Omnicom to Pay $7.50 Per $1,000 of Zero Coupon Zero Yield Convertible Notes Due 2032 and Extend No-Call Period

NEW YORK, July 30 /PRNewswire-FirstCall/ -- Omnicom Group Inc. (NYSE: OMC) announced today that it will pay $7.50 per $1,000 principal amount of its Zero Coupon Zero Yield Convertible Notes Due 2032 to registered noteholders who have not, as of immediately following the close of business on July 31, 2003, exercised their right to require Omnicom to purchase their notes. The payment will be made to qualifying noteholders on August 6, 2003. Omnicom issued $900 million of these notes in 2002.

In addition, Omnicom will extend the no-call period from the period ending July 31, 2007 to the period ending July 31, 2009.

The record date for determining the holders of notes eligible to receive the $7.50 per $1,000 principal payment amount of the Notes will be immediately after the close of business on July 31, 2003. Holders who purchased Notes on July 28, 2003 subject to 3-day settlement will be considered a record holder of Notes for this purpose and will receive the payment. Holders who purchased Notes after July 28, 2003 subject to 3-day settlement will not be eligible to receive the payment. Holders who tender their notes for purchase by Omnicom on or before the close of business on July 31, 2003 and who do not withdraw the tender by such time will not receive the payment.

Omnicom (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.

SOURCE Omnicom Group Inc.

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