<ARTICLE> 5
<LEGEND>
           GREY ADVERTISING INC. & CONSOLIDATED SUBSIDIARY COMPANIES
                            FINANCIAL DATA SCHEDULE
                                 EXHIBIT - 27


THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 1996 AND THE
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF INCOME FOR THE THREE AND SIX MONTH
PERIODS ENDED JUNE 30, 1996 OF GREY ADVERTISING INC. AND CONSOLIDATED SUBSIDIARY
COMPANIES AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL 
STATEMENTS.

</LEGEND>
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                          65,331
<SECURITIES>                                    23,144
<RECEIVABLES>                                  514,403
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               704,963
<PP&E>                                         173,426
<DEPRECIATION>                                  96,513
<TOTAL-ASSETS>                                 928,875
<CURRENT-LIABILITIES>                          703,483
<BONDS>                                         33,025  
<PREFERRED-MANDATORY>                            9,302
<PREFERRED>                                          0
<COMMON>                                         1,432  
<OTHER-SE>                                     133,098
<TOTAL-LIABILITY-AND-EQUITY>                   928,875
<SALES>                                        360,010
<TOTAL-REVENUES>                               360,010
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               335,341
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               4,900
<INCOME-PRETAX>                                 29,798
<INCOME-TAX>                                    15,611
<INCOME-CONTINUING>                             13,070
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    13,070
<EPS-PRIMARY>                                     9.72
<EPS-DILUTED>                                     9.39