Exhibit 99.3

                    The Interpublic Group of Companies, Inc.
                      Announces pricing of common stock and
            Series A mandatory convertible preferred stock offerings

The Interpublic Group of Companies, Inc. (NYSE: IPG) announced today that it has
priced its $627.4 million concurrent offerings of common stock and Series A
mandatory convertible preferred stock. The securities will be issued under the
company's existing shelf registration statement. Interpublic will issue
approximately 22.4 million shares of common stock at $13.50 per share and 6.5
million shares of 3-year Series A mandatory convertible preferred stock. The
mandatory convertible preferred stock will have a dividend yield of 5.375
percent. On maturity, each share of Series A mandatory convertible preferred
stock will convert, subject to adjustment, to between 3.0358 and 3.7037 shares
of common stock, depending on the then-current market price of the company's
common stock, representing a conversion premium of approximately 22 percent over
the stock price of $13.50 per share. Under certain circumstances, the Series A
mandatory convertible preferred stock may be converted prior to maturity at the
option of the holders or the company. In each offering, the underwriters have a
15% over-allotment option.

Interpublic intends to use the net proceeds from these financing activities to
redeem its 1.80% Convertible Subordinated Notes due 2004. Funds raised in the
offerings but not used in the offer to redeem will be used for general corporate
purposes and to further strengthen the company's balance sheet and financial
condition.

Citigroup, JPMorgan and UBS Investment Bank are acting as the joint book-running
managers for both the common stock offering and the Series A mandatory
convertible preferred stock offering. Copies of the prospectus supplement can be
obtained from Citigroup (Prospectus Department, 140 58th Street, Brooklyn, NY
11220, phone: (718) 765-6732), JPMorgan (Prospectus Hotline, phone: (212)
552-5164), and UBS Investment Bank (ECMG Syndication, 299 Park Avenue, New York,
NY 10171, phone: (212) 821-3000).

This press release shall not constitute an offer to sell or a solicitation of an
offer to buy shares of common stock or shares of Series A mandatory convertible
preferred stock. Shares of common stock or shares of Series A mandatory
convertible preferred stock will not be sold in any jurisdiction in which such
an offer, solicitation, or sale would be unlawful.

About Interpublic

Interpublic is one of the world's leading organizations of advertising agencies
and marketing services companies. Major global brands include Draft, Foote, Cone
& Belding Worldwide, Golin/Harris International, Initiative Media, Lowe &
Partners Worldwide, McCann-Erickson, Universal McCann and Weber Shandwick
Worldwide. Leading domestic brands include Campbell-Ewald, Deutsch and Hill
Holliday.

Cautionary Statement

This document contains forward-looking statements. Interpublic's representatives
may also make forward-looking statements orally from time to time. Statements in
this document that are not historical facts, including statements about
Interpublic's beliefs and expectations, particularly regarding recent business
and economic trends, the impact of litigation, dispositions, impairment charges,
the integration of acquisitions and restructuring costs, constitute
forward-looking statements. These statements are based on current plans,
estimates and projections, and are subject to change based on a number of
factors, including those outlined in this section. Forward-looking statements
speak only as of the date they are made, and Interpublic undertakes no
obligation to update publicly any of them in light of new information or future
events.

Forward-looking statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially from those
contained in any forward-looking statement. Such factors include, but are not
limited to, those associated with the effects of global, national and regional
economic and political conditions, Interpublic's ability to attract new clients
and retain existing clients, the financial success of Interpublic's clients,
developments from changes in the regulatory and legal environment for
advertising and marketing and communications services companies around the world
and the successful completion and integration of acquisitions which complement
and expand Interpublic's business capabilities.

Interpublic's liquidity could be adversely affected if Interpublic is unable to
access capital or to raise proceeds from asset sales. In addition, Interpublic
could be adversely affected by developments in connection with the purported
class actions and derivative suits that it is defending or the SEC investigation
relating to the restatement of its financial statements. Its financial condition
and future results of operations could also be adversely affected if Interpublic
recognizes additional impairment charges due to future events or in the event of
other adverse accounting-related developments.

At any given time, Interpublic may be engaged in a number of preliminary
discussions that may result in one or more acquisitions or dispositions. These
opportunities require confidentiality and from time to time give rise to bidding
scenarios that require quick responses by Interpublic. Although there is
uncertainty that any of these discussions will result in definitive agreements
or the completion of any transactions, the announcement of any of these
transactions may lead to increased volatility in the trading price of
Interpublic's securities.

The success of recent or contemplated future acquisitions will depend on the
effective integration of newly-acquired businesses into Interpublic's current
operations. Important factors for integration include realization of anticipated
synergies and cost savings and the ability to retain and attract new personnel
and clients.

Investors should evaluate any statements made by Interpublic in light of these
important factors.

CONTACT: For The Interpublic Group of Companies, Inc., New York

Press:
Philippe Krakowsky, (212) 399-8088
or
General Inquiries:
Julie Tu, (212) 445-8456
or
Analysts:
Dan Leib, (212) 621-5767

SOURCE: The Interpublic Group of Companies, Inc.