Document:

EXHIBIT 4.6

                            DEBT TRANSFER AGREEMENT

                              DATED 26th June, 2003

                                    BETWEEN

                       Cordiant Communications Group plc
                                 as the Company

                                     -and-

                             Cordiant Finance, Inc.
                               as the Note Issuer

                                     -and-

              Cerberus Partners, L.P. and Deutsche Bank AG, London
                        as Transferring Finance Parties

                                     -and-

                                 HSBC Bank plc
                                    as Agent

                                      and

                              WPP No. 2337 Limited
                                  as Purchaser

                                     -and-

                                 WPP Group plc
                                  as Guarantor

                                 ALLEN & OVERY

                                     London

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                                    CONTENTS

Clause                                                               Page

1.   Interpretation.....................................................1
2.   Transfer Agreement.................................................4
3.   Payment............................................................5
4.   Release............................................................6
5.   Co-operation.......................................................6
6.   Confidentiality....................................................6
7.   Transferring Finance Party representations.........................8
8.   Guarantor/Purchaser Representations................................9
9.   Changes to the Parties............................................10
10.  Default interest..................................................10
11.  VAT...............................................................11
12.  Guarantee and indemnity...........................................11
13.  Miscellaneous.....................................................13
14.  Notices...........................................................15
15.  Language..........................................................16
16.  Severability......................................................16
17.  Waivers and remedies cumulative...................................16
18.  Counterparts......................................................17
19.  Governing law.....................................................17
20.  Enforcement.......................................................17

Schedule

1.   Transferring Finance Parties......................................18
2.   Form of Substitution Certificate..................................20
3.   Account Details...................................................26
4.   Form of Accession Letter..........................................27
5.

Signatories............................................................28

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THIS DEBT TRANSFER AGREEMENT is dated 26th June, 2003 between:

(1)  Cordiant   Communications   Group  plc  (registered  number  1320869)  (the
     Company);

(2)  Cordiant  Finance,  Inc (the Note  Issuer) as issuer of the Notes under the
     Note Purchase Agreement;

(3)  CERBERUS  PARTNERS,  L.P.  as  transferring  noteholder  (the  Transferring
     Noteholder);

(4)  DEUTSCHE BANK AG, LONDON as transferring bank (the Transferring Bank);

(5)  HSBC Bank plc as agent bank under the Credit  Agreement (in this  capacity,
     the Agent);

(6)  WPP NO. 2337 LIMITED (registered number 4679453) (the Purchaser); and

(7)  WPP Group plc (registered number 1003653) (the Guarantor).

1.   Interpretation

1.1  Definitions

     In this Agreement:

     Bank Debt means the Debt owed to the Transferring Bank.

     Bank Finance Documents has the meaning given to it in the Credit Agreement.

     Business  Day means a day (other  than a Saturday or Sunday) on which banks
     are open for general business in London and New York City.

     Common  Security  Trust Deed means the trust  deed dated 19th  April,  2002
     between  amongst others,  the Company,  the holders of the Notes set out in
     Part B of  Schedule 3 thereto,  the Common  Security  Trustee  (as  defined
     therein) and the Agent.

     Completion Date means 1st July, 2003.

     Consideration means the amounts agreed between the Purchaser, the Guarantor
     and the Transferring Noteholder in the pricing letter between those parties
     dated the same date as this Agreement.

     Contribution has the meaning given to the term in the Credit Agreement.

     Credit Agreement means the (pound)155,871,146.52 credit agreement dated 4th
     July, 2000 between (among others) the Company and HSBC Bank plc (as amended
     and restated pursuant to a restructuring deed dated 19th April, 2002).

     Creditor has the meaning given to that term in the Intercreditor Agreement.

     Debt means all  Liabilities  payable or owing by any member of the Group to
     the  Transferring  Finance  Parties under or in connection with any Finance
     Document.

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     Finance Document means a Bank Finance Document or a Note Finance Document.

     Finance Party has the meaning given to that term in the Credit Agreement.

     Group means the Company and its Subsidiaries.

     Intercreditor  Agreement  has the meaning  given to that term in the Credit
     Agreement.

