Ad Industry Consortium Launches Company to Create Media Transactional Platform.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 19, 2001

Today The Interpublic Group of Companies Inc., Omnicom Group Inc. and WPP Group plc announced the formation of a new company that will create an electronic platform to improve the flow of data and information related to the transaction of media time and space.

The company's primary focus will be to connect media buyers, sellers and information providers through a platform that provides common protocols. The platform will act as a service through which data and information providers can be easily accessed, replacing the fractured and labor-intensive process in which media data is exchanged today.

In a joint statement, Interpublic Chairman John Dooner, Omnicom Chairman John Wren and WPP Group Chief Executive Sir Martin Sorrell said: "Interpublic, Omnicom and WPP believe that technology presents a great opportunity to create a platform from which the billions of dollars now spent on media every week can be transacted much more effectively and cost efficiently. We expect that the platform will both improve service and cost-efficiency to our clients and simultaneously benefit media sellers."

The new company will be based in New York City. Michael Lotito will serve as chief executive officer. Lotito was formerly president/chief operating officer at Initiative Media North America. Interpublic, Omnicom and WPP expect to formally launch the new company in the second quarter of this year. Other advertising/marketing companies will be invited to join the venture.

About IPG 

The Interpublic Group of Companies (NYSE:IPG), is one of the largest global organizations of advertising agencies and marketing communications companies. Its major worldwide companies include McCann-Erickson World Group, The Lowe Group, Draft Worldwide, Initiative Media Worldwide, Octagon, NFO Worldwide and the Allied Communications Group. It reported revenue of $5.6 billion in 2000.

About Omnicom

Omnicom Group (NYSE:OMC) (www.omnicomgroup.com), one of the world's leading marketing communications companies, consists of advertising agency networks BBDO Worldwide, DDB Worldwide and TBWA. The group also includes Goodby, Silverstein & Partners; Diversified Agency Services (DAS), which operates a number of leading, independently branded companies in the marketing services and specialty communications; Omnicom Media Group, which includes two leading international media buying and planning agencies, OMD and PhD; and Communicade, which manages investments in Internet and digital media development companies.

About WPP

WPP (Nasdaq:WPPGY) is one of the world's leading communications services groups, providing national, multinational and global clients with advertising; media investment management; information and consultancy; public relations and public affairs; branding and identity, health-care and specialist communications. WPP's worldwide companies include J. Walter Thompson, Ogilvy, Young & Rubicam, Red Cell, MindShare, The Media Edge, Millward Brown, Research International and Kantar Media Research, among others. The Group reported revenues of $6.6 billion in 2000 with capitalised billings of $56 billion in 1999 (according to Ad Age). Collectively, WPP employs 65,000 people in 1,300 offices in 102 countries.