FILED BY WPP GROUP PLC
                         PURSUANT TO RULE 425 UNDER THE
                             SECURITIES ACT OF 1933
                     SUBJECT COMPANY: GREY GLOBAL GROUP INC.
                           COMMISSION FILE NO.: 0-7898

                      FOR IMMEDIATE RELEASE 26 OCTOBER 2004

                     WPP GROUP PLC ("WPP" OR THE "COMPANY")

                         GREY GLOBAL GROUP INC. ("GREY")

Further  to WPP's  announcement  on 13  September  2004 of the  proposed  merger
involving WPP and Grey, WPP announces that it has filed a Registration Statement
on Form F-4 with the United States Securities and Exchange Commission ("SEC") in
connection with the proposed acquisition.

Share owners should be aware that the  Registration  Statement on Form F-4 filed
yesterday and the Preliminary Proxy  Statement/Prospectus  contained therein are
subject to changes,  deletions or additions  which may or may not be material in
nature.  No reliance should therefore be placed on the information  contained in
the Registration Statement filed yesterday.

Copies of this  Registration  Statement are available  free of charge on the SEC
website at www.sec.gov under WPP's company filings.  In addition,  a copy of the
Registration  Statement has been submitted to the UK Listing  Authority and will
shortly be available for inspection at the UK Listing Authority Document Viewing
Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: (0)20 7676 1000

For further information contact:

Feona McEwan, WPP London        44-20 7408 2204
www.wpp.com

                              INVESTOR INFORMATION

This communication is being made in respect of the proposed merger involving WPP
Group plc and Grey Global Group Inc. This  communication  does not constitute an
offer of any securities for sale. In connection  with the proposed  merger,  WPP
and Grey have filed with the SEC a registration statement on Form F-4 containing
a preliminary proxy  statement/prospectus for the stockholders of Grey, SEC File
No. 333-119949,  and each will be filing other documents  regarding the proposed
merger with the SEC.

INVESTORS ARE URGED TO READ THE PRELIMINARY PROXY STATEMENT/PROSPECTUS, WHICH IS
AVAILABLE NOW, AND THE DEFINITIVE  PROXY  STATEMENT/PROSPECTUS,  WHEN IT BECOMES
AVAILABLE,  AND ANY OTHER  RELEVANT  DOCUMENTS  FILED WITH THE SEC BECAUSE  THEY
CONTAIN 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 obtained
free of charge by contacting WPP at 125 Park Avenue,  New York, NY 10017, +1 212
632 2200.  Documents  filed with the SEC by Grey are available free of charge by
contacting Grey at 777 Third Avenue, New York, NY 10017, +1 212 546 2000.

INVESTORS  SHOULD  READ THE  PRELIMINARY  PROXY  STATEMENT/PROSPECTUS,  WHICH IS
AVAILABLE NOW, AND THE DEFINITIVE PROXY STATEMENT/  PROSPECTUS,  WHEN IT BECOMES
AVAILABLE, CAREFULLY BEFORE MAKING ANY VOTING OR INVESTMENT DECISION.

Grey and its directors and executive  officers may be deemed to  participate  in
the solicitation of proxies in respect of the proposed transactions. Information
regarding  Grey's  directors  and  executive  officers  is  available  in Grey's
Amendment to their Annual Report for the year ended December 31, 2003, which was
filed  with the SEC on April 29,  2004.  Additional  information  regarding  the
interests of such potential  participants is included in the  preliminary  proxy
statement/prospectus,  which  is  available  now,  and will be  included  in the
definitive  proxy  statement/prospectus  and the other relevant  documents 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 the
proposed merger and anticipated  synergies,  savings and financial and operating
performance,  including  estimates for growth,  trends in each of the operations
and financial  results,  the markets for  products,  the future  development  of
business,  and the  contingencies  and  uncertainties  of WPP Group plc and Grey
Global  Group  Inc.  to  which  WPP and Grey  may be  subject,  as well as other
statements 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 Act
of 1995. Such statements are made based upon management's  current  expectations
and 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 WPP
and Grey,  that  could  cause  actual  results to differ  materially  from those
expressed in, or implied by, the forward-looking statements.

These risks and  uncertainties  include  those  discussed or  identified  in the
public filings with the U.S.  Securities and Exchange Commission made by WPP and
Grey as well as those  associated  with the  realization  of  expected  earnings
accretion,  margin  improvements and cost savings,  synergies,  efficiencies and
other benefits  anticipated  from the merger,  including the risk of loss of key
employees and client  business in connection  with the  transaction and the risk
that the  completion  of the  merger  may be  delayed  for  regulatory  or other
reasons.

Neither WPP nor Grey undertakes, and each specifically disclaims, any obligation
to update or revise any forward-looking information,  whether as a result of new
information, future developments or otherwise.


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