WPP Group PLC
21 September 2004
FOR IMMEDIATE RELEASE 21 September 2004
WPP GROUP PLC ("WPP")
J Walter Thompson acquires 30% stake in Newsun in China
WPP announces that its wholly-owned operating company, J Walter Thompson
Company, has agreed to acquire 30% of the issued share capital of Guangzhou
Newsun Insight Advertising Company Limited ("Newsun"), a leading advertising and
marketing communications company in the People's Republic of China.
Founded in 2002 and based in Guangzhou, with an office in Xian, Newsun employs
115 people and had revenues of CNY 16.1 million (US$1.95 million) for the year
ended 31 December 2003 and net assets as at the same date of CNY 9.37m (US$1.1
million). Clients include TCL computers, Li Bai detergent, Zhong Yi
pharmaceutical, Star Music DVDs, Guandong Telecom and several real estate
concerns such as Hensen Property, Xian High Tech Property and Nan Ao Property.
This acquisition reinforces WPP's comprehensive communications services offer
and continues WPP's strategy of developing its networks in important markets and
sectors.
For further information, please contact:
Feona McEwan, WPP 44-20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
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