive directors also received company benefits in the form
              of a company car (or a cash allowance); life and prolonged disability
              insurance; and healthcare insurance. Philip Green and David Grigson,
              who are both subject to the pensions earnings cap, each receive
              a supplementary retirement allowance in addition to the contributions
              made on their behalf by Reuters to the Reuters Retirement Plan.
              Under the terms of his relocation agreement the company provides
              accommodation in the UK for Tom Glocer and met his relocation costs
              in 2001. In common with all employees, the executive directors are
              eligible to participate in the save-as-you-earn share scheme.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Service contracts Tom Glocer
            has a service contract normally terminable by him on 90 days' notice
            or, with good reason, on 30 days' notice. The company may terminate
            without cause on 30 days' notice. In the event of termination by Tom
            Glocer with good reason or by Reuters without cause, on or before
            1 July 2003, he is entitled to a compensation payment equal to twice
            the sum of his basic annual salary and an estimated annual bonus calculated
            by reference to the highest bonus percentage received in the previous
            three years. If his contract is terminated after 1 July 2003 the compensation
            payment is reduced in equal tranches for each year down to a minimum
            of his annual salary and bonus in the case of termination after 1
            July 2005. In the event of termination at any time by Reuters without
            cause, or by Tom Glocer with good reason, he retains the benefit of
            any outstanding share plan awards as if his employment had not ceased.
            In addition, Tom Glocer and his family retain the life assurance,
            medical and dental benefits provided by Reuters for one year following
            termination.
            The contracts
              of the other three executive directors can be terminated on one
              year's notice, subject in the case of David Grigson to an initial
              period of two years expiring at the end of July 2002. The arrangements
              with these three executive directors provide that any termination
              payment will not exceed an amount equal to the sum of the director's
              annual salary, bonus and 12 months' pension contributions paid by
              the company.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Non-executive
            directors The Chairman
            receives an annual fee of £262,500 together with the use of a
            company car, private medical cover, life and prolonged disability
            insurance and pension benefits. The other non-executive directors
            each receive a fee of £35,000 per annum determined by the shareholders
            in general meeting. A further £10,000 per annum is paid to each
            non-executive director who chairs a committee of the Board. Non-executive
            directors do not have service contracts and are appointed for an initial
            period of six years, subject to review after three years.
            Fees paid to
              Ian Strachan include £46,875 in respect of his position as
              a non-executive director of Instinet. He also received from Instinet
              2,632 restricted shares which vested in September 2001, and 4,153
              restricted shares which will vest in September 2002. In each case
              the vesting period was not more than one year.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Directors'
            remuneration                                                      |                                           |            |                           |                                            |                        |                        
|---------------------------------------------------------------------------------------- | ----------------------------------------- | ---------- | ------------------------- | ------------------------------------------ | ---------------------- | -----------------------
|                                                                                         | 2001                                      | 2000      
|                                                                                        
|                                                                                         | Salary/
            fees
            £000 | Bonus3£000 | Benefits
            £000 | Other
            amounts
            £000 | Total
            £000 | Total7
            £000
|                                                                                        
|Chairman:                                                                               
|Sir
            Christopher Hogg                                                         | 263                                       |           | 11                        |                                           | 274                    | 259                    
|                                                                                        
|Non-executive
            directors:                                                    
|Sir
            John Craven                                                              | 45                                        |           |                          |                                           | 45                     | 35                     
|Ed
            Kozel                                                                     | 35                                        |           |                          |                                           | 35                     | 27                     
|Dennis
            Malamatinas                                                           | 35                                        |           |                          |                                           | 35                     | 35                     
|Roberto
            Mendoza                                                              | 35                                        |           |                          |                                           | 35                     | 35                     
|Dick
            Olver                                                                   | 45                                        |           |                          |                                           | 45                     | 42                     
|Charles
            Sinclair                                                             | 45                                        |           |                          |                                           | 45                     | 45                     
|Ian
            Strachan                                                                 | 82                                        |           |                          |                                           | 82                     | 44                     
|                                                                                        
|Executive
            directors:                                                        
|Tom
            Glocer                                                                   | 815                                       | 510        | 2151                      | 5252                                       | 2,065                  | 450                    
|Philip
            Green                                                                 | 410                                       | 204        | 120                       |                                           | 734                    | 592                    
|David
            Grigson                                                                | 384                                       | 192        | 65                        |                                           | 641                    | 270                    
|Geoffrey
            Weetman (appointed 23 July 2001)                                    | 164                                       | 72         | 8                         |                                           | 244                    |                       
|                                                                                        
|Directors
            leaving the Board in 2001:                                        
|Sir
            Peter Job (retired 31 July 2001)                                         | 420                                       | 132        | 16                        | 824                                        | 650                    | 1,031                  
|Jean-Claude
            Marchand (retired 15 September 2001)                             | 276                                       | 192        | 30                        | 8034&5                                     | 1,301                  | 626                    
|Rob
            Rowley (retired 31 December 2001)                                        | 420                                       | 147        | 16                        | 9754&5                                     | 1,558                  | 632                    
|                                                                                        
|Total
            emoluments of directors                                                | 3,474                                     | 1,449      | 481                       | 2,385                                      | 7,789                  | 4,123                  
|                                                                                        
|Other
            senior managers as a group (17 persons)6 (2000: 7
            persons) | 3,328                                     | 3,095      | 253                       |                                           | 6,676                  | 2,666                  
|                                                                                        

|Notes:
|------
|      
|1.    
|2.    
|3.    
|4.    
|5.    
|6.    
|7.    

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Directors'
              pension arrangementsSir Peter
              Job, Jean-Claude Marchand, Rob Rowley and Geoffrey Weetman joined
              Reuters pension arrangements in the UK prior to April 1999 and are
              entitled to a pension of two-thirds of basic salary on retirement
              from Reuters at their normal retirement age of 60. Reduced pensions
              are normally payable in the event of early retirement, although
              Geoffrey Weetman's service contract entitles him to a pension of
              two-thirds of his final salary without any such reduction. Post-retirement
              increases are expected to be in line with inflation (guaranteed
              up to the level of 5% per annum and discretionary above that level).
            In the event
              of death before retirement, a spouse's pension of four-ninths of
              the executive's basic salary is payable, together with a capital
              sum equal to four times the aggregate of basic salary and taxable
              benefits-in-kind and a refund with interest of the executive director's
              own contributions. On death in retirement, the executive director's
              spouse will receive a pension equal to two-thirds of that payable
              to the executive director.
            The Chairman
              has been admitted as a member of the Reuters Pension Fund for the
              purpose only of providing a fixed lump sum benefit of £300,000
              for his dependants in the event of his death in service. Under an
              unfunded pension arrangement the Chairman is entitled to a pension
              of 2.5% of his annual fee times the number of years' service, from
              the date of his appointment as Chairman in May 1985 to the date
              his tenure in office terminates.
            Pension benefits
              earned during 2001 by the Chairman and those executive directors
              who are members of the Reuters Pension Fund are:
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Sir
            Christopher Hogg                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Sir
            Peter Job (retired 31 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Jean-Claude
            Marchand (retired 15 September 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Rob
            Rowley (retired 31 December 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Geoffrey
            Weetman (appointed 23 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|On
            their retirement and in recognition of their long period of service
            with Reuters, Jean-Claude Marchand and Rob Rowley were granted enhanced
            pension benefits. The pension figures shown in the above table are
            their pension benefits after these enhancements, which were funded
            in part by the directors giving up some or all of their termination
            entitlements under their service contracts. Jean-Claude Marchand's
            annual pension was increased by £37,000 in exchange for this
            waiver of termination payments. Rob Rowley's annual pension was similarly
            increased by £57,000 in place of severance pay and part of his
            2001 bonus entitlement.
            
            The remaining
              executive directors participate in defined contribution pension
              arrangements. Philip Green and David Grigson are members of the
              Reuters Retirement Plan in the UK and receive a company contribution
              equal to 20% of the statutory Pension Schemes Earnings Cap. Tom
              Glocer participates in the company's US pension arrangements and,
              from 1 January 2001, is entitled to a pension allowance of 20% of
              his base salary. Company pension contributions and allocations in
              respect of these directors in 2001 were:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

|                                                                                                                                                                                                                                                                                  |     |                                          |                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --- | ---------------------------------------- | -----------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                  | Age | Years
            of
            service | Company
            pension
            contribution
            during period
            £000
|                                                                                                                                                                                                                                                                                 
|Tom
            Glocer                                                                                                                                                                                                                                                            | 42  | 8                                        | 163                                                                                            
|Philip
            Green                                                                                                                                                                                                                                                          | 48  | 2                                        | 19                                                                                             
|David
            Grigson                                                                                                                                                                                                                                                         | 47  | 1                                        | 19                                                                                             
|                                                                                                                                                                                                                                                                                 
|The
            total amount contributed or accrued by the company in 2001 to provide
            pension and similar benefits for the directors was £3.1 million
            and for the directors and the non-director senior managers as a group
            was £3.7 million.

|LONG-TERM
              PLANS BENEFITING EXECUTIVE DIRECTORS Long-term
              incentive plan Since 1993, Reuters has operated a long-term incentive plan (LTIP)
              under which annual awards of share rights are made to executive
              directors and certain key executives. Awards to the executive directors
              (excluding the Chief Executive) are normally based on 100% of annual
              salary using the average daily share price for the previous year.
              On average, awards to Tom Glocer are expected to be around 300%
              of salary.
            Performance
              under the plan is measured over a three- to five-year period by
              comparing the total shareholder return (TSR) of Reuters with that
              of other companies comprising the FTSE 100 at the beginning of the
              period. The companies are ranked according to their TSR for the
              measurement period with the company having the highest, or best,
              TSR ranked first. Reuters position on the list determines the extent
              to which plan awards will vest. The pre-set vesting criteria for
              awards are shown in the table below together with the actual ranking
              for each award at 31 December 2001. Between the two vesting extremes,
              awards vest on a graduated scale. Awards vesting under the plan
              are not released until at least five years from the date of grant.                                                                                                     
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Date
            measurement
            period commenced                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|1
            January 1997                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|1
            January 1998                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|1
            January 1999                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|1
            January 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|1
            January 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|The average of
              the daily closing prices for the immediately preceding 12 months
              are used as the initial and final share prices when calculating
              the TSR. The obligations under the plan, and those of the performance-related
              share plan described below, will be met from shares held by Reuters
              employee share ownership trusts (ESOTs). The costs are charged to
              the profit and loss account over the vesting periods. Performance-related
              share planSince 1995 Reuters has operated a performance-related share
              plan for senior executives not participating in the long-term incentive
              plan. Under this plan awards have been made to approximately 1,100
              senior executives, including Tom Glocer, Philip Green and Geoffrey
              Weetman before they became directors of the company. The rules for
              vesting are similar to those currently operating for the long-term
              incentive plan except that vested shares can be released after a
              minimum of three years from grant. The executive directors will
              not receive any further awards under this plan.
            Participants
              in the 2001 award received rights to a total of 792,800 shares (2000:
              2.9 million, 1999: 3.8 million).
            The
              table below shows the number of shares underlying the awards made
              under both long-term plans to each executive director and to the
              other senior managers as a group.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              |                                                                                                                     |                                               |                                                  |                                                |                                                                                                                       |                                                                                                         
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------- | ------------------------------------------------------------------------------------------------------------------- | --------------------------------------------- | ------------------------------------------------ | ---------------------------------------------- | --------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Number
            of shares |                                                                                                                     |                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Year of
            grant    | Unreleased at
              31 December
              2000 or later
              date of
              appointment | Awarded
            during
            period | (Released)
            during
            period | (Lapsed)
            during
            period | Unreleased at
              31 December
              2001 or
              earlier date
              of resignation | Date of release
            
            or exercisable
            period if
            vesting occurs
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Tom
            Glocer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1999                         | 9,855                                                                                                               |                                              |                                                 |                                               | 9,855                                                                                                                 | Feb 2002 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 42,596                                                                                                              |                                              |                                                 |                                               | 42,596                                                                                                                | Feb 2002 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                         | 33,518                                                                                                              |                                              |                                                 |                                               | 33,518                                                                                                                | Feb 2003 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         |                                                                                                                    | 174,451                                       |                                                 |                                               | 174,451                                                                                                               | Feb 2006 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 85,969                                                                                                              | 174,451                                       |                                                 |                                               | 260,420                                                                                                               |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Philip
            Green                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1999                         | 100,000                                                                                                             |                                              |                                                 |                                               | 100,000                                                                                                               | Feb 2002 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                         | 24,320                                                                                                              |                                              |                                                 |                                               | 24,320                                                                                                                | Feb 2005 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         |                                                                                                                    | 55,426                                        |                                                 |                                               | 55,426                                                                                                                | Feb 2006 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 124,320                                                                                                             | 55,426                                        |                                                 |                                               | 179,746                                                                                                               |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|David
            Grigson                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2000                         | 42,579                                                                                                              |                                              |                                                 |                                               | 42,579                                                                                                                | Feb 2005 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         |                                                                                                                    | 26,294                                        |                                                 |                                               | 26,294                                                                                                                | Feb 2006 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 42,579                                                                                                              | 26,294                                        |                                                 |                                               | 68,873                                                                                                                |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Geoffrey
            Weetman
            (appointed 23 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1996                         | 25,207                                                                                                              |                                              |                                                 | (4,034)                                        | 21,173                                                                                                                | Feb 2002 
            Dec 2002                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1997                         | 25,460                                                                                                              |                                              |                                                 |                                               | 25,460                                                                                                                | Feb 2003 
            Dec 2003                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 31,763                                                                                                              |                                              |                                                 |                                               | 31,763                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 34,561                                                                                                              |                                              |                                                 |                                               | 34,561                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                         | 31,616                                                                                                              |                                              |                                                 |                                               | 31,616                                                                                                                | Feb 2005 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         | 20,211                                                                                                              |                                              |                                                 |                                               | 20,211                                                                                                                | Feb 2004 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         | 9,851                                                                                                               |                                              |                                                 |                                               | 9,851                                                                                                                 | Feb 2006 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 178,669                                                                                                             |                                              |                                                 | (4,034)                                        | 174,635                                                                                                               |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Sir
            Peter Job
            (ceased to be a director on 23 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 1996                         | 61,218                                                                                                              |                                              |                                                 | (9,795)                                        | 51,423                                                                                                                | Feb 2002 
            Dec 2002                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1997                         | 68,812                                                                                                              |                                              |                                                 |                                               | 68,812                                                                                                                | Feb 2003 
            Dec 2003                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 85,990                                                                                                              |                                              |                                                 |                                               | 85,990                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 90,516                                                                                                              |                                              |                                                 |                                               | 90,516                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                         | 73,567                                                                                                              |                                              |                                                 |                                               | 73,567                                                                                                                | Feb 2005 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         |                                                                                                                    | 65,656                                        |                                                 |                                               | 65,656                                                                                                                | Feb 2006 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 380,103                                                                                                             | 65,656                                        |                                                 | (9,795)                                        | 435,964                                                                                                               |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Jean-Claude
            Marchand
            (ceased to be a director on 23 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1996                         | 38,805                                                                                                              |                                              |                                                 | (6,209)                                        | 32,596                                                                                                                | Feb 2002 
            Dec 2002                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1997                         | 48,994                                                                                                              |                                              |                                                 |                                               | 48,994                                                                                                                | Feb 2003 
            Dec 2003                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 55,956                                                                                                              |                                              |                                                 |                                               | 55,956                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 60,564                                                                                                              |                                              |                                                 |                                               | 60,564                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                         | 47,667                                                                                                              |                                              |                                                 |                                               | 47,667                                                                                                                | Feb 2005 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         |                                                                                                                    | 38,021                                        |                                                 |                                               | 38,021                                                                                                                | Feb 2006 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 251,986                                                                                                             | 38,021                                        |                                                 | (6,209)                                        | 283,798                                                                                                               |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Rob
            Rowley
            (ceased to be a director on 31 December 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1996                         | 38,171                                                                                                              |                                              |                                                 | (6,108)                                        | 32,063                                                                                                                | Feb 2002 
            Dec 2002                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1997                         | 42,663                                                                                                              |                                              |                                                 |                                               | 42,663                                                                                                                | Feb 2003 
            Dec 2003                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 53,322                                                                                                              |                                              |                                                 |                                               | 53,322                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 55,626                                                                                                              |                                              |                                                 |                                               | 55,626                                                                                                                | Feb 2004 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                         | 45,235                                                                                                              |                                              |                                                 |                                               | 45,235                                                                                                                | Feb 2005 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         |                                                                                                                    | 42,243                                        |                                                 |                                               | 42,243                                                                                                                | Feb 2006 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 235,017                                                                                                             | 42,243                                        |                                                 | (6,108)                                        | 271,152                                                                                                               |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Other
            senior managers as a group (16 persons)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 1995                         | 4,998                                                                                                               |                                              | (4,998)                                          |                                               |                                                                                                                      | Feb 1998 
            Dec 2001                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1996                         | 41,268                                                                                                              |                                              |                                                 | (6,603)                                        | 34,665                                                                                                                | Feb 2002 
            Dec 2002                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1997                         | 65,372                                                                                                              |                                              |                                                 |                                               | 65,372                                                                                                                | Feb 2003 
            Dec 2003                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1998                         | 36,281                                                                                                              |                                              | (7,580)                                          |                                               | 28,701                                                                                                                | Feb 2002 
            Dec 2004                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1999                         | 485,096                                                                                                             |                                              |                                                 |                                               | 485,096                                                                                                               | Feb 2002 
            Dec 2005                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                         | 219,713                                                                                                             |                                              |                                                 |                                               | 219,713                                                                                                               | Feb 2003 
            Dec 2006                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001                         | 59,312                                                                                                              | 143,708                                       |                                                 |                                               | 203,020                                                                                                               | Feb 2004 
            Dec 2007                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                              | 912,040                                                                                                             | 143,708                                       | (12,578)                                         | (6,603)                                        | 1,036,567                                                                                                             |                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|The
            1996 LTIP awards vested as to 84% on 1 January 2001 but were not available
            for release until February 2002. As at 31 December 2001 no other LTIP
            awards were vested but unreleased. However, on 1 January 2002 the
            1997 LTIP awards vested 67.5% and the 1999 awards vested in full,
            but are not available for release until February 2003 and February
            2004 respectively.
            
            The 1998 performance-related
              share plan (PRSP) awards vested in full on 1 January 2001. During
              their periods of office in 2001 a total of 12,578 PRSP shares were
              released to two senior managers and had an aggregate value of £114,000
              on release. The 1999 awards vested in full on 1 January 2002 and
              are available for release from February 2002.
            Discretionary
              stock option planA new
              global discretionary stock option plan was adopted by the Remuneration
              Committee in October 2000 and approved by shareholders in April
              2001. A total of 12.5 million share options were granted in 2001
              to approximately 4,500 employees, including the executive directors.
              Of these, approximately 7.4 million options are over unissued shares.
            Options granted
              to the directors can first be exercised on the third anniversary
              of grant but only if the percentage growth in Reuters Group's earnings
              per share (EPS) exceeds the percentage growth in the retail price
              index by more than 9% over that period. If the target is not met
              the performance period may be extended by up to two years with an
              increase of 3% in the hurdle rate of EPS growth for each year added
              to the performance period. If the target rate is not met by the
              end of the fifth year the options will lapse.
            The options
              granted to other employees will generally vest at the rate of 25%
              each year from the first anniversary of grant, expiring seven years
              after grant.
            Deferred
              bonus share planDeferred
              bonus awards over 1.4 million shares were granted in early 2000
              to 104 senior managers, excluding the then executive directors.
              The awards were made as a special 1999 deferred bonus and were conditional
              on continued employment, generally for a two-year retention period
              ending in February 2002. The shares awarded under the plan will
              be satisfied from the Reuters employee share ownership trusts. The
              balance of awards outstanding at 31 December 2001 was approximately
              1.37 million shares, of which 390,000 shares were held by the directors
              and other senior managers as a group. A total of 255,000 deferred
              bonus shares held by directors and other senior managers were released
              on 13 February 2002.

|ALL-EMPLOYEE
              SHARE PLANSPlan
              2000In
              1998 an all-employee option plan was introduced. All employees were
              given the opportunity to apply for an option to acquire 2000 shares,
              generally at an exercise price of 550 pence per share, being the
              market price at the date of grant. These options became exercisable
              in September 2001 and will normally expire in September 2005. Options
              over a total of 23.5 million shares remained unexercised as at 31
              December 2001.
            Save-as-you-earn
              (SAYE) and stock purchase plansEmployees
              are eligible to save a fixed sum each month and to use these funds
              to exercise options over Reuters shares. Generally, the exercise
              price is fixed at 20% below the market price at the start of the
              savings period. The maximum savings amount is £250 per month
              for three or five years.
            Reuters also
              offers an Employee Stock Purchase Plan for most US-based employees
              in which employees can elect to participate instead of the SAYE
              plan. Monthly savings are transferred to a designated broker who
              purchases ADSs at available market prices for the accounts of the
              employees.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|LONG-TERM
              PLANS OF SUBSIDIARIES AND JOINT VENTURESInstinet
              Group Incorporated  stock option planInstinet
              operates a plan permitting the grant of options up to a maximum
              of 14% of the common stock in issue following the initial public
              offering of Instinet Group Incorporated. Options may be granted
              to directors and employees of Instinet at an exercise price of not
              less than fair market value at the date of grant. Options normally
              vest in instalments over a four-year period and may not exceed a
              term of 10 years. Approximately 2,000 employees and directors of
              Instinet participate in the plan.
            At 31 December
              2001, options were outstanding over 21.1 million Instinet shares,
              equivalent to 8.5% of Instinet's common stock. These options have
              exercise prices ranging from US$9.18 to US$19.68 per share with
              a term of seven years. Included are options held by Doug Atkin,
              Chief Executive Officer of Instinet, over 330,627 shares at an exercise
              price of US$18.75 per share and over 410,000 shares at US$14.50
              per share. These options expire in 2008.
            Radianz Limited
               stock option planRadianz, the joint venture between Reuters and Equant, has adopted
              an all-employee share option plan covering up to 15% of its equity.
              Under the terms of the plan, options may be granted, at not less
              than fair market value, to directors and employees of Radianz. Options
              will become exercisable according to a vesting schedule, generally
              covering a period of four years and expiring at the end of seven
              years. Obligations under the option plan are to be met from shares
              held by the Radianz Employee Trust.
            During 2001
              the Board of Radianz approved a resolution to permit optionholders
              to release options granted to them at US$6.81 per share in exchange
              for the granting of new options in 2002. Released under these arrangements
              were options over 29,092,449 shares held by 719 employees, representing
              12.5% of Radianz share capital. Included in this total were 2,350,571
              options relating to shares granted to a senior executive of Reuters,
              representing 1% of Radianz share capital. At 31 December 2001, 582,855
              options were outstanding representing approximately 0.25% of Radianz
              issued capital.
            TIBCO Finance
              Technology Inc.  stock option planA stock
              option plan for employees of a Reuters subsidiary, TIBCO Finance
              Technology Inc., was established in 1996 over shares held by Reuters
              in TSI. As at 31 December 2001, options outstanding under the plan
              were equivalent to approximately 4.3% of the issued share capital
              of TSI, on a fully diluted basis.
            Other subsidiariesA number
              of small subsidiaries in the Group operate profit sharing plans
              or option plans over their own, unissued shares.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|DIRECTORS'
            SHARE OPTIONSOptions
            on shares held by directors during 2001, including SAYE options, were
            all in respect of Reuters Group PLC and were as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Sir
            Christopher Hogg                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Tom Glocer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Executive                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|DSOP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Plan 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Philip Green                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|DSOP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|David Grigson                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|DSOP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Geoffrey
            Weetman (appointed 23 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|DSOP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Plan 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Sir
            Peter Job (ceased to be a director on 23 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Plan 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Jean-Claude
            Marchand (ceased to be a director on 23 July 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Plan 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Rob
          Rowley (ceased to be a director on 31 December 2001)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Plan 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Other
            senior managers as a group (16 persons)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|SAYE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|DSOP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Plan 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|No options were
              exercised by directors during their period of office in 2001. The
              closing mid-market price of Reuters ordinary shares on 31 December
              2001 was 680 pence. During 2001 the price for Reuters ordinary shares
              ranged between 526 pence and 1158 pence.
            At 31 December
              2001 a total of 41.6 million ordinary shares of Reuters Group PLC
              were under option in connection with all the company's option plans.
              The number of new shares issued under share options granted over
              the 10 years to 31 December 2001, combined with the total options
              outstanding at 31 December 2001 relating to the same grants, was
              approximately 6% of issued capital at that date. This compares with
              a maximum authorised level of 10% (excluding Plan 2000 shares).
              At 31 December 2001 the ESOTs held 30.5 million shares of Reuters
              Group PLC, approximately 2.13% of issued share capital. The authorised
              limit is 10%.
            Summary
              of interests of directorsThe
              interests of the current directors and other senior management in
              the issued share capital of the company and in shares underlying
              savings schemes, options and incentive plans are shown below as
              at 15 February 2002. Interests in shares held at 1 January 2001
              (or later date of appointment) and 31 December 2001 are also shown
              for directors in office at 31 December 2001 and should be read in
              conjunction with their interests in share option plans and long-term
              incentive plans as disclosed above.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                               |                                                    |         |                             |                                   |                       |         |            |                           
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------- | -------------------------------------------------- | ------- | --------------------------- | --------------------------------- | --------------------- | ------- | ---------- | --------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Interests
            at 15 February 2002                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Long-term
            incentive plans                                                                         |                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Shares at
              1 January
              2001 or later
              date of
              appointment | Shares at
            31 December
            2001 | Shares  | Savings
            schemes | Discretionary
            options | Plan
            2000 | Vested  | Non-vested | Deferred
            bonus
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Directors:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                                               |                                                    |         |                             |                                   |                       |         |            |                           
|Sir
            Christopher Hogg                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 31,693                                                                                                        | 33,321                                             | 38,321  | 3,077                       |                                  |                      |        |           |                          
|Tom
            Glocer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 10,266                                                                                                        | 11,466                                             | 12,466  | 1,512                       | 578,829                           | 2,000                 | 52,451  | 207,969    | 135,000                   
|Philip
            Green                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2,000                                                                                                         | 2,000                                              | 17,000  | 1,216                       | 177,494                           |                      | 100,000 | 79,746     |                          
|David
            Grigson                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                              | 2,280                                              | 5,045   | 698                         | 92,807                            |                      |        | 68,873     |                          
|Geoffrey
            Weetman                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 126,681                                                                                                       | 126,681                                            | 126,681 | 3,098                       | 78,483                            | 2,000                 | 104,682 | 61,678     |                          
|Sir
            John Craven                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 6,846                                                                                                         | 6,846                                              | 6,846   |                            |                                  |                      |        |           |                          
|Dennis
            Malamatinas                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                              | 2,000                                              | 2,000   |                            |                                  |                      |        |           |                          
|Roberto
            Mendoza                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 8,000                                                                                                         | 8,000                                              | 8,000   |                            |                                  |                      |        |           |                          
|Dick
            Olver                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 3,000                                                                                                         | 3,000                                              | 3,000   |                            |                                  |                      |        |           |                          
|Charles
            Sinclair                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 10,062                                                                                                        | 14,062                                             | 14,062  |                            |                                  |                      |        |           |                          
|Ian
            Strachan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1,500                                                                                                         | 1,500                                              | 1,500   |                            |                                  |                      |        |           |                          
|Other senior
              managers
              as a group (16 persons):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | n/a                                                                                                           | 225,468                                            | 449,589 | 18,149                      | 266,677                           | 26,000                | 592,587 | 422,733    |                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Directors were
              the beneficial holders of all shares listed, save for shares held
              by family members of Sir Christopher Hogg and Geoffrey Weetman and
              for shares held on behalf of a trust of which Tom Glocer is a beneficiary.
              No director or senior manager beneficially owns 1% or more of the
              company's issued share capital.
            At 31 December
              2001 Rob Rowley, who retired on that date, held interests in 108,665
              Reuters ordinary shares (2000: 138,665) of which 5,606 (2000: 5,606)
              were beneficially owned by family members.
            At 1 January
              2001 and 31 December 2001 Tom Glocer and Philip Green also held
              135,000 and 15,000 shares respectively, under the Deferred Bonus
              Share Plan. On 13 February 2002, 15,000 shares held by Philip Green
              under the Deferred Bonus Share Plan were released to him.
            Tom Glocer,
              David Grigson, Rob Rowley, Ian Strachan and Ed Kozel each purchased
              1,000 shares in Instinet Group Incorporated at the offer price of
              US$14.50 per share at the time of the Instinet IPO in May 2001.
              The other senior managers as a group held no interests in shares
              of Instinet Group Incorporated at 1 January 2001 and held interests
              in a total of 7,000 shares and 740,627 options at 31 December 2001.
            None of the
              directors has notified the company of an interest in any other shares,
              transactions or arrangements which require disclosure. There have
              been no movements in the interests of the directors in the share
              capital of Group companies since 31 December 2001 save as otherwise
              disclosed in this report.
            On behalf of
              the BoardSir Christopher
              HoggChairman
              
              15 February 2002

|
|
|
|

|STATEMENT OF DIRECTORS' RESPONSIBILITIES
|----------------------------------------

|Financial
              reportingReuters
              Group directors are required by UK company law to prepare financial
              statements for each financial year which give a true and fair view
              of the state of affairs of the company and the Group as at the end
              of the financial year and of the profit and cash flows of the Group
              for the period. Reuters Group is also required to prepare financial
              statements in accordance with the requirements of the SEC.
            Reuters Group
              has complied with both UK and US disclosure requirements in this
              report in order to present a consistent picture to all shareholders.
              In preparing the financial statements, applicable accounting standards
              have been followed, suitable accounting policies have been used
              and applied consistently and reasonable and prudent judgements and
              estimates have been made.
            The directors
              have reviewed the Group's budget and cash flow forecast for the
              year to 31 December 2002 and outline projections for the subsequent
              year in the light of the sound financial position and borrowing
              facilities at 31 December 2001. On the basis of this review the
              directors are satisfied that the Group is a going concern and have
              continued to adopt the going concern basis in preparing the financial
              statements.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Internal controlsThe directors acknowledge their responsibility for the Group's
              system of internal control and confirm they have reviewed its effectiveness.
              In doing so, the Board has taken note of the guidance for directors
              on internal control, Internal Control: Guidance for Directorson the Combined Code (the Turnbull guidance).
            The Board confirms
              that there is a process for identifying, evaluating and managing
              significant risks faced by the Group. This process has been in place
              for the full financial year and is ongoing. It is regularly reviewed
              by the Group Management Committee and twice a year by the Board
              and accords with the Turnbull guidance. The Board considers it is
              appropriately designed to manage, rather than eliminate, the risk
              of failure to achieve business objectives and can only provide reasonable
              and not absolute assurance against material misstatement or loss.
              The concept of reasonable assurance recognises that the cost of
              a control procedure should not exceed the expected benefits.
            During 2001,
              the directors were not aware of any control breakdowns, which resulted
              in a material loss.
            The Board appointed
              the Group Management Committee as a sub-committee for the purpose
              of monitoring, on a continual basis during the year, the effectiveness
              of the Group's internal control system.
            Using a common
              risk management framework throughout the business, each division
              (Reuters Financial and Reuterspace), Instinet and significant business
              units summarise the risks that could impede the achievement of its
              objectives. For each significant risk, they document an overview
              of the risk, how it is managed and any improvement actions required.
              Following each review, the divisions prepare a report ('Risk Radar'),
              which is submitted to and reviewed by the Group Management Committee.
              In addition the Group Operating Committee undertakes a review of
              the most significant operating risks. A common risk assessment process
              has also been adopted by other corporate functions and major programmes.
              This process will be adapted to reflect the new organisation introduced
              with effect from 1 January 2002.
            Of particular
              significance in 2001 has been the Business Transformation programme
              and its associated projects. Risk management has been an integral
              part of this programme and senior management, at regular intervals,
              has reviewed and assessed how the risks are being managed.
            At the year
              end, before producing the statement on internal control in the annual
              report and Form 20-F, the Group Management Committee considers
              the operation and effectiveness of the Group's internal control
              system. This review includes consideration of each of the most significant
              risks the Group faces and how well these are controlled and managed.
              Based on this review, the Chief Executive provides a written report
              ('Reuters Group Risk Radar') to the Board detailing how the Group
              is managing its significant risks.
            The control
              system includes written policies and control procedures, clearly
              drawn lines of accountability and delegation of authority and comprehensive
              reporting and analysis against approved budgets. In a growing group
              of the size, complexity and geographical diversity of Reuters it
              should be expected that breakdowns in established control procedures
              might occur. There are supporting policies and procedures for reporting
              and management of control breakdowns.
            The Group monitors
              its internal financial control system through management reviews,
              control self-assessment and a programme of internal audits. Internal
              Audit independently review the controls in place to manage significant
              risks and reports to the Audit Committee twice a year. The Audit
              Committee reviews the assurance procedures, including compliance
              controls, on a bi-annual basis and reports their findings to the
              Board.
            The Group's
              external auditors, PricewaterhouseCoopers, have audited the financial
              statements and have reviewed the work of internal auditors and the
              internal control systems to the extent they consider necessary to
              support their audit report. The Audit Committee has met internal
              auditors and PricewaterhouseCoopers to discuss the results of their
              work.
            By order of
              the BoardRosemary
              MartinCompany Secretary 
              15 February 2002
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|
|
|

|INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REUTERS GROUP PLC
|----------------------------------------------------------------

|We have audited
            the financial statements which comprise the consolidated profit and
            loss account, the consolidated balance sheet, the consolidated cash
            flow statement, the related notes and the balance sheet of Reuters
            Group PLC which have been prepared under the historical cost convention
            and the accounting policies set out in the statement of accounting
            policies and the summary of differences between UK and US generally
            accepted accounting principles. As detailed in the statement of accounting
            policies, the Group has changed its accounting policy for deferred
            tax in 2001 following the adoption of FRS 19.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Respective
              responsibilities of directors and auditorsThe
              directors' responsibilities for preparing the annual report and
              the financial statements in accordance with applicable United Kingdom
              law and accounting standards and the Form 20-F are set out in the
              statement of directors' responsibilities.
            Our responsibility
              is to audit the financial statements in accordance with relevant
              legal and regulatory requirements, United Kingdom Auditing Standards
              issued by the Auditing Practices Board and the Listing Rules of
              the Financial Services Authority and Auditing Standards generally
              accepted in the United States.
            We report to
              you our opinion as to whether the financial statements give a true
              and fair view and are properly prepared in accordance with the Companies
              Act 1985. We also report to you if, in our opinion, the directors'
              report is not consistent with the financial statements, if the company
              has not kept proper accounting records, if we have not received
              all the information and explanations we require for our audit, or
              if information specified by law or the Listing Rules regarding directors'
              remuneration and transactions is not disclosed.
            We read the
              other information contained in the annual report and Form 20-F and
              consider the implications for our report if we become aware of any
              apparent misstatements or material inconsistencies with the financial
              statements. The other information comprises only those sections
              set out in the table of contents, including the directors' report,
              report on corporate governance, report on remuneration and related
              matters, statement of directors' responsibilities and the operating
              and financial review.
            We review whether
              the corporate governance statement and report on remuneration and
              related matters reflects the company's compliance with the seven
              provisions of the Combined Code specified for our review by the
              Listing Rules and we report if they do not. We are not required
              to consider whether the Board's statements on internal control cover
              all risks and controls, or to form an opinion on the effectiveness
              of the Group's corporate governance procedures or its risk and control
              procedures.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Basis of audit
              opinionWe
              conducted our audit in accordance with United Kingdom Auditing Standards
              issued by the Auditing Practices Board and with Auditing Standards
              generally accepted in the United States. An audit includes examination,
              on a test basis, of evidence relevant to the amounts and disclosures
              in the financial statements. It also includes an assessment of the
              significant estimates and judgements made by the directors in the
              preparation of the financial statements and of whether the accounting
              policies are appropriate to the company's circumstances, consistently
              applied and adequately disclosed.
            We planned and
              performed our audit so as to obtain all the information and explanations
              which we considered necessary in order to provide us with sufficient
              evidence to give reasonable assurance that the financial statements
              are free from material misstatement, whether caused by fraud or
              other irregularity or error. In forming our opinion we also evaluated
              the overall adequacy of the presentation of information in the financial
              statements.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|United Kingdom
            opinionIn our
            opinion the financial statements give a true and fair view of the
            state of affairs of the company and the Group at 31 December 2001
            and of the profit and cash flows of the Group for the year then ended
            and have been properly prepared in accordance with the Companies Act
            1985.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|United States
              opinionIn
              our opinion the financial statements present fairly, in all material
              respects, the financial position of the Group at 31 December 2001,
              2000 and 1999 and the results of its operations and cash flows for
              each of the three years in the period ended 31 December 2001, all
              expressed in pounds sterling in conformity with accounting principles
              generally accepted in the United Kingdom.
            Accounting principles
              generally accepted in the United Kingdom vary in certain significant
              respects from accounting principles generally accepted in the United
              States. The application of the latter would have affected the determination
              of consolidated net income for each of the three years in the period
              ended 31 December 2001 and consolidated shareholders' equity at
              31 December 2001, 2000 and 1999, all expressed in pounds sterling,
              as shown in the summary of differences between UK and US generally
              accepted accounting principles.
            PricewaterhouseCoopers
              Chartered Accountants and Registered Auditors 
              London 
              15 February 2002
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|
|
|

