REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

Notes on the consolidated balance sheet continued30. Related party transactionsDuring the year, Reuters carried out a number of transactions with related parties in the normal course of business and on an arm’s length basis. Details of thesetransactions are shown below:31 DECEMBER AMOUNTS AMOUNTS 31 DECEMBER1998 INVOICED COLLECTED/PAID 1999£M £M £M £MAmounts receivableFactiva joint venture – 24 (11) 13Associated undertakings – 6 (6) –– 30 (17) 13Amounts payableFactiva joint venture – (32) 19 (13)Associated undertakings – (12) 9 (3)– (44) 28 (16)The above related party transactions relate to the rendering or receiving of services between both parties including agency arrangements and licence agreements.In addition to the above amounts, Reuters has a promissory note payable to Factiva with a balance of £11 million outstanding at the year end.Reuters is deemed to be related to various companies through common directorships. During 1999 the amounts invoiced to these companies by Reuters totalled£57 million with £2 million being invoiced by them.31. Operating leasesMinimum payments for non-cancellable operating leases for terms in excess of one year from 31 December are as follows:1999 1998 1997£M £M £MYear ended 31 December1998 – – 621999 – 70 602000 79 64 512001 72 61 452002 64 54 382003 55 46 302004 45 38 25Thereafter 302 257 94Total minimum lease payments 617 590 405At 31 December Reuters had commitments to make payments during the following year under non-cancellable operating leases as follows:LAND AND BUILDINGSOTHER1999 1998 1997 1999 1998 1997£M £M £M £M £M £MOperating leases which expire:Within one year 7 7 5 1 1 1In the second to fifth years 41 36 26 9 8 8Over five years 29 26 28 – – –68 Reuters Group PLC Annual Report 1999