<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
unaudited condensed consolidated Balance Sheet as of March 31, 1998 and the
unaudited condensed consolidated Statement of Income for the three months ended
March 31, 1998  of Grey Advertising Inc. and consolidated subsidiary companies
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                          97,139
<SECURITIES>                                    43,757
<RECEIVABLES>                                  653,690
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               903,054
<PP&E>                                         208,491
<DEPRECIATION>                                 118,334
<TOTAL-ASSETS>                               1,160,889
<CURRENT-LIABILITIES>                          841,830
<BONDS>                                         78,025
<PREFERRED-MANDATORY>                           10,459
<PREFERRED>                                          0
<COMMON>                                         1,487
<OTHER-SE>                                     156,596
<TOTAL-LIABILITY-AND-EQUITY>                 1,160,889
<SALES>                                        215,714
<TOTAL-REVENUES>                               215,714
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               205,190
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               3,200
<INCOME-PRETAX>                                 12,096
<INCOME-TAX>                                     6,504
<INCOME-CONTINUING>                              5,033
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     5,033
<EPS-PRIMARY>                                     4.50
<EPS-DILUTED>                                     3.91