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INTERPUBLIC GROUP REPORTS RESULTS FOR YEAR AND FOURTH QUARTER 1992

 NEW YORK, Feb. 16 /PRNewswire/ -- Philip H. Geier Jr., chairman of the board and chief executive officer, reported today that The Interpublic Group of Companies, Inc. (NYSE: IPG), had net income of $111,913,000 before the effect of adopting FAS 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," for the year ending Dec. 31, 1992, an increase of more than 18 percent from $94,557,000 in 1991. Earnings per share before the adoption of FAS 106 increased more than 15 percent to $1.50 from $1.30 in 1991. The effect of adopting FAS 106 was $24,640,000, reducing net income to $87,273,000 or $1.17 per share. Gross income increased approximately 11 percent to $1,855,971,000 from $1,677,498,000 in 1991.
 Interpublic's agency systems have achieved net new business during the year 1992 of approximately $828 million of billings, surpassing the record gains of $806 million achieved during 1991. This is an indication of continued solid growth in a tough global environment.
 Net income for the fourth quarter of 1992 increased 15 percent to $46,597,000, as compared to $40,526,000 during the same period in 1991. Earnings per share increased almost 13 percent to $.62 from $.55 in 1991. Gross income increased to $534,137,000 from $523,188,000 during the same period in 1991.
 The per share results for 1991 have been restated to reflect the two-for-one stock split in June of 1992.
 Gross income from U.S. operations increased slightly in the fourth quarter and 8 percent for the full year as compared to 1991. Gross income from operations outside the United States increased 3 percent in the fourth quarter of 1992 and 12 percent for the full year 1992 over the comparable period of 1991.
 Continuing cost containment efforts kept costs at appropriate levels. Mr. Geier noted that the company's financial condition continues to be excellent, with a strong balance sheet and a solid cash position.
 The Interpublic Group of Companies, Inc., adopted Statement of Financial Accounting Standards No. 106 (Statement 106) -- "Employers' Accounting for Postretirement Benefits Other Than Pensions" in the fourth quarter of 1992, effective Jan. 1, 1992, and recorded a one-time after-tax charge of $24.6 million. This one-time charge represents approximately 4.8 percent of the company's equity, and is not considered material to net worth. Statement 106 requires companies to record a liability for employees' accumulated postretirement benefit costs during the employees' period of service. Interpublic currently provides postretirement benefits to employees hired prior to Jan. 1, 1988. The adoption of this statement is not expected to have a material adverse impact on future results of operations or cash flow.
 The Interpublic Group of Companies is comprised of McCann-Erickson Worldwide, Lintas:Worldwide, Dailey & Associates, The Lowe Group and other related companies.
 The shares of The Interpublic Group of Companies, Inc., are listed on the New York Stock Exchange.
 THE INTERPUBLIC GROUP OF COMPANIES, INC. AND ITS SUBSIDIARIES
 Consolidated Summary of Earnings
 (Unaudited, dollars in thousands except per share data)
 Year ended Dec. 31 1992 1991 Pct. Favorable
 (Unfavorable)
 Gross income:
 Domestic $ 563,672 $ 522,833 7.8
 International 1,292,299 1,154,665 11.9
 Total gross income 1,855,971 1,677,498 10.6
 Costs and expenses 1,615,592 1,458,716 (10.8)
 Interest expense 33,221 33,499 91,335 87,
684 (4.2)
 Net equity interests (3,910) (3,042) (28.5)
 Net income before effect
 of accounting change (B) 111,913 $ 94,557 18.4
 Effect of accounting change 24,640 -- --
 Net income after effect of
 accounting change $ 87,273 -- --
 Earnings per common and
 common equivalent share:
 Before effect of accounting
 change $1.50 $1.30 15.4
 Effect of accounting change (.33) -- --
 After effect of accounting
 change $1.17 $1.30 (10.0)
 Average number of shares 74,974,618 72,860,086
 Cash dividends per share $.45 $.41 9.8
 Fourth quarter 1992 1991 Pct. Favorable
 (Unfavorable)
 Gross income:
 Domestic $151,891 $151,435 .3
 International 382,246 371,753 2.8
 Total gross income 534,137 523,188 2.1
 Costs and expenses 448,188 437,343 (2.5)
 Interest expense 8,735 9,206 5.1
 Income before provision
 for income taxes 77,214 76,639 .8
 Provision for inc. taxes (A) 29,705 34,876 14.8
 Net equity interests (912) (1,237) 26.3
 Net income (B) $ 46,597 $ 40,526 15.0
 Earnings per common and
 common equivalent share $.62 $.55 12.7
 Cash dividends per share $.115 $.105 9.5
 (A) -- Effective tax rate for the full year is 44.1 percent for 1992 and 47.3 percent for 1991; fourth quarter 1992 is 38.5 percent, and 1991 is 45.5 percent.
 (B) -- Includes net losses from exchange and translation of foreign currencies for 1992 and 1991, respectively, of $4,638,000 and $6,436,000 for the year and $2,219,000 and $4,154,000 for the fourth quarter.
 -0- 2/16/93
 /CONTACT: Eugene P. Beard, 212-399-8053, or William S. Keating, 212-399-8078, both of Interpublic/
 (IPG)


CO: The Interpublic Group of Companies, Inc. ST: New York IN: ADV SU: ERN

GK-TS -- NY026 -- 6769 02/16/93 09:45 EST
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Date:Feb 16, 1993
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