|OPERATING AND FINANCIAL REVIEW
|------------------------------

|Review of year
            end resultsUnder US law, all statements other than statements of historical
            fact included in this review are, or may be deemed to be, forward-looking
            statements within the meaning of Section 27A of the Securities Act
            of 1933 and Section 21E of the Securities Exchange Act of 1934. Certain
            important factors that could cause actual results to differ materially
            from those discussed in such forward-looking statements are described
            under 'Risk factors' as well as elsewhere
            in this review. All written and oral forward-looking statements made
            on or after the date hereof and attributable to Reuters Group are
            expressly qualified in their entirety by such factors.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|1. SUMMARY
              OF KEY EVENTS OF 2001
            Worldwide
              economic conditions and 11 September2001
              was characterised by uncertain market conditions and a general economic
              slowdown, which has led to consolidation and cost reduction by many
              of our clients. The economic slowdown has become more pronounced
              as a result of the events of 11 September, though the direct financial
              impact of this on Reuters Group was limited. Further details are
              shown in the 'Financial review'.
            Instinet
              IPOIn
              May, Instinet completed an initial public offering (IPO) selling
              37 million shares at US$14.50 per share, raising net proceeds of
              £339 million. This resulted in a deemed partial disposal by
              Reuters of a 15.1% interest in Instinet, generating a book profit
              of £200 million. Reuters did not actually dispose of any Instinet
              shares as part of the IPO.
            Bridge acquisitionIn
              September, Reuters completed the acquisition of the core North American
              equities information and trading businesses and certain other businesses
              of Bridge Information Systems, Inc., and its subsidiaries, which
              had been in bankruptcy proceedings since the beginning of 2001.
              The total purchase consideration, which included interim funding
              to Bridge and its network provider, Savvis, was £256 million.
              The acquired Bridge businesses include content, analytics and trading
              applications primarily for financial institutions and their customers,
              as well as Bridge Trading, a licensed broker-dealer. The transaction
              has greatly enhanced Reuters presence in the US buy-side market
              and allowed Reuters to expand its product offering as well as connect
              its international customer base with Bridge's largely US clientele.
            Other acquisitions
              and disposalsIn
              March, Reuters acquired Diagram fip SA, a major European provider
              of financial software solutions for the capital markets, for a total
              purchase consideration of £48 million.
            In August, Reuters
              outsourced the management of its corporate venture fund, the Greenhouse
              Fund, to RVC, a newly formed and independent fund management company.
            In October,
              Reuters disposed of its majority stake in VentureOne Corporation,
              a provider of information and research for the venture capital investment
              industry, for a net consideration of £18 million.
            Also in October,
              Instinet acquired approximately 92% of ProTrader Group LP, a provider
              of advanced trading technologies and electronic brokerage services
              primarily for retail active traders and hedge funds. In January
              2002, Instinet acquired the remaining 8%. The total purchase consideration
              was £105 million, which comprised £71 million in cash
              and £34 million of Instinet shares. The acquisition diluted
              Reuters holding in Instinet further to approximately 83%.
            Business
              Transformation and cost savings programmesExpenditure
              relating to the Business Transformation programme continued with
              £164 million in 2001 compared to £139 million in 2000.
              In addition to job cuts associated with this programme, Reuters
              implemented a further headcount reduction programme during the second
              half of the year in response to market conditions. These programmes
              together will result in the elimination of 1,800 jobs exceeding
              the previously stated target by 200. At the end of December 2001,
              over 1,000 staff had already left and the remainder will leave during
              2002. Instinet also carried out similar cost saving measures and
              reduced its headcount by 237 by the end of December 2001. These
              additional measures resulted in a restructuring charge in 2001 of
              £82 million for Reuters and £17 million for Instinet.
            Further details
              regarding the Business Transformation programme and the additional
              cost saving measures, including an explanation of associated charges
              and anticipated savings, are shown in the 'Operating
              and financial review'.
            Dividend
              policyFollowing a strategic review and the decision to reshape the
              organisation around customer segments, as described later within
              the 'Operating and financial review',
              Reuters reviewed its dividend policy in the third quarter of 2001.
              Given the opportunities available for growth in the business, Reuters
              concluded that it should retain a higher proportion of its earnings
              and available cash flows. As a result, a final dividend of 6.15
              pence per share (2000: 12.35 pence, 1999: 11.0 pence) is proposed
              thus making a total dividend for 2001 of 10.0 pence per share (2000:
              16.0 pence, 1999: 14.65 pence). Under this new dividend policy,
              Reuters intends to increase the dividend progressively from this
              lower base as earnings recover, with a goal for dividend cover of
              at least two times the normalised earnings of Reuters. In connection
              with its IPO, Instinet stated its intention not to distribute dividends
              to its shareholders, including Reuters.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. PERFORMANCE
              MEASUREMENTUnderlying
              growth, normalised profits and earnings and divisional operating
              profit, are measures used by the Group to enable period-to-period
              comparison on a like-for-like basis so that organic operational
              growth can be easily identified. This reflects the manner in which
              the Group is managed.
            Underlying growth
              excludes acquisitions, disposals and significant once-off items
              in the period under review and excludes the impact of currency fluctuations.
              The significant acquisitions excluded are: in 2001, Bridge and Diagram
              (Reuters Financial) and ProTrader (Instinet); in 2000, Yankee and
              ORT (Reuterspace) and Lynch, Jones & Ryan (Instinet); and in
              1999, Tower Group (Reuterspace) and Montag Popper (Instinet). The
              disposal of VentureOne (Reuterspace) is excluded in 2001. The only
              significant once-off item excluded is the 1999 beneficial impact
              of a reversal of a £25 million data feed accrual. The 2000
              and 2001 expenses of the Business Transformation programme and the
              2001 restructuring charges relating to the headcount reductions
              described earlier are not excluded from underlying growth calculations.
            Normalised profits
              and earnings exclude amortisation of goodwill and other intangible
              assets, impairment charges and gains and losses on the disposal
              of subsidiaries and fixed asset investments. This is done in order
              to give a clearer view of the operating performance of the business.
              A reconciliation between UK GAAP and normalised operating profit
              and profit before tax is shown in the 'Financial
              review'.
            Divisional operating
              profit is the normalised operating profit excluding Business Transformation
              and other restructuring costs. The divisions exclude joint ventures,
              associates and investments. This measure is used to reflect the
              fact that the Group is managed on a divisional basis and is used
              to give a clearer view of the operating performance of the divisions
              individually and collectively.
            MarginNormalised
              operating profit margin for the Group decreased to 9.9%, compared
              to 13.1% in 2000 and 19.3% in 1999 and normalised operating profit
              margin for Reuters decreased to 7.3% compared to 11.2% in 2000 and
              18.2% in 1999. The decline over the three years principally reflects
              the Business Transformation expenditure in 2000 and 2001 and the
              additional headcount related restructuring costs in 2001.
            Earnings
              per share (EPS)The 2000 and 1999 results have been restated to reflect the
              adoption of Financial Reporting Standard (FRS) 19 Deferred Tax.
              For further details, see 'Accounting
              policies and US GAAP'.
            Basic earnings
              per share decreased by 91% in 2001, compared to an increase of 20%
              in 2000. Normalised earnings per share decreased 35% in 2001, compared
              to a 24% decrease in 2000. The decrease on a normalised basis was
              driven by increased Business Transformation costs, the other restructuring
              costs and net losses on associates and joint ventures. In addition,
              the basic earnings per share decrease reflects, in particular, net
              losses on investments of £53 million in 2001 compared to profits
              of £271 million in 2000 and £102 million in 1999.
            Dividend
              per shareFollowing
              the review of dividend policy, the final dividend proposed was 6.15
              pence which, when added to the interim dividend of 3.85 pence amounts
              to 10.0 pence per share, a decrease of 38% for the full year 2001
              compared to 2000.
            Shareholder
              valueReuters
              Group aims to grow its value and outperform its peers. The Group
              believes that its mix of assets, some of which are unique to the
              Group, will help it to meet these aims. Reuters Group assets, not
              all of which are included in the consolidated balance sheet, include:
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|The Group uses
              a model for measuring and ranking its total shareholder return (TSR)
              compared with that of the other 99 companies in the FTSE 100 index
              at the start of each measurement period. This model is used to determine
              vesting of awards under performance-linked share plans.
            Reuters Group
              rankings over recent three-year measurement periods and the short
              measurement periods to 31 December 2001 are set out above.
            Cash flowCash
              conversion is used to measure the conversion of operating profit
              into cash and is calculated by taking the net operating cash flow
              as a percentage of normalised operating profit. The 118% Reuters
              cash conversion for 2001 reflects the strong cash generative nature
              of Reuters core businesses. As in the prior year it was boosted
              by the high level of severance costs that had been provided for
              at the end of the year for staff leaving in the following year.
              Without this impact, the average cash conversion percentage for
              the past two years would have been 99%. The trend over three years
              shows the strong cash generative nature of Reuters.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

|3.
            FINANCIAL REVIEW                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Operating
            profit:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Normalised
            operating profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Share
            of JVs, associates losses/investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Net
            interest (payable)/receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Normalised
            profit before tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Amortisation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Net
            (losses)/gains on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Reported
            profit before tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|2001 results
              compared with 2000During 2001, the Group continued to be managed and to report
              its results on a divisional basis. In 2002, the Group will be managed
              and its results presented under the new customer segment structure.
              For further details, see the 'Operating
              and financial review'.
            Actual revenue
              increased 8% to £3,885 million and underlying revenues, driven
              primarily by Reuters Financial, increased 2%. The difference between
              actual and underlying growth reflected mainly the impact of currency
              movements and the Bridge acquisition.
            Divisional operating
              profit increased 6% to £646 million. Underlying growth was
              7%, underpinned by a combination of revenue growth in Reuters Financial
              and tighter cost control across Reuters and Instinet.
            Divisional operating
              profit includes recognised net currency losses (including hedging
              losses) of £13 million in 2001, compared with gains of
              £2 million in 2000. Actual rates performance in 2001 was positively
              impacted by the relative strength of the US dollar and the euro
              against sterling.
            Expenditure
              relating to the Business Transformation programme was £164
              million in 2001 compared to £139 million in 2000. Other restructuring
              costs of £99 million in 2001 were also incurred. Further information
              on both Business Transformation and the other restructuring costs
              are shown in the 'Operating and financial
              review'.
            As a result,
              normalised operating profit fell 19% in 2001, compared to a 22%
              fall in 2000.
            Normalised operating
              profit margin was 9.9%, compared with 13.1% in 2000. Divisional
              operating profit margin was 16.6% in 2001, compared to 16.9% in
              2000.
            The Group's
              share of net operating losses (before amortisation) in associates
              and joint ventures and investment income rose from £16 million
              in 2000 to £70 million in 2001 reflecting the inclusion of
              a full year's loss from Radianz Limited and other start-ups, as
              well as losses arising from significant costs in TSI as a result
              of restructuring activity. Income from fixed asset investments was
              £3 million, compared to £5 million in 2000.
            Reconciliation
              of UK GAAP operating profit and profit before tax to normalised
              operating profit and normalised profit before tax

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                     |                    
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Operating
            profit (UK GAAP)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 302                             | 411                 | 549                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Amortisation
            (subsidiaries)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 81                              | 59                  | 47                 
|Loss
            on TSI/Reuters Business Briefing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                |                    | 7                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Normalised
            operating profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 383                             | 470                 | 603                
|Share
            of JVs, associates losses/investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (70)                            | (16)                | (8)                
|Net
            interest (payable)/receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (9)                             | 3                   | (4)                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Normalised
            profit before tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 304                             | 457                 | 591                
|Amortisation
            (subsidiaries and associates)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (93)                            | (71)                | (61)               
|Net
            (losses)/gains on investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (53)                            | 271                 | 102                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Profit
            before tax (UK GAAP)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 158                             | 657                 | 632                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|The £9 million
              net interest payable reflected £45 million of interest receivable,
              primarily relating to Instinet and also including £16 million
              from associates and joint ventures. This was more than offset by
              £54 million of interest payable, primarily related to Reuters,
              including £15 million interest relating to the payment of corporate
              taxes. This compared to a £3 million net interest receivable
              in 2000.
            Normalised profit
              before tax fell by 34% to £304 million. The decline reflected
              increased Business Transformation costs, the other restructuring
              costs, increased losses in associates and joint ventures and increased
              interest payable, partly offset by higher divisional operating profit
              driven by the underlying growth in Reuters Financial and Instinet.
            Total amortisation
              was £93 million (2000: £71 million), of which £12
              million (2000: £12 million) related to associates and joint
              ventures. The significant increase related principally to the acquisitions
              of Bridge, Diagram and ProTrader.
            Net losses on
              investments were £53 million, compared to net gains of £271
              million in 2000 (which included a £160 million book profit
              relating to a TSI follow-on public offering; see '2000 results compared
              with 1999' below).
            The most significant
              gain in 2001 was the deemed partial disposal of a 15.1% interest
              in Instinet, which resulted in a £200 million book profit taken
              in the first half of the year. The Greenhouse Fund saw a net loss
              of £145 million with impairments offsetting the gains on disposal.
              The impairments reflected the substantial reduction in the value
              of technology stocks as well as a prudent management view consistent
              with the Group's position as a strategic rather than a venture capital
              investor.
            This prudent
              view was also applied to the Group's other investments with £108
              million net losses (of which £13 million relate to write-downs
              by Instinet). This included full provisions against investments
              in Sila Communications and Pedestal and also £10 million in
              respect of assets lost in the World Trade Center (that were insured
              through our captive insurance provider). Also included in the net
              write-downs was a gain of £16 million on the disposal of VentureOne.
            As a result
              reported profit before tax was £158 million compared to £657
              million in 2000.
            The tax charge
              for 2001 resulted in an actual tax rate of 67% on profit before
              tax, compared with a rate of 21% in 2000 and the current UK corporate
              tax rate of 30%. The higher actual tax rate is due principally to
              the fact that the write-down in investments and the amortisation
              charges are non-deductible. On a normalised basis, the actual tax
              rate for 2001 and 2000 was 35%.
            Profit after
              tax in 2001 was £51 million compared to £521 million in
              2000.
            
            The impact
              of 11 September on 2001 resultsThe
              estimated direct impact of the events of 11 September on the Reuters
              Group operating profit was lost revenue of approximately £17
              million (including £14 million at Instinet from the loss of
              four trading days) and incremental costs of £5 million (including
              £4 million at Instinet). In addition, losses of approximately
              £10 million (net of insurance proceeds) have been recognised
              in respect of communications equipment and other assets destroyed
              and £2 million (net of insurance proceeds) in respect of payments
              for Reuters Group staff who died in the World Trade Center.
            2000 results
              compared with 1999Actual
              revenue in 2000 increased 15% to £3,592 million and underlying
              revenue, mainly driven by Instinet, increased 13%.
            Divisional operating
              profit increased 1% in 2000 to £609 million. Underlying divisional
              operating profit growth was 11%. The difference between the actual
              and underlying operating profit growth reflects mainly the impact
              of currency movements and the exclusion of the beneficial impact
              of the reversal of the £25 million data feed accrual in 1999.
            Divisional operating
              profit included recognised net currency gains of £2 million
              in 2000, compared with £6 million in 1999. Actual rates performance
              in 2000 was adversely impacted by the strength of sterling against
              the euro, partially offset by sterling's weakness against the US
              dollar and Japanese yen.
            Normalised operating
              profit, which included Business Transformation costs, fell 21% in
              2000.
            Normalised operating
              profit margin in 2000 was 13.1%, compared with 19.3% in 1999. Divisional
              operating profit margin was 16.9% in 2000 compared with 18.9% in
              1999.
            The Group's
              share of net operating losses (before amortisation) in associates
              and joint ventures and investment income rose from £8 million
              in 1999 to £16 million in 2000. In 2000 a profit of £2 million
              from TSI was more than offset by losses reported from the new joint
              venture and associates Radianz, Sila Communications and Multex Investor
              Europe. TSI and Reuters Business Briefing (now part of Factiva)
              became associates in 1999. Income from fixed asset investments was
              £5 million compared to £2 million in 1999.
            The £3
              million net interest receivable in 2000 reflected £13 million
              of interest receivable from associates and joint ventures offset
              by £10 million of interest payable. This compared to £4 million
              net interest payable in 1999.
            Normalised profit
              before tax fell by 23% in 2000 to £457 million. The decline
              reflected increased investment in new initiatives at Instinet and
              Reuterspace and Business Transformation costs, partly offset by
              higher underlying operating growth in Reuters Financial and Instinet's
              equities business.
            Total amortisation
              in 2000 was £71 million, of which £12 million related
              to associates and joint ventures. This compared to amortisation
              of £61 million in 1999 of which £14 million was in respect
              of associates and joint ventures.
            Net gains on
              investments in 2000 were £271 million compared to £102
              million in 1999. A follow-on public offering in March 2000 of 4.8
              million TSI shares resulted in a book profit for Reuters of £160
              million. This was subsequently reduced by £3 million as a result
              of the exercise of options held by TIBCO Finance employees. Reuters
              sold no shares in TSI other than to meet its obligations under an
              option plan of TIBCO Finance, a wholly owned Reuters subsidiary
              and received no proceeds from the sale of TSI shares other than
              the exercise price of such options.
            Net gains on
              the Greenhouse Fund in 2000 were £53 million compared to £37
              million in 1999. In 2000 profits on disposal more than offset impairments
              in the carrying value of the investments. The disposal of Reuters
              interest in Safetynet generated a further profit of £37 million
              in 2000.
            Reported profit
              before tax grew by 4% to £657 million.
            The tax charge
              for 2000 resulted in an actual tax rate of 21% on profit before
              tax, compared with a rate of 31% in 1999 and the then current UK
              corporate tax rate of 30%. The lower effective tax rate reflected
              the non-taxable nature of the book gain arising from the TSI follow-on
              share offer and tax deductions arising from the exercise of TSI
              stock options held by TIBCO Finance employees. On a normalised basis,
              the tax rate for 2000 was 35% compared to 32% in 1999.
            Profit after
              tax in 2000 was £521 million compared to £436 million
              in 1999.
            Current trading
              and prospects for 2002Reuters
              expects subscription-based revenues to grow in actual terms in 2002,
              driven by a full-year contribution from the recently acquired Bridge
              businesses. Based on the current cyclical downturn Reuters is seeing
              in financial services markets, the company currently expects underlying
              subscription revenues to decline 2% to 3% in the first half of 2002.
              The lag effects inherent in subscription revenues are expected to
              cause the rate of decline in the second half of the year to be slightly
              higher than in the first.
            Solutions sales,
              which grew 7% on an underlying basis in 2001, are expected again
              to show good growth in 2002. The timing of these revenues is, as
              always, difficult to predict but Reuters has an encouraging pipeline
              of revenue prospects, weighted towards the second half.

|4.
            OPERATING REVIEW
            Divisional performance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            Financial (excluding Bridge)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 561                            
|Bridge                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (3)                            
|Bridge
            integration                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (17)                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            Financial                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 541                            
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | (60)                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 481                            
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 178                            
|Net
            currency (losses)/gains                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (13)                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Divisional
            operating profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 646                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                
|Underlying
            revenue growth                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|By
            quarter vs 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Q1                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 7%                             
|Reuters
            Trading Solutions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 7%                             
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 9%                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 7%                             
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 20%                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            Group                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 10%                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Underlying revenue
              growth was strong in the first half of the year across all divisions,
              particularly in Instinet. However, underlying revenue growth has
              fallen back in the second half, particularly in the fourth quarter.
              This reflected the impact of the economic slowdown which has become
              more pronounced as a result of the events of 11 September.
            Reuters FinancialReuters Financial comprises Reuters Information (RI), Reuters
              Trading Solutions (RTS) and, in the fourth quarter, the acquired
              businesses of Bridge. Although RI, RTS and Bridge revenues are separately
              discussed below, performance for the division is shown in total,
              reflecting the way the division is managed.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                     |                    
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Reuters
            Financial                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2,787                           | 2,559               | 2,399              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Operating
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 541                             | 517                 | 483                
|Operating
            margin                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 19.4%                           | 20.2%               | 20.2%              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Underlying revenue
              increased by 4% (2000: 6%), mainly driven by RI and actual rates
              growth was 9% (2000: 7%) reflecting the impact of the Bridge acquisition,
              at the beginning of the fourth quarter and exchange rate movement.
            Underlying cost
              growth of 3% (2000: 3%) was lower than revenue growth and growth
              at actual rates was 10% (2000: 7%). The difference between the actual
              and underlying cost growth in 2001 is principally due to the acquisition
              of Bridge including integration costs, described under 'Bridge'
              below.
            Accordingly,
              underlying operating profit increased by 9% (2000: 19%) and at actual
              rates increased by 5% (2000: 7%).
            Excluding the
              impact of Bridge (including Bridge integration costs), the operating
              margin would have been 20.7%.
            Reuters InformationRI provides information products for financial professionals.
              RI's focus is on four main markets: equities; foreign exchange and
              money; commodities (including energy); and fixed income.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                     |                    
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|RI
            revenue analysis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|High
            Tier (International products)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 873                             | 795                 | 775                
|Middle
            Tier (Domestic products)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 209                             | 225                 | 201                
|Other
            revenue (site fees, exchange fees, third-party data etc)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 754                             | 717                 | 643                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Total
            revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1,836                           | 1,737               | 1,619              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Underlying revenue
              growth was 5% (2000: 7%) driven by High Tier revenue growth. High
              Tier revenue growth continued to be driven by 3000Xtra, our flagship
              information product, with over 35,000 accesses installed by the
              end of December 2001, compared with 10,800 as at 31 December 2000.
              Sales of 3000Xtra progressed well with over 56,000 accesses sold
              by the end of December 2001 compared with 27,000 as at 31 December
              2000.
            Actual revenue
              decline of 7% in Middle Tier products reflected the re-classification
              of £14 million of site fees (2000: £16 million, 1999:
              £16 million) from Middle Tier to Other revenue in 2001. Underlying
              revenue growth, which for this purpose also excludes this re-classification,
              was 1% (2000: 17%) reflecting 3% growth in the US offset by a decline
              in the non-US markets. Installed accesses of Reuters Plus, our US
              domestic product, increased with approximately 64,000 accesses installed
              by the end of 2001 compared to 55,000 at the end of 2000.
            Other revenue
              includes additional information sets and add-on services. Approximately
              40% of Other revenue was recovery of exchange, installation and
              communication fees for which there was an almost equal and opposite
              cost. Other revenue for 2000 and 1999 included £24 million
              and £12 million respectively for Lower Tier products (Reuters
              Markets Monitor, Reuters Markets View and Online Investor Services)
              which in 2001 were grouped in Reuters Trading Solutions  Retail
              Solutions (see below). Underlying revenue growth, which excludes
              the Lower Tier revenue products, but includes the underlying growth
              in the re-classified site fees, was 4% (2000: 11%) in line with
              RI underlying growth in 2001. The growth in 2000 reflected increased
              demand for broader information sets and add-on services.
            Reuters Trading
              SolutionsRTS aims to meet the technology and transaction needs of clients
              in treasury and banking, corporate treasuries, securities broking
              and sales, asset management and personal financial services. RTS
              comprises three business groupings: Transactions; Applications and
              Enterprise Solutions; and Retail Solutions.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                     |                    
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|RTS
            revenue analysis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Transactions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 377                             | 402                 | 402                
|Applications
            and Enterprise Solutions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 404                             | 385                 | 350                
|Retail
            Solutions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 97                              | 35                  | 28                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Total
            revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 878                             | 822                 | 780                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Overall RTS underlying
              revenue growth was 2% (2000: 4%), driven mainly by strong sales
              in Retail Solutions products offset by a decline in Transactions
              products. Actual rates growth was 7% (2000: 5%) reflecting the impact
              of the acquisition of Diagram.
            Underlying revenue
              in Transactions fell 6% in 2001 (2000: 2%), reflecting the continuing
              consolidation in the FX/Money markets dealing community and the
              impact of global pricing agreements concluded with key customers.
              The rate of decline slowed significantly in the second half of the
              year reflecting the fact that the pressure from banking consolidation
              is easing slightly and Reuters is enjoying good growth in its forwards
              matching products.
            The roll-out
              of Dealing 3000 continued with close to 13,000 accesses installed
              by the end of December 2001, providing increased functionality to
              users of Dealing 2000. Transactions revenue is expected to continue
              to decline in 2002, due to the factors outlined above as well as
              the introduction of Reuters Dealing Link, a lower-priced entry point
              into the Dealing network targeted at users who do not require the
              full functionality of Dealing 3000.
            Underlying growth
              in Applications and Enterprise Solutions revenue was 3% (2000: 9%)
              reflecting growth in Trade & Risk Management products.
            Retail Solutions
              products, aimed at providers of personal finance services, continue
              to be in strong demand and generated underlying growth of 39% (2000:
              24%) partly driven by strong underlying revenue growth in Online
              Investor Services. Actual revenues for Retail Solutions in 2001
              included £40 million from Lower Tier products formerly part
              of Reuters Information (2000: £24 million, 1999: £12 million)
              as discussed above. The underlying growth includes the re-classification
              of these revenues for all three years.
            Reuters Consulting,
              which was formed in 2000, delivers integrated client solutions around
              a range of Reuters content and technology. Reuters Consulting revenue,
              which is distributed across the three RTS business lines, continued
              to grow during 2001 despite tough market conditions with consulting
              revenue growing to £74 million in 2001 from £61 million
              in 2000. Although the consulting business unit was only formed in
              2000, Reuters had consulting activities prior to this. In 1999,
              revenues from these activities were £45 million. The 21% growth
              in 2001 (2000: 34%) was partly driven by the acquisition of Diagram
              and currency movements. Underlying growth was 10% (2000: 28%).
            BridgeTotal
              post-acquisition revenue for the acquired Bridge businesses from
              1 October 2001 was £73 million. At the time of acquisition,
              Reuters announced anticipated revenue of US$100 million (£69 million)
              for the fourth quarter. Bridge Trading performed slightly better
              than expected due to higher fourth quarter NYSE trading volumes,
              offset by slightly weaker performance from the other Bridge businesses
              reflecting the deteriorating market conditions discussed earlier.
              Total post-acquisition operating loss was £3 million.
            Bridge integration
              costs of £17 million in 2001 represented mainly severance and
              retention payments to key staff impacted by integration activities
              and other third-party costs associated with the integration. The
              Bridge integration programme, which is expected to continue into
              2004, is forecast to cost £55 million in total, of which £31
              million is expected in 2002, with the remaining £7 million
              to be incurred in 2003 and 2004.
            Reuters intends
              to make £25 million of annual cost savings in 2002 and a further
              £23 million in 2003 as a result of the integration of Bridge.
            ReuterspaceReuterspace
              was formed in 2000 to utilise existing Reuters assets to exploit
              new market opportunities beyond the traditional wholesale financial
              market.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                     |                    
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 255                             | 235                 | 157                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Operating
            loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (60)                            | (67)                | (15)               
|Operating
            margin                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (23.6%)                         | (28.2%)             | (9.4%)             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Actual revenue
              increased by 8% (2000: 50%), reflecting the full 2001 year impact
              of the acquisitions in 2000 of O R Télématique (ORT)
              in France and Yankee Group in the US. The underlying revenue declined
              by 2% (2000: 16% growth) reflecting the contracting customer demand
              for research products in the US telecoms sector as industry consolidation
              and rationalisation takes place and the discontinuation of software
              development activities.
            Media underlying
              revenue growth was 2% (2000: 6%), reflecting the more challenging
              sales environment for online products, particularly in the US.
            Investment in
              reuters.com portal infrastructure, related activities and online
              media expansion has been reduced in the second half of the year,
              reflecting reduced market opportunities as a result of changing
              economic conditions and a reassessment of the scale of opportunities
              in the new organisation structure. As a result, levels of investment
              will be significantly lower in 2002 compared to 2001, contributing
              to an expected reduction in the 2002 operating loss.
            Greenhouse
              Fund

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                     |                    
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Greenhouse performance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Net
            (losses)/gains                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (145)                           | 53                  | 37                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Effective from
              2 August 2001, the Greenhouse portfolio is managed by RVC, an independent
              company established by the former Greenhouse Fund management, who
              were Reuters employees. The RVC management team is seeking to raise
              new funds in 2002 to invest in software infrastructure companies
              primarily in Europe. Reuters has committed to invest up to £17
              million in this first fund along with other investors and has an
              option to invest in future funds.
            At 31 December
              2001, the Greenhouse portfolio had holdings in 18 quoted companies,
              55 unlisted companies and 14 venture funds. Overall, Reuters has
              invested £283 million in the Greenhouse Fund and has subsequently
              realised cash of £249 million from initial public offerings,
              trade sales and distributions from these investments. Reuters has
              made available £17 million in 'follow-on' funding for investments
              in companies in this existing portfolio.
            The net loss
              in 2001 stems from the impairment review which reflects the fact
              that the value of investments has fallen below their carrying value
              and the prudent management view referred to in the 'Financial
              review'. The net gains in 2000 and 1999 arose from the significant
              number of disposals (IPO and trade sales) made in those years.
            InstinetInstinet,
              a US publicly traded company in which Reuters holds an 83.3% interest,
              provides global electronic equity and fixed income brokerage services
              to investment professionals.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                     |                    
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 854                             | 804                 | 525                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Operating
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 178                             | 157                 | 129                
|Operating
            margin                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 20.8%                           | 19.5%               | 24.5%              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Actual revenues
              in 2001 increased by 6% (2000: 53%) and underlying growth was flat
              (2000: 40%). The difference between the actual and underlying growth
              in 2001 reflected the acquisition of ProTrader and currency movements.
              The flat underlying growth in 2001 reflected growth in the US equities
              business offset by a decline in the International business, particularly
              in the second half due to weaker market conditions.
            Revenue growth
              in 2001 has been weak as a result of lower Nasdaq market volumes
              in the second half of 2001. Trading in the latter part of the year
              has also been impacted considerably by the introduction of decimalisation,
              which has narrowed trading spreads thus putting pressure on execution
              costs. In addition there was increased activity on SuperSoes, Nasdaq's
              execution platform and an intensification in the competitive landscape.
              This is reflected in the decline of Instinet's Nasdaq market share
              from a high of 16.2% in April to a low of 10.7% in December. Instinet's
              average share of the Nasdaq market was 14.0% for 2001 compared with
              13.0% for 2000 and 1999. Although as indicated above, Instinet's
              market share declined through the second half of 2001, it increased
              in January 2002 from December 2001. In addition, Instinet lost four
              days of trading as a result of market losses following the events
              of 11 September.
            The gap between
              actual rates and underlying growth in 2000 was mainly due to the
              exclusion of Lynch, Jones & Ryan (LJR). The underlying growth
              in 2000 reflected strong market conditions in the year.
            Instinet costs
              at actual rates increased by 4% (2000: 63%). Underlying costs fell
              by 1% (2000: 47% increase). The significant difference in cost growth
              rates from 2000 to 2001 is attributable to three factors. Firstly,
              a significant portion of the cost base is variable and is related
              to revenue, thus lower revenue growth has restricted cost growth.
              Secondly, 2000 also saw some significant investment in the Fixed
              Income and Retail products, the former going live in 2000 and the
              latter being terminated in the same year. Finally, costs fell in
              the second half of 2001 as a result of the reduction in headcount,
              most of which was completed by the end of the third quarter and
              other cost reduction initiatives.
            As a result,
              operating margin increased to 20.8% compared to 19.5% in 2000 and
              24.5% in 1999. The lower margin in 2001 compared to 1999 is a reflection
              of the changing market conditions in 2001. The decline in 2000 was
              primarily due to investment in the Retail and Fixed Income products,
              investment in trading capacity to accommodate increased volumes
              and the build up of corporate costs prior to the initial public
              offering.
            Instinet has
              announced a number of actions in response to the above developments,
              including introducing new products and trading functionality to
              extend global brokerage offering, aggressively reducing pricing
              to broker-dealer customers, improving integration with customers
              trading systems with the aim of increasing Nasdaq volumes, and increasing
              cost reduction measures, as described below, in anticipation of
              lowered 2002 revenues.
            
