6th Nov 2006 12:37
WPP Group PLC06 November 2006 For immediate release 6 November 2006 WPP GROUP PLC ("WPP") Bates Asia acquires 51% stake in Apex in China WPP announces that its wholly-owned operating company Bates Asia, the network ofcreative communications agencies dedicated to the Asian region, has acquired,subject to regulatory approval, 51% of the share capital of Chengdu ApexAdvertising Co., Ltd. ("Apex"), a leading integrated marketing communicationsagency in the People's Republic of China. Founded in 1997 with offices in Chengdu, Xi'an and Chongqing, Apex employs 117people. Apex had unaudited revenues of RMB 14.2million for the year ended 31December 2005, with gross assets as at the same date of RMB 23.9million. Clientsinclude Meng Niu Dairy (Mongolian Cow), China National Petroleum Corporation,Zhu Ye Qing Tea, Road Easy Tyres and Pi Xian Tourism. This acquisition continues WPP's strategy of expanding its networks infast-growing and important markets, and its regional strategy in Mainland China.Chengdu is the capital of China's third largest province Sichuan and with apopulation of over 10 million people it is China's fifth largest city. GreaterChina is one of the fastest-growing markets for WPP, providing the company withthe highest amount of revenues from this region amongst its competitors.Consequently, the Group, which employs 7,000 professionals in Greater China, hasa strong relationship position in the region - as it does in Asia overall -across all advertising and marketing disciplines. Contact: WPP +44-20 7408 2204Feona McEwanwww.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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