16th May 2006 10:56
WPP Group PLC16 May 2006 FOR IMMEDIATE RELEASE 16 May 2006 WPP GROUP PLC ("WPP") GroupM acquires stake in HYLZ in China WPP announces that its wholly-owned operating company GroupM, the leading mediainvestment management network, has acquired, subject to regulatory approval, 49%of the issued share capital of Beijing Hua Yang Lian Zhong Advertising Company("HYLZ"), a leading media investment management agency specialising in on-lineand interactive media in the People's Republic of China. Founded in 1994 and based in Beijing, with a branch in Shanghai, HYLZ employs 99people. HYLZ had audited revenues of CNY 20.75 million (US$2.6 million) for theyear ended 31 December 2005, with net assets as at the same date of CNY 15.5m(US$ 1.94m). Clients include China Mobile, MOTO, BMW, AMD and Ebay and theagency is a leading customer of Google, Yahoo and Baidu. This acquisition continues WPP's strategy of developing its networks in fastgrowing markets and sectors. Greater China is one of the fastest-growingmarkets for WPP, with over $400 million of revenue - almost one-third of thecompany's total Asia Pacific business. WPP earns the highest amount ofrevenues from this region amongst its competitors. Consequently, the Group,which employs 6,000 professionals in Greater China, has a very strongleadership position in the region - as it does in Asia overall - across allmarketing disciplines. 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:
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