Exhibit 10(d)
                              NOTE

                                                  June 25, 1996
                                             New York, New York

          FOR VALUE RECEIVED, THE INTERPUBLIC GROUP OF COMPANIES,
INC., a Delaware corporation (the "Borrower"), hereby promises to
pay to the order of CHEMICAL BANK (the "Bank"), for the account
of its Applicable Lending Office, the unpaid principal amount of
each Loan made by the Bank to the Borrower pursuant to the Credit
Agreement referred to below on the last day of the Interest
Period relating to such Loan.  The Borrower promises to pay
interest on the unpaid principal amount of each such Loan on the
dates and at the rate or rates provided for in the Credit
Agreement.

          All such payments of principal and interest shall be
made in lawful money of the United States of America in Federal
or other immediately available funds at the office of the Bank
located at 270 Park Avenue, New York, NY 10020.

          All Loans made by the Bank, the respective maturities
thereof and all repayments of the principal thereof shall be
recorded by the Bank and, prior to any transfer hereof, endorsed
by the Bank on the schedule attached hereto, or on a continuation
of such schedule attached to and made a part hereof; provided
that the failure of the Bank to make any such recordation or
endorsement shall not affect the obligations of the Borrower
hereunder or under the Credit Agreement.

          This note is the Note referred to in the Credit
Agreement dated as of June 25, 1996 between the Borrower and the
Bank (as the same may be amended from time to time, the "Credit
Agreement"). Terms defined in the Credit Agreement are used
herein with the same meanings.  Reference is made to the Credit
Agreement for provisions for the prepayment hereof and the
acceleration of the maturity hereof.

                         THE INTERPUBLIC GROUP OF COMPANIES, INC.

                              By: Alan M. Forster
                              Title: Vice President & Treasurer


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                    LOANS AND PAYMENTS OF PRINCIPAL


                              Amount of
          Amount    Type      Principal      Maturity  Notation
Date      of Loan   of Loan     Repaid       Date      Made By
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