Cordiant Communications Group PLC ('Cordiant')

Acquisition of Gallagher & Kelly Public Relations Limited



Apr 03, 2001, 01:00 ET from Cordiant

    LONDON, April 3 /PRNewswire/ -- Cordiant (NYSE:   CDA) (London: CRI), the
 global marketing communications group, today announces that it has acquired
 100% of Gallagher & Kelly Public Relations Limited ("Gallagher & Kelly"), a
 leading business communications consultancy in Ireland.
     Based in Dublin, Gallagher & Kelly provides clients with a range of
 corporate communications services, including media relations, public affairs,
 investor relations, crisis and strategic management advice and corporate brand
 communications.  The company advises and represents a wide range of leading
 domestic and international clients, including Coca Cola, Dell, Microsoft, Bank
 of Ireland, Eircom Ireland, Eircell, Aer Rianta and Analog Devices.
     Gallagher & Kelly will become part of Cordiant's Business Communications
 International ("BCI") network.  BCI's global network includes operations in
 London, New York, Boston, San Francisco, Frankfurt and Paris.  The acquisition
 of Gallagher & Kelly gives BCI a leading presence in the Irish market, from
 which an increasing number of multinational companies are seeking to access
 international markets.
     The acquisition fits Cordiant's strategic priorities of building its
 business in high growth marketing sectors, and strengthening its leadership
 position in business communications.
     The initial consideration of 7.1 million Irish pounds (5.6 million pounds
 sterling) has been satisfied by the issue of 2,226,907 new Cordiant shares.
 Admission of the new Cordiant shares to the London Stock Exchange was granted
 by the UK Listing Authority on 30 March 2001 and dealings are expected to
 commence on 3 April 2001.  A maximum total consideration of IR 12.0 million
 pounds (9.5 million pounds sterling) may be payable depending on Gallagher &
 Kelly's financial performance to December 2003.
 
     Michael Bungey, CEO of Cordiant commented:
     "The acquisition of Gallagher & Kelly strengthens BCI's global capability
 and its position as a market leader.  This is an exciting opportunity with
 which to expand BCI's international presence and confirms Cordiant's
 continuing commitment to servicing clients' communication needs on a global
 basis."
 
     Nick Miles, CEO of BCI commented:
     "We know Gallagher & Kelly well and have found them to be highly
 professional and ambitious for their clients.  Together, Gallagher & Kelly
 alongside Financial Dynamics will be the clear domestic market leader.
 Outside Ireland, we have far-reaching plans to develop our US client business
 and expand our European reach."
 
 

SOURCE Cordiant
    LONDON, April 3 /PRNewswire/ -- Cordiant (NYSE:   CDA) (London: CRI), the
 global marketing communications group, today announces that it has acquired
 100% of Gallagher & Kelly Public Relations Limited ("Gallagher & Kelly"), a
 leading business communications consultancy in Ireland.
     Based in Dublin, Gallagher & Kelly provides clients with a range of
 corporate communications services, including media relations, public affairs,
 investor relations, crisis and strategic management advice and corporate brand
 communications.  The company advises and represents a wide range of leading
 domestic and international clients, including Coca Cola, Dell, Microsoft, Bank
 of Ireland, Eircom Ireland, Eircell, Aer Rianta and Analog Devices.
     Gallagher & Kelly will become part of Cordiant's Business Communications
 International ("BCI") network.  BCI's global network includes operations in
 London, New York, Boston, San Francisco, Frankfurt and Paris.  The acquisition
 of Gallagher & Kelly gives BCI a leading presence in the Irish market, from
 which an increasing number of multinational companies are seeking to access
 international markets.
     The acquisition fits Cordiant's strategic priorities of building its
 business in high growth marketing sectors, and strengthening its leadership
 position in business communications.
     The initial consideration of 7.1 million Irish pounds (5.6 million pounds
 sterling) has been satisfied by the issue of 2,226,907 new Cordiant shares.
 Admission of the new Cordiant shares to the London Stock Exchange was granted
 by the UK Listing Authority on 30 March 2001 and dealings are expected to
 commence on 3 April 2001.  A maximum total consideration of IR 12.0 million
 pounds (9.5 million pounds sterling) may be payable depending on Gallagher &
 Kelly's financial performance to December 2003.
 
     Michael Bungey, CEO of Cordiant commented:
     "The acquisition of Gallagher & Kelly strengthens BCI's global capability
 and its position as a market leader.  This is an exciting opportunity with
 which to expand BCI's international presence and confirms Cordiant's
 continuing commitment to servicing clients' communication needs on a global
 basis."
 
     Nick Miles, CEO of BCI commented:
     "We know Gallagher & Kelly well and have found them to be highly
 professional and ambitious for their clients.  Together, Gallagher & Kelly
 alongside Financial Dynamics will be the clear domestic market leader.
 Outside Ireland, we have far-reaching plans to develop our US client business
 and expand our European reach."
 
 SOURCE  Cordiant