<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, 1998 AND THE
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF INCOME FOR THE NINE MONTHS ENDED
SEPTEMBER 30, 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>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                         132,839
<SECURITIES>                                    43,613
<RECEIVABLES>                                  675,356
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               964,667
<PP&E>                                         229,981
<DEPRECIATION>                                 128,697
<TOTAL-ASSETS>                               1,249,362
<CURRENT-LIABILITIES>                          916,311
<BONDS>                                         78,025
<PREFERRED-MANDATORY>                           10,209
<PREFERRED>                                          0
<COMMON>                                         1,488
<OTHER-SE>                                     163,870
<TOTAL-LIABILITY-AND-EQUITY>                 1,249,362
<SALES>                                        683,090
<TOTAL-REVENUES>                               683,090
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               641,728
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              11,748
<INCOME-PRETAX>                                 46,213
<INCOME-TAX>                                    23,524
<INCOME-CONTINUING>                             19,380
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    19,380
<EPS-PRIMARY>                                    15.86
<EPS-DILUTED>                                    14.37