Reuters Q1 Recurring Revenue Decline of 9% or Slightly Better

London - Reuters reports today that subscriber cancellations in the fourth quarter of 2003 showed an improvement over the previous quarter, extending the trend seen in the first three quarters of 2003. As a result, Reuters expects that the decline in recurring revenue in the first quarter of 2004 will be 9% or slightly better on an underlying basis compared to the equivalent quarter last year.

Tom Glocer, Reuters Group Chief Executive, said: "I am confident that we have now passed the inflection point in our recurring revenue decline. While we still expect the recovery in recurring revenue to be gradual, we are looking forward to working with our customers to build on this improving trend."

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