Reuters Group PLC

RE: REUTERS GROUP
    CHF 50,000,000.00
    MATURING: 03-May-2005
    ISSUE DATE: 03-May-2002
    ISIN: XS0146593313

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 03-Nov-2003 TO
03-Feb-2004 HAS BEEN FIXED AT 0.330000 PCT.

INTEREST PAYABLE VALUE 03-Feb-2004 WILL AMOUNT TO CHF 84.33 PER CHF 
100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON TEL: 
44 020 7508 3858/3855 OR FAX: 44 020 7508 3881.