Press Release

New York, February 22, 1999 (NYSE:IPG) -- Philip H. Geier, Jr., Chairman of the Board and Chief Executive Officer, reported that The Interpublic Group of Companies, Inc. had net income of $309.9 million for the year ended December 31, 1998, an increase of 54.7% over the prior year's restated net income of $200.4 million.

On a diluted basis, earnings per share for the year ended 1998 were $2.21, an increase of 48.3% over the restated prior year diluted earnings per share.

Gross income for the full year of 1998 was approximately $4.0 billion, an increase of $486.3 million or 14.0% over the 1997 restated gross income. Included in 1998 and 1997 gross income are net gains from equity investments. Gross income would have increased 16.7% except for the strengthening of the U.S. dollar against major currencies.

Net income for the fourth quarter of 1998 was $106.7 million, an increase of $63.1 million or 144.7% over the net income for the comparable restated period of 1997. On a diluted basis, earnings per share were $.76, an increase of 137.5% over the prior year's comparable restated earnings per share. Gross income for the fourth quarter of 1998 was $1.2 billion, a 10.2% increase over the restated gross income for the fourth quarter of 1997. Gross income would have increased 12.8% except for the strengthening of the U.S. dollar against major currencies.

Please note that all prior period figures have been restated to incorporate the aggregate effect of all 1998 pooled companies in addition to all prior pooled entities.

Interpublic's agency systems gained net new business during 1998 of approximately $1.5 billion, an increase of $255.4 million or 21% over the net new business gains of 1997. During the fourth quarter of 1998, Interpublic's agency systems gained net new business of approximately $253 million compared with the fourth quarter of 1997 net new business gain of $109 million, an increase of 132%.

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 is comprised of McCann-Erickson WorldGroup, Ammirati Puris Lintas, The Lowe Group, DraftWorldwide, Western Initiative Media Worldwidea, Allied Communications Group, Octagon, International Public Relations, and other related companies.

The shares of The Interpublic Group of Companies, Inc. are listed on the New York Stock Exchange (IPG); more information about Interpublic is available on the Company's Web site at www.interpublic.com.

CONTACT:

Eugene P.Beard 212/399-8053 Thomas Volpe 212/399-8056

THE INTERPUBLIC GROUP OF COMPANIES, INC. AND ITS SUBSIDIARIES
Consolidated Summary of Earnings Twelve Months And Fourth Quarter Report 1998 And 1997 (Dollars in Thousands Except Per Share Data)
			%
	Twelve Months Ended December 31		Favorable
	1998	1997	(Unfavorable)
Gross Income:
United States	$1,983,665	$1,748,104	13.5
International	$1,985,063	$1,734,280	14.5
Total Gross Income	$3,968,728	$3,482,384	14.0
Costs and Expenses	$3,347,158	$3,020,761	(10.8)
Interest Expense	$58,699	$57,793	(1.6)
Income Before   Provision for   Income Taxes	$562,871	$403,830	39.4
Provision for   Income Taxes	$232,005	$186,246	(24.6)
Net Equity Interests (a)	$(20,961)	$(17,206)	(21.8)
Net Income	$309,905	$200,378	54.7
Per Share Data:
Basic EPS	$2.29	$1.54	48.7
Diluted EPS (b)	$2.21	$1.49	48.3
Dividend   per-share	$.58	$.50
Weighted  Average Shares   Basic	135,485,326	130,249,946
Diluted	140,525,272	138,809,532
			%
	Fourth Quarter		% Favorable
	1998	1997	(Unfavorable)
Gross Income:
United States	$562,599	$538,049	4.6
International	$632,174	$545,800	15.8
Total Gross Income	$1,194,773	$1,083,849	10.2
Costs and Expenses	$981,730	$945,908	(3.8)
Interest Expense	$15,305	$16,307	6.2
Income Before   Provision for   Income Taxes	$197,738	$121,634	62.6
Provision for   Income Taxes	$81,238	$69,575	(16.8)
Net Equity Interests (a)	$(9,833)	$(8,473)	(16.1)
Net Income	$106,667	$43,586	144.7
Per Share Data:
Basic EPS	$.79	$.33	139.4
Diluted EPS (b)	$.76	$.32	137.5
Dividend   per-share	$.15	$.13
Weighted  Average Shares   Basic	135,578,003	131,646,705
Diluted	143,845,195	136,385,441
Note: All prior period figures have been restated to incorporate the aggregate effect of all 1998 pooled companies in addition to all prior pooled entities. (a) Net equity interests is the net of equity in income of unconsolidated affiliates less income attributable to minority interests of consolidated subsidiaries. (b) Includes the addback of restricted stock dividends in 1998 and 1997 and interest on convertible subordinated debentures in 1997 year to date and 1998 fourth quarter.