            Business
              Transformation and other restructuring costsThe Business Transformation programme initiatives continue to
              be categorised into two groups:
            Firstly, the
              development of a new product architecture to create new tailored
              products for existing and new users along a continuum of price points
              that offer lower cost of ownership, segmented service and support
              and a customer-focused and rapid approach to product development.
            Secondly, an
              organisation and process transformation to create an organisation
              structure that is aligned to the emerging opportunities in each
              of our different customer segments. The new organisation which came
              into effect at the start of 2002 is built around four customer segments:
              Treasury; Investment Banking and Brokerage; Asset Management; and
              Corporates & Media; and a number of global resource pools that
              support the segments and management.
            These global
              resource pools are focused around: distribution channels
              such as Focus Group Accounts (servicing our global clients), Consultative
              channels (the three distinct regions dedicated to local customers)
              and Business Direct (smaller customers and online business); and
              Centres of Excellence such as the Business Technology Group
              (supplying high-quality, fit-for-purpose products and capabilities),
              Global Services (the Solutions and Consulting business), Editorial,
              the Chief Technology Office and Shared Business Services encompassing
              elements such as Business Development, Finance, Risk Management
              and Human Resources.
            Business Transformation
              expenditure for 2001 for Reuters was £164 million, of which
              £88 million related to new product architecture and £76
              million related to organisation and process transformation. Business
              Transformation expenditure in 2000 was £139 million of which
              £88 million related to new product architecture and £51
              million related to the organisation and process transformation.
            Business Transformation
              expenditure is expected to fall significantly in 2002. Reuters estimates
              it will spend in the order of £75 million in 2002. The benefits
              of these initiatives are already coming through, with an estimated
              £55 million in cost savings in 2001 and Reuters estimates savings
              of £105 million in 2002 and £155 million in 2003. These
              savings are split as follows:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                     |                    
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Distribution                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 25                              | 40                  | 45                 
|e-Procurement                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 20                              | 30                  | 40                 
|Streamlining
            internal processes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                | 5                   | 15                 
|New
            organisation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 10                              | 30                  | 55                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 55                              | 105                 | 155                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|In addition to
              the original Business Transformation programme, Reuters commenced
              a series of initiatives in the second half of 2001. Reuters aim
              is to achieve further cost savings in response to the continuing
              weak market conditions by reducing headcount beyond that resulting
              from the Business Transformation programme. The combined target
              was a total of 1,600 staff over a two-year period but has since
              been increased to 1,800 staff. These actions resulted in a restructuring
              cost of £82 million. At the end of December 2001, over 1,000
              Reuters staff had already left. The remainder will leave during
              2002.
            These additional
              initiatives are estimated to have already realised benefits in 2001
              of £10 million and are expected to yield additional annualised
              savings of £80 million.
            Restructuring
              expenditure in Instinet for 2001 was £17 million reflecting
              similar cost saving initiatives. Instinet reduced its headcount
              by 237 staff by the end of December 2001. Instinet's annualised
              fixed cost run rate in the fourth quarter of 2001 was over £100
              million lower than in the first half of 2001, well ahead of the
              £50 million annualised savings goal Instinet set in July 2001.
            Instinet expects
              to take a further restructuring charge of £17 million in the
              first half of 2002 in order to reduce the annual fixed cost run
              rate by a further £41 million.
            The foregoing
              staff reduction numbers are without giving effect to other changes
              in staff numbers due to acquisitions, disposals or ordinary course
              employment activities. See the discussion of staff costs in the
              Group costssection.

|REVENUE
            BY TYPE AND GEOGRAPHY  REUTERS GROUP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Revenue
            by type  proportion                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Recurring                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Usage                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Outright                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Recurring revenue,
              which is principally derived from the sale of subscription services,
              increased by 7% at actual rates reflecting the impact of the Bridge
              acquisition and growth in Reuters Information.
            Usage revenue
              is principally derived from Instinet, as well as Bridge Trading
              and Reuters Dealing products. The increase in usage mix from 1999
              to 2001 reflects the growth of Instinet revenues. Usage revenue
              increased by 10% at actual rates reflecting the acquisition of Bridge
              Trading. Underlying revenue growth was flat in line with the performance
              of Instinet.
            Outright revenue,
              which is principally derived from the sale of solutions including
              software, hardware and consultancy, increased by 13% at actual rates
              and 7% at underlying rates. The gap between actual and underlying
              growth reflected the acquisition of Diagram. The modest underlying
              growth reflected a strong first half 2001 performance of 20% growth
              offset by a second half 1% growth as a result of the worsening economic
              conditions in the second half of 2001, in particular in the last
              quarter.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                     |                    
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Revenue
            by geography                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|EMA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1,838                           | 1,689               | 1,643              
|RAM                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1,502                           | 1,344               | 979                
|AP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 545                             | 559                 | 503                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 3,885                           | 3,592               | 3,125              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Revenue growth
              in Europe, Middle East and Africa (EMA) in 2001 was 9% at actual
              rates and 5% on an underlying basis (2000: 3% and 5% respectively).
              The gap between actual and underlying growth in 2001 reflects the
              exclusion of Diagram and currency movements. Reuters growth was
              boosted by strong solution sales while 3000Xtra sales were particularly
              strong in the region. The main driver of growth in 2000 was Instinet's
              International business.
            The Americas
              (RAM) revenue in 2001 grew 12% at actual rates and was flat on an
              underlying basis (2000: 37% and 23% respectively). The gap between
              actual and underlying growth in 2001 reflects mainly the acquisitions
              of Bridge, ProTrader and Yankee and currency movements. The flat
              underlying performance in 2001 reflects the impact of the economic
              slowdown, in particular in the fourth quarter where underlying revenue
              declined by 19%. In 2000, there was strong underlying growth across
              the whole region, in particular in Instinet US which grew 34%.
            Actual revenue
              in Asia/Pacific (AP) fell by 3% in 2001 and underlying revenue was
              flat (2000: growth of 11% and 4% respectively). Underlying revenue
              performance in 2001 in Japan and Instinet's Asian business was offset
              by a decline in Hong Kong. In 2000, underlying performance in most
              countries was relatively flat except for Japan, which grew by 10%.

|GROUP
            COSTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Cost
            by function                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Production
            and communications                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Selling
            and marketing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Support
            services and administration                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Business
            Transformation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Other
            restructuring                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Amortisation
            (subsidiaries)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Net
            currency loss/(gain)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|%
            change                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Actual                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Underlying                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Group costs increased
              by 13% at actual rates (2000: 24%) and by 6% at underlying rates
              (2000: 19%). The gap between the actual and underlying growth in
              2001 is mainly due to the Bridge acquisition and currency movements.
              The underlying growth is mainly driven by the additional Business
              Transformation and other restructuring costs, partly offset by the
              savings that they have generated.
            Product and
              communications costs, which comprise costs involved in the development
              and delivery of Reuters products and content to its clients, increased
              by 6% at actual rates (2000: 11%) but decreased by 1% at underlying
              rates (2000: 6%) reflecting tighter cost control. The difference
              between 2000 actual and underlying growth primarily reflects the
              £25 million data feed accrual reversal in 1999.
            Selling and
              marketing costs, which comprise sales, marketing and client support
              services increased by 14% at actual rates (2000: 21%) and underlying
              growth was 7% (2000: 19%) principally due to expansion in Reuters
              Financial. The growth in 2000 was largely due to a significant expansion
              of Instinet's business.
            Support services
              and administration, which represents the cost of maintaining the
              Group's internal infrastructure, including internal systems, property
              and office costs, finance, legal and general management costs, increased
              by 10% (2000: 36%) and underlying costs increased by 3% (2000: 30%).
              The increase in 2000 was primarily due to an increase in support
              and management costs at Instinet together with costs associated
              with the acquisition of new subsidiaries.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                     |                    
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ------------------- | -------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Year
            to 31 December
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Cost
            by type                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2001
            £m             | 2000
            £m | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Staff                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1,306                           | 1,176               | 987                
|Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 731                             | 807                 | 641                
|Depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 246                             | 276                 | 310                
|Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 340                             | 296                 | 227                
|Communications                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 334                             | 245                 | 178                
|Space                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 237                             | 198                 | 172                
|Business
            Transformation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 164                             | 139                 |                   
|Other
            restructuring                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 99                              |                    |                   
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 126                             | 44                  | 61                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 3,583                           | 3,181               | 2,576              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Costs by type
              have been impacted by the transfer of network assets to Radianz
              in June 2000. Prior to this transfer, these costs were attributed
              to each type separately. Post transfer, the charge by Radianz for
              the use of the network is included in Communications.
            Actual staff
              costs rose by 11% (2000: 19%). Part of this was attributable to
              acquisitions, most notably the full 2001 period impact of entities
              acquired in 2000, such as Yankee, ORT and LJR and the current year
              purchases of Bridge, Diagram and ProTrader. On an underlying basis,
              staff costs rose by 4% (2000: 10%), mainly reflecting salary increases
              offset by headcount reductions. The 2000 underlying increase reflected
              a combination of increased headcount and salary rises. Group headcount
              was 19,429 at the end of December 2001 compared to 18,082 at the
              end of December 2000. Acquisitions in 2001 accounted for approximately
              1,900 additional headcount.
            Actual service
              costs, which comprise mainly associated staff costs, consultancy
              and contractor costs and equipment, fell by 9% and underlying costs
              fell by 15% (2000: 26% and 22% increase respectively) reflecting
              tighter cost control across the Group as well as the impact of Radianz
              highlighted above. The 2000 growth reflected increased settlement
              and clearing costs at Instinet and higher levels of branding and
              consulting expenditure.
            The actual depreciation
              charge declined by 11% and the underlying charge by 13% (2000: 11%
              and 14%) reflecting the continued benefit of reduced capital expenditure
              on subscriber equipment and the Radianz impact highlighted above.
            Actual data
              costs increased 15% and underlying costs increased 6% (2000: 30%
              and 22% respectively) reflecting increased demand for third-party
              data. These costs were generally recovered resulting in a similar
              growth in Other revenue in RI. The actual growth in 2000 reflected
              partly the £25 million data feed accrual reversal in 1999 and
              also reflected the underlying growth in exchange fee costs and the
              demand for more third-party data.
            Actual communication
              costs increased by 37% and underlying costs increased 25% (2000:
              38% and 35% respectively) reflecting the impact of the transfer
              of network assets to Radianz in June 2000 described above.
            Actual space
              costs increased 20% and underlying costs increased 13% (2000: 15%
              and 8% respectively) as a result of costs associated with various
              office moves, including the move to Reuters new flagship building
              at 3 Times Square in New York. The 2000 growth was mainly due to
              the expansion of Instinet and the impact of acquisitions.
            Research
              and developmentResearch
              and development expenditure totalled £245 million in 2001 compared
              with £276 million in 2000 and £197 million in 1999. This
              expenditure excludes costs associated with Business Transformation.
              Of the total expenditure, £155 million related to Reuters Financial
              (2000: £152 million), £4 million to Reuterspace (2000:
              £27 million), £67 million to Instinet (2000: £81
              million) and a further £19 million (2000: £16 million)
              related to the Chief Technology Office and Corporate.
            The decline
              in Reuterspace costs is mainly due to the high level of project
              start-up investment in 2000 and a significant reduction in Reuters
              Personal Finance development in 2001. The decline in Instinet costs
              is mainly due to a reduction in Fixed Income expenditure, following
              its product launch in 2000 and the termination of expenditure on
              the retail trading system project which was discontinued in the
              second half of 2000.
            Significant
              activities in 2001 included development of a Lower Tier Dealing
              service, Reuters Dealing Link; further development of a standard
              desktop product, Reuters 3000Xtra, in a common Reuters/TIB infrastructure
              and in a new Numerical Data Architecture. The acquisition of Diagram
              in 2001 increased the product portfolio and development capacity.
            
            Joint ventures
              and associatesExcluded
              from reported operating profit is the performance of a number of
              strategic alliances and joint ventures. The more significant of
              these are:
            Radianz,
              a joint venture with Equant that became operational from 1 July
              2000, was formed to develop the world's largest secure Internet
              Protocol (IP) network for financial markets. Although Reuters owns
              51% of the joint venture its control is limited to 50%. Reuters
              has contributed most of its network assets to Radianz. Reuters share
              of Radianz operating losses in 2001 was £27 million (2000:
              £9 million loss). The increased losses in 2001 reflect a full
              year of start-up costs compared to a half year in 2000 and a step
              up in development expenditure.
            TIBCO Software
              Inc. (TSI), a US publicly traded company which enables businesses
              to integrate enterprise application and deliver personalised information
              through enterprise portals, was spun off by Reuters in 1999. Reuters
              has a 53% economic interest in TSI but its voting rights are restricted
              to 49% and accordingly TSI is accounted for as an associate. If
              all outstanding employee options over TSI shares were exercised,
              Reuters shareholding in TSI would be 42%. Reuters share of TSI's
              losses in 2001 was £17 million (2000: £2 million profit,
              1999: £3 million loss) reflecting restructuring costs and the
              full year amortisation of goodwill relating to the acquisition of
              Extensibility by TSI.
            Factiva,
              a 50% owned joint venture with Dow Jones formed in 1999 to provide
              world-class global news and business information through its websites
              and content integration solutions. Reuters share of Factiva's profit
              in 2001 was £5 million, compared with £1 million loss
              in 2000 and a £4 million loss in 1999. The profit was driven
              by good revenue growth on the back of high net installations in
              2000 and the first quarter of 2001 combined with tighter cost control
              in response to the slowdown in trading conditions during the latter
              part of 2001.
            Other associates
              and joint ventures include Multex Investor Europe and Sila Communications.
              Combined losses for these entities amounted to £23 million
              in 2001 compared to £11 million in 2000.
            In addition,
              the following new joint ventures were set up in 2001:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | a 50% owned joint
            venture withCapco
            created in October 2001 to develop data management services for straight
            through processing. Reuters share of Capco operating losses in 2001
            was £3 million reflecting start-up costs.                                                                    
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | a 50% owned joint
            venture with Icor Brokerage created in September 2001 to develop
            electronic brokerage services for the global inter-bank foreign exchange
            options and interest rate derivatives markets. Reuters share of operating
            losses in 2001 was £1 million reflecting start-up costs.
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|As a result of
              various uncertainties, including the current economic conditions,
              it is considered difficult to forecast the level of losses for joint
              ventures and associates in 2002. A full year's start-up losses are
              expected from the Icor and Capco joint ventures as these were only
              formed late in 2001. Radianz will continue to incur a similar level
              of losses as in 2001 as the migration of Reuters products and clients
              to RadianzNet picks up speed. Losses from some of the other joint
              ventures and associates should be reduced with Factiva expected
              to continue being profitable. The best estimate at present is that
              losses in 2002 will be at similar, or perhaps slightly reduced,
              levels as 2001.
            For information
              regarding Reuters ability to influence these results, see 'Risk
              factors  Reuters does not have management control over some
              of its ventures'.

|5. FINANCIAL
              NEEDS AND RESOURCESAdditions
              to tangible fixed assets were £276 million in 2001, compared
              to £282 million in 2000 and £244 million in 1999. Subscriber
              equipment expenditure was £56 million in 2001, compared with
              £72 million in 2000 and £65 million in 1999. The decline
              in 2001 expenditure reflects the downward trend in sales. Other
              equipment additions were £220 million in 2001, compared to
              £210 million in 2000 and £179 million in 1999. The increase
              in other equipment additions in 2001 and 2000 was primarily due
              to property costs, including in 2001, the move to 3 Times Square
              in New York City.
            Reuters Group
              spent £468 million on acquisitions and fixed asset investments
              in 2001 compared to £463 million in 2000 and £135 million
              in 1999. In 2001, £48 million was spent on Reuters shares acquired
              by an employee share ownership trust compared with £40 million
              in 2000 and £68 million in 1999. Proceeds from the sale of
              fixed asset investments, principally relating to Greenhouse Fund
              disposals and including VentureOne, were £68 million compared
              to £80 million in 2000 and £39 million in 1999. The Instinet
              IPO raised £339 million in net proceeds which was retained
              by Instinet except for US$150 million (£103 million) used to
              repay debt owed by Instinet to Reuters.
            Reuters paid
              dividends of £227 million in 2001 (including the final 2000
              dividend which was payable in 2001), compared with £205 million
              in 2000 and £207 million in 1999.
            Cash flow
              movement in 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Normalised
            operating profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Capex                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Working
            capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Operating
            cash flow                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Cash conversion                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Acquisitions/disposals                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Dividends/taxation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Movement
            during 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Net
            (debt)/cash at 31 December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Net cash for
              the Group at 31 December 2001 amounted to £138 million, compared
              with net debt of £34 million at 31 December 2000 and net cash
              of £41 million at December 1999. Net cash at 31 December 2001
              comprised cash and short-term investments of £1,157 million
              offset by gross debt of £1,019 million.
            Reuters net
              debt of £702 million reflected the fact that Reuters funded
              the acquisitions of the Bridge businesses and Diagram and the charges
              for the Business Transformation and headcount reduction programmes.
              Reuters continued to generate significant amounts of cash during
              the year with an operating cash flow of £262 million, including
              the repayment of £103 million debt from the proceeds of Instinet's
              IPO. The Instinet net cash of £840 million included £339
              million from its IPO less the debt repayment.
            Reuters Group
              finances its operations by a mixture of cash flows from operations,
              short-term borrowings from banks and commercial paper markets, backed
              up as required by medium-term committed bank facilities and longer-term
              finance from capital markets. The Group currently has long-term
              ratings of AA- from Standard & Poor's and Aa3 from Moody's and
              short-term ratings of A1+/P1 respectively. Ratings are not a recommendation
              to buy, hold or sell securities. Each rating may be subject to revision
              or withdrawal at any time by the assigning rating agency and should
              be evaluated independently of any other rating.
            Reuters manages
              its net debt position and interest costs to support its continued
              access to the full range of debt capital markets.
            At 31 December
              2001, Reuters had available a committed syndicated loan facility
              of £500 million which expires in December 2006, all undrawn
              at 31 December 2001.
            A £1.5
              billion Euro Commercial Paper Programme was established in 1998.
              At 31 December 2001, Reuters had outstanding obligations of £502
              million under this programme, repayable at various dates up to June
              2002. The minimum outstanding during 2001 was £140 million
              and the maximum was £510 million.
            In 1998 Reuters
              also established a £1 billion Euro Medium Term Note Programme.
              At 31 December 2001, Reuters had outstanding obligations of £420
              million under this programme, repayable at various dates from February
              2002 up to November 2004. The minimum outstanding during 2001 was
              £319 million and the maximum was £420 million.
            In addition,
              Reuters has short-term uncommitted bank borrowing facilities denominated
              in various currencies, the sterling equivalent of which was approximately
              £188 million. Drawings under these lines was £46 million
              at 31 December 2001. Instinet has access to the equivalent US$981
              million short-term uncommitted bank facilities of which US$69 million
              was drawn at 31 December 2001.
            The following
              table summarises the Group's principal contractual financial obligations
              at 31 December 2001, certain of which are described in the consolidated
              financial statements and notes. Further analysis of these individual
              obligations can be reviewed by reference to the notes on the financial
              statements. The Group expects to be able to fund such obligations
              from ongoing operations and its existing or replacement resources
              and facilities.

|                                               |       |                                          | Payments
            due by period
|---------------------------------------------- | ----- | ---------------------------------------- | ----------------------------------
|                                              
|Contractual
            obligations            | Total | Less
            than
            1 year | 1-3
            years             
|                                              
|Short-term
            debt                    | 681   | 681                                      |                                  
|Long-term
            debt                     | 338   |                                         | 338                               
|Operating
            leases                   | 775   | 102                                      | 167                               
|Unconditional
            purchase obligations | 252   | 66                                       | 120                               
|Other
            long-term obligations        | 10    | 4                                        | 6                                 
|                                              
|Total
            contractual obligations      | 2,056 | 853                                      | 631                               
|                                              

|6. TREASURY
              MANAGEMENTThe
              key objectives of Reuters Group treasury management are to ensure
              sufficient liquidity exists to meet funding needs and to manage
              the interest rate and currency risks arising from its operations
              and its sources of finance.
            Reuters borrows
              in many currencies, at both fixed and floating rates and uses derivative
              contracts to create the desired currency and interest rate basis.
              Most funding is converted into sterling. However some debt may be
              left in, or converted to, other currencies to match asset exposures
              which arise from time to time. Derivatives used are principally
              interest rate swaps, forward rate agreements, interest rate caps
              and collars, currency swaps, forward foreign exchange contracts
              and currency options.
            The main risks
              managed by the Group Treasurer, under policies approved by the Board
              are foreign currency risk, interest rate risk, liquidity and refinancing
              risk and counterparty credit risk. A treasury committee of the Board
              periodically reviews Reuters treasury activities, policies and procedures.
              All treasury activity takes place within a formal control framework.
              A separate treasury department exists within Instinet.
            
            Over 85% of
              Group revenue is denominated in non-sterling currencies. The Group
              also has significant costs denominated in foreign currencies with
              a different mix from revenue. Group profits are, therefore, exposed
              to currency fluctuations. The approximate proportions of operating
              profit excluding amortisation of goodwill and other intangible assets
              and currency gains attributable to each key currency group was as
              follows:
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Operating
            profit by currency                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Continental
            Europe:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|US
            dollar                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Japanese
            yen                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Sterling:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Sterling costs
              exceeded sterling revenue due to the level of Business Transformation
              costs, UK-based marketing, development, operational and central
              management costs and depreciation which is largely accounted for
              in sterling once an asset has been acquired.
            In broad terms,
              using the 2001 mix of profits, the impact of an additional unilateral
              1% strengthening of sterling would have been a reduction of approximately
              £10 million in operating profit before hedging (2000: £10
              million, 1999: £10 million).
            Exchange rate
              movements in 2001 had a favourable impact on reported revenue and
              operating profit before hedging, mainly due to the stronger US dollar
              and euro in 2001 compared with 2000.
            A substantial
              proportion of the Group's cash investments are held in US dollar
              assets. These are mainly held by the Instinet group of companies.
              Following the IPO of Instinet in 2001, US dollar debt to Reuters
              was repaid with part of the IPO proceeds. Reuters currency exposure
              with respect to Instinet is not currently hedged.
            The priority
              in Reuters currency management policy is to reduce the risk of year
              on year cash flow volatility to acceptable levels while allowing
              a degree of flexibility to take advantage of market movements.
            The main principles
              underlying currency hedging policies are as follows:                                                                                                                                                                                                                                                                                                                                                                                     

| | committed hedging
            cannot exceed the underlying cash flow exposure; and                                                                      
|- | --------------------------------------------------------------------------------------------------------------------------------------------------------
| | levels of currency
            hedging cannot exceed 90% of underlying exposure for the first 12
            months and 70% for the following 12 months.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|The
            results of currency and interest rate hedging activities for the three
            years to December 2001 are summarised below:                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Recognised
            (losses)/gains                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Currency
            hedging                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Interest
            rate hedging                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Recognised currency
              hedging losses in 2001 were adverse compared with 2000 due mainly
              to the favourable impact in 2000 of the euro weakening after hedges
              had been placed, partly offset by the weakness of the Japanese yen
              in 2001.
            Gains and losses
              on instruments used for hedging are not recognised until the exposure
              that is being hedged is itself recognised. Unrecognised gains and
              losses on instruments used for hedging and the movements are set
              out below:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                  |                         |                    |    
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------ | ----------------------- | ------------------ | ---
|Hedging                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Gains
            £m                             | (Losses)
            £m | Net
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Unrecognised
            at 1 January 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 18                                               | (21)                    | (3)               
|Arising
            in previous years:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                  |                         |                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Recognised
            in 2001                   | 13                      | (15)               | (2)
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Not
            recognised in 2001               | 5                       | (6)                | (1)
|Arising
            in 2001:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                  |                         |                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Not
            recognised in 2001               | 13                      | (3)                | 10 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Unrecognised
            at 31 December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 18                                               | (9)                     | 9                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Of
            which:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                  |                         |                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Expected
            to be recognised in 2002    | 12                      | (5)                | 7  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Expected
            to be recognised after 2002 | 6                       | (4)                | 2  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|There were net
              unrecognised gains of £9 million on derivatives used for hedging
              at 31 December 2001 compared with unrecognised losses of £3
              million at 31 December 2000 and unrecognised losses of £13
              million in 1999. The improvement is mainly due to a lower level
              of US dollar hedging which is valued at a loss due to the continued
              strength of the US dollar and the effect of the weaker Japanese
              yen at the end of 2001.
            Net cash flows
              are mainly converted into sterling and either applied to reduce
              debt or invested in money market instruments with financial institutions
              holding strong credit ratings. Interest rates are managed using
              a mix of financial instruments, which commence and mature at various
              dates through to November 2004. Interest rate hedging relates to
              the use of derivative contracts to alter the currency and interest
              rate profile on medium term fixed rate notes issued and to hedge
              timing mismatches.
            The unrecognised
              value on interest rate hedging at 31 December 2001 was £nil
              (2000: £2 million loss, 1999: £17 million loss). It arises
              from changes in interest rates since interest rate swaps were put
              in place and is offset by compensating adjustments to the fair value
              of the fixed rate notes issued. In broad terms, using the average
              net funds position, a 1% increase in global interest rates would
              have reduced profit before tax in the year by approximately £1
              million (2000 and 1999: £1 million) excluding the impact of
              hedging.

|7. ACCOUNTING
              POLICIES AND US GAAPCritical
              accounting policiesGroup
              accounting policies
              conform with UK GAAP. In accordance with the requirements of Financial
              Reporting Standard 18 (FRS 18), these policies and any applicable
              estimation techniques have been reviewed by the directors who have
              confirmed them to be the most appropriate for the preparation of
              the 2001 financial statements.
            In preparing
              these financial statements, management has made its best estimates
              and judgements of certain amounts included in the financial statements.
              The most significant judgemental area in 2001 related to the impairment
              of Greenhouse Fund and other fixed asset investments. The impairment
              charges reflected the substantial reduction in the value of technology
              stocks as well as a prudent management view consistent with the
              Group's position as a strategic rather than a venture capital investor.
            New UK accounting
              policiesIn 2000, the UK Accounting Standards Board issued Financial
              Reporting Standard 19 'Deferred Tax' (FRS 19). Reuters Group has
              implemented the standard which requires full provision to be made
              for deferred tax assets and liabilities arising from timing differences
              between recognition in the financial statements and in the tax computation.
              The cumulative impact of FRS 19 relating to previous years has been
              recognised in the financial statements as a prior year adjustment
              and comparative figures for 2000 and 1999 have been restated. For
              further details, see note
              24.
            US GAAPA reconciliation of net income under UK and US GAAP and a discussion
              of the relevant US accounting policies which differ materially from
              UK GAAP is given in the Summary
              of differences between UK and US generally accepted accounting principles.
            In 2001 Reuters
              Group adopted US statement of Financial Accounting 'Accounting for
              Derivative Investments and Hedging Activities'. For further details
              see Summary of differences
              between UK and US generally accepted accounting principles.
            In July 2001,
              the Financial Accounting Standards Board (FASB) issued FAS 141 'Business
              Combinations' which supersedes APB Opinion 16. FAS 141 requires
              the purchase method of accounting to be used for business combinations
              initiated after 30 June 2001, and eliminates the pooling-of-interests
              method. In addition, FAS 141 establishes specific criteria for the
              recognition of intangible assets separately from goodwill and requires
              unallocated negative goodwill to be written off immediately as an
              extraordinary gain.
            In July 2001,
              the FASB also issued FAS 142 'Goodwill and Other Intangible Assets'.
              The provisions of FAS 142 are required to be applied starting with
              fiscal years beginning after 15 December 2001. Certain provisions
              are also applicable to acquisitions completed by the Group subsequent
              to 30 June 2001. FAS 142 supersedes APB Opinion 17 'Intangible Assets'
              and requires, among other things, the discontinuance of amortisation
              related to goodwill and indefinite lived intangible assets. These
              assets will then be subject to an impairment test at least annually.
            Reuters has
              applied the non-amortisation provisions of FAS 142 to goodwill acquired
              in the Bridge and ProTrader acquisitions. For all other existing
              goodwill and intangible assets, FAS 142 will be adopted on 1 January
              2002. Due to the extensive effort needed to comply with adopting
              FAS 141 and FAS 142, it is not practicable to estimate reasonably
              the impact of adopting these statements on the Reuters financial
              statements at the date of this report, including whether any transitional
              impairment loss will be required to be recognised as the cumulative
              effect of a change in accounting principles.
            In July 2001,
              the FASB issued FAS 143 'Accounting for Asset Retirement Obligations'
              which is effective for fiscal years beginning after 15 June 2002.
              FAS 143 requires, among other things, that the fair value of a liability
              for an asset retirement obligation be recognised in the period in
              which it is incurred if a reasonable estimate of fair value can
              be made. The associated asset retirement costs are then capitalised
              as part of the carrying amount of the long-lived asset. Reuters
              will adopt FAS 143 no later than 1 January 2003. The adoption of
              FAS 143 is not expected to have a material impact on the consolidated
              financial statements.
            In August 2001,
              the FASB issued FAS 144 'Accounting for the Impairment or Disposal
              of Long-Lived Assets' which is effective for fiscal years beginning
              after 15 December 2001. FAS 144 supersedes FAS 121 'Accounting for
              the Impairment of Long-Lived Assets and for Long-Lived Assets to
              Be Disposed Of' and addresses financial accounting and reporting
              for the impairment or disposal of long-lived assets. Reuters will
              adopt FAS 144 no later than 1 January 2002. The adoption of FAS
              144 is not expected to have a material impact on our consolidated
              financial statements.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|8. RISK FACTORSForward-looking
              statementsThis
              document contains certain forward-looking statements within the
              meaning of the United States Private Securities Litigation Reform
              Act of 1995 with respect to Reuters Group's financial condition,
              results of operations and business and management's strategy, plans
              and objectives for the Group. These statements involve risk and
              uncertainty because they relate to events and depend on circumstances
              that may occur in the future. There are a number of factors that
              could cause actual results and developments to differ materially
              from those expressed or implied by these forward-looking statements.
              These factors include, but are not limited to, the risk factors
              discussed below. Any forward-looking statements made by or on behalf
              of Reuters speak only as of the date they are made. Reuters does
              not undertake to update any forward-looking statements.
            Continued
              or worsened unfavourable conditions in financial markets may have
              a significant adverse effect on Reuters and/or Instinet's businessReuters
              and Instinet's businesses are dependent upon the health of the financial
              markets and the participants in those markets. Reuters Dealing products,
              Bridge Trading and Instinet are particularly dependent upon the
              level of activity in the foreign exchange and equity and fixed income
              markets respectively. Reuters and Instinet's results were negatively
              impacted by the economic downturn in 2001, and if these conditions
              continue or get worse there could be further adverse effect on their
              businesses. In addition, Reuters and Instinet's businesses could
              be adversely affected by further consolidations among clients and
              competitors.
            Currency
              fluctuations may have a negative impact on Reuters Group reported
              revenue and earningsReuters reports results in UK pounds sterling but receives revenue
              and incurs expenses in more than 60 currencies and is thereby exposed
              to the impact of fluctuations in currency rates. Currency movements,
              in particular the strength of the US dollar, had a positive impact
              on results in 2001. Although Reuters currency cash flow exposure
              is actively managed, a strengthening of sterling from current levels,
              especially versus other currencies in which Reuters derives significant
              revenues such as the euro or the US dollar, could adversely affect
              results in future periods. In addition, the currency exposure on
              net investment and cash flow in Instinet is not currently hedged
              and accordingly may cause fluctuations in the Group's financial
              statements as a result of exchange rate movements. For additional
              information concerning currency fluctuations, see 'Treasury
              management'.
            Reuters faces
              increased competition from new and existing information providers
              using internet-based servicesThe
              availability of public internet technology is reducing barriers
              for entry to new information providers, creating additional competition
              and new price/cost dynamics in the industry. It is also increasing
              the availability of commoditised data in cheaper forms and the loss
              of control over intellectual property. As a publishing medium, it
              is creating new outlets for content providers. If Reuters is unable
              to respond effectively to any increased competitive pressure arising
              from the above factors, its revenues and results of operation could
              be adversely affected.
            Reuters is
              exposed to a decline in the valuation of companies in which it has
              invested, including TSI, Instinet, and various internet and technology
              companiesReuters
              has entered into joint ventures with, and made strategic investments
              in, a number of technology and internet companies, including investments
              made through the Greenhouse Fund, and also has significant interests
              in companies and joint ventures such as TSI, Instinet, Radianz and
              Factiva. The value of a number of these companies fluctuated widely
              and generally decreased significantly during 2000 and 2001, in part
              as a result of external market factors. The value of Reuters interests
              in these companies is dependent on, among other things, the performance
              of these companies generally, whether such performance meets investors'
              expectations, and external market and economic conditions.
            Reuters Group
              may not be able to realise the anticipated benefits of its Business
              Transformation and cost savings strategiesIn
              2000, Reuters announced a Business Transformation initiative. The
              initiative includes the development of a new product architecture,
              the implementation of a new company-wide organisation structure
              and the streamlining of systems and processes to improve quality
              and efficiency. In 2001, the Group also sought to achieve further
              cost savings by reducing headcount beyond that resulting from the
              Business Transformation initiative. While the Group expects that
              the transformation and cost-savings measures will produce significant
              competitive advantages, cost savings and eventual revenue growth,
              there can be no assurance of the extent to which these benefits
              will be realised. In addition, Reuters may not be able to successfully
              implement its product architecture and organisational transformation
              strategy or to successfully manage the transition to the new architecture
              and organisation.
            Reuters and
              Instinet may experience difficulties or delays in developing or
              responding to new technologyReuters
              and Instinet's business environment is characterised by rapid technological
              change, changing and increasingly sophisticated customer demands
              and evolving industry standards. If they are unable to anticipate
              and respond to the demand for new services, products and technologies
              on a timely and cost-effective basis and to respond and adapt to
              technological advancements and changing standards, their businesses
              may be adversely affected. In addition, new products and services
              that they may develop and introduce may not achieve market acceptance.
            Reuters and
              Instinet are dependent on third parties for the provision of certain
              network servicesReuters
              and Instinet have outsourced the day-to-day operation of most of
              their networks to Radianz, Reuters joint venture with Equant. Radianz
              will source the majority of its requirements from Equant and will
              seek to provide network services to companies in addition to Reuters
              and Instinet. Reuters and Equant are equally represented on the
              Radianz board with neither party having control. Accordingly, Reuters
              ability to affect the performance of Radianz may be limited should
              Reuters and Radianz develop conflicting network strategies in the
              future. In addition, the cooperation of both Radianz and third-party
              telecommunications providers will be required to migrate current
              customers from legacy networks and to connect new customers of Reuters
              products to Radianz,
              and Reuters may not be able to assure such connections are made
              in a timely manner. Reuters and Instinet's businesses could be adversely
              affected as a result of any of the foregoing.
            In connection
              with the Bridge acquisition, Reuters entered into a network services
              agreement with Savvis which was the primary provider of network
              services to Bridge. Reuters currently holds Savvis debt that is
              convertible into an approximately 23% equity interest in Savvis
              share capital, and has an observer on Savvis' board. Reuters has
              very limited if any ability to affect the performance of Savvis.
              In January 2002, in a public discussion of its results for the fourth
              quarter of 2001, Savvis indicated that it believed it had generated
              and was continuing to generate sufficient cash to fund its daily
              operating expenses and capital expenditures, though it also reiterated
              that it has been in default under certain of its senior debt securities
              and other financing arrangements and is seeking to raise approximately
              US$50 million in financing to be able to address debt service, payables
              reduction and receivables growth issues and fund its business plan
              going forward. Should Savvis, as a result of its financial condition
              or otherwise, fail or be unable to provide network services necessary
              to the continued conduct of the Bridge businesses acquired by Reuters
              before Reuters is able to migrate these services to Radianz or make
              other alternate arrangements, Reuters business would be adversely
              affected. If Savvis were to enter bankruptcy proceedings, it is
              also possible that Savvis may seek to terminate or renegotiate the
              network services agreement.
            Reuters and
              Instinet's businesses may be adversely affected if their networks
              or systems experience any significant failures or interruptions
              or cannot accommodate increased trafficReuters
              and Instinet's businesses are dependent on their ability to process
              speedily substantial quantities of data and transactions on their
              computer-based networks and systems and those of Radianz, Savvis
              and others. Any significant failure or interruption of such systems
              due to factors beyond their control could have a material adverse
              effect on their businesses and results of operations. Although Reuters
              and Instinet seek to minimise these risks as far as commercially
              reasonable through security controls and active business continuity
              programmes, there can be no assurance that adverse events will not
              occur.
            Market developments
              such as the emergence of online trading throughout Europe and the
              United States, high market volatility, and the multiple listing
              of options, may result in a significant increase in information
              update rates, which may impact product and network performance from
              time to time. While Reuters and Instinet have implemented a number
              of capacity management initiatives, there can be no assurance that
              they and their network providers will be able to successfully accommodate
              accelerated growth of peak traffic volumes.
            Instinet,
              Bridge Trading and other Reuters affiliates may be exposed to losses
              from broker activities or disruptions in trading marketsCertain
              Group subsidiaries act as brokers or in similar roles in the financial
              markets but do not undertake trading for their own account. These
              companies could incur losses from broken trades or the failure of
              a counterparty. While the Group seeks to mitigate these risks, there
              can be no assurance that these measures will prevent losses from
              occurring. In addition, the businesses of these companies are dependent
              upon the operation of their respective trading markets, and any
              suspension or disruption could have an adverse impact on their results
              of operations.
            Changes in
              the regulatory or competitive environment could have an adverse
              effect on Instinet's businessInstinet
              is currently regulated as an alternative trading system in the United
              States by the US Securities and Exchange Commission (SEC) and the
              National Association of Securities Dealers Inc. (NASD). Nasdaq's
              expanded SuperSoes execution system has resulted, and may continue
              to result, in Instinet receiving fewer orders in Nasdaq-quoted securities,
              which are the largest component of Instinet's equity securities
              business, and also has resulted and may continue to result in
              fewer of the orders
              Instinet receives being executed. In January 2001 the SEC approved
              a proposed NASD rule change, generally referred to as SuperMontage,
              currently expected to become effective early in the third quarter
              of 2002, which will significantly change the nature of trading in
              Nasdaq-quoted securities and could have a similar and increased
              adverse effect on Instinet's business. Instinet competes with Nasdaq
              as a trading venue for Nasdaq-quoted stocks, and Nasdaq has also
              applied for status as a for-profit exchange. A number of Instinet's
              other competitors have also applied for and/or been granted status
              as an exchange, which may afford them certain competitive advantages
              that Instinet does not have. The financial services industry generally,
              and the securities brokerage business in which Instinet engages
              in particular, is very competitive, and competition is expected
              to continue to intensify in the future. In particular, Instinet
              has experienced intense price competition in recent years, which
              has resulted in a decline in both market share and revenue. This
              trend is expected to continue.
            The NASD regulates
              the activities of Instinet's US broker-dealer subsidiaries and also
              operates and regulates the Nasdaq market. The NASD is thus able
              to propose and seek to obtain SEC approval of rule changes that
              can be to Nasdaq's competitive benefit as a securities marketplace
              and to Instinet's competitive disadvantage. Reuters is unable to
              predict at this time the impact of any proposed or potential changes
              to the regulatory environment in which Instinet and its affiliates
              operate, which may include additional changes to the Nasdaq marketplace
              considered by the NASD or the adoption by authorities in other jurisdictions
              of new methods for regulating electronic over-the-counter trading.
              Any such regulatory changes may cause Instinet and its affiliates
              to incur substantial compliance costs, or impair their ability to
              conduct their businesses, or to compete effectively.
                             
