Omnicom to Pay $2.50 Per $1,000 of Zero Coupon Zero Yield Convertible Notes Due 2033 For Note Amendment

NEW YORK, Oct. 21 /PRNewswire-FirstCall/ -- Omnicom Group Inc. (NYSE: OMC) announced today that it will pay $2.50 per $1,000 of its Zero Coupon Zero Yield Convertible Notes due 2033 to registered noteholders who have delivered a consent to amend the notes prior to the close of business on November 4, 2004. Payment will be made promptly after the close of the solicitation.

The amendment provides for Omnicom to pay the same conversion value on exercise of the conversion right, but would change how the conversion value is paid. In lieu of receiving exclusively shares of common stock on conversion, the noteholder would receive cash for the initial principal amount of notes surrendered for conversion and, at Omnicom's option, the remainder of the conversion value would be paid in cash or shares.

All of the documents are available through The Depository Trust Company or on our website at http://www.omnicomgroup.com/investorrelations/bondnotice. Noteholders can also obtain copies from the Trustee at (800) 275-2048 or Omnicom at (212) 415-3393.

Omnicom Group Inc. (NYSE: OMC) (http://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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