11th Sep 2006 07:01
WPP Group PLC11 September 2006 FOR IMMEDIATE RELEASE 11 September 2006 WPP GROUP PLC ("WPP") Ogilvy increases shareholding in China joint venture WPP announces that its operating company Ogilvy & Mather Worldwide, the leadingadvertising and marketing communications network, has renewed its joint ventureagreement with Shanghai Advertising Limited in respect of Shanghai Ogilvy &Mather Advertising Limited for a further 15 years and increased its majorityownership in the joint venture from 51% to 75%. Shanghai Ogilvy & Mather Advertising Limited, which has full service offices inBeijing, Guangzhou, Shanghai, Fuzhou and Xiamen reported revenues of CNY 250million for the year ended 31 December 2005 and had gross assets of CNY 807million as at that date. Multinational clients include IBM, Motorola and BP andChinese clients include Lenovo, China Mobile and Great Wall Wine. This increased investment confirms Ogilvy's commitment to the China market andcontinues WPP's strategy of expanding its networks in fast-growing and importantmarkets, and its regional strategy in Mainland China. Greater China is one ofthe fastest-growing markets for WPP, providing the company with the highestamount of revenues from this region amongst its competitors. Consequently, theGroup which employs 6,700 professionals in Greater China, has a strongleadership position in the region - as it does in Asia overall - across alladvertising and marketing disciplines. Contact: Feona McEwan, WPP London T. +44-20 7408 2204 www.wpp.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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