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Volume 24 No. 156
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AD AGENCIES ARE LIKELY TO POST STRONG EARNINGS

     Ad agency holding companies "are expected to report robust
earnings growth" in the 4thQ because of a "surge in spending" by
major U.S. advertisers and early signs of an "overseas recovery."
While "perennially big advertisers" such as car and computer
companies continued to spend heavily, spending also increased for
many packaged-goods companies that had "retrenched several years
ago."  The companies expected to post gains:  Interpublic Group -
- the parent of McCann-Erickson and Lowe Group, True North
Communications -- the parent of FCB/Leber Katz, and Omnicom Group
-- the parent of BBDO, DDB Needham and TBW Advertising (Fara
Warner, WALL STREET JOURNAL, 1/30).