            Reuters does
              not have management control over some of its venturesReuters
              has entered into a number of joint ventures which it does not control,
              such as its Radianz joint venture. In addition, Reuters does not
              have management control over a number of companies in which it has
              invested, including TSI, where Reuters voting interests are restricted
              to 49%. Although Reuters generally seeks board representation or
              other means of participating in the management of companies or joint
              ventures in which it invests, Reuters ability to affect the performance
              of these companies or joint ventures may be limited where it does
              not exercise management control.
            Reuters may
              be exposed to adverse governmental action in countries where it
              conducts reporting activitiesAs
              the world's largest news and information agency, Reuters may suffer
              discriminatory tariffs or other forms of adverse government intervention
              due to the nature of its editorial and other reporting activities.
            Reuters may
              not be able to realise the anticipated benefits of the Bridge acquisitionSuccess
              of the Bridge acquisition will depend, among other things, on the
              ability of Reuters to realise the anticipated synergies, cost savings
              and growth opportunities from the acquisition and the integration
              of the acquired businesses, which will entail substantial expenditures
              and resources to effect. In addition, Reuters has agreed to provide
              certain data collection, aggregation and delivery services, administration
              services and other transitional services to Moneyline Telerate,
              the purchaser of certain other business operations from Bridge,
              including the Telerate business worldwide and the BridgeStation/BridgeFeed
              business in Europe and Asia, that are currently dependent on the
              assets and operations Reuters acquired. Provision of these services
              may require a substantial devotion of resources and potentially
              delay or impair Reuters ability to fully integrate the acquired
              Bridge businesses. In turn, Reuters ability to operate the businesses
              it acquired in Europe and Asia is dependent in part on the assets
              and operations acquired by Moneyline Telerate. Moneyline Telerate
              has agreed to provide Reuters necessary services in these areas.
              If it fails to do so, the businesses acquired by Reuters could be
              adversely affected.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|
|
|

|FINANCIAL STATEMENTS
|--------------------

|PROFIT AND LOSS ACCOUNT
|-----------------------

|                                                                                               |                                      |         |                     |                                          |                                         
|---------------------------------------------------------------------------------------------- | ------------------------------------ | ------- | ------------------- | ---------------------------------------- | ----------------------------------------
|CONSOLIDATED
              PROFIT AND LOSS ACCOUNTFOR THE
              YEAR ENDED 31 DECEMBER |                                      |         |                     |                                         
|                                                                                               |                                      |         |                     |                                          |                                         
|                                                                                               |                                      | Notes   | 2001
            £m | Restated
            2000
            £m | Restated
            1999
            £m
|                                                                                              
|Revenue: Group
            and share of joint ventures                                         |                                      | 3,990   | 3,678               | 3,160                                   
|                                                                                               | less share of joint ventures revenue |         | (105)               | (86)                                     | (35)                                    
|Continuing
            operations                                                              |                                      | 3,787   | 3,592               | 3,125                                   
|Acquisitions                                                                                   |                                      | 98      |                    |                                        
|Group
            revenue                                                                      | 1                                    | 3,885   | 3,592               | 3,125                                   
|Operating
            costs                                                                    | 2                                    | (3,583) | (3,181)             | (2,576)                                 
|Continuing
            operations                                                              |                                      | 337     | 411                 | 549                                     
|Acquisitions                                                                                   |                                      | (35)    |                    |                                        
|Operating
            profit                                                                   |                                      | 302     | 411                 | 549                                     
|Share
            of operating losses of joint ventures                                        |                                      | (46)    | (17)                | (6)                                     
|Impairment
            of investments in joint ventures                                        | 16                                   | (16)    |                    |                                        
|Share
            of operating losses of associates                                            |                                      | (39)    | (16)                | (11)                                    
|Impairment
            of investment in associate                                              | 16                                   | (26)    |                    |                                        
|Profit
            on disposals of subsidiary undertakings                                     | 31                                   | 216     | 10                  | 52                                      
|Profit
            on disposals of fixed assets/investments                                    |                                      | 18      | 291                 | 50                                      
|Income
            from fixed asset investments                                                |                                      | 3       | 5                   | 2                                       
|Amounts
            written off fixed asset investments                                        | 16                                   | (245)   | (30)                |                                        
|Net
            interest (payable)/receivable                                                  | 3                                    | (9)     | 3                   | (4)                                     
|                                                                                              
|Profit
            on ordinary activities before taxation                                      |                                      | 158     | 657                 | 632                                     
|Taxation
            on profit on ordinary activities                                          | 4                                    | (107)   | (136)               | (196)                                   
|                                                                                              
|Profit
            on ordinary activities after taxation                                       |                                      | 51      | 521                 | 436                                     
|Equity
            minority interests                                                          |                                      | (5)     |                    |                                        
|                                                                                              
|Profit
            attributable to ordinary shareholders                                       |                                      | 46      | 521                 | 436                                     
|Dividends                                                                                      | 5                                    | (140)   | (224)               | (206)                                   
|                                                                                              
|(Loss)/retained
            profit                                                             |                                      | (94)    | 297                 | 230                                     
|                                                                                              
|Basic
            earnings per ordinary share                                                  | 6                                    | 3.3p    | 37.1p               | 30.9p                                   
|Diluted
            earnings per ordinary share                                                | 6                                    | 3.2p    | 36.5p               | 30.4p                                   
|The profit for the
            year has been computed on an unmodified historical cost basis. 

|                                                                                                                                                                                                                           |       |                     |                                          |                                         
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ------------------- | ---------------------------------------- | ----------------------------------------
|CONSOLIDATED
              STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE YEAR ENDED 31 DECEMBER                                                                                                                  
|                                                                                                                                                                                                                           | Notes | 2001
            £m | Restated
            2000
            £m | Restated
            1999
            £m
|                                                                                                                                                                                                                          
|Profit
            attributable to ordinary shareholders                                                                                                                                                                   |       | 46                  | 521                                      | 436                                     
|Unrealised
            gain on deemed partial disposal of subsidiary                                                                                                                                                       | 31    | 11                  |                                         |                                        
|Unrealised
            gains on formation of joint ventures and associates                                                                                                                                                 |       |                    | 73                                       |                                        
|Unrealised
            gain on deemed partial disposal of associate                                                                                                                                                        |       |                    | 39                                       |                                        
|Unrealised
            gains on disposals of fixed asset investments                                                                                                                                                       |       |                    | 13                                       |                                        
|Translation
            differences taken directly to reserves                                                                                                                                                             |       | 23                  | 40                                       | 10                                      
|                                                                                                                                                                                                                          
|Total
            recognised gains and losses relating to the year                                                                                                                                                         |       | 80                  | 686                                      | 446                                     
|                                                                                                                                                                                                                          
|Prior
            year adjustment (see note
            24)                                                                                                                                                                |       | 51                  |                                          |                                         
|                                                                                                                                                                                                                          
|Total gains
            and losses recognised since last annual report                                                                                                                                                     |       | 131                 |                                          |                                         
|                                                                                                                                                                                                                          
|Restated following
            adoption of FRS 19 (see note
            24).
            
            A detailed statement
              showing the movement in capital and reserves is set out in note
              26.

|NOTES ON THE CONSOLIDATED PROFIT AND
LOSS ACCOUNT
|-------------------------------------------------

|1.
            SEGMENTAL ANALYSISThe tables
            below show a segmental analysis of revenue, costs and profit which
            reflects the way Reuters was managed at 31 December 2001. During the
            periods under review the Group has been managed on a divisional basis,
            comprising Reuters Information, Reuters Trading Solutions (together
            referred to as Reuters Financial), Reuterspace and Instinet. For comparability
            the divisional results for 1999 exclude Reuters Business Briefing
            (RBB) and TIBCO Software Inc. (TSI). RBB is now part of the Factiva
            joint venture, which became effective in July 1999. TSI was floated
            on the Nasdaq stock market in July 1999 and is accounted for as an
            associate.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|By
            division                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Reuters
            Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Reuters
            Trading Solutions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Bridge                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            Financial                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Divisional
            revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|TSI/RBB                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Share
            of joint ventures revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Intra-group
            revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Gross
            revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Less
            share of joint ventures revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Group
            revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Reuters
            Financial                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Divisional
            costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|TSI/RBB                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Business
            Transformation costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Other
            restructuring costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Intra-group
            costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Group
            costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Divisional
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Reuters
            Financial                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Net
            currency (loss)/gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Divisional
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Business
            Transformation costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Other
            restructuring costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|TSI/RBB                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Goodwill
            and other intangibles                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Reuters
            Financial                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Total
            amortisation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Operating
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Revenue is normally
            invoiced in the same geographical area in which the customer is located.
            Revenue earned, therefore, generally represents revenue both by origin
            and by destination.
            
            The geographical
              analysis of performance reflects the revenues earned and
              operating costs incurred in each area excluding centrally managed
              costs which include development, editorial, divisional and corporate
              support costs and amortisation of goodwill and other intangible
              assets. It does not purport to show geographical profitability.                                                                                                                                                  

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                     |                      |                     |                      |                     
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------- | -------------------- | ------------------- | -------------------- | --------------------
|By
            geography                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2001
            £m | %
            change | 2000
            £m | %
            change | 1999
            £m 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                     |                      |                     |                      |                     
|Europe,
            Middle East and Africa                                                                                                                                                                                                                                                                                                                                                                                                                               | 1,838               | 9%                   | 1,689               | 3%                   | 1,643               
|The
            Americas                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1,502               | 12%                  | 1,344               | 37%                  | 979                 
|Asia/Pacific                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 545                 | (3%)                 | 559                 | 11%                  | 503                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 3,885               | 8%                   | 3,592               | 15%                  | 3,125               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Operating
            costs where incurred                                                                                                                                                                                                                                                                                                                                                                                                                               |                     |                      |                     |                      |                     
|Europe,
            Middle East and Africa                                                                                                                                                                                                                                                                                                                                                                                                                               | (1,091)             | 7%                   | (1,023)             | 8%                   | (948)               
|The
            Americas                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (996)               | 11%                  | (899)               | 22%                  | (737)               
|Asia/Pacific                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (231)               | (13%)                | (264)               | 4%                   | (255)               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (2,318)             | 6%                   | (2,186)             | 13%                  | (1,940)             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Contribution                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                     |                      |                     |                      |                     
|Europe,
            Middle East and Africa                                                                                                                                                                                                                                                                                                                                                                                                                               | 747                 | 12%                  | 666                 | (4%)                 | 695                 
|The
            Americas                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 506                 | 14%                  | 445                 | 84%                  | 242                 
|Asia/Pacific                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 314                 | 6%                   | 295                 | 19%                  | 248                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1,567               | 12%                  | 1,406               | 19%                  | 1,185               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Central
            costs                                                                                                                                                                                                                                                                                                                                                                                                                                                |                     |                      |                     |                      |                     
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (989)               | 15%                  | (858)               | 34%                  | (642)               
|Business
            Transformation costs                                                                                                                                                                                                                                                                                                                                                                                                                                | (164)               | 18%                  | (139)               |                     |                    
|Other
            restructuring costs                                                                                                                                                                                                                                                                                                                                                                                                                                    | (99)                |                     |                    |                     |                    
|Net
            currency (loss)/gain                                                                                                                                                                                                                                                                                                                                                                                                                                     | (13)                |                     | 2                   | (67%)                | 6                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Operating
            profit                                                                                                                                                                                                                                                                                                                                                                                                                                             | 302                 | (26%)                | 411                 | (25%)                | 549                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|United Kingdom and
            Ireland revenue was £521 million (2000: £522 million, 1999:
            £541 million). With the exception of Instinet, Reuters products
            are sold primarily through a common geographical infrastructure and
            delivered over a number of communications networks.
            
            The impact of
              the Bridge acquisition is reflected principally in the Americas
              (see note 31).
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                     |                      |                     |                      |                     
|Revenue
            by type                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2001
            £m | %
            change | 2000
            £m | %
            change | 1999 
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Recurring                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2,724               | 7%                   | 2,537               | 9%                   | 2,338               
|Usage                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 946                 | 10%                  | 863                 | 42%                  | 609                 
|Outright                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 215                 | 13%                  | 192                 | 8%                   | 178                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 3,885               | 8%                   | 3,592               | 15%                  | 3,125               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Recurring revenue
            is derived from the sale of subscription services, including maintenance
            contracts. Usage revenue is principally derived from Instinet, Dealing
            2000-2 and Dealing 3000 Spot Matching. Outright revenue comprises
            once-off sales including information and risk management solutions.                                                                                                                 

|2.
            OPERATING COSTS                                                                                                                                                                                                                                                                                                                                    
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                  
|Cost
            by type                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                  
|Salaries,
            commission and allowances                                                                                                                                                                                                                                                                                                                   
|Social
            security costs                                                                                                                                                                                                                                                                                                                                 
|Other,
            pension costs (see note 23)                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                  
|Staff
            costs                                                                                                                                                                                                                                                                                                                                           
|Services                                                                                                                                                                                                                                                                                                                                                          
|Depreciation                                                                                                                                                                                                                                                                                                                                                      
|Data                                                                                                                                                                                                                                                                                                                                                              
|Communications                                                                                                                                                                                                                                                                                                                                                    
|Space                                                                                                                                                                                                                                                                                                                                                             
|Cost
            of sales and other                                                                                                                                                                                                                                                                                                                               
|Goodwill
            and other intangibles                                                                                                                                                                                                                                                                                                                        
|Reimbursement
            of costs                                                                                                                                                                                                                                                                                                                                
|Currency
            hedging activities  net loss/(gain)                                                                                                                                                                                                                                                                                                         
|Foreign
            currency translation  net loss                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                  
|Services
            include equipment hire and bought-in services, including consultancy
            and contractors, advertising and publicity, professional fees and
            staff-related expenses. Reimbursement of costs comprises amounts received
            from joint ventures in respect of costs incurred by Reuters on their
            behalf.
|                                                                                                                                                                                                                                                                                                                                                                  

|                                                                                                                                                                                                                                                                                                                                                                                    |                                         |                      |                      |                      |                      |                    
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------- | -------------------- | -------------------- | -------------------- | -------------------- | -------------------
|Cost
            by function                                                                                                                                                                                                                                                                                                                                                        | 2001
            £m                     | %
            change | 2000
            £m  | %
            change | 1999
            £m 
|                                                                                                                                                                                                                                                                                                                                                                                   
|Production
            and communications                                                                                                                                                                                                                                                                                                                                           | 1,826                                   | 6%                   | 1,731                | 11%                  | 1,556               
|Selling
            and marketing                                                                                                                                                                                                                                                                                                                                                   | 706                                     | 14%                  | 621                  | 21%                  | 513                 
|Support
            services and administration                                                                                                                                                                                                                                                                                                                                     | 694                                     | 10%                  | 633                  | 36%                  | 466                 
|Business
            Transformation                                                                                                                                                                                                                                                                                                                                                 | 263                                     | 89%                  | 139                  |                     |                    
|Goodwill
            and other intangibles                                                                                                                                                                                                                                                                                                                                          | 81                                      | 37%                  | 59                   | 26%                  | 47                  
|Net
            currency loss/(gain)                                                                                                                                                                                                                                                                                                                                                | 13                                      |                     | (2)                  | (67%)                | (6)                 
|                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                    | 3,583                                   | 13%                  | 3,181                | 23%                  | 2,576               
|                                                                                                                                                                                                                                                                                                                                                                                   
|Costs
            include:                                                                                                                                                                                                                                                                                                                                                          |                                         |                      |                      |                      |                     
|                                                                                                                                                                                                                                                                                                                                                                                   
|Development
            expenditure                                                                                                                                                                                                                                                                                                                                                 | 294                                     | (9%)                 | 323                  | 64%                  | 197                 
|Operating
            lease expenditure:                                                                                                                                                                                                                                                                                                                                            |                                         |                      |                      |                      |                     
|                                                                                                                                                                                                                                                                                                                                                                                    | Hire
            of equipment           | 13                   | 30%                  | 10                   | 11%                  | 9                  
|                                                                                                                                                                                                                                                                                                                                                                                    | Other,
            principally property | 108                  | 30%                  | 83                   | 5%                   | 79                 
|Loss
            on disposal of tangible fixed assets                                                                                                                                                                                                                                                                                                                               | 11                                      | 10%                  | 10                   | (17%)                | 12                  
|Advertising                                                                                                                                                                                                                                                                                                                                                                         | 34                                      | (33%)                | 50                   | 76%                  | 29                  
|Reversal
            of third-party data feed accrual                                                                                                                                                                                                                                                                                                                               |                                        |                     |                     |                     | (25)                
|                                                                                                                                                                                                                                                                                                                                                                                   
|Fees payable to PricewaterhouseCoopers were as follows:                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                    | 2001
            £m                     | %
            change | 2000
            £m  | %
            change | 1999
            £m 
|                                                                                                                                                                                                                                                                                                                                                                                   
|Audit
            fees:                                                                                                                                                                                                                                                                                                                                                             |                                         |                      |                      |                      |                     
|                                                                                                                                                                                                                                                                                                                                                                                    | United
            Kingdom              | 0.9                  |                     | 0.9                  | (10%)                | 1.0                
|                                                                                                                                                                                                                                                                                                                                                                                    | Overseas                                | 1.3                  | 44%                  | 0.9                  |                     | 0.9                
|                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                    | 2.2                                     | 22%                  | 1.8                  | (5%)                 | 1.9                 
|                                                                                                                                                                                                                                                                                                                                                                                   
|Audit
            related services:                                                                                                                                                                                                                                                                                                                                                 |                                         |                      |                      |                      |                     
|                                                                                                                                                                                                                                                                                                                                                                                    | United
            Kingdom              | 0.2                  | (82%)                | 1.1                  | 22%                  | 0.9                
|                                                                                                                                                                                                                                                                                                                                                                                    | Overseas                                | 2.8                  | 133%                 | 1.2                  | (78%)                | 5.4                
|                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                    |                                         | 3.0                  | 30%                  | 2.3                  | (48%)                | 6.3                
|                                                                                                                                                                                                                                                                                                                                                                                   
|Non-audit
            services:                                                                                                                                                                                                                                                                                                                                                     |                                         |                      |                      |                      |                     
|                                                                                                                                                                                                                                                                                                                                                                                    | United
            Kingdom              | 8.1                  | 56%                  | 5.2                  | 37%                  | 3.8                
|                                                                                                                                                                                                                                                                                                                                                                                    | Overseas                                | 1.8                  | (68%)                | 5.6                  |                     | 0.5                
|                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                    |                                         | 9.9                  | (8%)                 | 10.8                 | 151%                 | 4.3                
|                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                    |                                         | 15.1                 | 1%                   | 14.9                 | 19%                  | 12.5               
|                                                                                                                                                                                                                                                                                                                                                                                   
|The United Kingdom audit fee of £0.9 million includes £10,000
              in respect of the parent company audit.
            Non-audit services
              were as follows:                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                    |                                         | 2001
            £m  | %
            change | 2000
            £m  | %
            change | 1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                   
|Management
            consultancy                                                                                                                                                                                                                                                                                                                                                  | 7.8                                     | 10%                  | 7.1                  | 344%                 | 1.6                 
|Taxation
            advice                                                                                                                                                                                                                                                                                                                                                         | 2.1                                     | (43%)                | 3.7                  | 37%                  | 2.7                 
|                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                    |                                         | 9.9                  | (8%)                 | 10.8                 | 151%                 | 4.3                
|                                                                                                                                                                                                                                                                                                                                                                                   
|The
            directors consider it important that the company has access to a broad
            range of external advice, including from PricewaterhouseCoopers. Where
            appropriate, work is put out to competitive tender. The Audit Committee
            monitors the relationship with PricewaterhouseCoopers, including the
            level of non-audit fees.

|3.
            NET INTEREST RECEIVABLE/(PAYABLE) |                                                                                       |                     |                    
|------------------------------------------------ | ------------------------------------------------------------------------------------- | ------------------- | -------------------
|                                                 |                                                                                       |                     |                    
|                                                 | 2001
            £m                                                                   | 2000
            £m | 1999
            £m
|                                                
|Interest
            receivable:                 |                                                                                       |                     |                    
|                                                 | Listed
            investments                                                        | 1                   | 5                  
|                                                 | Unlisted
            investments                                                      | 28                  | 19                 
|                                                 | Share
            of joint ventures and associates interest (see
            note 16) | 16                  | 13                 
|                                                
|                                                 | 45                                                                                    | 37                  | 46                 
|                                                
|Interest
            payable:                    |                                                                                       |                     |                    
|                                                 | Bank
            loans and overdraft                                                  | (3)                 | (3)                
|                                                 | Other
            borrowings                                                          | (51)                | (31)               
|                                                
|                                                 | (54)                                                                                  | (34)                | (50)               
|                                                
|                                                 | (9)                                                                                   | 3                   | (4)                
|                                                

|4.
            TAXATION ON PROFIT ON ORDINARY ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                               |                                          |                                         
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------- | ---------------------------------------- | ----------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                               |                                          |                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2001
            £m                                                           | Restated
            2000
            £m | Restated
            1999
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|UK
            corporation tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                               |                                          |                                         
|Current
            tax on income for the period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 37                                                                            | 292                                      | 91                                      
|Share
            of joint ventures and associates tax (see note 16)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (4)                                                                           |                                         |                                        
|Adjustments
            in respect of prior periods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (19)                                                                          | (40)                                     | 9                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 14                                                                            | 252                                      | 100                                     
|Double
            taxation relief                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (23)                                                                          | (264)                                    | (14)                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (9)                                                                           | (12)                                     | 86                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Foreign
            tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                               |                                          |                                         
|Current
            tax on income for the period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 150                                                                           | 133                                      | 103                                     
|Share
            of joint ventures and associates tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                              | 1                                        |                                        
|Adjustments
            in respect of prior periods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 16                                                                            | 15                                       | 7                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 166                                                                           | 149                                      | 110                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Deferred
            taxation (see note 24)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (50)                                                                          | (1)                                      |                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 107                                                                           | 136                                      | 196                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Reconciliation
            to the UK nominal tax rate:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                               |                                          |                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Effective
            tax rate                                                | 67%                                      | 21%                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | UK
            nominal tax rate                                               | 30%                                      | 30%                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Taxes
            as shown in these financial statements                      | 107                                      | 136                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Corporation
            tax on pre-tax profit at UK nominal rate              | 48                                       | 197                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Difference                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 59                                                                            | (61)                                     | 5                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|The
            difference is principally due to:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                               |                                          |                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Non-tax
            deductible amortisation of goodwill and other intangibles | 28                                       | 21                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Book
            profit on TSI public share issues not taxable                |                                         | (47)                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Tax
            deduction arising from exercise of employee options           |                                         | (60)                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Book
            profit on Instinet IPO not taxable                           | (60)                                     |                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Non-tax
            deductible investment impairments                         | 86                                       |                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Impact
            of restating for FRS19                                     |                                         | 11                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Other
            differences                                                 | 5                                        | 14                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 59                                                                            | (61)                                     | 5                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|The other differences are primarily due to overseas profits taxed
              at rates differing from those in the UK and the geographical mix
              of profits.
            No tax is expected
              to fall due in respect of the disposal of fixed asset investments,
              subsidiaries and associates in 2001 (2000: £34 million).
            There is no
              tax impact on the unrealised gains arising in 2001 (2000: £3
              million charge on unrealised gains on disposals of fixed asset investments).

|5.
            DIVIDENDS         
|---------------------------------
|                                 
|                                 
|                                 
|Interim
            paid         
|Final
            (2001 proposed)
|                                 
|                                 
|                                 
|Per
            ordinary share   
|                                 
|Interim
            paid         
|Final
            (2001 proposed)
|                                 
|                                 
|                                 

|6.
            EARNINGS PER ORDINARY SHAREBasic and
            diluted earnings per ordinary share are based on the profit attributable
            to ordinary shareholders and on the weighted average number of those
            shares in issue during the year. The weighted average number of shares
            in issue may be reconciled to the number used in the basic and diluted
            earnings per ordinary share calculations as follows:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Weighted
            average number in millions                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Ordinary
            shares in issue                                                                                                                                                                                                                                                                                                                                                                                                                            
|Non-vested
            shares held by employee share ownership trusts                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Basic
            earnings per share denominator                                                                                                                                                                                                                                                                                                                                                                                                                
|Issuable
            on conversion of options                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Diluted
            earnings per share denominator                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                

|7. REMUNERATION
            OF DIRECTORS
            The report on remuneration and related matters includes
            details of directors' emoluments, pension arrangements, long-term
            incentive plans and stock option plans; those details form part of
            these financial statements.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|8.
            EMPLOYEE INFORMATIONThe average
            number of employees during the year was as follows:
|--------------------------------------------------------------------------------------------------------------
|                                                                                                              
|By
            division                                                                                       
|                                                                                                              
|Reuters
            Financial                                                                                 
|Reuterspace                                                                                                   
|Instinet                                                                                                      
|TSI/RBB                                                                                                       
|                                                                                                              
|                                                                                                              
|                                                                                                              
|By
            location                                                                                       
|Europe,
            Middle East and Africa                                                                    
|The
            Americas                                                                                      
|Asia/Pacific                                                                                                  
|                                                                                                              
|                                                                                                              
|                                                                                                              
|By
            function                                                                                       
|Production
            and communications                                                                     
|Selling
            and marketing                                                                             
|Support
            services and administration                                                               
|                                                                                                              
|                                                                                                              
|                                                                                                              
|The
            above include:                                                                                
|                                                                                                              
|                                                                                                              
|                                                                                                              
|The average number
            of employees during 2001 included 341 temporary staff.                         

|CASH FLOW
STATEMENT
|-------------------

|CONSOLIDATED
              CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER                               
|------------------------------------------------------------------------------------------------------------
|                                                                                                            
|                                                                                                            
|                                                                                                            
|Net
            cash inflow from operating activities                                                       
|Dividends
            received from associates                                                              
|Returns
            on investments and servicing of finance                                                 
|Interest
            received                                                                               
|Interest
            paid                                                                                   
|Income
            from fixed asset investments                                                             
|                                                                                                            
|Net
            cash (outflow)/inflow from returns on investments and servicing of
            finance      
|Taxation
            paid                                                                                   
|Capital
            expenditure and financial investment                                                    
|Purchase
            of tangible fixed assets                                                               
|Sale
            of tangible fixed assets                                                                   
|Purchase
            of fixed asset investments                                                             
|Sale
            of fixed asset investments                                                                 
|                                                                                                            
|Net
            cash outflow on capital expenditure and financial investment                                
|Acquisitions
            and disposals (including joint ventures and associates)                            
|Equity
            dividends paid                                                                           
|                                                                                                            
|Cash
            inflow/(outflow) before management of liquid resources and financing                       
|Management of
              liquid resources
              Net (increase)/decrease in short-term investments
|Financing                                                                                                   
|Proceeds
            from the issue of shares                                                               
|Shares
            repurchased                                                                              
|Net
            increase/(decrease) in borrowings                                                           
|                                                                                                            
|Net
            cash inflow/(outflow) from financing                                                        
|                                                                                                            
|Increase/(decrease)
            in cash                                                                     
|                                                                                                            
|                                                                                                            
|                                                                                                            
|                                                                                                            
|Reconciliation
            of net cash flow to movement in net funds                                        
|Increase/(decrease)
            in cash                                                                     
|Cash
            (inflow)/outflow from movement in borrowings                                               
|Cash
            outflow/(inflow) from movement in liquid resources                                         
|                                                                                                            
|Change
            in net funds resulting from cash flows                                                   
|Net
            funds arising on acquisitions                                                               
|Translation
            differences                                                                         
|                                                                                                            
|Movement
            in net funds/(debt)                                                                    
|Opening
            net (debt)/funds                                                                        
|                                                                                                            
|Closing
            net funds/(debt)                                                                        
|                                                                                                            

|NOTES ON THE CONSOLIDATED PROFIT AND
LOSS ACCOUNT
|-------------------------------------------------

|9. NET CASH
              INFLOW FROM OPERATING ACTIVITIES
            Operating profit
              is reconciled to net cash inflow from operating activities as follows:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                            
|                                                                                                                                                                            
|                                                                                                                                                                            
|Operating
            profit                                                                                                                                                
|Depreciation                                                                                                                                                                
|Amortisation
            of goodwill and other intangibles                                                                                                                  
|Decrease/(increase)
            in stocks                                                                                                                                   
|Increase
            in debtors                                                                                                                                             
|Increase
            in creditors                                                                                                                                           
|Loss
            on disposal of fixed assets                                                                                                                                
|Amortisation
            of interests in own shares                                                                                                                         
|Other,
            principally translation differences                                                                                                                      
|                                                                                                                                                                            
|Net
            cash inflow from operating activities                                                                                                                       
|                                                                                                                                                                            

|10.
            ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN THE CASH FLOW STATEMENT                           
|----------------------------------------------------------------------------------------------------------------
|                                                                                                                
|                                                                                                                
|                                                                                                                
|Acquisitions
            and disposals (including joint ventures and associates)
            Cash consideration:
|                                                                                                                
|                                                                                                                
|                                                                                                                
|                                                                                                                
|                                                                                                                
|                                                                                                                
|                                                                                                                
|Less
            cash acquired                                                                                  
|                                                                                                                
|                                                                                                                
|Cash
            received from disposals (including deemed disposals):                                          
|                                                                                                                
|                                                                                                                
|                                                                                                                
|                                                                                                                
|                                                                                                                
|Management
            of liquid resources                                                                      
|Increase
            in term deposits                                                                           
|Decrease
            in term deposits                                                                           
|Purchase
            of certificates of deposit                                                                 
|Sale
            of certificates of deposit                                                                     
|Purchase
            of listed/unlisted securities                                                              
|Sale
            of listed/unlisted securities                                                                  
|                                                                                                                
|                                                                                                                
|                                                                                                                
|Financing                                                                                                       
|Increase/(decrease)
            in short-term borrowings                                                        
|Increase
            in long-term borrowings                                                                    
|                                                                                                                
|                                                                                                                
|                                                                                                                

|11.
            ANALYSIS OF NET FUNDS
|-------------------------------------
|                                     
|                                     
|                                     
|                                     
|                                     
|31
            December 1999         
|Cash
            flow                
|Exchange
            movements       
|Arising
            on acquisition   
|                                     
|31
            December 2000         
|Cash
            flow                
|Exchange
            movements       
|Arising
            on acquisition   
|                                     
|31
            December 2001         
|                                     

|12. DERIVATIVES
              AND OTHER FINANCIAL INSTRUMENTSA substantial portion of Reuters revenue is receivable in foreign
              currencies with terms of payment up to six months in advance. As
              such, Reuters is subject to currency exposure from committed revenue
              and additionally, to interest rate risk from borrowing and the investment
              of cash balances. Reuters seeks to limit these risks by entering
              into a mix of derivative financial instruments, which include forward
              contracts, options (including cylinders), swaps and forward rate
              agreements. For a more detailed discussion see Reuters Group treasury
              management.
            If the derivative
              financial instruments were considered separately from the underlying
              future revenue and interest, Reuters would be subject to market
              risk on these financial instruments from fluctuations in currency
              and interest rates. Reuters only enters into such derivative financial
              instruments to hedge (or reduce) the underlying exposure described
              above. There is, therefore, no net market risk on such derivative
              financial instruments and only a credit risk from the potential
              non-performance by counterparties. The amount of this credit risk
              is generally restricted to any hedging gain and not the principal
              amount hedged.
            Derivative instruments
              held at 31 December were:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Currency management
              Foreign exchange forward contracts:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Foreign
            currency options:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Interest
            rate management                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Interest
            rate swaps                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Interest
            rate collars                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Forward
            rate agreements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|The
            following table provides an analysis by currency of foreign exchange
            forward contracts and options held for currency hedging purposes as
            at 31 December.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |                       |                        |                       |                        |                      
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------- | --------------------- | ---------------------- | --------------------- | ---------------------- | ---------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        | 2001                  |                        | 2000                  |                        | 1999                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Forwards
            % | Options
            % | Forwards
            % | Options
            % | Forwards
            % | Options
            %
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Euro                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 22                     | 90                    | 16                     | 53                    | 28                     | 48                   
|Japanese
            yen                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 31                     |                      | 24                     |                      | 30                     |                     
|US
            dollar                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 23                     | 10                    | 42                     | 47                    | 21                     | 50                   
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 24                     |                      | 18                     |                      | 21                     | 2                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 100                    | 100                   | 100                    | 100                   | 100                    | 100                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Foreign exchange
              forward contracts and options mature at dates up to two years from
              the balance sheet date. Interest rate swaps commence and mature
              at various dates through to November 2004.
            The fair values
              of foreign currency and interest rate management instruments are
              estimated on the basis of market quotes, discounted to current value
              using market-quoted interest rates.
            The weighted
              average variable rate payable on the interest rate swaps used to
              alter the currency and interest rate profile of debt issues at 31
              December was 4% (2000: 6%, 1999: 7%). The weighted average variable
              rate is based on the rate implied in the yield curve at the balance
              sheet date.
            All derivative
              instruments are unsecured. However, Reuters does not anticipate
              non-performance by the counterparties who are all banks with recognised
              long-term credit ratings of 'A3/A' or higher.
            Tables containing
              information on hedging gains and losses are set out in treasury
              management.
            Carrying and
              fair values of group financial assets and liabilities at 31 December
              were:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                   |                                           | 2001                                  |                                           | 2000                                  |                                           | 1999                                 
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------- | ----------------------------------------- | ------------------------------------- | ----------------------------------------- | ------------------------------------- | ----------------------------------------- | -------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                   | Carrying
            value
            £m | Fair
            value
            £m | Carrying
            value
            £m | Fair
            value
            £m | Carrying
            value
            £m | Fair
            value
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Derivative
            instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                                  | 9                                         | 3                                     | (3)                                       |                                      | (13)                                     
|Other
            financial assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                                   |                                           |                                       |                                           |                                       |                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Fixed
            asset investments               | 140                                       | 160                                   | 371                                       | 529                                   | 127                                       | 733                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Long-term
            debtors                     | 15                                        | 15                                    | 19                                        | 19                                    | 19                                        | 19                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Short-term
            investments and cash       | 1,157                                     | 1,160                                 | 647                                       | 647                                   | 609                                       | 609                                  
|Other
            financial liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                   |                                           |                                       |                                           |                                       |                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Short-term
            borrowings                 | (681)                                     | (681)                                 | (393)                                     | (393)                                 | (307)                                     | (307)                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Long-term
            borrowings                  | (338)                                     | (338)                                 | (288)                                     | (286)                                 | (261)                                     | (244)                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Other
            long-term financial liabilities | (10)                                      | (10)                                  | (11)                                      | (11)                                  | (12)                                      | (12)                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|The fair value
              of fixed asset investments is the carrying value unless the investment
              has a readily determinable market value which is higher.
            The fair value
              of listed short-term investments was based on quoted market prices
              for those investments. The carrying amount of the other short-term
              deposits and investments approximated to their fair values due to
              the short maturity of the instruments held.
            The fair value
              of short-term borrowings approximated to the carrying value due
              to the short maturity of the investments.
            The fair value
              of long-term liabilities is after taking into account the effect
              of interest rate swaps.
            Short-term debtors
              and creditors have been excluded from the above analysis and all
              other disclosures in this note, other than the currency risk disclosures.
            Financial
              instrument sensitivity analysisThe
              analysis below summarises the sensitivity of the fair value of the
              Group's financial instruments to hypothetical changes in market
              rates. Fair values are the present value of future cash flows based
              on market rates at the valuation date.
            The estimated
              adverse changes in the fair value of financial instruments are based
              on an instantaneous:

|i)  | 1% increase in
            the specific rate of interest from the levels effective at 31 December
            2001 with all other variables remaining constant; and            
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ii) | 10% weakening in the
        value of sterling against all other currencies from the levels applicable
        at 31 December 2001 with all other variables remaining constant.

