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(ENVOY LOGO) ENVOY COMMUNICATIONS GROUP INC. ANNOUNCES FISCAL 2005
SECOND QUARTER RESULTS TORONTO, ON  May 10, 2005 Envoy Communications Group Inc. (NASDAQ;ECGI, TSX:ECG) today
announced its financial results for its second quarter and six months ended March 31, 2005. Revenue for the quarter increased 6% to $11.2 million compared to $10.6 million for the second
quarter of 2004. Revenue this quarter compared to last quarter increased by 12%. Net earnings for
this quarter was $0.8 million, or $0.04 per common share, compared to a net loss of ($3.6) million,
or ($0.30) per common share for the same period last year. Envoy completed the acquisition of Parker Williams Design Limited in the United Kingdom at the
beginning of March and was, therefore, only included in our results for one month. For the six months ended March 31, 2005, revenues increased 8% to $21.2 million, versus revenues of
$19.6 million for the same period last year. Net earnings were $1.5 million or $0.06 per common
share, compared to a net loss of ($4.1) million or ($0.40) per common share for the same period
last year. Our investment income for the six months ended March 31, 2005 was $1.5 million. Envoys subsidiaries, Watt International and Watt Gilchrist continue to acquire new accounts. In
our second quarter, they were awarded $3.0 million in new business contracts in the following
sectors: food and beverage, shopping center, packaged goods, fashion, jewelry, department store,
publishing and foodservice. Remarkably, these new business wins span six countries including China, England, the United Arab
Emirates, Chile, Canada and the United States. The results of these new accounts will begin to
positively impact our third and fourth quarters, said Geoffrey Genovese, CEO of Envoy
Communications Group Inc. We are on track with our guidance of $0.20 per share for the current fiscal year. Our earnings
have traditionally been heavily weighted to the last half of the year, in particular our earnings
will be strongest in the last quarter of this year, said Genovese. In the first six months of this fiscal year, Envoy repurchased 1,457,336 shares under its normal
course issuer bid program. This resulted in a total of 21,959,264 shares outstanding as of March
31, 2005.




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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 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




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Financial HighlightsEnvoy Communications Group Inc.
Consolidated Statements of Operations
Unaudited  Prepared by Management
(Expressed In Canadian dollars)
 For the six months ended:
    
    March 31
    
    
    March 312005
    
    
    2004Net revenue
    
    $
    21,216,530
    
    
    $
    19,625,938Operating expenses:Salaries and benefits
    
    
    14,113,614
    
    
    
    13,357,627General and administrative
    
    
    4,006,262
    
    
    
    3,571,930Occupancy costs
    
    
    1,950,252
    
    
    
    1,409,66820,070,128
    
    
    
    18,339,225Depreciation
    
    
    1,204,042
    
    
    
    1,162,973Investment earnings
    
    
    (1,502,555
    )
    
    
    (49,465
    )Accreted interest imputed on warrants and debentures
    
    
    
    
    
    
    2,552,991Interest expense (income) and financing costs
    
    
    (21,846
    )
    
    
    991,10019,749,769
    
    
    
    22,996,824Earnings (loss) before income taxes, minority interest
and discontinued operations
    
    
    1,466,761
    
    
    
    (3,370,886
    )Income tax expense
    
    
    
    
    
    
    215,121Earnings (loss) before minority interest and
discontinued operations
    
    
    1,466,761
    
    
    
    (3,586,007
    )Minority interest
    
    
    8,012
    
    
    
    Earnings (loss) from continuing operations
    
    
    1,458,749
    
    
    
    (3,586,007
    )Income from discontinued operations, net of income taxes
    
    
    
    
    
    
    (465,142
    )Net earnings (loss)
    
    $
    1,458,749
    
    
    $
    (4,051,149
    )Earnings (loss) per shareBasic
    
    $
    0.06
    
    
    $
    (0.40
    )Diluted
    
    
    0.06
    
    
    
