Omnicom Group Announces Second Quarter 2001 Results

NEW YORK, July 24, 2001 -- Omnicom Group Inc. (NYSE: OMC) today announced that net income for the second quarter of 2001 increased 19% to $151.4 million from $127.4 million in the second quarter of 2000. Diluted earnings per share increased 16% to $0.81 per share in 2001 from $0.70 per share in 2000.

Worldwide revenue increased 15% to $1,746.8 million in the second quarter of 2001 from $1,520.2 million in the second quarter of 2000. Domestic revenue for the second quarter of 2001 increased 15% to $925.3 million compared to $805.4 million in 2000. International revenue for the second quarter of 2001 increased 15% to $821.5 million compared to $714.8 million in 2000.

Net income for the six months ended June 30, 2001 increased 19% to $246.6 million from $207.1 million in 2000, excluding an after-tax gain in the first six months 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 $1.32 per share in 2001 from $1.14 per share in 2000, excluding the Razorfish gain. Including the Razorfish gain the six months net income was $270.9 million and diluted earnings per share was $1.48.

Included in net income for the six months is a reduction of $2.9 million ($0.02 per diluted share) resulting from the cumulative effect of adopting, on January 1, 2001, Financial Accounting Standards Board Statement No. 133, "Accounting for Derivatives and Hedging Activities".

Worldwide revenue for the six months ended June 30, 2001 increased 15% to $3,347.9 million in 2001 from $2,899.3 million in 2000. Domestic revenue for the six months ended June 30, 2001 increased 20% to $1,821.9 million compared to $1,522.7 million in 2000. International revenue for the six months ended June 30, 2001 increased 11% to $1,526.0 million compared to $1,376.6 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 second quarter earnings conference call, go to www.omnicomgroup.com/investor/index.html.

    Three Months Ended June 30                          2001           2000

    Revenue                                       $1,746,788     $1,520,245

    Operating and net interest expense             1,475,121      1,282,621

    Income before income taxes                       271,667        237,624

    Income taxes                                     107,613         96,256

    Income after income taxes                        164,054        141,368

    Equity in affiliates/Minority interests                        (12,688)
                                                                   (13,981)

    Net income                                      $151,366       $127,387


    Earnings per share

      Basic                                            $0.83          $0.73
      Diluted                                          $0.81          $0.70


    Dividend declared per share                       $0.200         $0.175


    Omnicom Group Inc.

    (Unaudited)
    (in Thousands of Dollars, Except Per Share Data)


                                                    Excluding    Including
                                                    Razorfish    Razorfish
                                                       Gain          Gain
    Six Months Ended June 30           2001            2000          2000

    Revenue                      $3,347,921      $2,899,260    $2,899,260

    Operating and net interest
     expense                      2,900,394       2,509,270     2,509,270

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

    Income before income taxes      447,527         389,990       500,034

    Income taxes                    177,290         158,506       204,724

    Income after income taxes       270,237         231,484       295,310

    Equity in affiliates/Minority
     interests                      (20,660)        (24,385)     (24,385)

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

    Net income                     $246,646        $207,099      $270,925


    Earnings per share

      Basic                           $1.35           $1.18         $1.55
      Diluted                         $1.32           $1.14         $1.48


    Dividend declared per share      $0.375          $0.350        $0.350

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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