Convertible Bond Issue

WPP Group PLC
13 March 2002

Not for distribution in or into the United States.

WPP Group plc

For Immediate Release

13 March 2002

                     WPP Group plc - Convertible Bond Issue

WPP Group plc ("WPP") one of the leading communications services companies in
the world, announced today that it has launched an offering of £400 million of
Senior Unsecured Convertible Bonds due 2007 (the "Bonds"), convertible into
fully paid ordinary shares of WPP.

The Bonds will be priced at 100 per cent of the principal amount and will bear a
cash coupon of 2.00 per cent per annum. The initial conversion price is expected
to be set at a premium of between 40 per cent and 45 per cent to the price of
WPP's ordinary shares at the time of pricing. The yield to maturity is expected
to be between 3.00 per cent and 3.50 per cent. The final terms of the Bonds are
expected to be announced on 13 March 2002. Settlement of the issue is expected
to take place on or before 11 April 2002. Merrill Lynch International is acting
as sole financial adviser to WPP on this transaction and Joint Bookrunner with
Schroder Salomon Smith Barney.

In addition, WPP has granted the managers of the offering an over allotment
option of up to £50m of Bonds.

The net proceeds of the issue, after expenses, will be used primarily to
refinance existing bank facilities incurred for the acquisition of Tempus Group
PLC and also for general corporate purposes.

Application will be made for the Bonds to be admitted to the Official List of
the UK Listing Authority and to the London Stock Exchange plc for the Bonds to
be admitted to trading on the London Stock Exchange's market for listed
securities. The Bonds will be offered outside the United States in compliance
with Regulation S.



For further information please contact:

Feona McEwan at WPP

Tel: [phone]



STABILISATION/FSA

This press release has been issued by WPP Group plc and has been approved for
the purposes of Section 21 of the Financial Services and Markets Act 2000 by
Merrill Lynch International. Merrill Lynch International are acting for WPP
Group plc and no one else in connection with the offer of the Bonds and will not
be responsible to any other person for providing the protections afforded to
their respective clients, or for providing advice in relation to the proposed
offer.

These materials are not an offer of securities for sale into the United States
or elsewhere. The securities may not be offered or sold in the United States or
to, or for the account or benefit of, U.S. persons (as such term is defined in
Regulation S under the U.S. Securities Act of 1933 as amended) unless they are
registered or exempt from registration. There will be no public offer of
securities in the United States.



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