    (0.40
    )Weighted average number of common shares outstanding
    
    
    22,705,236
    
    
    
    10,031,191
   Envoy Communications Group Inc.
Consolidated Statements of Deficit
Unaudited  Prepared by Management
(Expressed In Canadian dollars)
 For the six months ended:
    
    March 31
    
    
    March 312005
    
    
    2004Deficit, beginning of period
    
    $
    (48,344,277
    )
    
    $
    (45,237,473
    )Net earnings (loss)
    
    
    1,458,749
    
    
    
    (4,051,149
    )Deficit, end of period
    
    $
    (46,885,528
    )
    
    $
    (49,288,622
    )




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Envoy Communications Group Inc.
Consolidated Balance Sheet highlights
Unaudited  Prepared by Management
(Expressed In Canadian dollars)
 As at:
    
    March 31
    
    
    September 302005
    
    
    2004Current assets
    
    $
    37,533,458
    
    
    $
    59,258,764Long-term assets
    
    
    49,116,953
    
    
    
    29,620,76386,650,411
    
    
    
    88,879,527Current liabilities
    
    
    12,277,745
    
    
    
    11,626,798Long-term liabilities
    
    
    297,831
    
    
    
    361,23012,575,576
    
    
    
    11,988,028Minority interest
    
    
    175,339
    
    
    
    Shareholders equity
    
    
    73,899,496
    
    
    
    76,891,499$
    86,650,411
    
    
    $
    88,879,527




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Envoy Communications Group Inc.
Consolidated Statements of Operations
Unaudited  Prepared by Management
(Expressed In Canadian dollars)
 For the three months ended:
    
    March 31
    
    
    March 312005
    
    
    2004Net revenue
    
    $
    11,227,895
    
    
    $
    10,584,234Operating expenses:Salaries and benefits
    
    
    7,342,214
    
    
    
    7,537,871General and administrative
    
    
    2,186,345
    
    
    
    1,764,766Occupancy costs
    
    
    1,008,985
    
    
    
    717,19710,537,544
    
    
    
    10,019,834Depreciation
    
    
    620,605
    
    
    
    585,771Investment Earnings
    
    
    (487,038
    )
    
    
    (49,465
    )Accreted interest imputed on warrants and debentures
    
    
    
    
    
    
    2,302,111Interest expense (income) and financing costs
    
    
    (29,945
    )
    
    
    603,97110,641,166
    
    
    
    13,462,222Earnings (loss) before income taxes, minority
interest and discontinued operations
    
    
    586,729
    
    
    
    (2,877,988
    )Income taxes
    
    
    (233,402
    )
    
    
    215,121Earnings (loss) before minority interest and discontinued operations
    
    
    820,131
    
    
    
    (3,093,109
    )Minority interest
    
    
    8,012
    
    
    
    Earnings (loss) before discontinued operations
    
    
    812,119
    
    
    
    (3,093,109
    )Loss from discontinued operations, net of income taxes
    
    
    
    
    
    
    (465,576
    )Net earnings (loss)
    
    $
    812,119
    
    
    $
    (3,558,685
    )Earnings per shareBasic
    
    $
    0.04
    
    
    $
    (0.30
    )Diluted
    
    
    0.04
    
    
    
    (0.30
    )Weighted average number of common shares outstanding
    
    
    22,329,631
    
    
    
    11,795,962
   Envoy Communications Group Inc.
Consolidated Statements of Deficit
Unaudited  Prepared by Management
(Expressed In Canadian dollars)
 For the three months ended:
    
    March 31
    
    
    March 312005
    
    
    2004Deficit, beginning of period
    
    $
    (47,697,647
    )
    
    $
    (46,309,785
    )Net earnings (loss)
    
    
    812,119
    
    
    
    (3,558,685
    )Deficit, end of period
    
    $
    (46,885,528
    )
    
    $
    (49,868,470
    )