     Interest  Component means the amount of accrued  interest under the Finance
     Documents owing to the Transferring Finance Parties on the Completion Date.

     Liability  means any present or future  liability  (actual or  contingent),
     together  with:

     (a)  any further advance which may be made under any agreement expressed to
          be supplemental to any document in respect of that liability, together
          with all related  interest,  fees and costs;

     (b)  any claim for damages or  restitution  in the event of  rescission  of
          that  liability  or  otherwise;  and

     (c)  any claim  flowing  from any  recovery  by a payment or  discharge  in
          respect of that liability on grounds of preference or otherwise.

     Note  Purchase  Agreement  means the Amended  and  Restated  Note  Purchase
     Agreement dated as of April 19, 2002, among the Note Issuer, as issuer, the
     Company, as parent guarantor and the holders of the Notes party thereto.

     Noteholder Debt means Debt owed to the Transferring Noteholder.

     Notes has the meaning given to it in the Note Purchase Agreement.

     Notes  Finance  Documents  means the "Finance  Documents" as defined in the
     Note Purchase Agreement.

     Obligor  means  any  member  of the  Group  which is a party  to a  Finance
     Document.

     Party means a party to this Agreement.

     Principal  Debt with  respect to a  Transferring  Finance  Party  means the
     principal amount of indebtedness  owed to that  Transferring  Finance Party
     under the  Credit  Agreement  as at the  Completion  Date or the  principal
     amount of indebtedness owed to that  Transferring  Finance Party in respect
     of the Notes and the Note Purchase  Agreement as at the Completion Date, as
     applicable, in each case excluding:

     (a)  accrued  or  capitalised  interest  (if any);

     (b)  any fees,  costs or  expenses;

     (c)  any penalty,  liquidated damages, prepayment or make-whole amounts; or

     (d)  any other amount which is not in the nature of principal.

     Receiving  Account means the account details for the  Transferring  Finance
     Parties as set out in Schedule 3 (Account Details).

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     Security  Trust  Deed  has the  meaning  given to that  term in the  Credit
     Agreement.

     Subsidiary  of a person means any company or entity  directly or indirectly
     controlled  by such  person or any entity  (whether  or not so  controlled)
     treated as a subsidiary  in the  financial  statements  of that person from
     time to time, for which purpose control means either ownership of more than
     50 per cent. of the voting share capital (or equivalent right of ownership)
     of such  company  or  entity  or the  right to  control  its  policies  and
     management  whether by  contract  or  otherwise  (and  controlled  shall be
     construed  accordingly)  and includes a subsidiary  undertaking  within the
     meaning of section 258 of the Companies Act 1985.

     Substitution  Certificate  means a global  certificate in substantially the
     form of Schedule 2 (Form of  Substitution  Certificate).  The  Substitution
     Certificate is a "Substitution  Certificate" for the purposes of the Credit
     Agreement.

     Total  Principal  Debt means the aggregate of the Principal Debt for all of
     the  Transferring  Finance  Parties,  being the aggregate of the indicative
     amounts set out in Schedule 1 (Transferring Finance Parties) as at the date
     of this  Agreement  (as reduced by any  repayments of such  Principal  Debt
     between the date of this Agreement and the Completion Date).

     Transfer  means the transfer  and novation of the Debt by the  Transferring
     Finance  Parties to the Purchaser in accordance  with this  Agreement,  the
     Substitution Certificate and the Finance Documents.

     Transferring  Finance  Party  means  the  Transferring  Noteholder  or  the
     Transferring Bank.

