GREY Grey Global Grp. (MM)

Grey Global Group Announces Date for Special Meeting of Stockholders to Vote on Proposed Merger With WPP And Election Deadline for Cash/Stock Elections NEW YORK, Feb. 4 /PRNewswire-FirstCall/ -- Grey Global Group Inc. (NASDAQ:GREY) announced that a special meeting of its stockholders will be held at 8:00 a.m. on March 3, 2005 to vote on the proposal concerning the previously announced merger with WPP Group plc (NASDAQ:WPPGYNASDAQ:LSE:NASDAQ:WPP). Stockholders will be asked to adopt the Agreement and Plan of Merger, as amended, among WPP Group, Grey Global Group and Abbey Merger Corporation, a new WPP subsidiary established for the purposes of the transaction. The record date for determining Grey Global Group stockholders entitled to vote at the meeting was January 31, 2005. The meeting will be held at 32 Old Slip, Second Floor Auditorium, New York, New York 10005. The election deadline for Grey Global Group stockholders to elect whether to receive cash, WPP shares or a combination of cash and WPP shares in the proposed merger in exchange for their Grey Global Group shares has been set for 5:00 p.m. on March 3, 2005 (the date of the special meeting). The proxy statement/prospectus related to the proposed merger, together with the form of election, was mailed to Grey Global Group stockholders beginning on February 2, 2005. The proxy statement/prospectus contains important information regarding the terms of the merger. Stockholders are encouraged to read the proxy statement/prospectus carefully. ABOUT GREY GLOBAL GROUP: Grey Global Group ranks among the largest global communications companies in the world. Grey Global Group operates branded independent business units in many communications disciplines including general advertising, public relations/public affairs, direct marketing, Internet communications, healthcare marketing, brand strategy and design, and on-line and off-line media services. DATASOURCE: Grey Global Group Inc. CONTACT: Jan Sneed, +1-212-546-2422, or Steven G. Felsher, +1-212-546-2440, both of Grey Global Group Inc. Web site: http://www.grey.com/

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