SEC REQUESTS OMNICOM INFORMATION

Wants Data Related to Resignation of Two Board Members

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NEW YORK (AdAge.com) -- Omnicom Group late today said the Securities and Exchange Commission made an "informal request" for information related to the previously reported resignations of two board members and switch in accounting firms.

Omnicom said it voluntarily provided the SEC with the information, which involves the resignations of board members Robert J. Callander and Richard I. Beattie and its move from Arthur Andersen to KPMG.

Switched auditors
The directors resigned May 22

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and Jan. 28, respectively. The ad agency holding company switched auditors last week.

Omnicom said the SEC's request "was not unusual and was anticipated by the company following last week's press reports." Omnicom added that the materials it provided "confirmed its prior information on these topics." Omnicom said it is posting more related information on its Web site (omnicomgroup.com).

WSJ story impacts stock
Omnicom's stock skidded last week after a Wall Street Journal story reviewed various matters including Omnicom's accounting practices.

Omnicom stock closed June 17 at $56, up 95 cents on high volume. Omnicom made its announcement regarding the SEC inquiry after markets closed.

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