1.2     Construction

(a)     In this Agreement,  unless the contrary  intention  appears, a reference
        to:

        (i)     an amendment  includes a supplement,  novation,  restatement  or
                re-enactment and amended will be construed accordingly;

        (ii)    assets  includes  present and future  properties,  revenues  and
                rights (including contractual rights) of every description;

        (iii)   anauthorisation  includes an authorisation,  consent,  approval,
                resolution,   licence,   exemption,   filing,   registration  or
                notarisation;

        (iv)    disposal means a sale, transfer, grant, lease or other disposal,
                whether voluntary or involuntary,  and dispose will be construed
                accordingly;

        (v)     indebtedness   includes  any  obligation  (whether  incurred  as
                principal or as surety) for the payment or repayment of money;

        (vi)    a person includes any  individual,  company,  limited  liability
                company,   corporation,   unincorporated   association  or  body
                (including a  partnership,  limited  partnership,  trust,  joint
                venture or consortium),  government, state, agency, organisation
                or  other   entity   whether  or  not  having   separate   legal
                personality;

        (vii)   a regulation includes any regulation,  rule, official directive,
                request  or  guideline  (whether  or not having the force of law
                but, if not having the force of law,  being of a type with which
                any person to which it applies is accustomed to comply) of any

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                governmental,  inter-governmental or supranational body, agency,
                department or regulatory,  self-regulatory or other authority or
                organisation;

        (viii)  a currency is a reference  to the lawful  currency  for the time
                being of the relevant country;

        (ix)    a provision of law is a reference to that provision as extended,
                applied,  amended or  re-enacted  and includes  any  subordinate
                legislation;

        (x)     a Clause, a Subclause, paragraph, sub-paragraph or a Schedule is
                a reference to a clause,  subclause,  paragraph or sub-paragraph
                of, or a schedule to, this Agreement;

        (xi)    a Party or any other person  includes its  successors  in title,
                permitted assigns and permitted transferees;

        (xii)   a Finance  Document,  this  Agreement  or another  document is a
                reference  to that  Finance  Document,  this  Agreement or other
                document as amended; and

        (xiii)  a time of day is a reference to London time.

(b)     Unless  expressly  provided to the contrary in this Agreement,  a person
        who is not a party to this  Agreement  may not  enforce any of its terms
        under  the   Contracts   (Rights  of  Third   Parties)   Act  1999  and,
        notwithstanding  any term of this  Agreement,  no  consent  of any third
        party is required for any variation (including any release or compromise
        of any liability) or termination of this Agreement.

(c)     Unless the  contrary  intention  appears a reference to a Party will not
        include that Party if it has ceased to be a Party under this Agreement.

(d)     The headings in this Agreement do not affect its interpretation.

2.     TRANSFER AGREEMENT

2.1     Agreement

(a)     Each Transferring  Finance Party hereby agrees to sell and the Purchaser
        hereby agrees to purchase on the Completion Date all (but not part only)
        of that Transferring Finance Party's participation in all of the Debt in
        consideration  of the Purchaser's  payment to the  Transferring  Finance
        Parties of the Consideration.

(b)     This Agreement is effective on the date of this Agreement.

(c)     Completion of the Transfer and payment of the  Consideration  under this
        Agreement  shall take place on the  Completion  Date in accordance  with
        Clause 2.2 (Completion).

2.2     Completion

(a)     On the Completion Date:

        (i)     the  Transferring  Bank  shall  deliver  to  the  Purchaser  the
                Substitution  Certificate in respect of its entire participation
                in the Debt, duly executed by it;

        (ii)    the Transferring  Noteholder shall sell,  assign and transfer to
                the  Purchaser  each  Note held by it and this  Agreement  shall
                effect such sale, assignment and transfer

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<PAGE>

                (notwithstanding  any of the  provisions set out in section 15.2
                (Transfer and Exchange of Notes) of the Note Purchase Agreement)
                with immediate effect on the Completion Date without more;

        (iii)   the  Purchaser  shall  pay:

                (A)     (pound)8,597,828.84   of   the   Consideration   to  the
                        Transferring   Bank;   and

                (B)     the  balance of the  Consideration  to the  Transferring
                        Noteholder;

        (iv)    the Purchaser will execute the Substitution Certificate, to take
                effect on the  Completion  Date;  and

        (v)     the Note Issuer shall issue a replacement  Note in favour of the
                Purchaser  and register the Purchaser as the holder of such Note
                pursuant  to section  15.1  (Registration  of Notes) of the Note
                Purchase Agreement.

        Each of the actions  described above shall occur  simultaneously  on the
        Completion Date.

