14th Apr 2005 09:08
WPP Group PLC14 April 2005 For Immediate Release 14 April 2005 WPP GROUP PLC ("WPP") Millward Brown acquires MRI in Korea WPP announces that its wholly-owned operating company Millward Brown, theleading global advertising, media, marketing communications and brand equityresearch network, has conditionally agreed to acquire the issued share capitalof Media Research, Inc. ("MRI"), a leading independent market research agency inKorea. Founded in 1990 and headquartered in Seoul, with offices in Daejeon, Daegu, Gwangju and Busan, MRI has 74 full time employees. MRI's clients include CJCorporation, Coca-Cola, Korea Broadcasting System, Korea Productivity Centre,KRIVE&T, Pizza Hut and Motorola. MRI's unaudited revenues for the year ended 31 December 2004 were KRW 10.24billion (US$ 10.2 million) with net assets of KRW 672 million (US$0.7 million)as at that date. This investment continues WPP's strategy of developing its networks in importantgeographic markets and sectors. For further information, please contact: Feona McEwan, WPP 44-20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WPP