SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, D.C. 20549


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                              FORM 8-K
                                
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                           CURRENT REPORT
               PURSUANT TO SECTION 13 OR 15 (d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934
                                

Date of report (Date of earliest event reported): July 23, 1998
                                
           The Interpublic Group of Companies, Inc.              
       (Exact Name of Registrant as Specified in Charter)
                   

Delaware                         1-6686              13-1024020
(State or other               (Commission           (IRS Employer
Jurisdiction                  File Number)          Identification Number)
of incorporation)

                                
  1271 Avenue of the Americas, New York, New York     10020          
 (Address of Principal Executive Offices)            (Zip Code)
                                

Registrant's telephone number, including area code: 212-399-8000


_________________________________________________________________
 (Former Name or Former Address, if Changed Since Last Report)






Item 9.   Sales of Equity Securities Pursuant to Regulation S.

On July 23, 1998, The Interpublic Group of Companies, Inc. ("Interpublic") 
sold 45,986 shares of its common stock, par value $.10 (the "Shares"), to 
two (2) non-U.S. entities and two non-U.S. individuals as a partial payment
valued at US$ 2,714,357 out of a total payment of US$ 3,877,654 for 75% of
the issued shares of capital stock of Interfocus Group Ltd., a English
company. Additional purchase price installments will be made over the
next four years.

No underwriter or placement agent was used in connection with the sale of
the Shares.

The transaction was effected in an "offshore transaction" and in accordance 
with the "offering restrictions" and "no directed selling efforts" 
requirements of Rule 903(c)(2) of Regulation S under the Securities Act of
1933.

                           SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                         THE INTERPUBLIC GROUP OF COMPANIES, INC.



Date: August 5, 1998                  By: NICHOLAS J. CAMERA
                                         VICE PRESIDENT, GENERAL COUNSEL
                                         AND SECRETARY