(b)     As soon as reasonably  practicable after the Completion Date (and in any
        event not more than 10 Business Days after the  Completion  Date or such
        longer period as agreed by the Purchaser),  the Transferring  Noteholder
        shall  surrender to the Purchaser each original Note held by it.

(c)     The Transferring  Noteholder and the  Transferring  Bank hereby agree as
        between  themselves that the payment of the respective  amounts referred
        to in Clause 2.2(a)(iii) shall:

        (i)     discharge the Transferring  Noteholder from any liability to the
                Transferring  Bank in  respect  of the  outstanding  obligations
                under the agreements entered into by the Transferring Noteholder
                and the  Transferring  Bank prior to the date of this  Agreement
                for  the  purchase  by  the  Transferring  Noteholder  by way of
                sub-participation of a portion of the Principal Debt; and

        (ii)    discharge  the  Transferring  Bank  from  any  liability  to the
                Transferring  Noteholder under the  sub-participation  agreement
                dated 9th April, 2003 entered into between them, which agreement
                shall be terminated on the Completion Date.

3.      PAYMENT

3.1     Place

        All payments by the  Purchaser  or the  Guarantor  under this  Agreement
        shall be made to the relevant Receiving Account.

3.2     Funds

        Payments under this Agreement shall be made in the currency in which the
        amount is  denominated  for  value on the due date at such  times and in
        such funds as are customary at the time for  settlement of  transactions
        in that currency in the place of payment.

3.3     Use of Consideration

        A  payment  of any  amount  by the  Purchaser  or the  Guarantor  to the
        Receiving  Account  shall be a good  discharge of the  obligation to pay
        that amount to the Transferring Finance Parties.

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4.      RELEASE

(a)      Each Party agrees that, on completion occurring in accordance with
         Clause 2.2 (Completion):

        (i)     the Purchaser  will assume all of the rights and  obligations of
                the  Transferring  Finance  Parties  in  respect  of the Debt in
                substitution  for  the  Transferring  Finance  Parties,  and the
                Transferring   Finance  Parties  will  be  released  from  those
                obligations  and shall  cease to have any of those  rights;  and

        (ii)    the Transferring Finance Parties, the Agent, the Company and the
                Note Issuer waive any consents,  authorisations  or  formalities
                otherwise  required  under the Finance  Documents in  connection
                with the Transfer;

        (iii)   the Company  confirms each  Obligor's  authority to the Agent to
                execute the Substitution Certificate; and

        (iv)    no Obligor shall have any liability to any Transferring  Finance
                Party and no  Transferring  Finance  Party shall have any right,
                claim or  action  against  an  Obligor  in  connection  with the
                Finance Documents.

(b)     Each  Party  agrees  that  no   Transferring   Finance  Party  shall  be
        responsible  or have any  liability to the Purchaser or any other person
        if  any  of  the  rights,  claims,   guarantees  or  security  under  or
        constituted  by the Finance  Documents is damaged,  impaired,  vitiated,
        discharged  or otherwise  affected by reason of anything in, or anything
        contemplated by, this Agreement or the transactions contemplated by this
        Agreement.

(c)     Each party  agrees  that the Term (as  defined in the Credit  Agreement)
        ending on 30th  June,  2003 for the  (pound)9,550,000  revolving  credit
        advance outstanding under the Credit Agreement shall be extended for one
        day until 1st July,  2003 and that the interest rate  applicable to that
        advance during that extension  shall be the same as the rate  applicable
        to it on the date of this Agreement.

 5.  CO-OPERATION

(a)     The Transferring Finance Parties shall, at the expense of the Purchaser,
        take  whatever   action  the  Purchaser  may   reasonably   require  for
        facilitating  the  Transfer  under  this  Agreement  for a period  of 10
        Business Days following the  Completion  Date (or such later date as the
        Transferring Finance Parties and the Purchaser agree), including without
        limitation the execution of any transfer,  conveyance and assignment and
        the giving or making of any notice,  order,  direction or  registration.
        The  Transferring  Finance  Parties  shall not be  obliged  to incur any
        material  expense  under this  paragraph  (a) unless they are secured or
        payment is otherwise assured, in each case to their satisfaction.

