Wolters Kluwer reorganizes in a number of European countries

With reference to the press release issued earlier today by Wolters Kluwer Nederland bv (www. volters-kluwer.nl/perskamer.html) on the planned regrouping of its professional publishing activities, Wolters Kluwer nv announces that reorganizations also will take place in a number of other European countries.

In addition to cost-saving measures, these reorganizations will entail structuring the organization to improve organic growth.

Detailed announcements are not yet possible, partly due to the need for consultation with the relevant parties.

The reorganization costs associated with these plans will be charged to the year 2000 operating results (EBITA). Based on estimates of these costs, including those of Wolters Kluwer Nederland bv, Wolters Kluwer nv expects that the ordinary net income (before goodwill amortization and extra-ordinaries) will be about equal to the level realized in 1999, around EUR 410 million. As soon as the various reorganizations have been agreed upon in detail, further announcements will be made.
 


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Patrick Hendriks
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Annie Hull-Bom
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