ENVOY ANNOUNCES RECORD YEAR END RESULTS Toronto, December 11, 2000 - Geoffrey Genovese, President and CEO of Envoy Communications Group (NASDAQ: ECGI / TSE: ECG) today announced the Company's financial results for the fiscal year ending September 30, 2000. Through both strong organic growth and strategic international acquisitions, Envoy's EBITDA increased 39% to $10 million and Net Revenue rose by 40% to $58.6 million. Over the course of the last year, Envoy's results have been driven by solid organic growth rates as well as through international, strategic acquisitions in each of its core disciplines - Design, Marketing and Technology. Envoy's focus on an expanded global presence, commitment to "best of breed" services, and efforts to integrate and cross sell its services are all directed at further improving the Company's organic growth rates. "2000 was yet another year of solid growth for Envoy," said Genovese. " This year Envoy achieved several impressive milestones: we hit our target of $10 million in EBITDA and exceeded our projection of a $100 million net revenue run rate for the business. Last year, we also stated our intent to expand geographically, specifically into the U.K. and Europe. This was accomplished through the addition of offices in London, Stockholm, Rome, Paris, Hamburg, and Leeds. In 2000, Envoy's Design Company, Watt International, continued its impressive track record of organic growth and expanded its international reach with new offices in San Francisco, Leeds, London, Paris, and Stockholm, now employing over 280 people. From its operations in New York and Toronto, Envoy's marketing discipline grew in 2000 and will be substantially enhanced with the recently announced acquisition of UK-based Leagas Delaney, one of the world's top-five creative agencies. With offices in London, Hamburg, Rome, Paris and San Francisco, Leagas Delaney brings a number of marquee, international clients and leading edge creative services to Envoy's marketing group and expands our staff compliment to over 475 people. The Leagas Delaney acquisition is scheduled to close by March 30, 2001. Envoy's technology discipline also experienced strong growth in 2000. Strong organic growth rates at its Devlin Design / Sage Consultants operation were a key indicator of the markets acceptance for our front-end and back-end e-business solutions. Envoys technology business now operates offices in Toronto and New York, employing over 100 professionals. Financial highlights (CDN $'000's) Effective with this year end report for fiscal 2000, Envoy now reports its net revenue (previously gross margin) as its first line item on its Income Statement and has removed gross revenue. This will enable analysts and our shareholders to better compare our company performance measures to our comparable competitors in the US market. As of September 30, 2000 2000 1999 % Change Net Revenue	 $58,606 $41,787 40% EBITDA $10,151 $7,280 39% Income Before Goodwill Amortization $4,504 $3,487 29% EBITDA / share FD $0.53 $0.49 8% Income / share before Goodwill Amortization $0.24 $0.24 NC Envoy (www.envoy.to) is an international company, committed to building "best-of-breed" services in each of its core disciplines: design, marketing and technology. Through the convergence of its core disciplines, the Envoy Communications Group of companies provides innovative business building solutions for marquis, international clients that include adidas-Salomon, BASF, CIBC, Castrol, CDNOW, FedEx, Hewlett Packard, Honda, Panasonic, Pizza Hut, Prudential (USA), Safeway, SalomonSmithBarney, Sprint Canada, Steelcase, TD Waterhouse (USA) and Wal-Mart. Envoy operates offices in New York, London, Paris, San Francisco, Rome, Hamburg, Stockholm, Leeds, and Toronto. Corporate Investor Relations: Jason Mandel (416) 599-2256, jasonm@envoy.to Media Relations: Darren Karasiuk (416) 593-4181 Ext. 405 darrenk@communique.to Envoy Communications Group Inc. Consolidated Balance Sheets (Unaudited - Prepared by management) September 30 September 30 As at 2000 1999 Assets Current assets: Cash	 $7,105,418 $15,300,454 Accounts receivable 34,234,974 27,910,032 Prepaid expenses 1,732,212 1,310,608 43,072,604 44,521,094 Restricted cash 832,337 545,982 Capital assets 10,448,625 7,869,486 Goodwill and other assets 46,987,707 22,186,265 Deferred income taxes 966,715 625,587 $102,307,988 $75,748,414 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and accrued liabilities $24,247,075 $27,713,688 Income taxes payable 1,190,313 1,698,638 Deferred revenue 1,044,873 - Amounts collected in excess of pass-through costs incurred 2,307,047 1,745,814 Current portion of long-term debt 2,848,430 1,827,086 31,637,738 32,985,226 Long-term debt 7,983,449 2,151,185 Shareholders' equity: Share capital 54,597,762 35,613,907 Retained earnings 8,403,367 5,492,940 Cummulative translation adjustment (314,328) (494,844) 62,686,801 40,612,003 $102,307,988 $75,748,414 Envoy Communications Group Inc. Consolidated Statements of Operations and Retained Earnings (Unaudited - Prepared by Management) For the years ended September 30 2000 1999 Net revenue $58,606,235 $41,787,125 Operating expenses: Salaries and benefits 35,132,814 25,710,153 General and administrative 10,769,853 6,918,465 Occupancy costs 2,552,854 1,878,090 48,455,521 34,506,708 Earnings before interest expense, income taxes, depreciation and goodwill amortization 10,150,714 7,280,417 Depreciation 1,986,691 1,444,110 Interest expense 407,473 346,515 Earnings before income taxes and goodwill