(b)     The  Purchaser   shall,  at  its  expense,   take  whatever  action  the
        Transferring Finance Parties may reasonably require for facilitating the
        Transfer under this Agreement  following the Completion Date,  including
        the execution of any transfer,  conveyance and assignment and the giving
        or making of any notice, order, direction or registration.

6.      CONFIDENTIALITY

(a)     Each Party must keep  confidential  this Agreement and the  transactions
        contemplated   by  it.   However,   a  Party  is  entitled  to  disclose
        information:

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<PAGE>

        (i)     which is or becomes publicly  available,  other than as a result
                of a breach by that Party of this Clause;

        (ii)    to any  person  to which  such  delivery  or  disclosure  may be
                necessary or appropriate  (A) to effect  compliance with any law
                or regulation  applicable  to such Party,  or (B) in response to
                any subpoena or other legal process,  or (C) in connection  with
                any litigation to which it is a party;

        (iii)   if  required  to do so under any  applicable  law or  regulation
                (including  any request by the Panel or the Listing Rules of the
                UK Listing Authority);

        (iv)    to  a  governmental,   banking,  taxation  or  other  regulatory
                authority;

        (v)     to the extent allowed under paragraph (c) below;

        (vi)    which  relates to the tax  treatment  and tax  structure  of the
                transactions contemplated by this Agreement and all materials of
                any kind relating to such tax treatment and tax structure;

        (vii)   to  its  directors,   officers,  trustees,   employees,  agents,
                attorneys and affiliates  (whose duties require them to maintain
                the confidentiality of such information);

        (viii)  to its financial  advisors and other  professional  advisers who
                agree, or whose duties require them, to hold  confidential  such
                information  substantially  in accordance with the terms of this
                Clause 6;

        (ix)    the  National  Association  of  Insurance  Commissioners  or any
                similar  organisation,  or any  recognised  rating  agency  that
                requires  access to  information  about a  Transferring  Finance
                Party's investment portfolio;

        (x)     any  Institutional  Investor  (as  defined in the Note  Purchase
                Agreement) to which a Transferring Noteholder sells or offers to
                sell  Notes or any part  thereof  or any  participation  therein
                provided  such  Institutional  Investor  agrees in writing to be
                bound by the terms of this Clause 6; or

        (xi)    any person  from which such  Transferring  Noteholder  offers to
                purchase any security of the Note Issuer or the Company provided
                such  person  agrees in writing to be bound by the terms of this
                Clause 6.

(b)     In connection  with the  foregoing,  any Person shall be free to consult
        any tax advisor  regarding  the tax  treatment  or tax  structure of the
        transactions.  For the  purposes of this Clause 6, the tax  treatment of
        the  transactions  is the purported or claimed U.S.  Federal  income tax
        treatment of the  transaction,  and the tax structure of the transaction
        is any fact that may be  relevant  to  understanding  the  purported  or
        claimed U.S.  federal income tax treatment of the  transactions.  Person
        for  the  purposes  of  this   paragraph   (b)  includes  any  employee,
        representative, or other agent of any Party to this Agreement.

(c)     A Party may  disclose to an affiliate a copy of this  Agreement  and any
        information  which it has  acquired  under or in  connection  with  this
        Agreement.

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<PAGE>

7.      TRANSFERRING FINANCE PARTY REPRESENTATIONS

7.1     Representations

        The representations set out in this Clause are made by each Transferring
        Finance Party (on a several  basis) to the Purchaser on the date of this
        Agreement and the Completion Date.

7.2     Status

        It is duly  incorporated  or  organised  as the case may be and  validly
        existing  (and in the case of a corporation  incorporated  in the United
        States,  in good  standing)  under the laws of the  jurisdiction  of its
        incorporation or organisation.

7.3     Powers and authorities

        It has the power to enter into and perform,  and has taken all necessary
        action to authorise the entry into and  performance  of, this  Agreement
        and  the  Substitution  Certificate  to  which  it is a  party  and  the
        transactions contemplated by this Agreement.

