23rd Jan 2008 07:00
WPP Group PLC23 January 2008 FOR IMMEDIATE RELEASE 23 January 2008 WPP GROUP PLC ("WPP") Hill & Knowlton acquires majority stake in Rikes Communications in Hong Kong WPP announces that its wholly-owned operating company Hill & Knowlton, theglobal public relations and public affairs network, has acquired a 70% stake inRikes Communications Limited ("Rikes"), in Hong Kong. Rikes is an investorrelations and corporate communications firm specialising in providing financialcommunications and investor relations to Chinese State Owned Enterprises andChinese companies as they go international. Founded in 2000, Rikes provides a range of public relations services includingpublic relations programs, media and communication training, crisis counsellingand crisis management, long term investor relations programs, writing, designand production of annual reports, media monitoring and analysis, eventmanagement and website production and design. Clients include Huaneng PowerInternational, Maanshan Iron & Steel, Zhejiang Expressway and Guangshen Railway. Rikes' unaudited revenues for the year ended 31 March 2007 were HK$7.4 million,with gross assets at the same date of HK$7.0 million. This investment continues WPP's strategy of developing its networks in fastgrowing markets and sectors. Contact:Feona McEwan, WPP T. +(0)20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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