amortization 7,756,550 5,489,792 Income taxes 3,252,354 2,002,995 Earnings before goodwill amortization	 4,504,196 3,486,797 Goodwill amortization, net of income taxes of $24,000 (1999-$11,000) 1,593,769 610,034 Net earnings $2,910,427 $2,876,763 Retained earnings, beginning of period 5,492,940 2,682,142 Less loss on redemption of shares - 65,965 Retained earnings, end of period $8,403,367 $5,492,940 Net earnings per share - basic $0.15 $0.20 Net earnings per share - fully diluted 0.15 0.20 Earnings per share before goodwill amortization - basic 0.24 0.24 Earnings per share before goodwill amortization - fully diluted 0.24 0.24 Envoy Communications Group Inc. Consolidated Statement of Cash Flows (Unaudited-Prepared by management) For the years ended September 30 2000 1999 Cash flows from operating activities: Net earnings $2,910,427 $2,876,763 Items not involving cash: Deferred income taxes (285,344) 76,000 Depreciation 1,986,691 1,444,110 Goodwill amortization	 1,617,769 621,034 Net changes in non-cash working capital balances: Accounts receivable 1,823,856 (1,395,987) Prepaid expenses 17,385 (397,950) Accounts payable and accrued liabilities (10,519,909) 229,132 Income taxes payable (787,622) 1,794,028 Deferred revenue 1,044,873 - Amounts collected in excess of pass-through costs incurred 518,410 (3,656,333) Other (9,783) 46,284 Net cash provided by (used in) operating activities (1,683,247) 1,637,081 Cash flows from financing activities: Long-term debt 5,198,442 5,000,000 Long-term debt repayments (5,497,140) (1,410,467) Issuance of common shares for cash 10,939,807 1,361,172 Redemption of common shares - (65,965) Reduction (Increase) in restricted cash (277,330) 187,718 Net proceeds from special warrant issue - 16,192,731 Net cash provided by financing activities 10,363,779 21,265,189 Cash flows from investing activities: Acquisition of subsidiaries (net of cash acquired (bank indebtedness assumed) of ($941,385); 1999 - $5,919,627) (14,640,994) (8,416,977) Purchase of capital assets (2,428,228) (2,017,796) Increase in other assets (67,356) (20,000) Net cash used in investing activities (17,136,578) (10,454,773) Change in cash balance due to foreign exchange 261,010 (267,201) (Decrease)/Increase in cash (8,195,036) 12,180,296 Cash, beginning of period 15,300,454 3,120,158 Cash, end of period $7,105,418 $15,300,454 Cash flow from operations per share: Basic $0.33 $0.34 Fully Diluted 0.33 0.34 Supplemental cash flow information: Interest paid $407,474 $334,229 Income taxes paid 3,489,185 68,774 Shares issued for non-cash consideration 6,850,311 3,691,800 Envoy Communications Group Inc. Consolidated Statements of Operations and Retained Earnings (Unaudited - Prepared by Management) 	 September 30 September 30 For the three months ended 2000 1999 Net revenue $19,247,267 $13,865,725 Operating expenses: Salaries and benefits 11,607,999 8,363,645 General and administrative 3,579,383 2,172,379 Occupancy costs 912,044 890,173 16,099,426 11,426,197 Earnings before interest expense, income taxes, depreciation and goodwill amortization 3,147,841 2,439,528 Depreciation 716,790 483,654 Interest expense 161,507 80,385 Earnings before income taxes and goodwill amortization 2,269,544 1,875,489 Income taxes 877,361 743,183 Earnings before goodwill amortization 1,392,183 1,132,306 Goodwill amortization, net of income taxes of $6,000 (1999-$11,000) 683,953 219,343 Net earnings $708,230 $912,963 Net earnings per share - basic $0.03 $0.06 Net earnings per share - fully diluted 0.03 0.06 Earnings per share before goodwill amortization - basic 0.07 0.07 Earnings per share before goodwill amortization - fully diluted 0.07 0.07 Envoy Communications Group Inc. Consolidated Statement of Cash Flows (Unaudited-Prepared by management) September 30 September 30 For the three months ended 2000 1999 Cash flows from operating activities: Net earnings $708,230 $912,963 Items not involving cash: Deferred income taxes (286,376) 588,910 Depreciation 716,790 483,654 Goodwill amortization 689,953 230,343 Net changes in non-cash working capital balances: Accounts receivable (2,699,210) 6,187,703 Prepaid expenses 644,045 (613,119) Accounts payable and accrued liabilities (5,148,624) (6,328,231) Income taxes payable 107,642 658,757 Deferred revenue 709,821 - Amounts collected in excess of pass-through costs incurred (1,162,254) (5,582,019) Other (9,783) 46,284 Net cash used in operating activities (5,729,766) (3,414,755) Cash flows from financing activities: Long-term debt 1,806,686 - Long-term debt repayments (3,717,510) 14,773 Issuance of common shares for cash 460,999 383,050 Reduction (Increase) in restricted cash 23,524 (178,032) Net proceeds from special warrant issue - 8,942,731 Net cash provided by (used in) financing activities (1,426,301) 9,162,522 Cash flows from investing activities: Acquisition of subsidiaries (net of cash acquired (bank indebtedness assumed) of ($75,354); 1999 - nil) (12,435,102) 259,417 Purchase of capital assets (663,208) (1,187,750) Increase in other assets (67,356) (20,000) Net cash used in investing activities (13,165,666) (948,333) Change in cash balance due to foreign exchange 182,570 46,209 (Decrease)/Increase in cash (20,139,163) 4,845,643 Cash, beginning of period 27,244,581 10,454,811 Cash, end of period $7,105,418 $15,300,454 Cash flow from operations per share: Basic $0.08 $0.15 Fully Diluted 0.08 0.15 Supplemental cash flow information: Interest paid $188,583 $73,181 Income taxes paid 585,341 267 Shares issued for non-cash consideration 2,138 -