|                                                                                                                                                                                |                                             |                                                                                |                                                                                                                                              |     
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------- | ----
|                                                                                                                                                                                | Fair
            value changes arising from
|                                                                                                                                                                               
|                                                                                                                                                                                | Fair
            value
            £m       | 1% increase in
            interest rates
            (adverse)
            £m | 10%
              weakening
              in £ against
              other
              currencies
              (adverse)
              £m
|                                                                                                                                                                               
|Currency
            swaps and interest rate swaps                                                                                                                              |                                            | (3)                                                                            | (2)                                                                                                                                         
|Foreign
            exchange:                                                                                                                                                   |                                             |                                                                                |                                                                                                                                             
|                                                                                                                                                                                | Forward
            contracts               | 10                                                                             |                                                                                                                                             | (23)
|                                                                                                                                                                                | Currency
            options                | (1)                                                                            |                                                                                                                                             | (9) 
|                                                                                                                                                                               
|                                                                                                                                                                                | 9                                           | (3)                                                                            | (34)                                                                                                                                        
|                                                                                                                                                                               
|Monetary
            assets and liabilities by currency, after cross currency swaps, excluding
            the functional currency of each operation at 31 December 2001, were:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                       |                                                                |                          |                     |                                        |                                         |                                             |                      |                     
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------- | -------------------------------------------------------------- | ------------------------ | ------------------- | -------------------------------------- | --------------------------------------- | ------------------------------------------- | -------------------- | --------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                       | Net
            foreign currency monetary assets/(liabilities)
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                       | Sterling
            £m                                        | US dollar
            £m | Euro
            £m | Swiss
            franc
            £m | Japanese
            yen
            £m | Hong Kong
            dollar
            £m | Other
            £m | Total
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Functional currency
              of operation:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                       |                                                                |                          |                     |                                        |                                         |                                             |                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Sterling              |                                                               | 31                       | 59                  | 77                                     | (50)                                    | (31)                                        | 66                   | 152                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | US
            dollar | 96                                                             |                         | 38                  | 2                                      | 13                                      | 28                                          | 2                    | 179                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                       | 96                                                             | 31                       | 97                  | 79                                     | (37)                                    | (3)                                         | 68                   | 331                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Net currency
              gains and losses arising from monetary assets and liabilities not
              in the functional currency of an operation are recognised in its
              profit and loss account. Those arising from the translation of US
              dollar functional currency financial statements into sterling (principally
              Instinet) are recognised in the statement of total recognised gains
              and losses.
            The currency
              and interest rate profile of the Group's financial assets at 31
              December 2001 was:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                      |                                                 |                                                                  |                                                               |                                                                                                             |                                                                                                                
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------- | ----------------------------------------------- | ---------------------------------------------------------------- | ------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                      |                                                 | Cash
            and short-term
            investments          | Fixed
            rate investments                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Total
            £m | Non-interest
            bearing
            £m | Floating
            rate
            investments
            £m | Fixed
            rate
            investments
            £m | Weighted
            average
            interest
            rate at
            31 December
            % | Weighted
            average
            time for
            which rate
            is fixed
            Years
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Sterling                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 188                  | 12                                              | 176                                                              |                                                              |                                                                                                            |                                                                                                               
|US
            dollar                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 909                  | 120                                             | 654                                                              | 135                                                           | 3%                                                                                                          | 2                                                                                                              
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 215                  | 23                                              | 192                                                              |                                                              |                                                                                                            |                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1,312                | 155                                             | 1,022                                                            | 135                                                           | 3%                                                                                                          | 2                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1,037                | 390                                             | 563                                                              | 84                                                            | 6%                                                                                                          | 2                                                                                                              
|31
            December 1999                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 755                  | 146                                             | 565                                                              | 44                                                            | 6%                                                                                                          | 2                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Sterling and
              US dollar short-term floating rate investments include £301
              million (2000: £73 million, 1999: £202 million) of money
              market deposits which mature within three months of the balance
              sheet date. Interest on floating rate investments is earned at rates
              based on local money market rates.
            Fixed rate investments
              are those investments which have an interest rate fixed for a period
              of greater than one year.
            The currency
              and interest rate profile of the Group's financial liabilities,
              after allowing for interest rate and cross currency swaps, at 31
              December 2001 was:

|                                                                                                                                                                                                                                                                                                                                                                                                                    |                      |                                                                    |                                                                 |                                                             
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------- | ------------------------------------------------------------------ | --------------------------------------------------------------- | ------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                    | Borrowings          
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                    | Total
            £m | Other
            financial
            liabilities
            £m | Floating
            rate
            borrowings
            £m | Fixed
            rate
            borrowings
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|Sterling                                                                                                                                                                                                                                                                                                                                                                                                            | 931                  | 3                                                                  | 928                                                             |                                                            
|US
            dollar                                                                                                                                                                                                                                                                                                                                                                                               | 34                   |                                                                   | 34                                                              |                                                            
|Euro                                                                                                                                                                                                                                                                                                                                                                                                                | 41                   |                                                                   | 41                                                              |                                                            
|Other                                                                                                                                                                                                                                                                                                                                                                                                               | 23                   | 7                                                                  | 16                                                              |                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                        | 1,029                | 10                                                                 | 1,019                                                           |                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                        | 692                  | 11                                                                 | 681                                                             |                                                            
|31
            December 1999                                                                                                                                                                                                                                                                                                                                                                                        | 580                  | 12                                                                 | 568                                                             |                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|The floating
              rate borrowings comprise bank loans and overdrafts bearing interest
              at rates based on local money market rates, commercial paper and
              medium term notes. The weighted average interest rate on bank borrowings
              at 31 December 2001 was 4% (2000: 6%, 1999: 5%).
            Total financial
              liabilities are repayable as follows:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                           |                                                                    |                           |                                                                    |                           |                                                                   
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------- | ------------------------------------------------------------------ | ------------------------- | ------------------------------------------------------------------ | ------------------------- | ------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                           | 2001                                                               |                           | 2000                                                               |                           | 1999                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Borrowings
            £m | Other
            financial
            liabilities
            £m | Borrowings
            £m | Other
            financial
            liabilities
            £m | Borrowings
            £m | Other
            financial
            liabilities
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Within
            one year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 681                       | 4                                                                  | 393                       | 1                                                                  | 307                       |                                                                  
|Between
            one and two years                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 137                       | 6                                                                  | 88                        | 6                                                                  | 39                        | 2                                                                 
|Between
            two and five years                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 201                       |                                                                   | 200                       | 4                                                                  | 222                       | 10                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1,019                     | 10                                                                 | 681                       | 11                                                                 | 568                       | 12                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|In December 2001,
              Reuters Group PLC entered into syndicated credit facilities for
              £500 million to support borrowings from commercial paper markets.
              This replaced a facility of £500 million, which was terminated
              by Reuters when its availability period fell to less than one year.
              The new facility is at variable interest rates based on LIBOR, the
              London Interbank Offer Rate, is committed and may be drawn and redrawn
              up to one month prior to its maturity in December 2006. At 31 December
              2001, the facility was undrawn.
            In March 1998
              Reuters established a Euro Commercial Paper Programme. This provides
              access to £1.5 billion of uncommitted short-term finance of
              which £998 million was unused at 31 December 2001. In December
              1998 Reuters established a £1.0 billion Euro Medium Term Note
              Programme of which £577 million was unused at 31 December 2001.
            In addition,
              at 31 December 2001 the Group had unused, short-term, uncommitted
              bank borrowing facilities denominated in various currencies, the
              sterling equivalent of which was approximately £780 million,
              at money market rates varying principally between 1% and 8%, depending
              on the currency.

|BALANCE
SHEET
|-------------

|                                                                      |                                                          |                                        |                     |       |                                              |       |                                              |       |     
|--------------------------------------------------------------------- | -------------------------------------------------------- | -------------------------------------- | ------------------- | ----- | -------------------------------------------- | ----- | -------------------------------------------- | ----- | ----
|CONSOLIDATED
              BALANCE SHEET
              AT 31 DECEMBER |                                                          |                                        |                     |       |                                              |       |                                             
|                                                                      | Notes                                                    |                                        | 2001
            £m |       | Restated
              2000
              £m |       | Restated
              1999
              £m
|                                                                     
|Fixed
            assets                                              |                                                          |                                        |                     |       |                                              |       |                                             
|Intangible
            assets                                         | 14                                                       |                                        | 498                 |       | 237                                          |       | 177                                         
|Tangible
            assets                                           | 15                                                       |                                        | 691                 |       | 632                                          |       | 698                                         
|Investments:                                                          | 16                                                       |                                        |                     |       |                                              |       |                                             
|                                                                      | Investments
            in joint ventures:               |                                        |                     |       |                                              |       |                                              |      
|                                                                      |                                                          | Share
            of gross assets      |                     |       | 270                                          |       | 237                                          |       | 29  
|                                                                      |                                                          | Share
            of gross liabilities |                     |       | (118)                                        |       | (79)                                         |       | (16)
|                                                                      |                                                          |                                        |                     | 152   |                                              | 158   |                                              | 13   
|                                                                      | Share
            of net assets of associates            |                                        |                     | 329   |                                              | 353   |                                              | 95   
|                                                                      | Other
            investments                            |                                        |                     | 293   |                                              | 488   |                                              | 222  
|                                                                     
|                                                                      |                                                          |                                        |                     | 1,963 |                                              | 1,868 |                                              | 1,205
|                                                                     
|Current assets                                                        |                                                          |                                        |                     |       |                                              |       |                                             
|Stocks                                                                | 17                                                       |                                        | 3                   |       | 7                                            |       | 4                                           
|Debtors:                                                              |                                                          |                                        |                     |       |                                              |       |                                             
|                                                                      | Amounts
            falling due within one year          | 18                                     |                     | 1,302 |                                              | 1,289 |                                              | 850  
|                                                                      | Amounts
            falling due after more than one year | 18                                     |                     | 113   |                                              | 59    |                                              | 46   
|Short-term
            investments                                    | 19                                                       |                                        | 1,019               |       | 530                                          |       | 490                                         
|Cash
            at bank and in hand                                  |                                                          |                                        | 138                 |       | 117                                          |       | 119                                         
|                                                                     
|                                                                      |                                                          |                                        |                     | 2,575 |                                              | 2,002 |                                              | 1,509
|Creditors:Amounts falling due within one year                         | 20                                                       |                                        | (2,709)             |       | (2,295)                                      |       | (1,679)                                     
|                                                                     
|Net
            current liabilities                                   |                                                          |                                        | (134)               |       | (293)                                        |       | (170)                                       
|                                                                     
|Total
            assets less current liabilities                     |                                                          |                                        | 1,829               |       | 1,575                                        |       | 1,035                                       
|Creditors:Amounts falling due after more than one year                | 21                                                       |                                        | (344)               |       | (310)                                        |       | (284)                                       
|Provisions
            for liabilities and charges:                   |                                                          |                                        |                     |       |                                              |       |                                             
|                                                                      | Pensions
            and similar obligations             | 23                                     |                     | (58)  |                                              | (50)  |                                              | (39) 
|                                                                      | Deferred
            taxation                            | 24                                     |                     | (30)  |                                              | (28)  |                                              | (23) 
|                                                                      | Other
            provisions                             | 25                                     |                     | (124) |                                              | (34)  |                                              | (26) 
|                                                                     
|Net
            assets                                                |                                                          |                                        | 1,273               |       | 1,153                                        |       | 663                                         
|                                                                     
|Capital
            and reserves                                      | 26                                                       |                                        |                     |       |                                              |       |                                             
|Called-up
            share capital                                   |                                                          |                                        | 358                 |       | 357                                          |       | 355                                         
|Share
            premium account                                     |                                                          |                                        | 89                  |       | 71                                           |       | 42                                          
|Other
            reserve                                             |                                                          |                                        | (1,717)             |       | (1,717)                                      |       | (1,717)                                     
|Capital
            redemption reserve                                |                                                          |                                        | 1                   |       | 1                                            |       | 1                                           
|Profit
            and loss account reserve                           |                                                          |                                        | 2,378               |       | 2,441                                        |       | 1,982                                       
|                                                                     
|Shareholders'
            equity                                      |                                                          |                                        | 1,109               |       | 1,153                                        |       | 663                                         
|Equity
            minority interests                                 |                                                          |                                        | 164                 |       |                                             |       |                                            
|                                                                     
|Capital
            employed                                          |                                                          |                                        | 1,273               |       | 1,153                                        |       | 663                                         
|                                                                     

|Also see the
              balance sheet of Reuters Group PLC.
            The consolidated
              profit and loss account and accompanying
              notes, the consolidated cash flow
              statement and accompanying notes,
              the consolidated balance sheet
              and accompanying notes and the
              balance sheet of Reuters Group PLC
              and accompanying notes, which have
              been prepared under the historical cost contention and the accounting
              policies and the summary of differences
              between UK and US generally accepted accounting principles were
              approved by the directors on 15 February 2002.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Tom GlocerChief Executive                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

|                                                                                                                                                                                                   |                     |                                            |                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ------------------------------------------ | ------------------------------------------
|RECONCILIATION
              OF MOVEMENTS IN SHAREHOLDERS' FUNDSFOR THE
              YEAR ENDED 31 DECEMBER                                                                                       |                     |                                           
|                                                                                                                                                                                                   | 2001
            £m | Restated
              2000
            £m | Restated
              1999
            £m
|                                                                                                                                                                                                  
|(Loss)/retained
            profit                                                                                                                                                                 | (94)                | 297                                        | 230                                       
|Unrealised
            gain on deemed partial disposal of subsidiary                                                                                                                               | 11                  |                                           |                                          
|Unrealised
            gain on formation of joint ventures and associates                                                                                                                          |                    | 73                                         |                                          
|Unrealised
            gain on deemed partial disposal of associate                                                                                                                                |                    | 39                                         |                                          
|Unrealised
            gain on disposal of fixed asset investments                                                                                                                                 |                    | 13                                         |                                          
|Translation
            differences taken directly to reserves                                                                                                                                     | 23                  | 40                                         | 10                                        
|Shares
            issued during the year                                                                                                                                                          | 16                  | 28                                         | 25                                        
|Shares
            repurchased during the year                                                                                                                                                     |                    |                                           | (25)                                      
|                                                                                                                                                                                                  
|Net
            movement in shareholders' equity                                                                                                                                                   | (44)                | 490                                        | 240                                       
|Opening
            shareholders' equity                                                                                                                                                           | 1,153               | 663                                        | 423                                       
|(Originally
            £1,102 million (2000: £601 million, 1999: £372 million)
            before adding prior year adjustment of £51 million (2000: £62
            million, 1999: £51 million)) |                     |                                            |                                           
|                                                                                                                                                                                                  
|Closing
            shareholders' equity                                                                                                                                                           | 1,109               | 1,153                                      | 663                                       
|                                                                                                                                                                                                  

|NOTES ON THE CONSOLIDATED BALANCE
SHEET
|---------------------------------------

|13.
            SEGMENTAL ANALYSISThe tables below show total assets and non-interest bearing net
            assets by division and by location on a basis consistent with the
            segmental analysis of profit in note 1.
            For the reasons discussed in that note, the assets in any location
            are not matched with the revenue earned in that location.                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|By
            division                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|Reuters
            Financial                                                                                                                                                                                                                                                                                                                                                                                      
|Reuterspace                                                                                                                                                                                                                                                                                                                                                                                                        
|Instinet                                                                                                                                                                                                                                                                                                                                                                                                           
|Central                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|Total
            assets/non-interest bearing net assets                                                                                                                                                                                                                                                                                                                                                           
|Interest
            bearing net assets/(liabilities)                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|By location                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|Europe,
            Middle East and Africa                                                                                                                                                                                                                                                                                                                                                                         
|The
            Americas                                                                                                                                                                                                                                                                                                                                                                                           
|Asia/Pacific                                                                                                                                                                                                                                                                                                                                                                                                       
|Central                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|Total
            assets/non-interest bearing net assets                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|Fixed
            assets                                                                                                                                                                                                                                                                                                                                                                                           
|Current
            assets                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                   
|* Restated
            Central total
              assets by division consist principally of all cash and short-term
              investments plus interests in own shares, joint ventures and associates.
              Central total assets by location consist principally of those assets
              held by head office operations together with unamortised goodwill
              and other intangibles.

|14.
            INTANGIBLE ASSETS |                         |                            |                                                |                     
|--------------------------------- | ----------------------- | -------------------------- | ---------------------------------------------- | --------------------
|                                  |                         |                            |                                                |                     
|                                  | Goodwill
            £m | Trade names
            £m | Technology
            know-how
            £m | Total
            £m
|                                 
|Cost                              |                         |                            |                                                |                     
|31
            December 2000      | 644                     |                           |                                               | 644                 
|Additions                         | 222                     | 33                         | 92                                             | 347                 
|Disposals                         | (20)                    |                           |                                               | (20)                
|                                 
|31
            December 2001      | 846                     | 33                         | 92                                             | 971                 
|                                 
|Amortisation                      |                         |                            |                                                |                     
|31
            December 2000      | (407)                   |                           |                                               | (407)               
|Disposals                         | 15                      |                           |                                               | 15                  
|Charged
            in the year   | (75)                    | (1)                        | (5)                                            | (81)                
|                                 
|31
            December 2001      | (467)                   | (1)                        | (5)                                            | (473)               
|                                 
|Net
            Book Amount       |                         |                            |                                                |                     
|31
            December 2001      | 379                     | 32                         | 87                                             | 498                 
|                                 
|31
            December 2000      | 237                     |                           |                                               | 237                 
|                                 

|15.
            TANGIBLE ASSETS                   |                                              |                                               |                                                                   |                                                                                        |                     
|------------------------------------------------- | -------------------------------------------- | --------------------------------------------- | ----------------------------------------------------------------- | -------------------------------------------------------------------------------------- | --------------------
|                                                  |                                              |                                               |                                                                   |                                                                                        |                     
|                                                  | Freehold
            property
            £m | Leasehold
            property
            £m | Computer
            systems
            equipment
            £m | Office
            equipment
            and motor
            vehicles
            £m | Total
            £m
|                                                 
|Cost                                              |                                              |                                               |                                                                   |                                                                                        |                     
|31
            December 2000                      | 199                                          | 188                                           | 1,535                                                             | 285                                                                                    | 2,207               
|Translation
            differences               |                                             | 2                                             | 10                                                                | 2                                                                                      | 14                  
|Additions                                         | 7                                            | 62                                            | 164                                                               | 43                                                                                     | 276                 
|Acquisitions                                      | 18                                           | 1                                             | 29                                                                | 9                                                                                      | 57                  
|Disposals                                         | (1)                                          | (12)                                          | (157)                                                             | (19)                                                                                   | (189)               
|                                                 
|31
            December 2001                      | 223                                          | 241                                           | 1,581                                                             | 320                                                                                    | 2,365               
|                                                 
|Depreciation                                      |                                              |                                               |                                                                   |                                                                                        |                     
|31
            December 2000                      | 65                                           | 98                                            | 1,218                                                             | 194                                                                                    | 1,575               
|Translation
            differences               |                                             | 1                                             | 6                                                                 | 1                                                                                      | 8                   
|Charged
            in the year                   | 6                                            | 13                                            | 182                                                               | 45                                                                                     | 246                 
|Acquisitions                                      |                                             |                                              |                                                                  | 5                                                                                      | 5                   
|Disposals                                         |                                             | (1)                                           | (143)                                                             | (16)                                                                                   | (160)               
|                                                 
|31
            December 2001                      | 71                                           | 111                                           | 1,263                                                             | 229                                                                                    | 1,674               
|                                                 
|Net
            book amount                       |                                              |                                               |                                                                   |                                                                                        |                     
|31
            December 2001                      | 152                                          | 130                                           | 318                                                               | 91                                                                                     | 691                 
|                                                 
|31
            December 2000                      | 134                                          | 90                                            | 317                                                               | 91                                                                                     | 632                 
|                                                 
|                                                  |                                              |                                               |                                                                   |                                                                                        |                     
|Net
            book amount of leasehold property |                                              | 2001
            £m                           | 2000
            £m                                               | 1999
            £m                                                                   
|                                                 
|Long-term
            leaseholds                  |                                              |                                               | 38                                                                | 19                                                                                     | 14                  
|Short-term
            leaseholds                 |                                              |                                               | 92                                                                | 71                                                                                     | 61                  
|                                                 
|                                                  |                                              |                                               | 130                                                               | 90                                                                                     | 75                  
|                                                 
|Contracted
            capital commitments        |                                              |                                               | 9                                                                 | 18                                                                                     | 15                  
|                                                 

|16.
            INVESTMENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                                                                |                                                                    |                                                                |                                             
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -------------------------------------------------------------- | ------------------------------------------------------------------ | -------------------------------------------------------------- | --------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                                                                |                                                                    |                                                                |                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 | Interests
            in
            own shares
            £m | Interests
            in joint
            ventures
            £m | Interests
            in
            associates
            £m | Other
            investments
            £m
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Net
            assets/cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                                                                |                                                                    |                                                                |                                             
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 117                             | 150                                                            | 332                                                                | 371                                                            | 970                                         
|Translation
            differences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                |                                                               | 11                                                                 |                                                               | 11                                          
|Additions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 48                              | 46                                                             | 22                                                                 | 35                                                             | 151                                         
|Arising
            in year  share of:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                                                                |                                                                    |                                                                |                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Operating
            losses    |                                                               | (43)                                                               | (30)                                                           |                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Interest
            receivable |                                                               | 4                                                                  | 12                                                             |                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Taxation                        |                                                               | 5                                                                  | (1)                                                            |                                            
|Dividends
            received                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                |                                                               | (2)                                                                |                                                               | (2)                                         
|Impairments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                | (16)                                                           | (26)                                                               | (245)                                                          | (287)                                       
|Amounts
            written off                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (12)                            |                                                               |                                                                   |                                                               | (12)                                        
|Disposals                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                |                                                               | (5)                                                                | (21)                                                           | (26)                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 153                             | 146                                                            | 313                                                                | 140                                                            | 752                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Goodwill                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                                                                |                                                                    |                                                                |                                             
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                | 8                                                              | 21                                                                 |                                                               | 29                                          
|Arising
            in the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                | 1                                                              | 4                                                                  |                                                               | 5                                           
|Charged
            in the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                | (3)                                                            | (9)                                                                |                                                               | (12)                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                | 6                                                              | 16                                                                 |                                                               | 22                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Net
            book amount
            31 December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                                                                |                                                                    |                                                                |                                             
|Net
            assets/cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 153                             | 146                                                            | 313                                                                | 140                                                            | 752                                         
|Goodwill                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                | 6                                                              | 16                                                                 |                                                               | 22                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 153                             | 152                                                            | 329                                                                | 140                                                            | 774                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                 |                                                                |                                                                    |                                                                |                                             
|Net
            assets/cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 117                             | 150                                                            | 332                                                                | 371                                                            | 970                                         
|Goodwill                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                | 8                                                              | 21                                                                 |                                                               | 29                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 117                             | 158                                                            | 353                                                                | 371                                                            | 999                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Listed
            investments at 31 December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Carrying
            value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 153                             |                                                               | 291                                                                | 26                                                             | 470                                         
|Market
            value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 208                             |                                                               | 1,123                                                              | 46                                                             | 1,377                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Had all listed
              investments been disposed of on 31 December 2001, tax of approximately
              £4 million would have been payable on the assumption that
              none of the earnings would be repatriated. The market value excludes
              8.7 million TSI shares held by Reuters, which are subject to options
              held by Reuters employees who worked at TIBCO Finance Technology
              Inc., a former Reuters subsidiary which was merged into other Reuters
              businesses in 2001.
            Impairments
              have been recognised in respect of certain joint ventures and associates.
              In those cases carrying values have been restated to expected net
              realisable values.
            Impairment write-downs
              have also been made in respect of certain other fixed asset investments;
              carrying values have been revised to directors' valuations where
              the diminution in value is expected to be permanent.
            The net book
              amount of interests in own shares represents the cost less amounts
              written off in respect of 31 million Reuters ordinary shares held
              by employee share ownership trusts (ESOTs). These were acquired
              on the open market using funds provided by Reuters. The write-off
              reflects employee interests under incentive plans, which are charged
              against profit over the vesting period of the awards (see report
              on remuneration and related matters). The ESOTs have waived
              dividend and voting rights on these shares.
            Other investments
              consist principally of Greenhouse Fund investments and Stock Exchange

              seats.

|17.
            STOCKS                |                     |                     |                    
|------------------------------------- | ------------------- | ------------------- | -------------------
|                                      | 2001
            £m | 2000
            £m | 1999
            £m
|                                     
|Contract
            work in progress | 5                   | 7                   | 4                  
|Less
            progress payments    | (3)                 | (2)                 | (2)                
|                                     
|                                      | 2                   | 5                   | 2                  
|Equipment
            stocks          | 1                   | 2                   | 2                  
|                                     
|                                      | 3                   | 7                   | 4                  
|                                     

|18.
            DEBTORS                                   |                     |                                          |                                         
|--------------------------------------------------------- | ------------------- | ---------------------------------------- | ----------------------------------------
|                                                          |                     |                                          |                                         
|Amounts
            falling due within one year           | 2001
            £m | Restated
            2000
            £m | Restated
            1999
            £m
|                                                         
|Trade
            debtors                                 | 299                 | 288                                      | 197                                     
|Less
            allowance for doubtful accounts          | (47)                | (31)                                     | (28)                                    
|                                                         
|                                                          | 252                 | 257                                      | 169                                     
|Instinet
            counterparty debtors                 | 621                 | 662                                      | 432                                     
|Other
            debtors                                 | 160                 | 134                                      | 80                                      
|Prepayments
            and accrued income                | 79                  | 83                                       | 58                                      
|Deferred
            taxation (see note 24)               | 86                  | 91                                       | 98                                      
|Amounts
            owed by joint ventures and associates | 104                 | 62                                       | 13                                      
|                                                         
|                                                          | 1,302               | 1,289                                    | 850                                     
|                                                         
|Amounts
            falling due after more than one year  |                     |                                          |                                         
|Other
            debtors                                 | 15                  | 19                                       | 19                                      
|Deferred
            taxation (see note 24)               | 98                  | 40                                       | 27                                      
|                                                         
|                                                          | 113                 | 59                                       | 46                                      
|                                                         

|19.
            SHORT-TERM INVESTMENTS
|--------------------------------------
|                                      
|                                      
|                                      
|                                      
|Listed                                
|Government securities:                
|                                      
|Other
            deposits            
|                                      
|                                      
|                                      
|Unlisted                              
|Certificates
            of deposit   
|Term
            deposits:            
|                                      
|Other
            deposits:           
|                                      
|                                      
|                                      
|                                      
|                                      
|                                      

|20.
            CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR     
|-------------------------------------------------------------------
|                                                                   
|                                                                   
|                                                                   
|Trade
            creditors                                        
|Accruals                                                           
|Instinet
            counterparty creditors                        
|Deferred
            income                                        
|Amounts
            owed to joint ventures and associates          
|Other
            creditors                                        
|Other
            taxation and social security                     
|                                                                   
|                                                                   
|Bank
            overdrafts                                        
|Bank
            loans                                             
|Other
            borrowings                                       
|Current
            UK corporation and overseas taxation           
|Proposed
            dividend                                      
|                                                                   
|                                                                   
|                                                                   
|Current
            UK corporation and overseas taxation comprises:
|                                                                   
|                                                                   
|UK
            corporation tax                                     
|Overseas
            taxes                                         
|                                                                   
|                                                                   
|                                                                   

|21.
            CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR                                                  
|-------------------------------------------------------------------------------------------------------------------------
|                                                                                                                         
|                                                                                                                         
|                                                                                                                         
|Term
            notes and commercial paper                                                                              
|Bank
            borrowings                                                                                              
|Accruals                                                                                                                 
|Amounts
            owed to joint ventures                                                                               
|                                                                                                                         
|                                                                                                                         
|                                                                                                                         
|The
            maturity profile of all bank overdrafts, bank loans and other borrowings
            is given in note 12.

|22. CONCENTRATION
              OF CREDIT RISKReuters
              Group is exposed to concentrations of credit risk. Reuters Group
              invests in UK and US government securities and with high credit
              quality financial institutions. Reuters limits the amount of credit
              exposure to any one financial institution. The Group is also exposed
              to credit risk from its trade debtors, which are concentrated in
              the financial community. Reuters Group estimates that approximately
              63% of its subscribers are financial institutions, 23% are corporations
              in other sectors of the business community, 6% are from the news
              media and 8% are government institutions and individuals worldwide
              (2000: 60%, 25%, 7% and 8% respectively).
            Instinet is
              exposed to the possibility of trades between its counterparties
              failing to settle. Due to the settlement mechanisms employed, the
              maximum exposure is generally limited to the market movement between
              the trade date and the settlement date. There are no material unprovided
              off-balance sheet exposures or positions in respect of trades undertaken
              on or prior to 31 December 2001.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|23. PENSIONS
              AND SIMILAR OBLIGATIONSReuters
              Group has established various pension arrangements covering the
              majority of its employees. In all plans, except those which are
              internally funded, the assets are held separately from those of
              the Group and are independently administered.
            Defined contribution
              plansReuters
              Group operates 31 defined contribution plans covering approximately
              66% of its employees, of which the largest plan, the Reuters Pension
              Fund, covers approximately 15% of employees. Members of this plan
              contribute 6% of basic salaries and Reuters is required to make
              an annual contribution of 9.525% of members' basic salaries regardless
              of the funding status of the plan. Reuters does not have the ability
              to recover assets held by the plan, nor can it be required to make
              additional payments to the plan over and above the annual contributions
              referred to above. Custodial responsibility for the assets of the
              plan rests with two substantial and independent UK investment managers.
            Defined benefit
              plansThe
              Group also operates 33 defined benefit plans covering approximately
              14% of employees. Individually, these plans are of a relatively
              minor nature. They are subject to regular valuations based on the
              accepted actuarial practice and standards within the country in
              which the plan is established. The largest plans are directly invested
              and others are invested in insurance contracts. The remainder are
              internally funded in accordance with local practice with provisions
              in the subsidiary undertakings to recognise the pension obligations.
            Where necessary,
              additional provisions have been established for the Group's plans
              in accordance with UK Statement of Standard Accounting Practice
              24 based on independent actuarial advice.
            Post-retirement
              medical benefitsIn the US, the Group provides unfunded post-retirement medical
              benefits to certain US employees. The principal assumptions used
              in the most recent actuarial valuation undertaken during 2001 were
              that the growth in health care costs would decrease from 11% per
              annum per head in 2001 to 5% by 2007 and remain at 5% thereafter.
            The movement
              on pension provisions and similar obligations was as follows:
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Opening
            balance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Profit
            and loss account (see note 2):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Utilised
            in the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Closing
            balance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|FRS 17 disclosuresIn
              November 2000, FRS 17 'Retirement Benefits' was issued and will
              be fully implemented by Reuters in 2003. The tables below set out
              the transitional disclosures required in accordance with the standard
              for the current year.
            The most recent
              actuarial valuations were carried out at various dates between 31
              December 1999 and 31 December 2001. The results of these valuations
              were updated to 31 December 2001 by independent qualified actuaries.
            The financial
              assumptions used at 31 December 2001 were:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

|Assumptions
            weighted by value of liabilities
            % per annum                                                                                                                               |                                                                                                         |                                                         |                                                              
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------- | ------------------------------------------------------- | -------------------------------------------------------------
|                                                                                                                                                                                                              
|                                                                                                                                                                                                               |                                                                                                         |                                                         | UK
            pension
            plans                     
|                                                                                                                                                                                                              
|Rate
            of increase in salaries                                                                                                                                                                       | 4.25%                                                                                                   | 3.42%                                                   |                                                             
|Rate
            of increase in pensions                                                                                                                                                                       | 2.50%                                                                                                   | 1.72%                                                   |                                                             
|Discount
            rate                                                                                                                                                                                      | 5.75%                                                                                                   | 4.99%                                                   | 7.25%                                                        
|Rate
            of price inflation                                                                                                                                                                            | 2.50%                                                                                                   | 1.79%                                                   |                                                             
|Medical
            trend rate                                                                                                                                                                                 | In
            2001:
            11.00%
            decreasing
            to 5.00%
            in 2007
|                                                                                                                                                                                                              
|Assumptions weighted by value of liabilities
            % per annum                                                                                                                                           |                                                                                                         |                                                         |                                                              
|                                                                                                                                                                                                              
|                                                                                                                                                                                                               |                                                                                                         | UK
            pension
            plans                | Overseas
            pension
            plans               
|                                                                                                                                                                                                              
|Expected
            rate of return on assets:                                                                                                                                                                 |                                                                                                         |                                                         |                                                              
|                                                                                                                                                                                                               | Equities                                                                                                | 8.25%                                                   | 7.53%                                                        
|                                                                                                                                                                                                               | Bonds                                                                                                   | 5.75%                                                   | 4.16%                                                        
|                                                                                                                                                                                                               | Other                                                                                                   | 5.50%                                                   | 4.79%                                                        
|                                                                                                                                                                                                              
|                                                                                                                                                                                                               |                                                                                                         |                                                         |                                                              
|The
            assets in the schemes at 31 December 2001 were:                                                                                                                                               
|                                                                                                                                                                                                               |                                                                                                         |                                                         | Market
            value                                     
|                                                                                                                                                                                                              
|                                                                                                                                                                                                               |                                                                                                         | UK
            pension
            plans
            £m | Overseas
            pension
            plans
            £m
|                                                                                                                                                                                                              
|Equities                                                                                                                                                                                                       | 21                                                                                                      | 59                                                      |                                                             
|Bonds                                                                                                                                                                                                          | 6                                                                                                       | 41                                                      |                                                             
|Other                                                                                                                                                                                                          | 9                                                                                                       | 8                                                       |                                                             
|                                                                                                                                                                                                              
|Total                                                                                                                                                                                                          | 36                                                                                                      | 108                                                     |                                                             
|                                                                                                                                                                                                              
|The
            following amounts at 31 December 2001 were measured in accordance
            with the requirements of FRS 17.                                                                                
|                                                                                                                                                                                                               |                                                                                                         | UK
            pension
            plans
            £m | Overseas
            pension
            plans
            £m
|                                                                                                                                                                                                              
|Total
            market value of schemes' assets                                                                                                                                                              | 36                                                                                                      | 108                                                     |                                                             
|Present
            value of the schemes' liabilities                                                                                                                                                          | (56)                                                                                                    | (100)                                                   | (31)                                                         
|                                                                                                                                                                                                              
|(Deficit)/surplus
            in the schemes                                                                                                                                                                   | (20)                                                                                                    | 8                                                       | (31)                                                         
|                                                                                                                                                                                                              
|                                                                                                                                                                                                               |                                                                                                         |                                                         |                                                              
|(Deficit)/surplus
            that would be recognised in the balance sheet                                                                                                                                    | (20)                                                                                                    | 8                                                       | (31)                                                         
|                                                                                                                                                                                                               |                                                                                                         |                                                         |                                                              
|Made
            up of:                                                                                                                                                                                        |                                                                                                         |                                                         |                                                              
|                                                                                                                                                                                                               | Total
            surpluses                                                                             |                                                        | 16                                                           
|                                                                                                                                                                                                               | Total
            deficits                                                                              | (20)                                                    | (8)                                                          
|                                                                                                                                                                                                               |                                                                                                         |                                                         |                                                              
|Related
            deferred tax asset                                                                                                                                                                         | 6                                                                                                       |                                                        | 12                                                           
|Made
            up of:                                                                                                                                                                                        |                                                                                                         |                                                         |                                                              
|                                                                                                                                                                                                               | Deferred
            tax assets                                                                         | 6                                                       | 3                                                            
|                                                                                                                                                                                                               | Deferred
            tax liabilities                                                                    |                                                        | (3)                                                          
|                                                                                                                                                                                                               |                                                                                                         |                                                         |                                                              
|Net
            pension (liability)/asset                                                                                                                                                                      | (14)                                                                                                    | 8                                                       | (19)                                                         
|Made
            up of:                                                                                                                                                                                        |                                                                                                         |                                                         |                                                              
|                                                                                                                                                                                                               | Net
            pension asset                                                                           |                                                        | 13                                                           
|                                                                                                                                                                                                               | Net
            pension liability                                                                       | (14)                                                    | (5)                                                          
|                                                                                                                                                                                                              
|If
            the above amounts had been recognised in the financial statements,
            the Group's net assets and profit and loss account reserve at 31 December
            2001, would be as follows:
|                                                                                                                                                                                                               |                                                                                                        
|                                                                                                                                                                                                               | £m                                                                                                     
|                                                                                                                                                                                                              
|Net
            assets per consolidated balance sheet                                                                                                                                                          | 1,273                                                                                                  
|Add:
            net pension liability already recognised in net assets                                                                                                                                        | 24                                                                                                     
|                                                                                                                                                                                                              
|Net
            assets before impact of FRS 17                                                                                                                                                                 | 1,297                                                                                                  
|Net
            pension liability arising from FRS 17                                                                                                                                                          | (25)                                                                                                   
|                                                                                                                                                                                                              
|Net
            assets after impact of FRS 17                                                                                                                                                                  | 1,272                                                                                                  
|                                                                                                                                                                                                              
|                                                                                                                                                                                                               |                                                                                                        
|Consolidated
            profit and loss account reserve                                                                                                                                                       | 2,378                                                                                                  
|Add:
            net pension liability already recognised in profit and loss account
            reserve                                                                                                       | 24                                                                                                     
|                                                                                                                                                                                                              
|Profit
            and loss account reserve before impact of FRS 17                                                                                                                                            | 2,402                                                                                                  
|Net
            pension liability arising from FRS 17                                                                                                                                                          | (25)                                                                                                   
|                                                                                                                                                                                                              
|Profit
            and loss account reserve after impact of FRS 17                                                                                                                                             | 2,377                                                                                                  
|                                                                                                                                                                                                              

|24.
            DEFERRED TAXATION LIABILITIES/(ASSETS)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Opening
            balance:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Balance
            sheet reclassification                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Profit
            and loss account                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Closing
            balance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|The
            closing balance is analysed below:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Timing
            differences:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|In 2000 the UK
              Accounting Standards Board issued Financial Reporting Standard 19,
              'Deferred Tax' (FRS19). Reuters Group has implemented the standard
              which requires full provision to be made for deferred tax assets
              and liabilities arising from timing differences between recognition
              in the financial statements and in the tax computation. The cumulative
              effect of implementing FRS19 has been treated as a prior year adjustment.
            Reuters has
              provided for all potential deferred tax liabilities in respect of
              timing differences and has provided for deferred UK income and foreign
              withholding taxes that will be triggered by the expected future
              remittance of dividends by overseas subsidiary undertakings. Reuters
              has not provided for deferred UK income and foreign withholding
              taxes relating to unremitted earnings where remittance of these
              earnings has not been accrued or where no binding agreement to distribute
              exists. Reuters estimates that these unrecognised taxes would total
              approximately £664 million at 31 December 2001 assuming repatriation
              at that date. The increase from 2000 (£593 million) arises
              from an increase in unremitted overseas earnings.

