WPP Group PLC
16 March 2001
FOR IMMEDIATE RELEASE 16 March 2001
WPP GROUP PLC ('WPP')
Acquires AD Venture Worldwide Inc in Korea
WPP has agreed to acquire 80% of AD Venture Worldwide Inc ('AD Venture'), a
top ten ranking advertising agency in Korea.
The agency's revenues were Korean Won 13,672 million for the year to 31
December 1999. Employing over 70 people, AD Venture provides full service
advertising campaigns for some of the best-known brands and largest
advertisers in Korea, including Maeil, Aekyung and Kookmin. AD Venture had
net assets of Korean Won 1,762 million as at 31 December 1999.
The acquisition continues WPP's strategy of strengthening its networks in key
regional markets, complementing the Group's existing operations in Korea and
offers AD Venture's clients instant access to worldwide networks and the full
range of related marketing disciplines.
For further information please contact:
Feona McEwan at WPP
Tel: + 44 20 7408 2204
www.wpp.com
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