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(LOGO) ENVOY COMMUNICATIONS GROUP INC. ANNOUNCES FISCAL 2004 RESULTS TORONTO, ON  UNDER EMBARGO UNTIL FEBRUARY 7th, 2005 AT 8:30 A.M. Fiscal 2004
has been a successful year for Envoy Communications Group Inc. However, as a result of several
one-time charges (imputed interest, refinancing costs, loss on discontinued operation etc.) our
fiscal 2004 earnings do not reflect the success that Envoy has achieved during this period. One of our major achievements during fiscal 2004 was the $66.5 million raised in two equity
financings. This capital injection significantly strengthened Envoys balance sheet and enabled
Envoy to eliminate virtually all of its debt. It also established a strong foundation for future
growth. With over $45 million in cash available for investment and acquisitions, Envoy will now be
able to realize its strategic acquisition and investment plan, which includes the acquisition of
companies that will be synergistic with our current business in the United Kingdom and North
America. Envoy will be announcing its 2005 first quarter results on February 14, 2005. We are very excited about our prospects for 2005 and beyond. Envoy also announces that the effective date for post consolidation trading of its shares is
Thursday February 10, 2005. Updated for repurchases and cancellations in January the number of
Envoy common shares outstanding prior to consolidation is 112,539,318 and post consolidation is
expected to be approximately 22,507,864. The earnings per share figures presented are after giving
effect to the reverse stock split. 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. ###




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Financial Highlights  Envoy Communications Group Inc.
Consolidated Income Statement highlights
(Expressed In Canadian dollars)
(Unaudited  Prepared by Management)
   For the twelve months ended:
    
    September 30
    
    September 302004
    
    2003Net revenue
    
    $
    40,802,790
    
    
    $
    40,853,283Operating expenses:Salaries and benefits
    
    
    27,672,600
    
    
    
    26,858,508General and administrative
    
    
    7,041,213
    
    
    
    5,889,962Occupancy costs
    
    
    3,012,394
    
    
    
    3,060,59037,726,207
    
    
    
    35,809,060Depreciation
    
    
    2,425,912
    
    
    
    2,370,934Investment earnings
    
    
    (406,683
    )
    
    
    Accreted interest imputed on warrants and debentures
    
    
    2,552,991
    
    
    
    718,321Interest expense and financing costs
    
    
    995,601
    
    
    
    1,989,36643,294,028
    
    
    
    40,887,681Loss before restructuring costs recovery, gain on disposal of
subsidiary, income taxes and discontinued operations
    
    
    (2,491,238
    )
    
    
    (34,398
    )Restructuring costs recovery
    
    
    
    
    
    
    267,212Gain on disposal of subsidiary
    
    
    
    
    
    
    2,499,604(Loss) income before income taxes and discontinued
operations
    
    
    (2,491,238
    )
    
    
    2,732,418Income tax expense
    
    
    150,424
    
    
    
    238,404(Loss) income from continuing operations
    
    
    (2,641,662
    )
    
    
    2,494,014(Loss) income from discontinued operations, net of income taxes
    
    
    (465,142
    )
    
    
    44,748Net (loss) earnings
    
    $
    (3,106,804
    )
    
    $
    2,538,762(Loss) earnings per share(after giving effect to reverse stock split)Basic
    
    $
    (0.18
    )
    
    $
    0.59Diluted
    
    $
    (0.18
    )
    
    $
    0.43Weighted average number of common shares outstandingBefore giving effect to the reverse split
    
    
    85,310,762
    
    
    
    21,674,064After giving effect to the reverse split
    
    
    17,062,152
    
    
    
    4,334,813




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Envoy Communications Group Inc.
Consolidated Balance Sheet highlights
(Expressed In Canadian dollars)
(Unaudited  Prepared by Management)
 As at:
    
    September 30
    
    September 302004
    
    2004Current assets
    
    $
    59,258,764
    
    
    $
    18,843,965Long-term assets
    
    
    29,620,763
    
    
    
    19,122,798$
    88,879,527
    
    
    $
    37,966,763Current liabilities
    
    $
    11,626,798
    
    
    $
    20,703,891Long-term liabilities
    
    
    361,230
    
    
    
    4,904,36911,988,028
    
    
    
    25,608,260Shareholders equity
    
    
    76,891,499
    
    
    
    12,358,503$
    88,879,527
    
    
    $
    37,966,763




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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 we undertake no obligation to update or revise the statements. For further information, please call:
Envoy Communications Group Inc.
Contact: Geoffrey Genovese
Tel: (416) 593-1212 Or contact our investor relations department at: info@envoy.to