25th Jan 2005 07:01
WPP Group PLC25 January 2005 FOR IMMEDIATE RELEASE 25 JANUARY 2005 WPP GROUP PLC ("WPP") Grey Global Group Inc. ("Grey") The European Commission has cleared WPP's proposed acquisition of Grey under theEC Merger Regulation. WPP now expects to complete the acquisition of Grey by early March. INVESTOR INFORMATION This communication is being made in respect of the proposed merger involving WPPGroup plc and Grey Global Group Inc. This communication does not constitute anoffer of any securities for sale. In connection with the proposed merger, WPPhas filed with the US Securities and Exchange Commission (SEC) on December 21,2004, Amendment no. 1 to Registration Statement on Form F-4 (SEC File No.333-119949), containing a preliminary proxy statement/prospectus relating to theproposed merger for the stockholders of Grey, and each of WPP and Grey has andwill be filing other documents regarding the proposed merger with the SEC. INVESTORS ARE URGED TO READ THE PRELIMINARY PROXY STATEMENT/PROSPECTUS, WHICH ISAVAILABLE NOW, AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS, WHEN IT BECOMESAVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEYCONTAIN AND WILL CONTAIN IMPORTANT INFORMATION. Investors may obtain the documents free of charge at the SEC's website(www.sec.gov). In addition, documents filed with the SEC by WPP may be obtainedfree of charge by contacting WPP at 125 Park Avenue, New York, NY 10017, +1 212632 2200. Documents filed with the SEC by Grey are available free of charge bycontacting Grey at 777 Third Avenue, New York, NY 10017, +1 212 546 2000. INVESTORS SHOULD READ THE PRELIMINARY PROXY STATEMENT/PROSPECTUS, WHICH ISAVAILABLE NOW, AND THE DEFINITIVE PROXY STATEMENT/ PROSPECTUS, WHEN IT BECOMESAVAILABLE, CAREFULLY BEFORE MAKING ANY VOTING OR INVESTMENT DECISION. Grey and its directors and executive officers may be deemed to participate inthe solicitation of proxies in respect of the proposed transactions. Informationregarding Grey's directors and executive officers is available in Grey'sdefinitive proxy statement relating to its 2004 Annual Meeting of Stockholders,which was filed with the SEC on December 8, 2004. Additional informationregarding the interests of such potential participants is included in thepreliminary proxy statement/prospectus, which is available now, and will beincluded in the definitive proxy statement/prospectus and the other relevantdocuments filed with the SEC when they become available. Private Securities Litigation Reform Act Safe Harbor Statement The statements, analyses, and other information contained herein relating to theproposed merger and anticipated synergies, savings and financial and operatingperformance, including estimates for growth, trends in each of the operationsand financial results, the markets for products, the future development ofbusiness, and the contingencies and uncertainties of WPP Group plc and GreyGlobal Group Inc. to which WPP and Grey may be subject, as well as otherstatements including words such as "anticipate," "believe," "plan," "estimate,""expect," "intend," "will," "should," "may," and other similar expressions, are"forward-looking statements" under the Private Securities Litigation Reform Actof 1995. Such statements are made based upon management's current expectationsand beliefs concerning future events and their potential effects on the company. The forward-looking statements are subject to various risks and uncertainties,many of which are difficult to predict and generally beyond the control of WPPand Grey, that could cause actual results to differ materially from thoseexpressed in, or implied by, the forward-looking statements. These risks and uncertainties include those discussed or identified in thepublic filings with the U.S. Securities and Exchange Commission made by WPP andGrey as well as those associated with the realization of expected earningsaccretion, margin improvements and cost savings, synergies, efficiencies andother benefits anticipated from the merger, including the risk of loss of keyemployees and client business in connection with the transaction and the riskthat the completion of the merger may be delayed for regulatory or otherreasons. Neither WPP nor Grey undertakes, and each specifically disclaims, any obligationto update or revise any forward-looking information, whether as a result of newinformation, future developments or otherwise. Contact: Feona McEwan, WPP London 44-20 7408 2204www.wpp.com Jan A. SneedGrey Global Group 212-546-2422 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WPP