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(ENVOY LOGO) ENVOY ANNOUNCES BOUGHT DEAL UNIT OFFERING TO RAISE $15 MILLION TORONTO, ON (April 26, 2004) Envoy Communications Group Inc. (Envoy) (TSX:
ECG; NASDAQ: ECGI) announced that it has entered into a bought deal
underwriting commitment to sell to the public 14,300,000 Units (the Units) at
C$1.05 per Unit, each Unit consisting of one common share of Envoy (the Common
Shares) and one half of one transferable common share purchase warrant (the
Warrants). Each whole Warrant will entitle the holder to purchase one Common
Share at a price of C$1.80 per Common Share for a period ending on February 20,
2009 and will have substantially the same terms as the Warrants issued in
Envoys previous Unit offering on February 20, 2004. The sale of the
14,300,000 Units will result in Envoy receiving gross proceeds of approximately
C$15 million. Envoy has also granted its underwriter an over-allotment option
to purchase an additional 2,145,000 Units at C$1.05 per Unit for a period of 60
days from the closing of the offering, which is expected to occur in early May
2004. Envoy has also engaged its underwriter as its agent to sell up to 14,300,000
additional units at C$1.05 per unit on a best efforts basis to raise additional
gross proceeds of up to approximately C$15,000,000, with a corresponding
over-allotment option to purchase up to an additional 2,145,000 units at C$1.05
per unit for a period of 60 days from the closing of the offering. The net proceeds of the Unit offering will be used for general corporate
purposes and potential acquisition and investment opportunities that the
Company determines have potential to create value for Envoy shareholders and
that either complement or provide an opportunity to diversify the current
business of Envoy. Management has identified certain potential acquisition and
investment opportunities for further evaluation, although the Company currently
has no agreement or commitment with respect to any specific transaction and is
not yet negotiating any such transaction. The securities offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be any sale of
the securities in any State in which such offer, solicitation or sale would be
unlawful.




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About Envoy Envoy Communications Group (NASDAQ: ECGI / TSX: ECG) is an international
consumer and retail branding company with offices throughout North America and
Europe. For more information on Envoy visit www.envoy.to. Cautionary Statement Certain statements contained in this press release may constitute
forward-looking statements within the meaning of Section 21E(i)(1) of the
United States Securities Exchange Act of 1934. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that may cause
Envoys actual results to be materially different from any future results
expressed or implied by these statements. Such factors include the following:
general economic and business conditions, changes in demand for Envoys
services, changes in competition, the ability of Envoy to integrate
acquisitions or complete future acquisitions, interest rate fluctuations,
currency exchange rate fluctuations, dependence upon and availability of
qualified personnel and changes in government regulation. In light of these and
other uncertainties, the forward-looking statements included in this press
release should not be regarded as a representation by Envoy that Envoys plans
and objectives will be achieved. These forward-looking statements speak only
as of the date of this press release, and Envoy undertakes no obligation to
update or revise the statements. For further information, please call:
Envoy Communications Group Inc.
Contact: Geoffrey Genovese
Tel: (416) 593-1212