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BBDO Worldwide Acquires Additional 29% Ownership in Gitam/BBDO; Global Agency Now Owns 49% of Israel's Largest Agency

NEW YORK, Sept. 30 /PRNewswire/ -- BBDO Worldwide today announced its purchase of an additional 29 percent ownership in Gitam/BBDO, Tel Aviv, Israel's largest advertising and public relations agency, with billings of $75 million. The transaction raises BBDO's ownership in Gitam/BBDO to 49 percent.

This marks another stop in BBDO's activities in Israel, following December 1994 when BBDO purchased a 20 percent stake in the Israeli agency and became the first international advertising group to invest in an Israeli agency.

"Over the last few years, Gitam/BBDO has accomplished professional and creative achievements that position them in line with the world's leading advertising agencies. This is equally true in public relations through Gitam Porter Novelli," said Allen Rosenshine, BBDO Worldwide Chairman and CEO. "The globalization process creates unique professional opportunities in the field of marketing and advertising. And Gitam/BBDO's business performance during the last three years proves that this is an exceptionally beneficial partnership for both our global and Israeli clients."

"Today symbolizes another significant development for the Israeli advertising industry," said Moshe Theumim, Chairman and CEO of Gitam/BBDO and Gitam Potter Novelli. "We account much of our professional success in recent years to our being part of BBDO, which has won more international awards over the last eight years than any other advertising agency in the world: Cannes Festival, London International Advertising Festival, Andy Award, Clio Award, and this year, the agency was given the title of the most creative agency in the world by industry magazine, Advertising Age International. BBD0, which has won similar titles in Europe, Australia and other parts of the world, has taken the lead in professional and creative standards in the advertising industry. And we, as the Israeli representative, are committed to keeping these standards."

Gitam/BBDO, which was established in 1979, is the largest advertising agency in Israel, and includes Israel's leading public relations agency, Gitam Porter Novelli and Gitam Advertising in South Africa.

Gitam/BBDO is the first IMC (Integrated Marketing Communications) agency in Israel and offers its clients consultancy services, marketing and communications strategies, research, advertising and public relations.

Gitam/BBDO's clients include: C.A.L-VISA; Dentalon (Oral-B); Hypercol/Supercol Supermarkets; Keler Plastic; Maccabi Beer; Pizza Hut; Tempo- Pepsi; Tnuva Dairy Products and Wm. Wrigley, Jr., as well as the Israel Bank Association; Israel Cancer Association; Israel Hotel Association; Israel Medical Association and the United Jewish Appeal.

BBDO Worldwide, with billings in excess of $8.4 billion in 1996, ranks as the fourth largest global agency brand with 245 offices in 72 countries. The agency was honored at the 1997 Cannes International Advertising Festival as "Worldwide Agency of the Year," the first U.S. headquartered agency to receive the honor. BBDO is owned by Omnicom Group (NYSE: OMC).

SOURCE BBDO Worldwide
 -0- 09/30/97


/CONTACT: Owen Dougherty of BBDO New York, 212-459-5804/

(OMC)

CO: BBDO Worldwide; Gitam/BBDO; Omnicom Group ST: New York IN: ADV SU: TNM

CH-WS -- NYTU146 -- 8578 09/30/97 14:01 EDT http://www.prnewswire.com
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Publication:PR Newswire
Date:Sep 30, 1997
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