|                                                                                                                                                                                                                                                                             |                       |                                                |                            |                   
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------- | ---------------------------------------------- | -------------------------- | ------------------
|Total
            timing differences at 31 December 2001                                                                                                                                                                                                                     | Assets
            £m | Valuation
            allowance
            £m | Liabilities
            £m | Net
            £m
|                                                                                                                                                                                                                                                                            
|Fixed
            asset related                                                                                                                                                                                                                                              | (58)                  |                                               | 18                         | (40)              
|Unrecognised
            tax losses                                                                                                                                                                                                                                          | (64)                  | 32                                             |                           | (32)              
|Other                                                                                                                                                                                                                                                                        | (110)                 |                                               | 28                         | (82)              
|                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                             | (232)                 | 32                                             | 46                         | (154)             
|                                                                                                                                                                                                                                                                            
|The
            valuation allowance increased by £3 million during 2001. Where
            appropriate deferred tax assets and liabilities are shown net for
            balance sheet presentation purposes. The net deferred tax balance
            has been analysed as:

|                                                                                        |                     |                                          |                                         
|--------------------------------------------------------------------------------------- | ------------------- | ---------------------------------------- | ----------------------------------------
|                                                                                        | 2001
            £m | Restated
            2000
            £m | Restated
            1999
            £m
|                                                                                       
|Deferred
            tax asset (included in debtors  see note
            18)          | (184)               | (131)                                    | (125)                                   
|Deferred
            tax liability (included in provisions for liabilities and charges) | 30                  | 28                                       | 23                                      
|                                                                                       

|25.
            OTHER PROVISIONSThe movement
            in other provisions during 2001 was as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Charged
            against profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Utilised
            in the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Released                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|At the end of
              2000, the costs of a number of incomplete rationalisation programmes
              were provided for. During 2001 these programmes were implemented
              and a number of new ones were introduced in respect of the Business
              Transformation programme and further headcount reductions in response
              to market conditions. The majority of the rationalisation provision
              at 31 December 2001 relates to the restructuring programme and will
              be utilised during 2002.
            The legal/compliance
              provision represents the expected cost of settling disputes arising
              from contractual arrangements with third-party suppliers.
            The ongoing
              rationalisation of business premises occupied by Reuters, particularly
              within the UK, has resulted in the need to provide for unavoidable
              future rental costs. Property provisions also reflects Reuters contractual
              liability at the balance sheet date, to make good dilapidations
              under ongoing rental agreements.

|26.
            CAPITAL AND RESERVES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|31
            December 1998:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Shares
            issued during the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Shares
            repurchased during the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Translation
            differences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Retained
            earnings for the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|31
            December 1999 (restated)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Shares
            issued during the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Unrealised
            gain on formation of joint ventures and associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Unrealised
            gain on deemed partial disposal of associate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Unrealised
            gain on disposal of fixed asset investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Translation
            differences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Retained
            earnings for the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|31
            December 2000 (restated)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Shares
            issued during the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Unrealised
            gain on deemed partial disposal of subsidiary                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Translation
            differences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Loss
            for the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|During 2001 £19
              million was received by Reuters Group PLC on the issue of shares
              in respect of the exercise of options awarded under various share
              option plans. Employees paid £16 million to the Group for the
              issue of these shares and the balance of £3 million comprised
              contributions from subsidiary undertakings.
            Cumulative translation
              gains at 31 December 2001 totalled £45 million (2000: cumulative
              gains £22 million, 1999: cumulative losses £18 million).
            Share capital
              and reserves in the 1997 consolidated balance sheet were restated
              on a pro forma basis. The pro forma share capital as at 31 December
              1997 represented the pro forma nominal value of shares in issue
              of Reuters Group PLC immediately prior to a capital reorganisation.
              Differences between this amount and the previously reported capital
              and reserves, excluding the profit and loss account reserve, represent
              the merger difference and have been reflected in Other reserve.

|27.
            SHARE CAPITAL                                                                                                                              |                     |                     |                    
|---------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ------------------- | -------------------
|                                                                                                                                                           |                     |                     |                    
|                                                                                                                                                           | 2001
            £m | 2000
            £m | 1999
            £m
|                                                                                                                                                          
|Authorised                                                                                                                                                 |                     |                     |                    
|One
            Founders Share of £1                                                                                                                       |                    |                    |                   
|49,998
            redeemable preference shares of £1                                                                                                      |                    |                    |                   
|2,100
            million ordinary shares of 25 pence each                                                                                                 | 525                 | 525                 | 525                
|                                                                                                                                                          
|                                                                                                                                                           | 525                 | 525                 | 525                
|                                                                                                                                                          
|Allotted,
            called-up and fully paid                                                                                                             |                     |                     |                    
|One
            Founders Share of £1                                                                                                                       |                    |                    |                   
|Ordinary
            shares of 25 pence each                                                                                                               | 358                 | 357                 | 355                
|                                                                                                                                                          
|                                                                                                                                                           | 358                 | 357                 | 355                
|                                                                                                                                                          
|Number
            of ordinary shares of 25 pence each (millions)                                                                                          | 1,432.1             | 1,429.1             | 1,422.7            
|                                                                                                                                                           |                     |                     |                    
|Shares
            allotted/(repurchased) during the year in millions                                                                                      | 2001                | 2000                | 1999               
|                                                                                                                                                          
|Shares
            in Reuters Group PLC issued for cash under employee share schemes
            at prices ranging from 346 pence to 992 pence per share   | 3.0                 | 6.4                 | 5.8                
|Shares
            repurchased                                                                                                                             |                    |                    | (4.7)              
|                                                                                                                                                          
|                                                                                                                                                           | 3.0                 | 6.4                 | 1.1                
|                                                                                                                                                          
|The
            rights attaching to the Founders Share are set out in the Reuters
            Trust Principles and the Founders
            Share Company.

|28. EMPLOYEE
              SHARE OPTION PLANS
            Reuters Group
              PLC operates share plans for the benefit of employees as explained
              in the report on remuneration and related matters. Since the flotation
              of Reuters Holdings PLC in 1984, 104 million shares have been issued
              under these plans.
            Activity relating
              to share options to subscribe for new shares for the two years ended
              31 December 2001 was as follows:                                                                                                                                                                                                                                          
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Ordinary
            shares under option in millions (including ADSs):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|31
            December 1999                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Granted                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Exercised                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Expired,
            cancelled or lapsed                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Granted                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Exercised                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Expired,
            cancelled or lapsed                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Number
            of participants at 31 December 2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|The
            following table summarises information relating to the number of shares
            under option and those which were exercisable at 31 December 2001.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Range
            of exercise prices                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Ordinary
            shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|£3.01
             £5.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|£5.01
             £7.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|£7.01
             £9.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|£9.01
             £11.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|ADSs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|$40.01
             $70.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|$70.01
             $100.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|$100.01
             $130.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|In
            August 1990 and January 1994, Reuters established employee share ownership
            trusts with the power to acquire shares in the open market. The trustee
            of both trusts, an offshore subsidiary of Reuters, is being managed
            under contract by an independent management company. Shares purchased
            by the trusts will be used either to meet obligations under the company's
            restricted share plans described in the report
            on remuneration and related matters or to satisfy the exercise
            of options granted, or to be granted, under other employee share option
            plans. Alternatively, new shares may be issued to satisfy these option
            obligations.

|29. RELATED
              PARTY TRANSACTIONS
            During the year,
              a number of transactions were carried out with related parties in
              the normal course of business and on an arm's length basis. Details
              of these transactions are shown below:                                                                                                                                                                                                                                                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Amounts
            receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Radianz                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Factiva                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Amounts
            payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Radianz                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Factiva                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|The above amounts
              relate to the rendering or receiving of services between both parties,
              including agency arrangements and licence agreements. The Other
              amounts principally comprise transactions with TIBCO Software.
            In addition
              to the above amounts Reuters has a promissory note payable to Factiva
              with a balance of £7 million outstanding at the year end (2000:
              £10 million) and £9 million (2000: £nil) of cash
              held on deposit for the Capco joint venture which is repayable on
              demand.

|30. OPERATING
              LEASES AND OTHER FINANCIAL COMMITMENTSMinimum payments for non-cancellable operating leases for terms
              in excess of one year from 31 December are as follows:                                                                                        
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|Year
            ended 31 December                                                                                                                                                                                                                                                            
|2000                                                                                                                                                                                                                                                                                          
|2001                                                                                                                                                                                                                                                                                          
|2002                                                                                                                                                                                                                                                                                          
|2003                                                                                                                                                                                                                                                                                          
|2004                                                                                                                                                                                                                                                                                          
|2005                                                                                                                                                                                                                                                                                          
|2006                                                                                                                                                                                                                                                                                          
|Thereafter                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                              
|Total
            minimum lease payments                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                              
|At
            31 December the Group had commitments to make payments during the
            following year under non-cancellable operating leases as follows:                                                                                                                                
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|Operating
            leases which expire:                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                              
|Other
            financial commitmentsAt 31 December 2001, Reuters had a minimum commitment of £252
            million under a service level agreement with Savvis for the provision
            of a network delivery mechanism for the Bridge assets acquired during
            the year.

|31. ACQUISITIONS
              AND DISPOSALSIn September 2001, Reuters acquired certain of the Bridge businesses
              from Bridge Information Systems, Inc. During 2001, Reuters Group
              made a number of smaller acquisitions, including 100% of Diagram
              fip SA and 92% of ProTrader Group, LP. The acquisition of ProTrader
              gave rise to a deemed partial disposal of Reuters interest in Instinet.
              There were further deemed partial disposals arising from the initial
              public offering (IPO) of Instinet and the exercise of TSI stock
              options.
            Reuters Group
              also made a number of investments in joint ventures and associates
              during the year, including 3 Times Square LLC, Capco and Icor Brokerage.
              In October 2001, Reuters disposed of its majority stake in VentureOne
              Corporation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Acquisitions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Fixed
            assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Fixed
            asset investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Current
            assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Current
            liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Cash
            consideration:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Equity
            consideration                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Total
            consideration                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Goodwill                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|The fair value
              adjustments in respect of intangible fixed assets are due to the
              recognition of £125 million relating to trade names and technology
              know-how, which have been independently valued. The fair value adjustments
              in respect of tangible fixed assets and current assets relate to
              valuation adjustments. There were no fair value adjustments in respect
              of joint ventures and associates.
            Included within
              the Group profit and loss account are revenues of £73 million
              and operating losses including amortisation of £8 million in
              respect of the Bridge post-acquisition results. During 2001, Reuters
              booked costs of £17 million relating to the integration of
              Bridge. For the period 1 January 2001 to 28 September 2001, the
              acquired Bridge business recognised revenues of £214 million
              and an operating loss of £42 million.
            The Bridge business
              was acquired from Bridge Information Systems, Inc. (BIS) on 28 September
              2001. However, only certain of the assets and liabilities of BIS
              were acquired. In the circumstances, it is not practical to provide
              details of results for the Bridge business for financial periods
              before 2001. Since acquisition, the operations of the Bridge business
              have been largely integrated into Reuters core business. As a result
              it is impractical to isolate the post-acquisition cash flows of
              the Bridge business.

|                                                                                                                                                                                                                                                                                                                                                                   |                         |                           |                     
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------------------- | ------------------------- | --------------------
|Deemed
            disposals                                                                                                                                                                                                                                                                                                                                       |                         |                           |                     
|                                                                                                                                                                                                                                                                                                                                                                   | Instinet
            £m | TSI
            £m        | Total
            £m
|                                                                                                                                                                                                                                                                                                                                                                  
|Decrease
            in net assets                                                                                                                                                                                                                                                                                                                                 | (102)                   | (9)                       | (111)               
|Consideration                                                                                                                                                                                                                                                                                                                                                      | 313                     | 2                         | 315                 
|                                                                                                                                                                                                                                                                                                                                                                  
|Gain/(loss)                                                                                                                                                                                                                                                                                                                                                        | 211                     | (7)                       | 204                 
|                                                                                                                                                                                                                                                                                                                                                                  
|The
            gains arising on the deemed partial disposal of Instinet comprise
            £200 million generated by the IPO in May 2001 and an unrealised
            gain of £11 million arising from the acquisition of ProTrader.
            The TSI loss arose from the deemed partial disposal resulting from
            the exercise of stock options.
|                                                                                                                                                                                                                                                                                                                                                                   |                         |                           |                     
|Other
            disposalsVentureOne Corporation was disposed of on 12 October 2001 for
            net consideration of £18 million.                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                   |                         |                           |                     
|Reconciliation
            of gains                                                                                                                                                                                                                                                                                                                                |                         |                           |                     
|                                                                                                                                                                                                                                                                                                                                                                   | Realised
            £m | Unrealised
            £m | Total
            £m
|                                                                                                                                                                                                                                                                                                                                                                  
|On
            deemed disposals                                                                                                                                                                                                                                                                                                                                    | 193                     | 11                        | 204                 
|On
            disposal of VentureOne                                                                                                                                                                                                                                                                                                                              | 16                      |                          | 16                  
|On
            disposal of Greenhouse investments                                                                                                                                                                                                                                                                                                                  | 35                      |                          | 35                  
|On
            disposal of tangible fixed assets                                                                                                                                                                                                                                                                                                                   | (10)                    |                          | (10)                
|                                                                                                                                                                                                                                                                                                                                                                  
|Recorded
            in the profit and loss account                                                                                                                                                                                                                                                                                                                | 234                     |                          | 234                 
|                                                                                                                                                                                                                                                                                                                                                                  
|Recorded
            in the STRGL                                                                                                                                                                                                                                                                                                                                  |                        | 11                        | 11                  
|                                                                                                                                                                                                                                                                                                                                                                  

|32. SUBSIDIARY
              AND ASSOCIATED UNDERTAKINGS AND JOINT VENTURES
            The principal
              subsidiary and associated undertakings and joint ventures at 31
              December 2001, all of which are included in the consolidated financial
              statements, are shown below. The shares in Reuters Investments Limited
              are held by Reuters Group PLC. The shares in the other companies
              are held by Reuters Investments Limited or its wholly-owned subsidiaries.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Subsidiary
            undertakings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Instinet
            Group Incorporated                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Reuters
            America Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Reuters
            Australia Pty Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Reuters
            Eastern Europe Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Reuters
            España SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Reuters
            Hong Kong Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Reuters
            Investments Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            Italia SpA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Reuters
            Japan Kabushiki Kaisha                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Reuters
            Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Reuters
            Middle East Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Reuters
            Nederland BV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Reuters
            SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Reuters
            Services SARL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Reuters
            Singapore Pte Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Reuters
            Transaction Services Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Reuters
            Information Systems (Canada) Limited                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|The
            financial years for the above subsidiary undertakings end on 31 December.
             Associated undertakings and joint venturesThe principal associated undertakings and joint ventures at 31
            December 2001 were:                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|TIBCO
            Software Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Factiva
            LLC (joint venture)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Radianz
            Ltd. (joint venture)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|On
            a diluted basis, after deducting shares under option, Reuters interest
            in the equity of TIBCO Software reduces to 42%.                                                                                                                                                                                                                                                                                                                                                                                   

|BALANCE SHEET OF REUTERS GROUP
PLC
|----------------------------------

|BALANCE
            SHEET OF REUTERS GROUP PLCAT 31 DECEMBER
|------------------------------------------------------------
|                                                            
|                                                            
|Fixed
            asset investment                          
|Amounts
            owed by group undertakings              
|Other
            borrowings                                
|Proposed
            dividends                              
|                                                            
|Net
            assets                                      
|                                                            
|Capital and reserves                                        
|Called-up
            share capital                         
|Capital
            redemption reserve                      
|Share
            premium account                           
|Merger
            reserve                                  
|Profit
            and loss account reserve                 
|                                                            
|Capital
            employed                                
|                                                            
|Profit
            attributable to ordinary shareholders    
|                                                            

|This
            balance sheet was approved by the directors on 15 February 2002.                                                                                                                  
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|NEW Tom Glocer sig                                                                                                                                                                                 
|Tom
            GlocerChief Executive                                                                                                                                                              
|                                                                                                                                                                                                   
|Advantage
            has been taken of the provisions of Section 230(3) of the Companies
            Act 1985 not to present a separate profit and loss account for Reuters
            Group PLC.

|NOTES ON THE BALANCE SHEET OF REUTERS
GROUP PLC
|-----------------------------------------------

|33. FIXED ASSET
            INVESTMENTThe investment represents the shareholding of Reuters Group PLC
            in Reuters Investments Limited.
|-------------------------------------------------------------------------------------------------------------------------------------------------

|34.
            CAPITAL AND RESERVES                                                                                                                                                                                                                                                                                                                                                                                                           
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                               
|31
            December 2000                                                                                                                                                                                                                                                                                                                                                                                                                   
|Shares
            issued during the year                                                                                                                                                                                                                                                                                                                                                                                                      
|Loss
            for the year                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                               
|31
            December 2001                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Following
            the approval of a High Court Scheme of Arrangement, the majority of
            the issued share capital of Reuters Holdings PLC was acquired by Reuters
            Group PLC in February 1998. The merger reserve and profit and loss
            account reserve arose as a result of this transaction.
            
            The loss for
              the year mainly represents dividends paid to shareholders.

|ACCOUNTING
POLICIES
|-------------------

|Accounting
            basisThe financial
            statements are prepared under the historical cost convention and in
            accordance with applicable accounting standards. In 2000 the UK Accounting
            Standards Board issued Financial Reporting Standard 19 'Deferred Tax'
            (FRS 19). Reuters has implemented the standard which requires full
            provision to be made for deferred tax assets and liabilities arising
            from timing differences between recognition in the financial statements
            and in the tax computation. The cumulative impact of FRS 19 relating
            to previous years has been recognised in the financial statements
            as a prior year adjustment and comparative figures for 2000 and 1999
            have been restated. The effect in the year to 31 December 2000 was
            to reduce profit after tax by £11 million, increase profit after
            tax by £11 million in the year to 31 December 1999 and increase
            the value of group reserves by £51 million to 31 December 1998.
            The effect in the year to 31 December 2001 was to decrease tax on
            profit on ordinary activities by £18 million and to increase
            profit for the financial year by £18 million.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Basis
            of consolidationThe consolidated financial statements include:
|--------------------------------------------------------------------------------
|a.                                                                              
|b.                                                                              

|Foreign
            currency translationWhere it is considered that the functional currency of an operation
            is sterling the financial statements are expressed in sterling on
            the following basis:                                                                                                                                                                                                                        
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|a.                                                                                                                                                                                                                                                                                                                                                                                                                                                
|b.                                                                                                                                                                                                                                                                                                                                                                                                                                                
|c.                                                                                                                                                                                                                                                                                                                                                                                                                                                
|d.                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|For
            other operations, associated undertakings and joint ventures, assets
            and liabilities are translated into sterling at the rates ruling at
            the balance sheet date. Revenue and expenses in foreign currencies
            are recorded in sterling at the rates ruling for the month of the
            transactions and gains or losses arising on translation are dealt
            with through reserves.

|TreasuryReuters
              receives revenue and incurs expenses in more than 60 currencies
              and uses financial instruments to hedge a portion of its net cash
              flow and operating profit. Profits and losses from hedging activities
              are matched with the underlying cash flows and profits being hedged.
              Those relating to trading cash flows are reported as part of profit
              and those relating to capital expenditure programmes are adjusted
              against the cost of the assets to which they relate.
            Reuters uses
              financial instruments to hedge a portion of its interest exposure.
              Profits and losses on financial instruments are reported as part
              of profit for the period to which they relate.
            Financial instruments
              hedging the risk on foreign currency assets are revalued at the
              balance sheet date and the resulting gain or loss offset against
              that arising from the translation of the underlying asset into sterling.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|RevenueRevenue
              represents the turnover, net of discounts, derived from services
              provided to subscribers and sales of equipment applicable to the
              year. Revenue from contracts for the outright sale of software systems
              are recognised at the time of client acceptance. Short-term contracts
              are accounted for on a completed contract basis. Long-term contracts
              are accounted for in accordance with the contractual terms either
              on a percentage of completion basis or on a time and materials as
              incurred basis.
            Transaction
              products usage revenue is accounted for on a trade date basis.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Securities
              transactionsSecurities
              transactions between Instinet counterparties which pass through
              Instinet and in its role as agency brokers, are recorded on a settlement
              date basis and, therefore, are only reflected in the balance sheet
              if there is a failure to settle. Revenues and related expenses arising
              from such securities transactions are accrued from the date of the
              transaction.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|DevelopmentDevelopment
              expenditure is charged against profit in the year in which it is
              incurred.
|-----------------------------------------------------------------------------------------------------------------------------

|Pensions and
              similar obligationsThe
              expected cost of pensions and other post-retirement benefits is
              charged against profit so as to spread the cost over the service
              lives of the employees affected.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Restricted
              share and Instinet long-term incentive plansCosts
              of the restricted share and Instinet long-term incentive plans are
              charged to profit over the vesting period of the awards.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Tangible
            fixed assetsDepreciation
            is calculated on a straight line basis so as to write down the assets
            to their residual values over their expected useful lives:
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Freehold land                                                                                                                                                                                         
|                                                                                                                                                                                                      
|Freehold buildings                                                                                                                                                                                    
|                                                                                                                                                                                                      
|Leasehold property                                                                                                                                                                                    
|                                                                                                                                                                                                      
|Computer systems
            equipment, office equipment and motor vehicles                                                                                                                           
|                                                                                                                                                                                                      

|Stocks and
              contract work in progressStocks
              and contract work in progress are valued at the lower of cost and
              net realisable value less progress payments received and receivable
              from clients. Progress payments in excess of the value of work carried
              out are included within creditors.
            Cost is calculated
              on a first in first out basis by reference to the invoiced value
              of supplies and attributable costs of bringing stocks to their present
              location and condition.
            Net realisable
              value is the estimated market value less selling costs.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Short-term
              investmentsGovernment
              securities are stated in the balance sheet at the lower of cost
              plus accrued capital appreciation and market value. Income from
              these securities and any adjustment for changes in their market
              value during the year is reported as part of profit.
            Movements in
              short-term investments are reported under the heading of management
              of liquid resources in the cash flow statement.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Debt issuanceMedium
              term notes and commercial paper are stated at the amount of the
              net proceeds plus accrued interest or any discount or premium. Discounts
              or premia to the nominal value are amortised over the term of the
              issue. Costs associated with debt issuance are charged against profit
              over the life of the instrument.
            Foreign currency
              swap agreements and forward contracts are used to convert non-sterling
              debt into sterling. Interest rate swaps, swaptions and forward rate
              agreements are used to manage interest rate exposures. Amounts payable
              or receivable in respect of these derivatives are recognised as
              adjustments to interest expense over the period of the contract.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|LeasingOperating
              lease rentals are charged against profit on a straight line basis
              over the period of the lease.
|--------------------------------------------------------------------------------------------------------------------------------------------

|Deferred taxationTax
              deferred or accelerated by the effect of timing differences is accounted
              for to the extent that a transaction or an event that has occurred
              at the balance sheet date gives rise to an obligation to pay more
              tax in the future or a right to pay less tax in the future.
            However deferred
              tax assets are only recognised to the extent that, based on all
              available evidence, it is more likely than not that suitable taxable
              profits will arise from which the reversal of the asset can be deducted.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Goodwill and
              other intangible assetsPurchased
              goodwill and other intangibles are capitalised and amortised through
              the profit and loss account on a straight line basis over their
              estimated useful economic lives which are between five and 20 years
              depending on the nature of the business acquired. Impairment reviews
              are carried out at the end of the first financial year after acquisition
              and where there is any indication of impairment.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Interest in
              shares of Reuters Group PLCShares
              held by the employee share ownership trusts are recorded in the
              balance sheet within fixed asset investments at cost including expenses
              less amounts written off.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Fixed asset
              investmentsFixed
              asset investments are held at cost net of permanent diminution in
              value as assessed by the directors.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|SUMMARY OF DIFFERENCES BETWEEN UK AND US GENERALLY ACCEPTED ACCOUNTING
PRINCIPLES (GAAP)
|----------------------------------------------------------------------------------------

|ACCOUNTING
            PRINCIPLESThese
            consolidated financial statements have been prepared in accordance
            with UK GAAP, which differ in certain significant respects from US
            GAAP. A description of the relevant accounting principles which differ
            materially is given below:
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|a. Software
            revenue recognitionUnder
            UK GAAP, revenue and related direct costs from contracts for the outright
            sale of software systems are recognised at the time of client acceptance
            when no further costs are expected to be incurred. Under US GAAP,
            specific rules were introduced effective January 1998 establishing
            the criteria that must be met for revenue recognition. Under these
            rules, certain contracts with multiple elements require an amount
            of revenue to be deferred until all criteria for revenue recognition
            are met.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|b. Software
            and website development costsUnder
            UK GAAP, costs of developing computer software products and websites
            are usually expensed in the year in which they are incurred. Under
            US GAAP, the costs of developing computer software products subsequent
            to establishing technical feasibility are capitalised. Additionally,
            certain costs relating to website development incurred subsequent
            to the planning stage are also capitalised. The amortisation of the
            capitalised costs is based on the estimated future revenues or remaining
            estimated useful economic lives of the products involved.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|c. Joint ventures
              and associated undertakingsUnder
              UK GAAP, the difference between the book value and fair value of
              the assets contributed to joint ventures and associates are recognised
              in the statement of total recognised gains and losses. Under US
              GAAP, the difference is released to the income statement over the
              anticipated life of the assets contributed to the venture.
            Under UK GAAP,
              Reuters has recorded an impairment of an associate. Under US GAAP,
              the impairment charge has been adjusted to reflect the lower carrying
              value of the associate.
            Under UK GAAP,
              stock compensation expenses are not required to be recorded in respect
              of certain joint ventures and associates stock option plans. Under
              US GAAP, the Group's share of the results of joint ventures and
              associates have been adjusted to reflect stock compensation charges
              where appropriate.
            Under UK GAAP,
              the transfer to a joint venture of employees that held unvested
              stock options does not give rise to a charge against profit. Under
              US GAAP, the stock awards are considered to be held by non-employees
              and a stock option expense relating to the fair value of the unvested
              awards is included in 'share of operating loss in joint ventures'
              over the remaining vesting period.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|d. Gains on
            deemed disposal of subsidiary and associated undertakingsUnder
            UK GAAP, gains on the deemed partial disposal of subsidiary and associated
            undertakings involving non-qualifying consideration are recorded in
            the statement of total recognised gains and losses. Under US GAAP,
            these gains are recorded in the profit and loss account.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|e. Gains on
              fixed asset investmentsUnder
              UK GAAP, gains on the sale of fixed asset investments for non-cash
              consideration are recorded in the statement of total recognised
              gains and losses. Under US GAAP, these gains are recorded in the
              profit and loss account.
            Under UK GAAP,
              fixed asset investments are held in the balance sheet at cost net
              of permanent diminution in value as assessed by the directors. Under
              US GAAP, fixed asset investments which are available for sale are
              stated at fair value with unrealised gains or losses included in
              the statement of comprehensive income. Under US GAAP, broker-dealer
              fixed asset investments are stated at fair value with unrealised
              gains or losses included in the income statement.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|f. Goodwill
              adjustmentsUnder
              UK GAAP, all goodwill is amortised. Under US GAAP, certain provisions
              of Financial Accounting Standard (FAS) 142, 'Goodwill and Other
              Intangible Assets' became effective on 1 July 2001. Accordingly,
              under US GAAP, goodwill arising on acquisitions completed after
              30 June 2001 is not amortised.
            UK GAAP require
              purchased goodwill to include an estimate of the fair value of any
              contingent consideration. Under US GAAP, contingent consideration
              is usually only recognised as a component of goodwill when the contingency
              is resolved.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|g. Employee
              costsReuters
              grants options under save-as-you-earn plans at a 20% discount. Under
              UK GAAP, the share issues are recorded at their discounted price
              when the options are exercised. Under US GAAP, the discount is regarded
              as employee compensation and is accrued over the vesting period
              of the grants.
            Under UK GAAP,
              no compensation charge is recorded when the vesting terms of an
              option award are accelerated, or when an option plan is amended
              with substantially similar terms as the old plan. Under US GAAP,
              additional compensation cost is recognised when the vesting of an
              option has been accelerated and those options would otherwise have
              been forfeited unvested. Additional compensation cost is also recognised
              where a new measurement date is established following the amendment
              of a stock option plan where the exercise price is less than the
              market value of the underlying shares on the new measurement date.
            Under UK GAAP,
              the liability for national insurance on stock options is accrued
              for based on the intrinsic value of the options on the date of grant
              and adjusted for subsequent changes in the market value of the underlying
              shares. Under US GAAP, this expense is recorded upon exercise of
              the stock options.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|h. Derivative
              instrumentsUnder
              US GAAP, the Group adopted FAS 133, 'Accounting for Derivative Instruments
              and Hedging Activities' as amended by FAS 138, on 1 January 2001.
              FAS 133 introduced new rules in respect of hedge accounting and
              the recognition of movements in fair value through the income statement.
              As a result of the adoption, all derivatives and embedded derivative
              instruments, whether designated in hedging relationships or not,
              are carried on the balance sheet at fair value.
            The company
              has not designated any of its derivative instruments as qualifying
              hedge instruments under FAS 133. Accordingly, changes in the fair
              value of derivative instruments have been included within current
              earnings under US GAAP. The company plans no significant change
              in its risk management strategies due to the adoption of FAS 133.
            Under UK GAAP,
              the company has continued to apply hedge accounting and is not required
              to record all of its derivative instruments on the balance sheet
              at fair value.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|i. Taxes on
              incomePrior
              to the adoption of FRS 19 under UK GAAP, deferred taxes are accounted
              for to the extent that it is considered probable that a liability
              or asset will crystallise in the foreseeable future. Under US GAAP,
              deferred taxes are accounted for in accordance with FAS 109, 'Accounting
              for Income Taxes' on all timing differences and a valuation allowance
              is established in respect of those deferred tax assets where it
              is more likely than not that some portion will remain unrealised.
              Deferred tax also arises in relation to the tax effect of the other
              US GAAP adjustments.
            Following the
              adoption of FRS 19, the recognition of deferred tax on timing differences
              under UK and US GAAP is more closely aligned.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|j. DividendsUnder
            UK GAAP, dividends are provided for in the year in respect of which
            they are declared or proposed. Under US GAAP, dividends and any related
            tax credit are given effect only in the period in which dividends
            are formally declared.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|k. Shares
              held by employee share ownership trusts (ESOTs)Under
              UK GAAP, shares held by the ESOTs are recorded as fixed asset investments
              at cost less amounts written off. Under US GAAP, those shares not
              fully vested are regarded as treasury stock and recorded at cost
              as a deduction from shareholders' equity.
            The effects
              of these differing accounting principles are shown in notes 35,
              36,
              37
              and 38.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Cash
            flow statementThe cash
            flow statement has been prepared in conformity with UK Financial
            Reporting Standard No 1 (Revised) Cash Flow Statements. The principal
            differences between this statement and cash flow statements presented
            in accordance with FAS 95 are as follows:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|1.                                                                                                                                                                                                                                                                                                                                            
|2.                                                                                                                                                                                                                                                                                                                                            
|3.                                                                                                                                                                                                                                                                                                                                            
|4.                                                                                                                                                                                                                                                                                                                                            
|5.                                                                                                                                                                                                                                                                                                                                            

|Set
            out below is a summary consolidated cash flow statement under US GAAP:
|--------------------------------------------------------------------------------------
|                                                                                      
|                                                                                      
|Net
            cash inflow from operating activities                                 
|Net
            cash outflow from investing activities                                
|Net
            cash inflow/(outflow) from financing activities                       
|                                                                                      
|Net
            increase/(decrease) in cash and cash equivalents under US GAAP        
|Net
            increase/(decrease) in cash under UK GAAP (see notes 4-5 above)       
|                                                                                      

|NOTES ON SUMMARY OF DIFFERENCES
BETWEEN UK AND US GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP)
|-------------------------------------------------------------------------------------------------

|35.
            ADJUSTMENTS TO NET INCOME                                                                                            
|-------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                     
|                                                                                                                                     
|Profit
            attributable to ordinary shareholders in accordance with UK GAAP                                                  
|US
            GAAP adjustments:                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|Income
            before cumulative effect of change in accounting principle                                                        
|Cumulative
            effect of change in accounting principle for FAS 133                                                          
|Tax
            effect of change in accounting principle                                                                             
|                                                                                                                                     
|Net
            income attributable to ordinary shareholders in accordance with US
            GAAP                                  
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|                                                                                                                                     
|Earnings
            and dividends
            Before accounting change
            Basic earnings per ADS in accordance with US GAAP
|Diluted
            earnings per ADS in accordance with US GAAP                                                                      
|After
            accounting changeBasic earnings
            per ADS in accordance with US GAAP                                     
|Diluted
            earnings per ADS in accordance with US GAAP                                                                      
|                                                                                                                                     
|Dividend
            paid per ADS (including UK tax credit)                                                                          
|                                                                                                                                     
|Weighted
            average number of shares used in basic EPS calculation (millions)                                               
|Issuable
            on conversion of options                                                                                        
|                                                                                                                                     
|Used
            in diluted EPS calculation                                                                                          
|                                                                                                                                     

|36.
            ADJUSTMENTS TO SHAREHOLDERS' EQUITY                                                                                                                                                                                                                                                                                 
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|Capital
            employed before minority interest in accordance with UK GAAP                                                                                                                                                                                                                                                    
|US
            GAAP adjustments:                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                    
|Shareholders'
            equity in accordance with US GAAP                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                    
|1Changes
            in accounting for deferred tax following adoption of UK Financial
            Reporting Standard 19 has led to a prior period adjustment under UK
            GAAP. There has been no corresponding change in US accounting standards.
            The prior period reconciliation has therefore been restated.

|37.
            STATEMENT OF COMPREHENSIVE INCOME          
|-----------------------------------------------------------
|                                                           
|                                                           
|                                                           
|Net
            income in accordance with US GAAP          
|Other
            comprehensive income, net of tax:        
|                                                           
|                                                           
|                                                           
|                                                           
|                                                           
|                                                           
|                                                           
|                                                           
|Comprehensive
            income in accordance with US GAAP
|                                                           

|38.
            SUMMARISED BALANCE SHEET (US GAAP BASIS)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|AssetsFixed tangible assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Current
            assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Other
            assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Goodwill
            and other intangibles                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Total
            assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Liabilities
            and shareholders' equityCurrent liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Long-term
            liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Deferred
            taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Minority
            interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Shareholders'
            equity before deductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Shares
            held by employee share ownership trusts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Total
            shareholders' equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Total
            liabilities and shareholders' equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Goodwill
            and other intangibles are net of accumulated amortisation of £551
            million (2000: £477 million, 1999: £415 million). Software
            development costs are net of accumulated amortisation of £18
            million (2000: £16 million, 1999: £14 million).
            
