December 17, 1998

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

        Re:  The Interpublic Group of Companies, Inc.
             Form 8-K dated December 4, 1998


          Enclosed for filing electronically is Interpublic's
Report on Form 8K, dated December 4, 1998.
          If you have any questions, please contact the
undersigned at (212) 399-8114 or Nicholas J. Camera at
(212) 399-8021.  Our telecopier number is (212) 399-8280.

                                        Sincerely yours,

                                        Barbara S. Gmora
                                        Barbara S. Gmora


cc:  Fred Molz
     Nicholas J. Camera
     New York Stock Exchange



                     WASHINGTON, D.C.  20549
                            FORM 8-K
                         CURRENT REPORT
             PURSUANT TO SECTION 13 OR 15 (d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934
  Date of report (Date of earliest event reported): December 4,

            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

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

     On December 4, 1998, a subsidiary of The Interpublic Group
of Companies, Inc. ("Interpublic") acquired 51% of the capital
stock of a French company.  The initial payment of FF 5,000,000
was made partly in cash and partly in the common stock, par value
$.10 per share of Interpublic (the "Interpublic Stock").  In
connection with the acquisition, Interpublic issued 6,908 shares
of the Interpublic Stock, valued at FF 2,500,000, to one of the
shareholders of the French company.

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

     The transaction was effected in an "offshore transaction"
and in accordance with the requirements of Rule 903(b)(3) of
Regulation S under the Securities Act of 1933 as amended.


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:  December 17, 1998         Nicholas J. Camera
                                 Nicholas J. Camera
                                 Vice President, General Counsel
                                 and Secretary