WPP Group PLC
17 January 2000
WPP GROUP PLC ('WPP')
wpp.com announces three new media investments
wpp.com, the recently formed parent company which co-ordinates
WPP's new media activities, announces three new investments in
the areas of: e-mail based loyalty programs; sports marketing;
and new media and technology.
The first investment involves a $5 million purchase of a 20%
equity interest in e-Rewards, Inc., a new venture started by Hal
Brierley, chairman and ceo of Brierley & Partners, the world's
leading loyalty management company, and Mort Myerson, former ceo
of Perot Systems and president of EDS. e-Rewards has raised
nearly $20 million to launch an e-mail communications company.
WPP also owns a 20% interest in Brierley & Partners, whose
clients include United Airlines, Hertz, Hilton, Epson, UPS,
Blockbuster and the Star Alliance.
The second investment is in TWIinteractive (TWIi), the new media
and technology arm of Mark McCormack's International Management
Group, the world's premier sports marketing company. TWIi is the
world leader in both the production of signature sports websites
and in the negotiation and commercial development of new media
initiatives. It creates dynamic websites and other interactive
media applications in association with the rights holders of the
premier brands in sports worldwide. wpp.com has acquired a
minority interest in TWIi.
The third and final investment is in Concept! GmbH, Wiesbaden
('Concept'), a leading German new media company. Ogilvy
Interactive, one of WPP's operating companies, will be injecting
its German interactive business and a cash contribution of
approximately DM15 million into Concept to create the third
largest interactive business in Germany. Ogilvy will have an
equity interest of approximately 20%. The new combined company
will be seeking a listing on the German Neue Markt in due course.
Clients of Concept include Deutsche Bank, Kaufhof, Deutsche
Telekom and Metallgesellschaft.
These investments continue to implement WPP's objective of
developing its new media interests through its established
businesses and directly through new investments and channels.
Contact:
Feona McEwan, WPP London 44-20 7408 2204
www.wpp.com
www.concept.com
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