            Additional
              disclosures required by US GAAPEmployee
              costsThe
              Group has complied with FAS 123, 'Accounting for Stock-Based Compensation'.
              Reuters has continued to apply the methodologies set out in APB
              Opinion 25, 'Accounting for Stock Issued to Employees' and other
              US GAAP literature in calculating its US GAAP adjustments for share
              option plans and awards of share rights. Had Reuters elected to
              recognise compensation expense based upon the fair value at grant
              date for awards made in 1996 to 2001 under these plans consistent
              with the alternative methodology set out in FAS 123, net income
              in 2001 in accordance with US GAAP would have been £60 million
              lower (2000: £2 million lower, 1999: £8 million lower)
              and earnings per ADS and diluted earnings per ADS, would both have
              been 23.7 pence lower (2000: 1.0 pence lower, 1999: 3.6 pence lower)
              than the figures shown above.
            Fair valuesFair
              value of options granted are estimated using a European binomial
              option pricing model. The range of assumptions applied to options
              granted are:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                         |             |          
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------- | ----------- | ---------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2001                    | 2000        | 1999     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Dividend
            yield                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 0%  1.9%               | 1.2%  1.7% | 1.7%     
|Volatility                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 54% 
            70%   | 44%  52%   | 34%  44%
|Risk
            free investment rates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 4.3% 
            6.5% | 6.7%  6.8% | 5.2%     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Derivative
              instrumentsThe
              Group recorded a transition benefit adjustment of £5 million
              net of taxes of £2 million within current income and a net-of-tax
              transition expense of £2 million within other comprehensive
              income to reflect the cumulative change in accounting principle
              upon adoption of FAS 133.
            The current
              year gain on derivative instruments of £4 million includes
              a loss of £2 million relating to amounts reclassified out of
              other comprehensive income. At 31 December 2001, the balance sheet
              includes derivative assets of £18 million and derivative liabilities
              of £4 million.
            GoodwillUnder
              UK GAAP in 2001 goodwill amortisation expense of £5 million
              arose on acquisitions completed after 30 June 2001. This has been
              reversed under US GAAP in accordance with FAS 142.
            Bridge acquisitionIn
              September, Reuters completed the acquisition of the core North American
              equities information business and certain other businesses of Bridge
              Information Systems, Inc., and its subsidiaries, which had been
              in bankruptcy proceedings since the beginning of 2001. The total
              purchase consideration, which included interim funding to Bridge
              and its network provider, SAVVIS Communications Corporation ('Savvis'),
              was £256 million. The acquired Bridge businesses include content,
              analytics and trading applications primarily for financial institutions
              and their customers, as well as Bridge Trading, a licensed broker-dealer.
              The transaction is expected to greatly enhance Reuters presence
              in the US buy-side market and allow Reuters to expand its product
              offering as well as connect its international customer base with
              Bridge's largely US clientele.
            Use of estimatesThe
              preparation of financial statements in conformity with US GAAP requires
              management to make estimates and assumptions that affect the reported
              amounts of assets and liabilities, disclosure of contingent assets
              and liabilities at the date of the financial statements and the
              reported amounts of revenue and expenses during the reporting period.
              Actual results could differ from those estimates.
            Recent accounting
              pronouncementsUS
              GAAPIn
              July 2001, the Financial Accounting Standards Board (FASB) issued
              FAS 141 'Business Combinations' which supersedes APB Opinion 16
              'Business Combinations'. FAS 141 requires the purchase method of
              accounting to be used for business combinations initiated after
              30 June 2001 and eliminates the pooling-of-interests method. In
              addition, FAS 141 establishes specific criteria for the recognition
              of intangible assets separately from goodwill and requires unallocated
              negative goodwill to be written off immediately as an extraordinary
              gain.
            In July 2001,
              the FASB also issued FAS 142 'Goodwill and Other Intangible Assets'.
              The provisions of FAS 142 are required to be applied starting with
              fiscal years beginning after 15 December 2001. Certain provisions
              are also applicable to acquisitions completed by the Group subsequent
              to 30 June 2001. FAS 142 supersedes APB Opinion 17 'Intangible Assets'
              and requires, among other things, the discontinuance of amortisation
              related to goodwill and indefinite lived intangible assets. These
              assets will then be subject to an impairment test at least annually.
            The Group has
              applied the non-amortisation provisions of FAS 142 to goodwill acquired
              in the Bridge and ProTrader acquisitions. For all other existing
              goodwill and intangible assets, Reuters will adopt FAS 142 on 1
              January 2002. Due to the extensive effort needed to comply with
              adopting FAS 141 and FAS 142, it is not practicable to estimate
              reasonably the impact of adopting these statements on the Reuters
              financial statements at the date of this report, including whether
              any transitional impairment loss will be required to be recognised
              as the cumulative effect of a change in accounting principles.
            In July 2001,
              the FASB issued FAS 143 'Accounting for Asset Retirement Obligations'
              which is effective for fiscal years beginning after 15 June 2002.
              FAS 143 requires, among other things, that the fair value of a liability
              for an asset retirement obligation be recognised in the period in
              which it is incurred if a reasonable estimate of fair value can
              be made. The associated asset retirement costs are then capitalised
              as part of the carrying amount of the long-lived asset. Reuters
              will adopt FAS 143 no later than 1 January 2003. The adoption of
              FAS 143 is not expected to have a material impact on the consolidated
              financial statements.
            In August 2001,
              the FASB issued FAS 144 'Accounting for the Impairment or Disposal
              of Long-Lived Assets' which is effective for fiscal years beginning
              after 15 December 2001. FAS 144 supersedes FAS 121 'Accounting for
              the Impairment of Long-Lived Assets and for Long-Lived Assets to
              Be Disposed Of' and addresses financial accounting and reporting
              for the impairment or disposal of long-lived assets. Reuters will
              adopt FAS 144 no later than 1 January 2002. The adoption of FAS
              144 is not expected to have a material impact on the consolidated
              financial statements.

|
|
|
|

|INFORMATION FOR SHAREHOLDERS
|----------------------------

|MAJOR SHAREHOLDERS
            Ordinary
              sharesAs of 15 February 2002, there were 1,390,525,637 ordinary shares
              outstanding, excluding 41,733,929 ordinary shares owned by certain
              employee share ownership trusts (see note
              16).
            Reuters has
              received notice under section 198 of the Companies Act 1985, that
              on 15 February 2002, the following parties held notifiable interests
              in Reuters shares:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Capital
            Group Companies, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Barclays
            Bank PLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Legal
            & General Investment Management                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|The Founders
              ShareReuters is dedicated to preserving its independence, integrity
              and freedom from bias in the gathering and dissemination of news
              and information. The Reuters Founders Share Company Limited was
              established to safeguard those qualities and holds a single Founders
              Share. This share may be used to outvote all ordinary shares if
              other safeguards fail and there is an attempt to seize control of
              the company. ('Control', for this purpose, means 30% of the ordinary
              shares). The trustees of the Founders Share Company (who constitute
              both its members and directors) have a duty to ensure, as far as
              they are able by the proper exercise of the powers vested in them,
              that the Reuters Trust Principles
              are observed.
            Reuters Trustees
              are nominated by a Nomination Committee which includes certain serving
              Reuters Trustees, one person nominated by each of four news associations,
              two persons appointed by the Chairman of Reuters and two persons
              appointed after consultation with the European Commission on Human
              Rights. A Reuters Trustee may not be a director or employee of Reuters
              Group.
            The current
              Reuters Trustees are as follows:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                          
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Trustee
            since
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Leonard Terry
            Berkowitz                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1998                     
|Sir Michael Checkland                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1994                     
|Dr. Claude Neville
            David Cole CBE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1984                     
|Uffe Ellemann-Jensen                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2001                     
|Robert Francis
            Erburu                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1999                     
|Pehr Gustaf Gyllenhammar
            (Chairman)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 1997                     
|Toyoo Gyohten                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2000                     
|Jacques Martin
            Henri Marie de Larosière de Champfeu KBE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1999                     
|John Hector McArthur                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2001                     
|Sir Christopher
            Leslie George Mallaby GC, MG, GCVO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1998                     
|The Right Hon.
            The Baroness Noakes DBE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1998                     
|Sir William Purves
            CBE, DSO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1998                     
|Jaakko Kaarle
            Mauno Rauramo                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1999                     
|Ernest James Lyle
            Turnbull AO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1993                     
|Richard John Winfrey                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1987                     
|Dr. Mark Wössner                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2001                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Each Reuters
              Trustee is normally required to retire at the annual general meeting
              (AGM) of the Founders Share Company following the fifth anniversary
              of his or her nomination, or last renomination and will be eligible
              for renomination (unless he or she has reached the age of 75).
            Related
              party transactionsRelated
              party transactions are principally with Radianz and Factiva. During
              2001 and in accordance with inter-company agreements, Radianz provided
              Reuters with network services, totalling £203 million (see
              'Material contracts'). Also during
              the year, Factiva provided picture archiving facilities and the
              internal use of its information product, Reuters Business Briefing,
              for a total cost of £28 million. Reuters provided both companies
              with technical and administrative support services of £184
              million and £41 million respectively. In addition, Reuters
              purchased £14 million of development services from TSI.
            Reuters has
              entered into arrangements with many of its subsidiaries in the normal
              course of business on commercial terms.
            Reuters provides
              financial information services to many of the companies with which
              it shares a common director. These services totalled £77 million
              during 2001. It also purchased services totalling £16 million,
              of which £13 million was software development services from
              one of these companies.
            All the above
              services were in the normal course of business and charged at commercial
              rates. The services are ongoing and continued at historical levels
              through the date of this report.
            Under the terms
              of the agreement with Dow Jones & Co. relating to the formation
              of the Factiva joint venture, Reuters agreed to invest US$20 million
              in cash in the venture over a period of five years. This element
              of the agreement is evidenced by an interest free promissory note.
              At 31 December 2001 the balance outstanding under the note was US$10
              million.
            For further
              information on related party transactions see note
              29.

|TRADING MARKETS
|---------------

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1                                                    | Pension
            funds 32%
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------- | -----------------------------
|2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Insurance
            companies 16%                 
|3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Investment
            funds and trusts (note 1) 14%
|4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | ADSs
            8%                                 
|5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Individuals
            5%                          
|6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Corporate
            holdings 2%                   
|7                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Non-profit
            organisations 1%             
|8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Foreign
            governments 1%                  
|9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Other
            (note 2) 21%                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Note
            1: Includes unit trusts and mutual funds.
             
            Note 2: Includes all holdings below 100,000 shares, except for individuals,
            whose holdings are analysed below this level.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|The ordinary shares
            are traded on the London Stock Exchange and American Depositary Shares
            (ADSs), each representing six ordinary shares, are traded on the Nasdaq
            National Market System. The ADSs are evidenced by American Depositary
            Receipts (ADRs) issued by JPMorgan Chase Bank, as Depositary under
            a Deposit Agreement, dated as of 18 February 1998 (the 'Deposit Agreement'),
            among Reuters Group, the Depositary and ADR holders.
            The table below
              sets forth, for the periods indicated (i) the reported high and
              low sales prices for the ordinary shares based on the Daily Official
              List of the London Stock Exchange and (ii) the reported high and
              low sales prices of the ADSs on Nasdaq. The price information included
              for 1 January 1997 to 18 February 1998 (prior to the capital
              reorganisation) is for the ordinary shares of 2.5 pence each of
              Reuters Holdings PLC and the American Depositary Shares which represented
              them.

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                         |                                |         |        
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------- | ------------------------------ | ------- | -------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | The London
              Stock Exchange | Nasdaq                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Pounds
            per share            | US
            dollars per ADS
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | High                                    | Low                            | High    | Low    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Annual
            market prices:
            1997                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 7.82                                    | 5.55                           | 76.750  | 56.000 
|1998                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 7.70                                    | 4.12                           | 74.750  | 42.125 
|1999                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 10.11                                   | 4.86                           | 100.000 | 50.250 
|2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 16.20                                   | 7.59                           | 157.250 | 72.625 
|2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 11.58                                   | 5.26                           | 103.437 | 46.000 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                         |                                |         |        
|Quarterly
              market prices:
              2000
              First quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 16.20                                   | 7.59                           | 157.250 | 72.625 
|Second
            quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 12.92                                   | 8.69                           | 126.000 | 75.500 
|Third
            quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 14.52                                   | 11.89                          | 128.250 | 101.750
|Fourth
            quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 13.54                                   | 10.38                          | 119.500 | 86.000 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                         |                                |         |        
|2001
            First quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 11.58                                   | 7.70                           | 103.437 | 67.875 
|Second
            quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 10.94                                   | 7.70                           | 93.230  | 66.875 
|Third
            quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 9.25                                    | 5.26                           | 76.990  | 46.000 
|Fourth
            quarter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 8.15                                    | 5.68                           | 69.000  | 50.880 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                         |                                |         |        
|Monthly
            market prices:
            2001
            August                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 8.87                                    | 7.60                           | 75.680  | 66.900 
|September                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 7.86                                    | 5.26                           | 66.760  | 46.000 
|October                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 6.90                                    | 5.68                           | 60.510  | 50.880 
|November                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 8.15                                    | 6.71                           | 69.000  | 57.800 
|December                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 7.85                                    | 6.69                           | 67.500  | 57.040 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                         |                                |         |        
|2002
            January                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 7.47                                    | 5.67                           | 64.360  | 47.950 
|February
            (to 15 February)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 6.00                                    | 5.33                           | 51.210  | 46.500 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Analysis
              of shareholdersAs of 15 February 2002 there were 1,390,525,637 Reuters ordinary
              shares in issue, excluding ordinary shares held by employee share
              ownership trusts. There were 37,324 shareholders on the ordinary
              share register, analysed as in the chart left.
            As of the same
              date 698,317 ordinary shares and ADRs evidencing 18,433,177 ADSs
              (representing 110,599,062 ordinary shares) were held on record in
              the US. These ordinary shares and ADRs were held by 245 record holders
              and 2,324 record holders, respectively and represented 0.05% or
              evidenced ADSs representing 7.95%, respectively, of the total number
              of ordinary shares outstanding. Since certain of these ordinary
              shares and ADRs were held by brokers or other nominees, the number
              of record holders in the US may not be representative of the number
              of beneficial holders or of where the beneficial holders are resident.
            DividendsThe table below sets forth the amounts of interim, final and
              total dividends (excluding any associated UK tax credit discussed
              in UK taxation consequences)
              paid in respect of each fiscal year indicated. Pound sterling amounts
              per share have been translated into US cents per ADS (each representing
              six ordinary shares) at the actual rates of exchange used for each
              of the respective payments of interim and final dividends. The first
              section of the table shows the dividends paid as reported under
              UK GAAP. The second section of the table gives the amounts restated
              for the 1998 capital reorganisation and as reported under US GAAP.

|                                                                        |                             |                          
|----------------------------------------------------------------------- | --------------------------- | -------------------------
|Fiscal
            year ended December 31                               | Pence
            per share | Cents
            per ADS
|                                                                       
|                                                                        | Interim                     | Final                    
|                                                                       
|Dividends
            in accordance with UK GAAP                        |                             |                          
|1997                                                                    | 3.10                        | 9.90                     
|1998                                                                    | 3.40                        | 11.00                    
|1999                                                                    | 3.65                        | 11.00                    
|2000                                                                    | 3.65                        | 12.35                    
|20011                                                                   | 3.85                        | 6.15                     
|                                                                        |                             |                          
|Dividends
            retroactively restated in accordance with US GAAP |                             |                          
|1997                                                                    | 3.58                        | 9.90                     
|19982                                                                   | 108.02                      | 11.00                    
|1999                                                                    | 3.65                        | 11.00                    
|2000                                                                    | 3.65                        | 12.35                    
|20011                                                                   | 3.85                        | 6.15                     
|                                                                       

|1 | Thefinal
            dividend in respect of 2001 is payable on 25 April 2002 to holders
            of ordinary shares on the register at 15 March 2002 and on 2 May 2002
            to holders of ADSs on the register at 15 March 2002 and will be converted
            into US dollars from sterling at the rate prevailing on 2 May 2002.                                                     
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|2 | The1998
            interim dividend amount in accordance with US GAAP consists of the
            interim dividend of 3.40 pence per share (33.69 cents per ADS) paid
            in September 1998 and the amount recorded as a dividend under the
            terms of the capital reorganisation consummated on 18 February 1998
            of 104.62 pence per share (1,024.41 cents per ADS).
| 

|Future dividends
              will be aligned to the normalised earnings of Reuters excluding
              Instinet.
            Memorandum and articles of associationThe following description summarises certain material rights
              of holders of Reuters ordinary shares of 25 pence each and material
              provisions of the Memorandum and Articles of Association of Reuters
              Group (the Articles), the Memorandum and Articles of Association
              of Reuters Founders Share Company Limited and English law. The following
              description is a summary only and is qualified in its entirety by
              reference to the Articles, which have been filed with the SEC, and
              the UK Companies Act 1985, as amended (the Companies Act).
            All of the outstanding
              ordinary shares are fully paid. Accordingly, no further contribution
              of capital may be required by Reuters from the holders of such shares.
            In this description,
              the term holder refers to the person registered in Reuters register
              of members as the holder of the relevant share and the term 'beneficial
              owner' refers to a person other than the holder who has a beneficial
              interest in the relevant share. JPMorgan Chase Bank, which acts
              as Depositary under the Deposit Agreement relating to Reuters American
              Depositary Shares, or ADSs, is the holder of the ordinary shares
              represented by the outstanding ADSs.
            GeneralReuters is incorporated under the name Reuters Group PLC and
              is registered in England and Wales with registered number 3296375.
              The company's objects are set forth in the fourth clause of its
              Memorandum of Association and cover a wide range of activities,
              including the following:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | collecting information
            and supplying news and information services and products;                                                                              
|- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | acquiring and
            operating wireless installations, satellites and other means of communication;                                                                  
| | utilising its
            communications capabilities to provide various financial and securities
            markets services; and                                       
| | carrying on any
            other business supplemental to the foregoing or capable of enhancing
            the company's profitability or capitalising on its expertise.

|The Memorandum of Association grants Reuters Group a broad range of
            corporate powers to effect these objectives.
            The
              Reuters Trust Principles and the Founders Share CompanyThe Articles contain two sets of restrictions relating to the
              ownership of Reuters Group shares. These restrictions are intended
              to ensure continued compliance with the following principles (the
              Reuters Trust Principles) set out in the Articles:
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | that Reuters shall
            at no time pass into the hands of any one interest, group or faction;                                                                                                                                                                                                  
|- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | that the integrity,
            independence and freedom from bias of Reuters shall at all times be
            fully preserved;                                                                                                                                                                      
| | that Reuters shall
            supply unbiased and reliable news services to newspapers, news agencies,
            broadcasters and other media subscribers and to businesses, governments,
            institutions, individuals and others with whom Reuters has or may
            have contracts;
| | that Reuters shall
            pay due regard to the many interests which it serves in addition to
            those of the media; and                                                                                                                                                                
| | that no effort
            shall be spared to expand, develop and adapt the news and other services
            and products of Reuters so as to maintain its leading position in
            the international news and information business.                                                        

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|For the purposes
              of the Reuters Trust Principles, the Articles define the term Reuters
              to mean Reuters Group and every subsidiary of Reuters Group from
              time to time supplying news services.
            The first set
              of restrictions contained in the Articles applies to persons that
              become 'interested' in 15% or more of the ordinary shares outstanding
              at any time. The term 'interested' is defined in the Articles by
              reference to provisions of the Companies Act, which require persons
              to disclose to public companies interests in voting shares in excess
              of a prescribed percentage. Subject to certain exceptions, all shares
              held by a person who reaches the 15% limit will be disenfranchised
              and Reuters may further effect the involuntary disposition of any
              shares exceeding the 15% limit. This set of restrictions is more
              fully described below under 'Rights and restrictions attaching to
              Reuters shares - Restrictions on ownership - Disenfranchisement
              and disposal of excess interests.'
            Second, Reuters
              share capital includes the Founders Share, which is held by the
              Founders Share Company, a company limited by guarantee consisting
              of individuals, referred to as the Reuters Trustees, who constitute
              both its members and directors. The Founders Share empowers the
              Founders Share Company to cast such number of votes as will pass
              any resolution supported by and defeat any resolution opposed by,
              the Founders Share Company if it believes that any person or persons
              have obtained, or are seeking to obtain, control of Reuters. Control
              for these purposes is defined as the ability to control the exercise
              of 30% or more of the votes that may be cast on a poll at general
              meetings. Under the Articles, the special rights attaching to the
              Founders Share may not be varied or abrogated in any respect without
              the prior written consent of the Founders Share Company. The rights
              attaching to the Founders Share are described in more detail below
              under 'Rights and restrictions attaching to Reuters shares - Voting
              rights - Rights conferred by Founders Share.'
            The restrictions
              on interests in ordinary shares and the extraordinary voting rights
              of the Founders Share may be characterised as anti-takeover provisions
              to the extent they are intended to prevent a bid for control of
              Reuters. Tender offers or other non-market acquisitions of shares
              are usually made at prices above the prevailing market price of
              a company's shares. Acquisitions of shares by persons attempting
              to acquire control through market purchases may support the price
              of shares at market levels higher than otherwise would be the case.
              The 'anti-takeover' provisions applicable to Reuters may be expected
              to preclude such offers.
            DirectorsThe company's Articles provide for a Board of Directors consisting
              of not fewer than five nor more than 15 directors. The Articles
              require that, in performing their duties, the directors have due
              regard for the Reuters Trust Principles insofar as, by the proper
              exercise of their powers and in accordance with their other duties
              as directors, the directors may do so.
            The Articles
              contain provisions that require the Board of Directors to include
              at least five non-executive directors before a new executive director
              can be appointed.
            Under the Articles,
              a director may not vote in respect of any contract, arrangement
              or proposal in which the director, or any person connected with
              the director, has any material interest other than by virtue of
              the director's interests in securities of, or otherwise in or through,
              Reuters Group. This is subject to certain exceptions relating to
              proposals (a) giving the director any guarantee, security or indemnity
              in respect of obligations incurred at the request of or for the
              benefit of Reuters Group, (b) giving any guarantee, security or
              indemnity to a third party in respect of obligations of the Group
              for which the director has assumed responsibility under an indemnity
              or guarantee, (c) relating to an offer of securities of the Group
              in which the director may be entitled to participate or will be
              interested as an underwriter, (d) concerning any other company in
              which the director is beneficially interested in less than one per
              cent of the issued shares of any class of the company or the voting
              rights available to its shareholders, (e) relating to the adoption,
              modification or operation of any employee benefits plan which will
              provide the director with the same benefits as other employees and
              (f) relating to any liability insurance that Reuters is empowered
              to purchase for its directors or employees in respect of actions
              undertaken as directors or officers of Reuters Group.
            The compensation
              awarded to executive directors is decided by a remuneration committee,
              which consists exclusively of non-executive directors.
            The directors
              are empowered to exercise all the powers of the Group to borrow
              money, subject to the limitation that the aggregate principal amount
              outstanding in respect of moneys borrowed by Reuters shall not exceed
              a sum equal to two and a half times Reuters share capital and aggregate
              reserves, calculated in the manner described in the Articles, and
              £5,000 million, unless sanctioned by an ordinary resolution
              of the company's shareholders.
            At each annual
              general meeting of shareholders at least one-third of the directors
              (or, if their number is not a multiple of three, the number nearest
              to but not greater than one-third) shall retire from office by rotation.
              The directors to retire by rotation at the annual general meeting
              include any director who is due to retire at the meeting by reason
              of age. A retiring director shall be eligible for re-election. For
              additional information see the directors'
              report and corporate
              governance.
            A non-executive
              director is not required to hold shares of Reuters Group in order
              to qualify as a director. A director not holding any shares may
              nevertheless attend and speak at general meetings of Reuters.
            Rights and
              restrictions attaching to Reuters shares
              DividendsHolders of ordinary shares are entitled to participate in the
              payment of dividends pro rata to their holdings. The Founders Share
              is not entitled to participate in the payment of dividends. The
              Board of Directors may propose and pay interim dividends and recommend
              a final dividend, in respect of any accounting period out of the
              profits available for distribution under English law. A final dividend
              may be declared by the shareholders in general meeting by ordinary
              resolution but no dividend may be declared in excess of the amount
              recommended by the Board.
            The company
              may allot ordinary shares in lieu of cash dividends, subject to
              shareholder approval at the time the relevant dividend is declared.
              In addition, Reuters may declare and pay equivalent dividends to
              shareholders outside the United Kingdom in local currencies and
              pay such dividends to the Depositary for value on the payment date.
            Voting rights
              Rights conferred by ordinary shares. Voting at a general meeting
              of shareholders is by show of hands unless, before or on making
              known the result, a poll is demanded in accordance with the Articles.
              If voting is by show of hands, each holder of ordinary shares who
              is present in person has one vote. On a poll, every holder of ordinary
              shares who is present in person or by proxy has one vote for every
              ordinary share held.
            Holders of a
              substantial number of ordinary shares may be disenfranchised under
              the circumstances described under 'Restrictions on ownership' below.
            
            Rights conferred
              by Founders Share. The Founders Share confers upon the Founders
              Share Company the right to cast such number of votes as are necessary
              to defeat any resolution which would vary or abrogate the rights
              of the Founders Share. The Articles provide that the alteration
              of specified articles relating to the Founders Share and the Reuters
              Trust Principles are deemed to constitute a variation of the rights
              of the Founders Share. In addition, any resolution proposing the
              winding up of Reuters voluntarily, by the Court, or any reconstruction
              of Reuters, or any resolution which would attach to any share voting
              rights not identical in all respects with those of the ordinary
              shares, is deemed to be a variation of the rights of the Founders
              Share.
            Additionally,
              if there are, in the opinion of the Founders Share Company, reasonable
              grounds for believing that any person and his associates have obtained
              or are attempting to obtain, directly or indirectly, control of
              the Group, the Founders Share Company is entitled in its absolute
              discretion to serve on Reuters a written notice (a Founders Share
              Control Notice) to that effect. Control is defined for these purposes
              as the ability to control the exercise of 30% or more of the votes
              which may be cast on a poll at a general meeting of Reuters. At
              all times after the service of a Founders Share Control Notice and
              pending its rescission, the Founders Share confers upon the Founders
              Share Company the right to cast on a poll such number of votes as
              are necessary to ensure the effective passing of any resolution
              in favour of which it votes and to ensure the defeat of any resolution
              against which it votes. The Articles provide that the opinion of
              the Founders Share Company in respect of the service or rescission
              of a Founders Share Control Notice shall be final and binding and
              may not be challenged on any grounds whatsoever.
            The Founders
              Share Company is entitled at any time to serve upon Reuters a written
              request for an extraordinary general meeting of the company and
              the directors are obligated to comply with such request. If they
              do not comply, the Founders Share Company is entitled to convene
              an extraordinary general meeting of Reuters. If a Founders Share
              Control Notice has been served, however, the Founders Share Company
              can convene an extraordinary general meeting of Reuters Group without
              first requesting that the directors do so.
            Any two Reuters
              Trustees can bind all Reuters Trustees to exercise the voting rights
              attaching to the Founders Share so as to defeat a resolution that
              would be deemed to be a variation of the rights attached to the
              Founders Share. However, the vote of a majority of the Reuters Trustees
              is required to determine whether a Founders Share Control Notice
              should be served and, if so, the manner in which the voting rights
              attaching to the Founders Share shall be exercised (excluding the
              vote of any Reuters Trustee who is associated with or materially
              financially interested in the person attempting to obtain control
              of Reuters Group).
            Restrictions
              on ownership
              Ordinary shares. Under the Articles, a person is 'interested'
              in shares if, among other things, he is interested directly, or
              through his family or one or more companies, or through an interest
              in association with others pursuant to an agreement or understanding,
              or through a trust or if he controls the voting rights of others.
              The definition of 'interest in shares' in the Articles is made by
              reference, with specified variations, to certain provisions of the
              Companies Act.
            Disclosure
              of interests in ordinary shares. The Articles provide for the
              disclosure of interests in Reuters ordinary shares by reference
              to the Companies Act provisions mentioned above, with specified
              variations. Under these provisions as currently in force, if a person
              acquires an 'interest' (as defined therein, in a manner similar
              but not identical to the definition under the Articles) in voting
              shares of a public company amounting to 10% or more of the voting
              shares of any class, or if he increases or reduces such holding
              by at least 1% or if he ceases to have such holding, he is obligated
              to notify the company within two days of the day on which he acquired
              10% or any such change in his interest took place. Further, if his
              interest is a 'material interest' (defined as meaning all interests
              in shares subject to certain exceptions, including for interests
              arising by virtue of certain investment management arrangements)
              the 10% referred to above is reduced to 3%.
            The Articles
              provide for disenfranchisement of shares which are the subject of
              a notice under Section 212 of the Companies Act (which allows a
              company to require disclosure of certain details concerning ownership
              of its shares) if the person served with the notice is in default
              in answering it. The Articles also provide for the imposition of
              restrictions on transferability of the shares concerned and on the
              right to receive dividends if such shares represent at least 0.25%
              of the class concerned. Such restrictions cannot, however, be imposed
              until the expiry of 14 days. Any such restrictions cease if the
              shares concerned are sold pursuant to a takeover offer or to an
              unconnected third party or through the London Stock Exchange. The
              restrictions on transferability only apply to certificated shares.
              Where a holder of uncertificated shares is in default in answering
              a Section 212 notice, the Articles provide that the Founders Share
              Company may require the directors of Reuters to apply to the Court
              for such order as may be appropriate.
            Disenfranchisement
              and disposal of excess interests. Subject to certain exceptions
              described below, certain restrictions apply to persons that become
              'interested' (as defined in the Articles) in 15% or more of the
              ordinary shares. If any person becomes interested in 15% or more
              of the outstanding shares (the 'Relevant Shares'), the directors
              of Reuters Group are required to serve a Restriction Notice on that
              person, on any other person known to the directors to have an interest
              in the Relevant Shares and, if different, on the registered holder
              of the Relevant Shares. While a Restriction Notice in respect of
              Relevant Shares is in force, a registered holder of the Relevant
              Shares is not entitled to attend or vote, either in person or by
              proxy, at any general meeting of the company or at any meeting of
              the holders of any class of shares of Reuters. In addition, a Restriction
              Notice will require such person to dispose of any Relevant Shares
              exceeding the 15% limit and supply evidence to the company that
              such disposal has occurred within 21 days or such longer period
              as the directors consider reasonable. If such disposition is not
              made within the specified period, the directors of the company are
              empowered to dispose of any shares exceeding the 15% limit. Such
              disposition may be made on terms determined by the directors, including
              by means of an instruction to effect an electronic transfer in the
              case of uncertificated shares. The net proceeds of the disposition
              shall be paid, without interest, to the former registered holder
              of the Relevant Shares. Under the Articles, any belief, resolution,
              decision or action of the directors held, made or taken pursuant
              to any of the provisions concerning restrictions on ownership shall
              be conclusive, final and binding on all persons concerned and may
              not be challenged on any grounds whatsoever.
            The restrictions
              are subject to certain modifications where a person becomes interested
              in 15% or more of the issued shares of any class by reason of a
              rights issue or an underwriting in the ordinary course of its business.
            The Founders
              Share. Ownership of the Founders Share is restricted to the
              Founders Share Company. Under its Memorandum of Association, the
              Founders Share Company is not permitted, directly or indirectly,
              to dispose of the Founders Share or of any interest therein, or
              to grant any rights in respect of the Founders Share or any interest
              therein.
            Pre-emptive
              rights, new issues of shares and repurchase of sharesHolders of ordinary shares have no pre-emptive rights under
              the Articles. However, the ability of the directors to cause Reuters
              to issue shares, securities convertible into shares or rights to
              shares, otherwise than pursuant to an employee share scheme, is
              restricted.
            Under the Companies
              Act, the directors of a company are, with certain exceptions, unable
              to allot any equity securities without express authorisation, which
              may be contained in a company's Articles of Association or given
              by its shareholders in general meeting, but which in either event
              cannot last for more than five years. The Companies Act imposes
              further restrictions on the issue of equity securities for cash
              other than issue by way of rights to existing shareholders unless
              the statutory requirement is displaced or modified by the shareholders
              in general meeting or under the company's Articles of Association.
            At the annual
              general meeting to be held on 23 April 2002, a resolution will be
              proposed to authorise the directors to allot relevant securities,
              as defined in the Companies Act, including any equity securities,
              up to an aggregate nominal amount of £128,874,196 until the
              earlier to occur of Reuters annual general meeting in 2003 or 23
              July 2003. The resolution will also authorise equity securities
              as defined in the Companies Act to be issued within this limit by
              way of a rights offer, or otherwise pro rata to existing shareholders,
              but other issues of equity securities, except for shares issued
              pursuant to employee share schemes, will be limited to an aggregate
              of £17,900,815 in nominal value.
            Subject to applicable
              provisions of English law, the company may purchase ordinary shares.
              Currently, it has general authority to repurchase up to 142,914,752
              ordinary shares at prices ranging from 25 pence and not more than
              5% above the average of the middle market quotations taken from
              the Daily Official List of the London Stock Exchange for the five
              business days before the purchase is made. At the annual general
              meeting on 23 April 2002, a resolution will be proposed to increase
              this authority to 143,206,517 ordinary shares.
            Rights in
              a winding upIf Reuters Group PLC is wound up, the liquidator may, with the
              authority of an extraordinary resolution, divide among the holders
              of ordinary shares and the Founders Share, pro rata to their holdings,
              the assets of Reuters (after satisfaction of liabilities to creditors),
              provided, however, that the Founders Share Company may receive up
              to £1 and no more.
            Variation
              of rights and alteration of share capitalIf, at any time, the company's share capital is divided into
              different classes of shares, the rights attached to any class may
              be varied, subject to the provisions of the Companies Act, with
              the consent in writing of holders of three-quarters in value of
              the shares of that class or upon the adoption of an extraordinary
              resolution passed at a separate meeting of the holders of the shares
              of the class. At every such separate meeting, all of the provisions
              of the Articles relating to proceedings at a general meeting apply,
              except that the quorum is to be the number of persons (which must
              be two or more) who hold or represent by proxy not less than one-third
              in nominal value of the issued shares of the class.
            The company can
              increase its share capital by ordinary resolution in conformity
              with the provisions of the Companies Act. However, new shares cannot
              have voting rights, which are not identical to those of ordinary
              shares without the prior written consent of the Founders Share Company.
              Furthermore, the company may issue shares with preferred and other
              special rights or restrictions, provided that the prior written
              consent of the Founders Share Company is required for issuing any
              shares with rights not identical to those of ordinary shares. Reuters
              Group can consolidate, divide and cancel any of its shares (other
              than the Founders Share) by extraordinary resolution and can reduce
              its share capital (other than the Founders Share).
            Annual general
              meetings and extraordinary general meetingsAnnual general meetings must be convened upon advance written
              notice of 21 days. An extraordinary general meeting must be convened
              upon advance written notice of 21 days for the passing of a special
              resolution and 14 days for any other resolution, depending on the
              nature of the business to be transacted. The notice must specify
              the nature of the business to be transacted if it is other than
              routine business or if an extraordinary or a special resolution
              is proposed. The notice may also specify a time, not more than 48
              hours prior to the time fixed for the meeting, by which a person
              must be entered on the share register in order to have the right
              to attend and vote at the meeting.
            Limitations
              on voting and shareholdingThere are no limitations imposed by English law or Reuters Articles
              on the right of non-residents or foreign persons to hold or vote
              ordinary shares or ADSs, other than the limitations that would generally
              apply to all of the Reuters shareholders.
            ACQUISITION
              OF BRIDGEThe following unaudited pro forma information gives the impact
              of Bridge on the results of the Group as if the acquisition had
              taken place on 1 January 2001 and 1 January 2000 respectively. The
              unaudited pro forma information does not purport to represent the
              results of operations that would have been attained if the Bridge
              acquisition had taken place at the beginning of each of the years
              presented, or that may be attained in the future.
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