7.4     Legal validity

        This Agreement and the  Substitution  Certificate to which it is a party
        each constitutes (or will, when executed, constitute) its legally valid,
        binding and enforceable  obligation  (subject to applicable  bankruptcy,
        reorganisation,   insolvency   moratorium  or  similar  laws   affecting
        creditors'  rights  generally  and  subject,  as to  enforceability,  to
        equitable principles of general application).

7.5     Non-conflict

        The  entry  into  and  performance  by  it  of,  and  the   transactions
        contemplated  by, this  Agreement and the  Substitution  Certificate  to
        which it is a party do not and will not conflict in any material respect
        with:  (a)  any  law  or  regulation   applicable  to  it;  or  (b)  its
        constitutional documents.

7.6     Authorisations

        All  authorisations  required by it in  connection  with the entry into,
        performance,  validity  and  enforceability  of,  and  the  transactions
        contemplated  by, this  Agreement and the  Substitution  Certificate  to
        which it is a party have been obtained or effected (as  appropriate) and
        are in full  force  and  effect.

7.7     Debt

(a)     It is the sole legal and beneficial  owner of its  participation  in the
        Bank Debt or, as applicable,  the sole owner and holder of its Notes and
        in each case the corresponding benefits under the Finance Documents free
        from any security  interest,  option or  subordination  in favour of any
        person   other  than  the   Purchaser   (except  in   relation   to  any
        sub-contracting or  sub-participating  of its  participation,  where the
        relevant  Transferring  Finance  Party is and remains  liable  under the
        Finance  Documents  for its  obligations);

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(b)     it has not  exercised  any right of any set-off,  counterclaim  or other
        defence which it may have in respect of its  participation  in the Debt;
        and

(c)     as at the date of this Agreement and as at the Completion Date, its
        relevant ownership and participations in the principal amount of the
        Bank Debt and the Notes is as set out in Schedule 1 (Finance Parties).

8.      GUARANTOR/PURCHASER REPRESENTATIONS

        The  representations  set out in  this  clause  are  made by each of the
        Guarantor and the Purchaser to the  Transferring  Finance Parties on the
        date of this Agreement and the Completion Date.

8.1     Status

It      is a limited liability  company,  duly incorporated and validly existing
        under the laws of the jurisdiction of its incorporation.

8.2     Powers and authorities

        It has the power to enter into and perform,  and has taken all necessary
        action to authorise the entry into and  performance  of, this  Agreement
        and  the  Substitution  Certificate  to  which  it is a  party  and  the
        transactions contemplated by this Agreement.

8.3     Legal validity

        This Agreement and the  Substitution  Certificate to which it is a party
        each constitutes its legally valid, binding and enforceable obligation.

8.4     Non-conflict

        The  entry  into  and  performance  by  it  of,  and  the   transactions
        contemplated  by, this  Agreement and the  Substitution  Certificate  to
        which it is a party do not and will not conflict with:

        (a)     any   law  or   regulation   applicable   to  it;   or

        (b)     its constitutional documents.

8.5     Authorisations

        All  authorisations  required by it in  connection  with the entry into,
        performance,  validity  and  enforceability  of,  and  the  transactions
        contemplated  by, this  Agreement and the  Substitution  Certificate  to
        which it is a party have been obtained or effected (as  appropriate) and
        are in full force and effect.

8.6     Securities Act

(a)     The Purchaser is  purchasing  the Debt as principal for its own account,
        for  investment  purposes  only  and not  with a view to any  resale  or
        distribution  thereof.  The Purchaser  understands that no liquid market
        exists for the Debt and the Purchaser acknowledges that the Purchaser is
        financially  capable of bearing  the  potential  risks  associated  with
        holding its investment in the Debt for an indefinite period of time.

