Exhibit 10(b)(7)


                        REVOLVING CREDIT PROMISSORY NOTE

U.S. $17,500,000                                           Dated:  June 27, 2000


                  FOR VALUE RECEIVED, the undersigned,  THE INTERPUBLIC GROUP OF
COMPANIES, INC., a Delaware corporation (the "Borrower"), HEREBY PROMISES TO PAY
to the order of CREDIT  AGRICOLE  INDOSUEZ (the "Lender") for the account of its
Applicable Lending Office on the Termination Date (each as defined in the Credit
Agreement referred to below) the principal sum of U.S.  $17,500,000 or, if less,
the  aggregate  principal  amount of the Revolving  Credit  Advances made by the
Lender to the Borrower pursuant to the 364-Day Credit Agreement dated as of June
27,  2000 among the  Borrower,  the Lender and  certain  other  lenders  parties
thereto,  Salomon  Smith Barney,  Inc., as lead arranger and book manager,  Bank
One,  NA,  SunTrust  Bank and HSBC Bank USA, as  co-arrangers,  Bank One, NA, as
documentation agent, SunTrust Bank, as syndication agent, and Citibank,  N.A. as
Agent for the Lender and such other lenders (as amended or modified from time to
time,  the "Credit  Agreement";  the terms defined  therein being used herein as
therein defined) outstanding on the Termination Date.

                  The Borrower  promises to pay interest on the unpaid principal
amount of each Revolving  Credit Advance from the date of such Revolving  Credit
Advance until such principal amount is paid in full, at such interest rates, and
payable at such times, as are specified in the Credit Agreement.

                  Both  principal  and  interest  in respect  of each  Revolving
Credit  Advance (i) in Dollars are payable in lawful money of the United  States
of America to the Agent at its account  maintained at 399 Park Avenue, New York,
New York 10043, in same day funds and (ii) in any Committed Currency are payable
in such  currency  at the  applicable  Payment  Office in same day  funds.  Each
Revolving  Credit  Advance  owing to the Lender by the Borrower  pursuant to the
Credit Agreement,  and all payments made on account of principal thereof,  shall
be recorded by the Lender and,  prior to any  transfer  hereof,  endorsed on the
grid attached hereto which is part of this Promissory Note.

                  This  Promissory  Note is one of the  Revolving  Credit  Notes
referred to in, and is entitled to the  benefits of, the Credit  Agreement.  The
Credit Agreement,  among other things,  (i) provides for the making of Revolving
Credit  Advances by the Lender to the Borrower from time to time in an aggregate
amount not to exceed at any time  outstanding the U.S. dollar amount first above
mentioned,  the indebtedness of the Borrower  resulting from each such Revolving
Credit Advance being evidenced by this Promissory Note, (ii) contains provisions
for determining the Dollar  Equivalent of Revolving Credit Advances  denominated
in Committed  Currencies and (iii) contains  provisions for  acceleration of the
maturity  hereof  upon the  happening  of  certain  stated  events  and also for
prepayments on account of principal hereof prior to the maturity hereof upon the
terms and conditions therein specified.

                  This  Promissory  Note shall be governed by, and  construed in
accordance with, the laws of the State of New York.

                                                 THE INTERPUBLIC GROUP OF
                                                 COMPANIES, INC.


                                                 By  /s/ STEVEN BERNS
                                                   -----------------------------
                                                         STEVEN BERNS
                                                   Title: VP & Treasurer