Result Convertible Bond Issue

WPP Group PLC
13 March 2002

Not for distribution in or into the United States.

WPP Group plc

13 March 2002

   WPP Group plc successfully completes Convertible Bond Issue to raise £400
                                    million

WPP Group plc ("WPP") one of the leading communications services companies in
the world, announces that the terms for its £400m Senior Unsecured 2 per cent
Convertible Bonds due 2007 (the "Bonds") have been fixed as follows:


  • initial conversion price has been set at 1075 pence per share, which
    represents a 45 per cent premium over the VWAP reference price of 741.6
    pence; and

  • the redemption price has been set at 105.35 per cent giving a yield to
    maturity of 3 per cent.

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.

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

Merrill Lynch International is acting as sole financial adviser to WPP on this
transaction and Joint Bookrunner with Schroder Salomon Smith Barney.



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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