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<PAGE>

(b)     The Purchaser has received copies of each of the Finance Documents,  has
        reviewed  the  Finance  Documents  and is,  except as  provided  herein,
        acquiring the Debt in accordance  and in compliance  with the procedural
        requirements  set  out in  clause  18.3  (Substitution)  of  the  Credit
        Agreement, section 15 (Registration; Exchange; Substitution of Notes) of
        the Note Purchase Agreement, clause 9.6 (Transfer by the Noteholders) of
        the Common Security Trust Deed and clause 9.1 (Transfer and Termination)
        of the Intercreditor Agreement in connection with its acquisition of the
        Debt.

(c)     The Purchaser  understands  that the Notes have not been and will not be
        registered  under the United States  Securities  Act of 1933, as amended
        (the  Securities  Act), are being sold in a transaction  exempt from the
        registration   requirements  of  the  Securities  Act,  are  "restricted
        securities" as defined by Rule 144(a)(3)  under the Securities  Act, and
        may not be reoffered or resold in a transaction  to which the Securities
        Act applies, except pursuant to registration under, or an exemption from
        the registration requirements of, the Securities Act.

8.7     Reliance

(a)     In respect of the Purchaser only, it has such knowledge,  sophistication
        and  experience  in financial  and business  matters as to be capable of
        evaluating the merits and risks of its investment in the Debt.

(b)     It is able to bear the economic risk of an  investment in the Debt,  has
        adequate means to provide for its current and contingent  needs,  has no
        need for liquidity  with respect to an  investment in the Debt,  and can
        afford a complete loss of such investment.

(c)     HSBC Bank plc in its capacity as Overdraft Bank, under and as defined in
        the Credit  Agreement,  has given its  written  consent to the  transfer
        envisaged  by this  Agreement,  as required by clause 18.3 of the Credit
        Agreement.

(d)     Fleet National Bank resigned from its position as Swingline Bank,  under
        and as  defined  in the Credit  Agreement,  on 19th  June,  2003 and was
        succeeded by the  Purchaser  who, by its  signature  to this  Agreement,
        gives the consent to the transfer  required of the Swingline  Bank under
        clause 18.3 of the Credit Agreement.

9.      CHANGES TO THE PARTIES

         No Party may assign or transfer any of its rights or obligations under
         this Agreement unless, in the case of the Transferring Finance Parties
         only, the transferee agrees to be bound by the terms of this Agreement
         by execution of an accession letter in the form attached as Schedule 4
         (Form of Accession Letter).

10.      DEFAULT INTEREST

(a)      If a Party fails to pay any amount payable by it under this Agreement
         to another Party, (the non-defaulting Party) it must, on demand by the
         non-defaulting Party, pay interest on the overdue amount from the due
         date up to the date of actual payment, as well after as before
         judgment.

(b)      Interest on an overdue amount is payable at a rate equal to the
         aggregate of:

        (i)     one per cent. per annum; and

                                       10
<PAGE>

        (ii)    the rate quoted in the London  interbank  market on the relevant
                rate fixing day for the  offering of deposits in the currency of
                the overdue amount during the period of non-payment, as shown on
                the appropriate Telerate page.

(c)     For the purpose of  determining  the relevant  rate under  sub-paragraph
        (b)(ii) above, the non-defaulting Party may (acting reasonably):

        (i)     select successive periods of any duration of up to three months;
                and

        (ii)    determine the appropriate rate fixing day for that period.

(d)     Interest (if unpaid) on an overdue  amount will be compounded at the end
        of each period selected by the non-defaulting  Party under paragraph (c)
        above but will remain immediately due and payable.

(e)     Any interest  accruing under this Subclause  accrues from day to day and
        is  calculated  on the basis of the actual  number of days elapsed and a
        year  of  360  or  365  days  or   otherwise,   depending  on  what  the
        non-defaulting Party determines is market practice.

(f)     For the avoidance of doubt, to the extent any Finance Document  contains
        a default interest provision in respect of an amount referred to in this
        Agreement,  that  provision  will  apply in place of this in  respect of
        payments under those Finance Documents.

11.     VAT

(a)     Any amount  payable under this  Agreement by a Party is exclusive of any
        value  added tax or any other tax of a  similar  nature  which  might be
        chargeable in connection  with that amount.  If any such value added tax
        is chargeable,  that Party must pay (in addition to and at the same time
        as paying that amount) an amount equal to the amount of that value added
        tax.

