Omnicom Group Inc. Announces First-Quarter 2001 Results

NEW YORK, April 24, 2001 -- Omnicom Group Inc. (NYSE: OMC) today announced that net income for the first quarter of 2001 increased 20% to $95.3 million from $79.7 million in the first quarter of 2000, excluding an after-tax gain realized in the first quarter of 2000 of $63.8 million on the sale of a portion of the Company's ownership position in Razorfish. Diluted earnings per share increased 16% to $0.52 per share in 2001 from $0.45 per share in 2000, excluding the Razorfish gain. Including the Razorfish gain, first quarter 2000 net income was $143.5 million and diluted earnings per share were $0.78.

Effective January 1, 2001, the Company adopted Financial Accounting Standards Board Statement No. 133 (SFAS 133), "Accounting for Derivatives and Hedging Activities." The cumulative effect of this accounting change resulted in a $2.9 million reduction of net income and reduced diluted earnings per share by $0.02.

Worldwide revenue increased 16% to $1,601.1 million in the first quarter of 2001 from $1,379.0 million in the first quarter of 2000. Domestic revenue for the first quarter of 2001 increased 25% to $896.6 million compared to $717.4 million in 2000. International revenue for the first quarter of 2001 increased 6% to $704.5 million compared to $661.6 million in 2000.

Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com), is a leading global marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.

For a live webcast and/or a replay of our first quarter earnings conference call, go to www.omnicomgroup.com/investor/index.html.

                                                     Excluding     Including
                                                     Razorfish     Razorfish
                                                       Gain          Gain
    Three Months Ended March 31        2001            2000          2000

    Revenue                      $1,601,134      $1,379,015    $1,379,015

    Operating and net interest
     expense                      1,425,274       1,226,649    $1,226,649

    Realized gain on sale of
     Razorfish shares                    --              --       110,044

    Income before income taxes      175,860         152,366       262,410

    Income taxes                     69,677          62,251       108,469

    Income after income taxes       106,183          90,115       153,941

    Equity in affiliates/Minority
     interests                       (7,972)        (10,403)      (10,403)

    Cumulative effect of accounting
     change                          (2,931)             --            --

    Net income                      $95,280         $79,712      $143,538


    Earnings per share
    Basic                             $0.52           $0.46         $0.82
    Diluted                           $0.52           $0.45         $0.78


    Dividend declared per share      $0.175          $0.175        $0.175

SOURCE Omnicom Group Inc.
Web site: http: //www.omnicomgroup.com
CONTACT: Randall Weisenburger of Omnicom Group Inc., +1-212-415-3393

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