50% Stake Taken in Tamir Cohen Ltd

WPP Group PLC 7 December 1999 WPP GROUP PLC ('WPP') J. Walter Thompson acquires 50% stake in Tamir Cohen Limited, a leading Israeli advertising agency and option to acquire interest in NetKing, the leading Israeli language Internet portal WPP Groups wholly owned operating company, J Walter Thompson Company ('JWT') has agreed to acquire 50% of Tamir Cohen Limited, one of the leading full service advertising agencies in Israel, and entered into put and call options to acquire the remaining 50%. At the same time, JWT has entered into an option to acquire a minority interest in Tamir Cohen associate, NetKing, the leading Israeli language Internet portal. Founded in 1934, with offices in Tel Aviv, Tamir Cohen was the first advertising agency in Israel. Its clients include British Airways, Burger King, Elite, International Bank, Israel Electric Company, Jacobs, Kellogg, Microsoft, Samsung cellular, Strauss and Unilever. The company had revenues of NIS 38.5 million for the year to 31 December 1998 and net assets of NIS 13.4 million at that date. Tamir Cohen will continue to be managed by its directors David Tamir and Rony Cohen. Commenting on the acquisition, Michael Mddel, president and chief executive of JWT Europe said, 'We have worked with Tamir Cohen for many years and appreciate their professionalism, so we are delighted to have deepened the relationship with the premier agency in Israel.' The interest in Tamir Cohen expands JWTs presence in the strategically important Middle Eastern market and continues WPPs strategy of strengthening existing networks worldwide and of investing in ground-breaking interactive agencies. For further information please contact: Feona McEwan at WPP, London Tel: + 44 171 408 2204

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