|For the year
              ended 31 December
|--------------------------------------------
|                                            
|                                            
|                                            
|Group
            revenue                   
|Net
            profit                      
|Basic
            earnings per share        
|Diluted
            earnings per share      
|                                            

|MATERIAL CONTRACTSBridge
              acquisition agreementIn
              May 2001 Reuters entered into an Asset Purchase Agreement with Bridge
              Information Systems, Inc. and certain of its subsidiaries, many
              of whom were, together with Bridge Information Systems, Inc., in
              bankruptcy proceedings under the US Bankruptcy Code. The agreement,
              which was subsequently amended and restated, provided for the purchase
              by Reuters of certain assets and businesses from Bridge for cash
              consideration of approximately £190 million, subject to adjustment
              under certain circumstances, plus the payment of certain liabilities
              related to contracts to be transferred to Reuters. Under the agreement,
              Reuters agreed to pay Bridge up to £7 million a month from
              1 July 2001 through to closing, and also to provide financing in
              the form of convertible debt to Bridge's network provider Savvis
              of up to an average of £5 million a month from 1 May 2001 through
              to closing.
            The agreement
              contained customary representations and pre-closing covenants, although
              as is customary in transactions of this nature involving an acquisition
              from a bankrupt entity, it did not generally grant Reuters the right
              to seek damages for breaches of representation or indemnification
              after the closing. The transaction was completed at the end of September
              2001. In addition to the purchase price, Reuters provided aggregate
              funding to Bridge prior to the closing of £21 million and purchased
              convertible debt from Savvis with an aggregate principal value of
              £25 million.
            Savvis network
              services agreementIn
              connection with the Bridge acquisition, in May 2001 Reuters Limited
              entered into a binding term sheet with Savvis, Bridge's network
              service provider, under which Savvis agreed to provide Reuters internet
              protocol network services, internet access and co-location services
              (the 'Services') necessary to continue network services for the
              Bridge business and customers to be acquired by Reuters. The term
              sheet was formalised by an agreement entered into by the parties
              in September 2001. The agreement, which has a five-year term, requires
              Reuters to purchase a minimum of £67 million worth of Services
              in the first year of the agreement, £63 million worth of Services
              in the second year of the agreement, £59 million worth of Services
              in the third year of the agreement and £34 million worth of
              Services in the fourth and fifth years of the agreement, subject
              to adjustment and reduction under certain circumstances. In accordance
              with the terms of the agreement, the minimum purchase amounts will
              be reduced by approximately £38 million (applied to later year
              minimums first), representing the amount of payments made by Bridge
              to Savvis for Services while the Bridge acquisition was pending.
              If Savvis does not meet certain required quality of service levels,
              Reuters is entitled to credits and, in the event of a material breach
              of such quality service levels, Reuters is entitled to terminate
              the agreement.
            
            Radianz 
              joint venture with EquantIn May 2000 Reuters and Equant established a joint venture company
              (Radianz) to offer secure internet protocol network services to
              the financial services industry. Reuters has transferred substantially
              all of its telecommunications network assets into Radianz and owns
              51% of Radianz. To secure the long-term availability of the Radianz
              network, Reuters Limited entered into a Network Services Agreement
              (the NSA) with Radianz on 22 May 2000. The NSA has an initial term
              ending on 1 July 2005 and thereafter remains in full force and effect
              for successive one-year periods unless terminated by either party.
              Among other things, either party can terminate the NSA after the
              end of the initial term by one party giving to the other not less
              than six months' notice which expires at the end of the initial
              five-year period or any subsequent renewal year. On termination,
              Radianz has agreed to provide reasonable assistance to Reuters to
              ensure that the Reuters Group can migrate the services from Radianz
              to a third-party company.
            The standards
              for performance of services provided have been agreed between Reuters
              and Radianz. In addition, the NSA sets out the processes and procedures
              for managing the contract going forward. In particular the NSA sets
              out details for monthly performance reviews to review capacity service
              levels, operational changes and orders, introduction of new services
              and ongoing requirements by the Reuters Group. There is also provision
              for quarterly meetings to discuss the contract and its operation
              and technical matters relating to the business continuity plans.
              Meetings are attended by representatives of Reuters, Radianz and
              their respective groups as appropriate.
            Reuters has generally
              agreed to continue to use Radianz for its network services in support
              of global and strategic products during the term of the agreement.
              Detailed provisions in respect of rates and charges have been agreed
              between Reuters and Radianz, which Reuters believes are competitive
              with the cost of reasonably comparable services. Radianz has agreed
              that it shall provide the network services to Reuters on terms which
              are no less favourable than reasonably comparable services offered
              to any other customer of Radianz and Reuters has agreed to spend
              an agreed amount with Radianz annually.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|INFORMATION
            FOR US SHAREHOLDERS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |         
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | --------
|Exchange
              controlUnder
              English Law and Reuters Group Articles persons who are neither residents
              nor nationals of the UK may freely hold, vote and transfer their
              ordinary shares in the same manner as UK residents or nationals.
            There are currently
              no UK foreign exchange control restrictions on remittances of dividends
              on ordinary shares or on the conduct of the Group's operations.
            Exchange
              ratesThe
              following table sets forth, for the periods indicated, the average
              or the high and low Noon Buying Rates for pounds sterling in US
              dollars per £1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |         
|Fiscal
            year ended
            31 December                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | Average*
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|1997                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1.65    
|1998                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1.66    
|1999                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1.62    
|2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1.52    
|2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1.44    
|2002
            (to 15 February)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 1.42    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |         
|Month                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | High | Low     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|August
            2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.46 | 1.42    
|September
            2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.47 | 1.44    
|October
            2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.48 | 1.42    
|November
            2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.47 | 1.41    
|December
            2001                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.45 | 1.42    
|January
            2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.45 | 1.41    
|February
            2002
            (to 15 February)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 1.43 | 1.41    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|*The
            average exchange rates have been calculated using the Noon Buying
            Rates on the last trading day of each calendar month during the period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|On 15 February
              2002 the Noon Buying Rate was $1.43 per £1.
            Fluctuations
              in the exchange rate between the pound sterling and the US dollar
              will affect the US dollar amounts received by holders of the
              ADSs upon conversion by the depositary of cash dividends paid in
              pounds sterling on the ordinary shares and represented by the ADSs.
              Also, fluctuations in the exchange rate may affect the relative
              market prices of the ADSs in the US and the ordinary shares in the
              UK.
            For the effect
              on the Group's results of operations of fluctuations in the exchange
              rates between the pound sterling and the other major currencies
              (including the US dollar) in which revenues are received and expenditures
              are made by Reuters, see operating
              and financial review.
            
            Taxation
              for US shareholdersThe
              following discussion of taxation is intended only as a descriptive
              summary and does not purport to be a complete technical analysis
              or listing of all potential tax effects relevant to a decision to
              acquire the ordinary shares or ADRs. The following summaries of
              UK and US tax laws are based on current tax laws, current UK Inland
              Revenue published practice and the terms of the UK/US income tax
              treaty (the 'Treaty') and the New Treaty (as defined below), as
              appropriate, all of which are subject to a change at any time, possibly
              with retrospective effect.
            UK
              taxation consequencesUK
              taxation of dividends  refund of tax creditsUnder
              current UK taxation legislation, no withholding tax will be deducted
              from dividends paid by Reuters.
            A shareholder
              who is an individual resident for tax purposes in the UK, is entitled
              to a tax credit on cash dividends paid by Reuters on ordinary shares
              equal to one-ninth of the cash dividend or 10% of the dividend plus
              the tax credit. The tax credit may be set off against a UK resident
              individual shareholder's total income tax liability, but no cash
              refund will be available, save that where ordinary shares are held
              in Personal Equity Plans and Individual Savings Accounts, the tax
              credit on dividends received into such accounts before 6 April 2004
              will generally be repayable.
            Under the Treaty,
              a US holder (as defined under 'US tax consequences') is entitled,
              in principle, to receive a payment from the UK Inland Revenue in
              respect of a dividend from Reuters in an amount equal to the tax
              credit to which a UK resident individual is generally entitled in
              respect of the dividend. However, the entitlement is subject to
              a deduction withheld under the Treaty. In this case, the amount
              of such deduction will be equal to the tax credit amount ie, one-ninth
              of the dividend received. As a result, a US holder will not receive
              any payment from the UK Inland Revenue in respect of a dividend
              from Reuters but will have no further UK tax to pay in respect of
              that dividend either.
            Special rules
              apply for the purposes of determining the tax credit available to
              a US corporation which, either alone or together with one or more
              associated corporations, controls, directly or indirectly, 10% or
              more of the voting stock of the company.
            The UK and US
              have entered into a new tax treaty (the 'New Treaty') which has
              now to be ratified by both the UK Parliament and the US Senate before
              its provisions come into force. It is not known when these procedures
              will be completed, but once the New Treaty comes into force, US
              holders will have no entitlement to claim any tax credit from the
              UK Inland Revenue in respect of dividends as described above. There
              will be no further UK tax to pay in respect of cash dividends received
              from the company.
            UK taxation
              of capital gainsThe
              following categories of US persons may be liable for both UK and
              US tax in respect of a gain on the disposal of ordinary shares or
              ADRs: (i) US citizens resident or ordinarily resident in the UK,
              (ii) US corporations resident in the UK by reason of their business
              being managed or controlled in the UK and (iii) US citizens or corporations
              which are trading or carrying on a profession or vocation in the
              UK, through a branch or agency and which have used, held, or acquired,
              the ordinary shares or ADRs for the purposes of such trade, profession
              or vocation of such branch or agency. However, subject to applicable
              limitations and provisions of the Treaty, such persons may be entitled
              to a tax credit against their US federal income tax liability, for
              the amount of UK capital gains tax or UK corporation tax on chargeable
              gains (as the case may be), which is paid in respect of such gain.
            Under the New
              Treaty, capital gains on disposals of ordinary shares or ADRs will
              generally be subject to tax only in the state of residence of the
              relevant holder as determined under both the laws of the UK and
              the US and as required by the terms of the New Treaty.
            The New Treaty
              also contains an anti-avoidance rule relevant to individuals who
              are resident of either the UK or the US and who have been resident
              of the other state (the US or the UK, as the case may be) at any
              time during the six years immediately preceding the relevant disposal
              of property. The New Treaty provides that, in such circumstances,
              capital gains arising from the relevant disposal may be subject
              to tax not only in the state of which the holder is resident at
              the time of the disposal, but also in that other state.
            UK inheritance
              taxAn
              individual who is domiciled in the US for the purposes of the UK/US
              estate and gift tax convention and who is not a national of the
              UK for the purposes of that convention, generally will not be subject
              to UK inheritance tax in respect of the ordinary shares or ADRs
              on the individual's death, or on a transfer of the ordinary shares
              or ADRs during the individual's lifetime. However, the individual
              will be subject to UK inheritance tax if the ordinary shares or
              ADRs are part of the business property of a permanent establishment
              of the individual in the UK, or pertain to a fixed base in the UK
              of an individual who performs independent personal services. Special
              rules apply to ordinary shares or ADRs held in trust. In the exceptional
              case, where the disposition is subject both to UK inheritance tax
              and to US federal gift or estate tax, the convention generally provides
              for any tax paid in the UK to be credited against tax liable to
              be paid in the US, or for tax paid in the US to be credited against
              the tax payable in the UK, based on priority rules set out in the
              convention.
            UK stamp
              duty and stamp duty reserve taxNo
              UK stamp duty or interest thereon need be paid on the transfer of
              an ADR, or written agreement to transfer an ADR, provided that the
              instrument of transfer, or written agreement, is executed and remains
              outside the UK and does not relate to any matter or thing done,
              or to be done, in the UK, nor will UK stamp duty reserve tax (SDRT)
              be imposed in respect of any agreement for such a transfer of ADRs.
            UK stamp duty
              will generally be charged on conveyances or transfers of ordinary
              shares, at the rate of 0.5% of the amount or value of the consideration,
              if any, for the transfer (rounded up to the next multiple of £5).
            SDRT will be
              imposed, at the rate of 0.5% of the amount or value of the consideration
              for the transfer, if an agreement is made for the transfer of ordinary
              shares, unless an instrument of transfer of the ordinary shares
              in favour of the purchaser, or its nominee, is executed and duly
              stamped within six years of the day that the agreement is made (or,
              in a case where the agreement is conditional, the day that the condition
              is satisfied) in which case, any SDRT paid will be repaid (together
              with interest where the SDRT is not less than £25) on a claim
              for repayment or, to the extent not paid, the charge to SDRT will
              be cancelled. SDRT is in general payable by the purchaser of ordinary
              shares, but there are regulations which provide for collection from
              other persons in certain circumstances.
            UK stamp duty
              or SDRT will generally be imposed on any instrument transferring
              ordinary shares to a person, or to a nominee or agent for such a
              person, whose business is or includes issuing depositary receipts
              (such as the ADRs) for relevant securities. In these circumstances,
              stamp duty or SDRT will be charged at the rate of approximately
              1.5% of the amount or value of the consideration for conveyance
              or transfer on sale or, otherwise, 1.5% of the value of the security
              transferred at the date the instrument is executed.
            A transfer of
              ordinary shares from a depositary, or its agent or nominee, to a
              transferee, which results in the cancellation of the ADR, which
              cancellation is liable to stamp duty as a 'conveyance or transfer
              on sale' because it completes a sale of such ordinary shares, will
              be liable to ad valorem stamp duty, at the rate of 0.5% of the amount
              or value of the consideration, if any, for the transfer. A transfer
              of ordinary shares from a depositary, or its agent or nominee, to
              the ADR holder, which results in cancellation of the ADR but where
              there is no transfer of beneficial ownership, is not liable to duty
              as a 'conveyance or transfer on sale', but will be liable to a fixed
              stamp duty of £5.
            US taxation
              consequencesThe
              following is a summary of certain US federal income tax consequences
              of the ownership of ordinary shares or ADRs by a US holder that
              holds the ordinary shares or ADRs as capital assets and does not
              take into account the specific circumstances of any particular investors,
              some of which may be subject to special rules. In addition, the
              summary is based in part upon the representations of the Depositary
              and the assumption that each obligation in the Deposit Agreement
              and any related agreement will be performed in accordance with its
              terms.
            For purposes
              of this discussion, a 'US holder' is any beneficial owner of ordinary
              shares or ADRs that is (i) a citizen or resident of the US, (ii)
              a corporation organised under the laws of the US or any US State,
              (iii) an estate the income of which is subject to US federal income
              tax without regard to its source, or (iv) a trust if a court within
              the US is able to exercise primary supervision over the administration
              of the trust and one or more US persons have the authority to control
              all substantial decisions of the trust.
            US taxation
              of dividendsSubject
              to the passive foreign investment company (PFIC) rules discussed
              below, the dividend paid by Reuters out of its current or accumulated
              earnings and profits (as determined for US federal income tax purposes)
              generally will be treated as dividend income for US federal income
              tax purposes. The amount of dividend includable in income of a US
              holder includes any UK tax withheld from the dividend payment and
              amounts in respect of the UK tax credit and any amounts withheld
              in respect thereof. Such dividend will not be eligible for the 70%
              dividends received deduction allowed to US corporations. The amount
              of the dividend distribution includable in income of a US holder
              will be the US dollar value of the pound sterling payments made,
              determined at the spot pound sterling/US dollar rate on the date
              such dividend distribution is includable in the income of the US
              holder, regardless of whether the payment is in fact converted into
              US dollars.
            The UK withholding
              tax will be eligible, subject to generally applicable limitations,
              for credit against the US holder's US federal income tax, assuming
              such holder is eligible for the benefits of the Treaty and elects
              to have the Treaty apply to such dividends. Subject to certain limitations,
              for foreign tax credit limitation purposes, the dividend will be
              income from sources outside the US, but generally will be treated
              separately, together with other items of 'passive income' (or, in
              the case of certain holders, 'financial services income'). In general,
              in the case of eligible US holders, subject to certain limitations,
              the UK withholding tax as determined by the Treaty (ie, an amount
              equal to one-ninth of the cash dividend) will be treated as a foreign
              income tax that is eligible for credit against the US holders' federal
              income tax. To qualify for such credit, US holders must make an
              election on Form 8833 (Treaty-Based Return Position Disclosure),
              which must be filed with their tax return, in addition to any other
              filings that may be required. US holders should consult their tax
              advisors as to the application of the foreign tax credit rules and
              their eligibility for Treaty benefits in their own circumstances.
            On 24 July 2001,
              the United States of America and the United Kingdom signed the New
              Treaty that, if ratified, would replace the Treaty. The New Treaty
              would make a number of important changes. In particular, under the
              New Treaty, US holders would not be entitled to a UK tax credit
              and accordingly there would be no imposition of UK withholding tax
              and no associated United States foreign tax credit. The New Treaty
              would generally be effective, in respect of taxes withheld at source,
              for amounts paid or credited on or after the first day of the second
              month after the New Treaty is ratified. Other provisions of the
              New Treaty would take effect on the first of January next following
              the date of ratification. If the New Treaty is ratified, the rules
              of the Treaty would remain in effect until the effective dates described
              above. However, a US holder would be entitled to elect to have the
              Treaty apply in its entirety for a period of twelve months after
              the effective dates of the New Treaty.
            US taxation
              of capital gainsSubject
              to the PFIC rules discussed below, upon a sale or other disposition
              of ordinary shares or ADRs, a US holder will recognise a gain or
              loss for US federal income tax purposes in an amount equal to the
              difference between the US dollar value of the amount realised and
              the US holder's tax basis (determined in US dollars) in such ordinary
              shares or ADRs. Generally, such gain or loss will be capital gain
              or loss and will be long-term capital gain or loss if the US holder's
              holding period for such ordinary shares or ADRs exceeds one year.
              Any such gain or loss generally will be income or loss from sources
              within the US for foreign tax credit limitation purposes. Long-term
              capital gain of a non-corporate US holder is generally subject to
              a maximum tax rate of 20%.
            PFICReuters
              believes that its ordinary shares and ADRs should not be treated
              as stock of a PFIC for US federal income tax purposes, but this
              conclusion is a factual determination made annually and thus may
              be subject to change. If Reuters were to be treated as a PFIC, unless
              a US holder elects to be taxed annually on a mark-to-market basis
              with respect to the ordinary shares or ADRs, a gain realised on
              the sale or other disposition of ordinary shares or ADRs would,
              in general, not be treated as capital gain and a US holder would
              be treated as if such holder had realised such gain and certain
              'excess distributions' ratably over the holder's holding period
              for the ordinary shares or ADRs and would be taxed at the highest
              tax rate in effect for each such year to which the gain was allocated,
              together with an interest charge in respect of the tax attributable
              to each such year.

|SUMMARY
            OF 2000 AND 2001 RESULTS                                  
|------------------------------------------------------------------------------
|                                                                              
|£m                                                                            
|                                                                              
|Revenue                                                                       
|                                                                              
|Reuters
            Information                                               
|High
            Tier                                                         
|Middle
            Tier                                                       
|Lower
            Tier                                                        
|                                                                              
|Total                                                                         
|                                                                              
|Reuters
            Trading Solutions                                         
|Transactions                                                                  
|Applications
            and Enterprise Solutions                             
|Retail
            Solutions                                                  
|                                                                              
|Total                                                                         
|                                                                              
|Bridge                                                                        
|Reuters
            Financial                                                 
|                                                                              
|Reuterspace                                                                   
|                                                                              
|Reuters                                                                       
|                                                                              
|Instinet                                                                      
|US                                                                            
|International                                                                 
|                                                                              
|Total                                                                         
|                                                                              
|Intra-group
            revenue                                               
|                                                                              
|Total
            revenue                                                     
|                                                                              
|Adjustment
            for intra-group revenue                                
|                                                                              
|Divisional
            revenue                                                
|                                                                              
|                                                                              
|£m                                                                            
|                                                                              
|Costs                                                                         
|                                                                              
|Reuters
            Financial                                                 
|Reuterspace                                                                   
|                                                                              
|Reuters                                                                       
|Instinet                                                                      
|Intra-group
            costs                                                 
|                                                                              
|Total
            costs                                                       
|Adjustment
            for intra-group costs                                  
|Divisional
            costs                                                  
|                                                                              
|Divisional
            profit                                                 
|                                                                              
|Reuters
            Financial                                                 
|Reuterspace                                                                   
|                                                                              
|Reuters                                                                       
|Instinet                                                                      
|                                                                              
|Total                                                                         
|Net
            currency (loss)/gain                                          
|                                                                              
|Divisional
            profit                                                 
|                                                                              
|                                                                              
|£m                                                                            
|                                                                              
|Divisional
            profit margin                                          
|                                                                              
|Reuters
            Financial                                                 
|Reuterspace                                                                   
|Instinet                                                                      
|                                                                              
|Total
            divisional profit margin                                    
|                                                                              
|Business
            Transformation costs                                     
|Amortisation
            of goodwill and other intangibles                    
|                                                                              
|Operating
            profit                                                  
|                                                                              
|Operating
            result from joint ventures                              
|Operating
            result from associates                                  
|Profit/(loss)
            on disposals of fixed assets/investments            
|Profit
            on disposals of subsidiary undertakings                    
|Amounts
            written off fixed asset investments, JVs and associates   
|Income
            from fixed asset investments                               
|Net
            interest (payable)/receivable                                 
|                                                                              
|Profit
            before taxation                                            
|Taxation
            on profit on ordinary activities                         
|                                                                              
|Profit
            after taxation                                             
|Equity
            minority interests                                         
|                                                                              
|Profit
            attributable to ordinary shareholders                      
|                                                                              
|Tax
            rate on profit before amortisation                            
|                                                                              
|Basic
            earnings per ordinary share                                 
|                                                                              
|Earnings
            per ADS (US$ rate used = $1.45)                          
|Dividend
            per ordinary share                                       
|                                                                              
|Number
            of ordinary shares ranking for dividend (millions)         
|                                                                              
|*
            Restated following adoption of FRS 19 (see note
            24).

|ELEVEN
            YEAR CONSOLIDATED FINANCIAL SUMMARY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|For
            the year ended 31 December                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Results                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Net
            interest (payable)/receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Profit
            before tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Taxation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Profit
            attributable to ordinary shareholders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Net
            assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Fixed
            assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Net
            current (liabilities)/assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Long-term
            creditors                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Provisions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Tangible
            fixed assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Additions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Development
            expenditure                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Free
            cash flow                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Ratios                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Earnings
            per ordinary share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|Adjusted
            earnings per ordinary share1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Dividends
            per ordinary share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Cash
            flow per ordinary share2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Book
            value per ordinary share3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|Cash
            flow/book value4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Profit
            before tax as a percentage of revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Return
            on tangible fixed assets5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Return
            on equity6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|UK
            corporation tax rate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Infrastructure                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Shares
            issued (millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Employees                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|User
            accesses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|Notes:
            1999 and 2000 have been restated following adoption of FRS 19 in 2001.
            1997 and 1998 have been restated to reflect changes in reporting user
            accesses in 1999.
            1995 and 1996 have been restated to reflect the effect of FRS 10 issued
            in 1997 which required purchased goodwill and other intangibles to
            be capitalised and amortised through the profit and loss account.
            1991 to 1993 have been restated for the subdivision of every ordinary
            share of 10 pence each into four new ordinary shares of 2.5 pence
            each in April 1994.
            1991 to 1994 fixed assets have been restated to reflect the effect
            of UITF abstract 13 issued in 1995.
            Free cash flow is defined as net cash inflow from operating activities
            plus net interest received less tax paid and expenditure on tangible
            fixed assets.

|       
|-------
|Ratios:
|       
|1.     
|2.     
|3.     
|4.     
|5.     
|6.     

|CROSS REFERENCE
              GUIDE TO FORM 20-F
            The information
              in this document that is referenced in the following table, constitutes
              Reuters annual report on Form 20-F for the year 2001 and shall be
              deemed to be filed with the Securities and Exchange Commission for
              all purposes. No other information is included in the 2001 Form
              20-F.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Item                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|1                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|2                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|3                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|4                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|5                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|6                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|7                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|8                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|9                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|10                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|11                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|12                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|13                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|14                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|17                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|18                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                     

|GLOSSARY                                                                   |  |                                                                                                                                      
|-------------------------------------------------------------------------- |  | -------------------------------------------------------------------------------------------------------------------------------------
|                                                                           |  |                                                                                                                                      
|TERM
            USED IN ANNUAL REPORT                                     |  | US
            EQUIVALENT OR BRIEF DESCRIPTION                                                                                       
|                                                                          
|Allotted                                                                   |  | Issued                                                                                                                               
|                                                                          
|Associated
            undertakings                                        |  | Affiliates
            accounted for under the equity method                                                                         
|                                                                          
|Called-up
            share capital                                        |  | Ordinary
            shares, issued and fully paid                                                                                   
|                                                                          
|Capital
            allowances                                             |  | Tax
            term equivalent to US tax depreciation allowances                                                                    
|                                                                          
|Cash
            at bank and in hand                                       |  | Cash                                                                                                                                 
|                                                                          
|Class
            of business                                              |  | Industry
            segment                                                                                                         
|                                                                          
|Combined
            Code of practice                                      |  | A
            set of corporate governance principles and detailed codes of practice                                                  
|                                                                          
|Creditors                                                                  |  | Accounts
            payable                                                                                                         
|                                                                          
|Creditors:
            Amounts falling due after more than one year        |  | Long-term
            debt                                                                                                           
|                                                                          
|Creditors:
            Amounts falling due within one year                 |  | Current
            liabilities                                                                                                      
|                                                                          
|Debtors                                                                    |  | Accounts
            receivable                                                                                                      
|                                                                          
|Destination
            (of revenue)                                       |  | The
            geographical area to which goods or services are supplied                                                            
|                                                                          
|Freehold                                                                   |  | Ownership
            with absolute rights in perpetuity                                                                             
|                                                                          
|Interest
            receivable                                            |  | Interest
            income                                                                                                          
|                                                                          
|Origin
            (of revenue)                                            |  | The
            geographical area from which goods or services are supplied to a third
            party or another geographical area
|                                                                          
|Profit                                                                     |  | Income                                                                                                                               
|                                                                          
|Profit
            and loss account (statement)                            |  | Income
            statement                                                                                                         
|                                                                          
|Profit
            and loss account reserve (under 'capital and reserves') |  | Retained
            earnings                                                                                                        
|                                                                          
|Profit
            attributable to ordinary shareholders                   |  | Net
            income                                                                                                               
|                                                                          
|Proposed
            dividend                                              |  | Dividend
            declared by directors but not yet approved by shareholders                                                      
|                                                                          
|Share
            capital                                                  |  | Ordinary
            shares, capital stock or common stock issued and fully paid                                                     
|                                                                          
|Share
            premium account                                          |  | Additional
            paid-in capital or paid-in surplus (not distributable)                                                        
|                                                                          
|Shares
            in issue                                                |  | Shares
            outstanding                                                                                                       
|                                                                          
|Stocks                                                                     |  | Inventories                                                                                                                          
|                                                                          
|Tangible
            fixed assets                                          |  | Property
            and equipment                                                                                                   
|                                                                          

|
|
|
|

|FINANCIAL DIARY FOR 2002
|------------------------

|Tuesday
            12 February    |  | Results
            for year 2001 announced                                                                                                                              
|---------------------------------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                  
|Wednesday
            13 March     |  | Annual
            report posted to shareholders                                                                                                                         
|                                  
|Wednesday
            13 March     |  | Ordinary
            shares go ex-dividend                                                                                                                               
|                                  
|Wednesday
            13 March     |  | ADSs
            go ex-dividend                                                                                                                                          
|                                  
|Monday
            22 April        |  | First
            quarter trading statement issued                                                                                                                       
|                                  
|Tuesday
            23 April       |  | Annual
            general meeting 
            Time: 11:30 am
            Venue: The Congress Centre, 
            28 Great Russell Street, 
            London WC1B 3LS
|                                  
|Thursday
            25 April      |  | Final
            dividend for 2001 payable to ordinary shareholders on the register
            as at 15 March 2002                                                     
|                                  
|Thursday
            2 May         |  | Final
            dividend payable to ADS holders on the record as at 15 March 2002                                                                                      
|                                  
|Tuesday
            23 July        |  | Results
            for first six months of 2002 announced                                                                                                               
|                                  
|Wednesday
            31 July      |  | Ordinary
            shares go ex-dividend                                                                                                                               
|                                  
|Wednesday
            31 July      |  | ADSs
            go ex-dividend                                                                                                                                          
|                                  
|Wednesday
            4 September  |  | Interim
            dividend for 2002 payable to ordinary shareholders on the register
            as at 2 August 2002                                                   
|                                  
|Wednesday
            11 September |  | Interim
            dividend payable to ADS holders on the record as at 2 August 2002                                                                                    
|                                  
|Wednesday
            16 October   |  | Third
            quarter trading statement issued                                                                                                                       
|                                  

|
|
|
|

|WHERE TO FIND US
|----------------

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Corporate
              headquarters85
              Fleet StreetLondon
              EC4P 4AJTel:
              44 (0) 20 7250 1122Registered
              in England No: 3296375
            Investor
              queriesMiriam McKay 
              London
              Tel: 44 (0) 20 7542 7051 
              Fax: 44 (0) 20 7542 4064 
              e-mail: miriam.mckay@reuters.com
            Nancy
              Bobrowitz 
              New York 
              Tel: 1 646 223 5220 
              Fax: 1 646 223 5238 
              e-mail: nancy.bobrowitz@reuters.com
            Media
              queriesPeter V Thomas 
              London
              Tel: 44 (0) 20 7542 4890 
              Fax: 44 (0) 20 7542 5458 
              e-mail: peter.v.thomas@reuters.com
            Nancy
              Bobrowitz 
              New York 
              Tel: 1 646 223 5220 
              Fax: 1 646 223 5238 
              e-mail: nancy.bobrowitz@reuters.com |  | Registrar/Depositary:For
              dividend queries, duplicate mailings and address changes
            
            Ordinary
              sharesLloyds
              TSB RegistrarsThe
              CausewayWorthingWest
              Sussex BN99 6DAUKTel:
              44 (0) 870 601 5366Fax:
              44 (0) 870 900 0020
            American
              Depositary SharesJPMorgan
              Chase Bank 
              JPMorgan
              Service Center 
              PO
              Box 43013 
              Providence
              RI 02940-3013 
              USA
              Tel:
              1 781 575 4328Fax:
              1 781 575 4088
            ListingsLondon
              Stock Exchange and Nasdaq (American Depositary Share Symbol RTRSY)
            Options
              on ordinary shares are traded on the London Traded Options Market.
              The American Stock Exchange in New York and the Chicago Board Options
              Exchange list options on American Depositary Shares of Reuters.
            Form
              20-FThis document is filed with the SEC and corresponds to the Form
              10-K filed by US-based companies. Hard copies are available from
              the Investor Relations departments in London and New York. Electronic
              copies can be accessed through the internet on Reuters internet
              page (www.reuters.com) or from
              the SEC's EDGAR Database via the SEC's home page (www.sec.gov).
            DOCUMENTS
              ON DISPLAY
              Documents referred to in this report are filed in the US with the
              SEC and can be read and copied at the SEC's public reference room
              located at 450 Fifth Street, NW Washington, DC 20549. Information
              on the operation of the public reference room can be obtained in
              the US by calling the SEC at 1-800-SEC-0330. Reuters Group public
              filings with the SEC are also available on the website maintained
              by the SEC at www.sec.gov.

|SIGNATURES


The
registrant hereby certifies that it meets all of the requirements for filing on
Form 20-F and that it has duly caused and authorized the undersigned to sign
this annual report on its behalf.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                      | REUTERS GROUP PLC       
       (Registrant)                                          
|--------------------- | -------------------------------------------------------------------------------------------------------
|                     
|Dated: March 13, 2002 | By  /s/ David J. Grigson
       
       David J. Grigson       Chief Financial Officer

|
|

|Item 19. | Exhibits
|-------- | --------
|        
|1        | .1      
|        
|2        | .1      
|        
|4        | .1      
|        
|4        | .2      
|        
|4        | .3      
|        
|4        | .4      
|        
|4        | .5      
|        
|4        | .6      
|        
|4        | .7      
|        
|8        | .1      
|        
|10       | .1