Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact: Randall Weisenburger
212-415-3393

Omnicom Reports Third Quarter 2003 Results

NEW YORK, October 28, 2003 — Omnicom Group Inc. (NYSE-OMC) today announced that net income for the third quarter of 2003 increased 7% to $135.3 million from $126.1 million in the third quarter of 2002. Diluted earnings per share increased 6% to $0.72 per share in 2003 from $0.68 per share in 2002.

Worldwide revenue increased 15% to $2,028.6 million in the third quarter of 2003 from $1,768.5 million in the third quarter of 2002. Domestic revenue for the third quarter of 2003 increased 12% to $1,111.1 million compared to $991.4 million in 2002. International revenue for the third quarter of 2003 increased 18% to $917.5 million compared to $777.1 million in 2002.

Net income for the nine months ended September 30, 2003 increased 3% to $454.6 million from $442.0 million in 2002. Diluted earnings per share increased 3% to $2.42 per share in 2003 from $2.36 per share in 2002.

Worldwide revenue for the nine months ended September 30, 2003 increased 13% to $6,115.4 million from $5,417.5 million in 2002. Domestic revenue for the nine months ended September 30, 2003 increased 8% to $3,392.9 million compared to $3,131.1 million in 2002. International revenue for the nine months ended September 30, 2003 increased 19% to $2,722.5 million compared to $2,286.4 million in 2002.

 

Omnicom Reports Third Quarter 2003 Results (continued)

Omnicom Group Inc. (NYSE-OMC) (www.omnicomgroup.com), is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.

For a live webcast and/or a replay of our third quarter earnings conference call, go to www.omnicomgroup.com/InvestorRelations.

Omnicom Group Inc.

(Unaudited)
(in Thousands of Dollars, Except Per Share Data)

Three Months Ended September 30	2003		2002
Revenue	$ 2,028,603		$ 1,768,459
Operating Expenses	1,794,191		1,557,068
Operating Income	234,412		211,391
Net Interest Expense	11,534		5,564
Income before income taxes	222,878		205,827
Income taxes	75,510		69,696
Income after income taxes	147,368		136,131
Equity in affiliates/Minority interests	(12,099	)	(10,027	)
Net income	$    135,269		$    126,104
Earnings per share
Basic	$    0.72		$    0.68
Diluted	$    0.72		$    0.68
Weighted average shares (in thousands)
Basic	187,499		185,865
Diluted	189,320		186,652
Dividend declared per share	$    0.20		$    0.20

 

Omnicom Group Inc.

(Unaudited)
(in Thousands of Dollars, Except Per Share Data)

Nine Months Ended September 30	2003		2002
Revenue	$ 6,115,356		$ 5,417,454
Operating Expenses	5,320,945		4,646,714
Operating Income	794,411		770,740
Net Interest Expense	32,754		22,829
Income before income taxes	761,657		747,911
Income taxes	261,276		271,568
Income after income taxes	500,381		476,343
Equity in affiliates/Minority interests	(45,780	)	(34,358	)
Net income	$    454,601		$    441,985
Earnings per share
Basic	$    2.43		$    2.37
Diluted	$    2.42		$    2.36
Weighted average shares (in thousands)
Basic	187,076		186,107
Diluted	188,177		187,923
Dividend declared per share	$    0.60		$    0.60