: notes to the accounts :

31. Post balance sheet events

On 26 January 2000 Pearson placed 11,500,000 ordinary shares to raise approximately £250m, after expenses, to fund its existing and new internet related businesses and on 1 February 2000 Pearson issued e650,000,000 Bonds due 2007, the proceeds of which were used to repay existing bank debt.

On 15 February 2000 Pearson increased its economic interest in Channel 5 Television Group Ltd, the UK terrestrial broadcaster, from 24% to 29.25% at a cost of £51m.

On 29 February 2000 the merger of Pearson's asset valuation business with the Data Broadcasting Corporation, announced in November 1999, was completed.

On 3 March 2000 the sale of Pearson’s interests in the three Lazard houses, announced in June 1999, was completed with proceeds totaling £436m.