Preliminary Results Financial Highlights David Grigson C HIEF F INANCIAL O FFICER 12 February 2002

Financial Headlines Revenue up 8% to £3.9bnRevenue up 8% to £3.9bn Strong operating performance - underlying divisional operating profit up 7%Strong operating performance - underlying divisional operating profit up 7% Normalised PBT of £304m reflecting investment in business transformation, restructuring and joint venturesNormalised PBT of £304m reflecting investment in business transformation, restructuring and joint ventures Write-down of non-core investmentsWrite-down of non-core investments Strong operating cash flowStrong operating cash flow £185m of cost savings to be delivered in 2002£185m of cost savings to be delivered in 2002

8%6% (19%) (34%) (76%) 3, (164) (99) 383 (70) (9) 304 (93) (53) 1583, (139) (16) (71) Growth £m£m Reuters Group Year to 31 December Revenue Op profit- divisions - business transformation - other restructuring Normalised op profit JVs, Assocs & Invest inc Net interest Normalised PBT Amortisation Net (losses) / gains on investments Reported PBT

Joint Ventures, Associates and Investment Income Year to 31 December Share of Profit / (Loss) £m£m Share of Profit / (Loss) £m£m Factiva Radianz TIBCO Software Atriax Sila Multex Capco / ICor Others / Investment Income Total 5 (27) (17) (10) (8) (6) (4) (3) (70) (1) (9) 2 - (7) (4) - 3 (16)

£m£m Instinet IPO TSI follow-on Greenhouse Fund Reuters Investments Instinet Investments Net (losses) / gains on investments 200- (145) (95) (13) (53) Gains/Losses on Investments Year to 31 December

ReutersInstinetReuters Group £m£m£m Revenue Op profit- divisions - business transformation - other restructuring Normalised op. profit JVs, Assocs & Invest inc Net interest Normalised PBT Normalised op. margin Normalised tax rate Normalised EPS Dividend per share *Intra-group revenue of £11m 3, (164) (82) 222 (70) (24) 1287%25%6.8p10p (17) %43%6.8p- 3,885* 646 (164) (99) 383 (70) (9) 30410%35%13.6p10p Reuters/Instinet Split Year to 31 December

Cash Flow Movement Normalised operating profit Depreciation Capex Working capital Operating cash flow Cash conversion Acquisitions / (disposals) Dividends / Taxation Other Movement Net (debt) / cash ReutersInstinetReuters Group £m£m£m (193) % (207) (334) 13 (266) (702) (83) (66) (3) (276) (43) (400)

% numbers show underlying growth rates Reuters - Revenue by Quarter £m 7% 4%4% (1%)

Reuters Financial Year to 31 December RevenueRI1,8361,7375% RTS % Bridge73- - RF 2,7872,5594% RF divisional profit % RF divisional margin19%20% Underlying £m£mGrowth

Revenue %(2%) Operating loss (60)(67) Growth £m £m Overall Underlying Reuterspace Year to 31 December Full year losses £3m better than targetFull year losses £3m better than target Now fully integrated into Corporates & MediaNow fully integrated into Corporates & Media Losses expected to reduce to below £15m in 2002Losses expected to reduce to below £15m in 2002

Instinet Year to 31 December Growth £m £m Overall Underlying Revenue %0% Operating profit %4% Operating margin 21%20% Year of considerable structural changeYear of considerable structural change Aggressive price and cost reductionsAggressive price and cost reductions New products being rolled outNew products being rolled out Market share gains in January `02Market share gains in January `02

Business Transformation & Other Restructuring - Reuters £m £139 Other restructuring costsBusiness Transformation costsCost savings £15 £ £65 £75 £185 £235

2001 Margin2002 Margin including Bridge New product investment 7% 12% Revenue decline / cost inflation Bridge integration +7% -1% +4% -2% -3% BT, Restructuring & Bridge Cost savings 20% 15% 10% 5% 0% 2002 Margin excluding Bridge 14% Margin Growth in 2002

Summary Achieved a resilient operating performance in a difficult trading environmentAchieved a resilient operating performance in a difficult trading environment Delivering on Business Transformation and Phase I of growth plan by leveraging global scaleDelivering on Business Transformation and Phase I of growth plan by leveraging global scale Completing transition to new organisation structureCompleting transition to new organisation structure Tightening management disciplines to unlock profit potentialTightening management disciplines to unlock profit potential