Press Release


Interpublic Announces Pricing of its Tender Offer for $250,000,000 of its 7.875% Senior Unsecured Notes Due 2005

December 9, 2004 at 5:47 PM EST

NEW YORK--(BUSINESS WIRE)--Dec. 9, 2004--The Interpublic Group of Companies, Inc. (NYSE: IPG) today announced the tender offer consideration for its tender offer for up to $250,000,000 of its 7.875% Senior Unsecured Notes due 2005 (CUSIP No. 460690AK6). The tender offer expires at midnight, New York City time, on December 13, 2004.

Interpublic will pay the tender offer consideration and accrued and unpaid interest from the last interest payment date to, but not including, the settlement date, for the notes accepted pursuant to the tender offer. In addition, for those notes that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time November 29, 2004, Interpublic will pay an early tender premium of $10 per $1,000 principal amount of notes accepted pursuant to the tender offer.

As Interpublic has been informed by the depositary that the tender offer is oversubscribed, Interpublic will accept the notes on a pro rata basis. Interpublic expects to pay for the accepted notes on December 14, 2004.

The table below sets forth the relevant pricing information for the notes:

                                                   Tender Offer
Reference                                           Per $1000
  U.S.      Bloomberg             Actual    Tender  Principal    Early
Treasury    Reference    Fixed   Reference   Offer  Amount of   Tender
Security      Page       Spread   Yield      Yield    Notes    Premium
--------     -------     ------   ------     -----   ------    -------

 1.625%        PX3       0.50%    2.563%    3.063%  $1,039.36    $10
note due
October 31,

The tender offer consideration was calculated by the dealer managers in the manner described in the offer to purchase at 2:00 p.m., New York City time, on December 9, 2004.

Interpublic has retained Citigroup Global Capital Markets Inc., J.P. Morgan Securities Inc. and UBS Securities LLC to serve as dealer managers for the tender offer, and Global Bondholder Service Corporation to serve as the information agent and the depositary.

Copies of the offer to purchase and related documents may be obtained at no charge by contacting the information agent and depositary by telephone at (866) 470-4300 (toll-free) or (212) 430-3774, or in writing at 65 Broadway - Suite 704, New York, NY 10006. These documents contain important information, and holders should read them carefully before making any investment decision.

Questions regarding the tender offer may be directed to: Citigroup Global Markets Inc. at (800) 558-3745 (toll-free), J.P. Morgan Securities Inc. at (866) 834-4666 (toll-free) and UBS Securities LLC at (888) 722-9555 ext. 4210 (toll-free).

This announcement does not constitute an offer to purchase or a solicitation of an offer to sell securities. The tender offer is being made solely by the offer to purchase. In any jurisdiction where the laws require tender offers to be made by a licensed broker or dealer, the tender offer will be deemed to be made on behalf of Interpublic by the dealer managers, or one or more registered broker dealers under the laws of such jurisdiction.

About Interpublic

Interpublic is one of the world's leading organizations of advertising agencies and marketing-services companies. Major global brands include Draft, Foote, Cone & Belding Worldwide, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe & Partners Worldwide, McCann Erickson, Octagon, Universal McCann and Weber Shandwick Worldwide. Leading domestic brands include Campbell-Ewald, Deutsch and Hill Holliday.

CONTACT: The Interpublic Group of Companies, Inc.
General Inquiries:
Julie Tu, 212-827-3776
Media, Analysts, Investors:
Philippe Krakowsky, 212-704-1328
Analysts, Investors:
Jerry Leshne, 212-704-1439

SOURCE: The Interpublic Group of Companies, Inc.