The Interpublic Group of Companies, Inc. (IPG) 8-K Acquisition or disposition of assets

EXHIBIT 11
THE INTERPUBLIC GROUP OF COMPANIES, INC.
COMPUTATION OF EARNINGS PER SHARE
(Dollars in Thousands Except Per Share Data)
Year Ended December 31
	2000	1999	1998	1997	1996
BASIC:
Net income	$420,261	$359,509	$374,174	$168,674	$262,337
Weighted average number of    common shares outstanding	359,615,126	351,966,488	346,908,503	333,764,150	333,001,925
Net income per share - Basic	$1.17	$1.02	$1.08	$ .51	$ .79
DILUTED:
Net income	$420,261	$359,509	$374,174	$168,684	$262,314
After tax interest savings    on assumed conversion of    subordinated debentures(1)(2)(3)(4)	--	--	--	--	--
Dividends paid net of    related income tax applicable    to the Restricted Stock Plan	666	631	541	447	384
Net income, as adjusted	$420,927	$360,140	$374,715	$169,131	$262,698
Weighted average number of    common shares outstanding	359,615,126	351,966,488	346,908,503	333,764,150	333,001,925
Assumed conversion of   subordinated debentures(1)(2)(3)(4)	--	--	5,321	--	--
Weighted average number of    incremental shares in    connection with assumed    exercise of stock options	7,568,272	9,129,110	9,029,393	8,176,116	5,899,086
Weighted average number of    incremental shares in    connection with the    Restricted Stock Plan	3,393,666	3,536,805	3,453,838	3,277,294	3,211,128
Total	370,577,064	364,632,403	359,397,055	345,217,560	342,112,139
Diluted earnings per share data:
Net income per share - diluted	$1.14	$0.99	$1.04	$ .49	$ .77

All data for prior periods have been adjusted for the two-for-one stock split effective July 15, 1999.

(1) The computation of diluted EPS for 2000 and 1999 excludes the assumed conversion of the 1.87% and 1.80% Convertible Subordinated
Notes due 2006 and 2004, respectively, because they were antidilutive.

(2) The computation of diluted EPS for 1998, 1997 and 1996 excludes the assumed conversion of the 1.80% Convertible Subordinated
      Notes due 2004 because they were antidilutive.

(3) In the fourth quarter of 1997, the Company redeemed its 3 3/4 % Convertible Subordinated Debentures due 2002.

     Substantially all of the outstanding debentures were converted into approximately 4.3 million shares of the Company's

     common stock.

(4) The computation of diluted EPS for 1997 and 1996 excludes the assumed conversion of the 3 3/4% Convertible Subordinated
     Debentures due 2002 because they were antidilutive.