Press Release

New York, October 27, 1998 (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 for the third quarter of 1998 of $45.2 million, an increase of 45.3% over the restated net income for the third quarter of 1997 of $31.1 million. The basic earnings per share increased 41.7% to $.34 from $.24 for the comparable restated period of 1997. On a diluted basis, earnings per share for the third quarter of 1998 was $.33, an increase of 37.5% over the restated third quarter of 1997. The impact of foreign currency was negligible in the third quarter.

Gross income for the third quarter of 1998 was $861.4 million, an increase of 17.5% over restated 1997. Gross income from United States operations increased 17.0%. Gross income from international operations increased 18.1%.

Net income for the nine months of 1998 was $197.4 million, an increase of 28.4% over the restated net income for 1997. The basic earnings per share increased 23.1% to $1.49 from $1.21 for the comparable restated period of 1997. On a diluted basis, earnings per share was $1.44 versus $1.17 in 1997, an increase of 23.1%.

Gross income for the first nine months of 1998 was $2,609 million, an increase of 16.6% from the restated nine months of 1997. Gross income from United States operations increased 19.2%. Gross income from international operations increased 14.0%. Gross income from international operations would have increased approximately 20.0%, except for the strengthening of the U.S. dollar against major currencies.

During the first nine months of 1998, net new business gains were recorded of approximately $1,207 million vs. $1,095 million in 1997, an increase of approximately 10.2%. This is a milestone for the Interpublic agency systems.

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 International Media, Allied Communications Group, Octagon and other related companies.

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 Third Quarter Report 1998 and 1997 (Unaudited) (Dollars in Thousands Except Per Share Data)
			%
	Three Months Ended September 30		Favorable
	1998	1997*	(Unfavorable)
Gross Income:
United States	$ 436,042	$ 372,778	17.0
International	$ 425,406	$ 360,180	18.1
Total Gross Income	$ 861,448	$ 732,958	17.5
.
Costs and Expenses	$ 759,869	$ 660,465	(15.1)
Interest Expense	$ 14,210	$ 14,343	0.9
Income Before   Provision for   Income Taxes	$ 87,369	$ 58,150	50.2
Provision for   Income Taxes	$ 38,207	$ 26,124	(46.3)
Net Equity Interests (a)	$ (4,000)	$ (943)	--
Net Income	$ 45,162	$ 31,083	45.3
Per Share Data:
Basic EPS	$.34	$.24	41.7
Diluted EPS (b)	$.33	$.24	37.5
Dividend   per-share	$.15	$.13	15.4
Weighted  Average Shares   Basic	132,792,504	127,078,261
Diluted	137,567,041	132,181,681
			%
	Nine Months Ended September 30		Favorable
	1998	1997*	(Unfavorable)
Gross Income:
United States	$ 1,325,140	$ 1,111,287	19.2
International	$ 1,283,971	$ 1,126,326	14.0
Total Gross Income	$ 2,609,111	$ 2,237,613	16.6
.
Costs and Expenses	$ 2,211,957	$ 1,924,630	(14.9)
Interest Expense	$ 14,210	$ 14,343	(4.0)
Income Before   Provision for   Income Taxes	$ 359,335	$ 276,636	29.9
Provision for   Income Taxes	$ 150,846	$ 114,142	(32.2)
Net Equity Interests (a)	$ (11,134)	$ (8,760)	--
Net Income	$ 197,355	$ 153,734	28.4
Per Share Data:
Basic EPS	$1.49	$1.21	23.1
Diluted EPS (b)	$1.44	$1.17	23.1
Dividend   per-share	$.43	$.37	16.2
Weighted  Average Shares   Basic	132,704,118	126,991,427
Diluted	137,783,816	136,285,448
Note: All prior period figures have been restated to incorporate the aggregate effect of the April 1998 pooled companies in addition to all prior pooled entities. (a) Net equity interests is the 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.