(b)     The obligation of any Party under paragraph (a) above will be reduced to
        the extent that the recipient  determines (acting reasonably) that it is
        entitled to repayment or a credit in respect of the relevant value added
        tax.

12.     GUARANTEE AND INDEMNITY

12.1    Guarantee and indemnity

        The Guarantor irrevocably and unconditionally:

(a)     guarantees to each  Transferring  Finance Party punctual  performance by
        the Purchaser of all its obligations under this Agreement;

(b)     undertakes  with each  Transferring  Finance  Party that,  whenever  the
        Purchaser does not pay any amount when due under this Agreement, it must
        immediately  on  demand by either  Transferring  Finance  Party pay that
        amount as if it were the principal obligor; and

(c)     indemnifies  each  Transferring  Finance  Party  immediately  on  demand
        against  any loss or  liability  suffered by that  Transferring  Finance
        Party if any  obligation  guaranteed by it is or becomes  unenforceable,
        invalid  or  illegal;  the  amount of the loss or  liability  under this
        indemnity  will be equal to the amount the  Transferring  Finance  Party
        would otherwise have been entitled to recover.

                                       11
<PAGE>

12.2    Continuing guarantee

        This guarantee is a continuing guarantee and will extend to the ultimate
        balance of all sums  payable  by the  Purchaser  under  this  Agreement,
        regardless of any intermediate payment or discharge in whole or in part.
        This guarantee is a guarantee of payment and not of collection.

12.3    Reinstatement

(a)     If any discharge (whether in respect of the obligations of the Purchaser
        or any security for those  obligations  or otherwise) or  arrangement is
        made in whole or in part on the faith of any payment,  security or other
        disposition  which  is  avoided  or  must  be  restored  on  insolvency,
        liquidation  or  otherwise  without  limitation,  the  liability  of the
        Guarantor  under  this  Clause  will  continue  as if the  discharge  or
        arrangement had not occurred.

(b)     Each Transferring Finance Party may concede or compromise any claim that
        any  payment,  security or other  disposition  is liable to avoidance or
        restoration.

12.4    Waiver of defences

        The  obligations of the Guarantor under this Clause will not be affected
        by any act,  omission  or thing  which,  but for this  provision,  would
        reduce,  release or prejudice any of its  obligations  under this Clause
        (whether or not known to it or any  Transferring  Finance  Party).  This
        includes:

(a)     any time or waiver granted to, or composition with, any person;

(b)     any  release  of any  person  under  the  terms  of any  composition  or
        arrangement;

(c)     the taking, variation,  compromise,  exchange, renewal or release of, or
        refusal or neglect to perfect,  take up or enforce,  any rights against,
        or security over assets of, any person;

(d)     any  non-presentation  or  non-observance  of  any  formality  or  other
        requirement  in respect of any  instrument or any failure to realise the
        full value of any security;

(e)     any  incapacity or lack of power,  authority or legal  personality of or
        dissolution or change in the members or status of any person;

(f)     any  amendment  (however  fundamental)  of this  Agreement  or any other
        document or security; or

(g)     any unenforceability,  illegality,  invalidity or non-provability of any
        obligation of any person under this  Agreement or any other  document or
        security.

12.5    Immediate recourse

        The  Guarantor  waives  any  right it may have of  first  requiring  any
        Transferring  Finance  Party (or any  trustee or agent on its behalf) to
        proceed  against or enforce any other right or security or claim payment
        from any person before claiming from the Guarantor under this Clause.

                                     12
<PAGE>

12.6    Appropriations

        Until all amounts which may be or become payable by the Purchaser  under
        this Agreement have been  irrevocably  paid in full,  each  Transferring
        Finance  Party  (or any  trustee  or agent on its  behalf)  may  without
        affecting the liability of the Guarantor under this Clause:

(a)     refrain from applying or enforcing any other moneys,  security or rights
        held or received by that  Transferring  Finance Party (or any trustee or
        agent on its behalf) in respect of those amounts; or

(b)     apply and enforce  them in such manner and order as it sees fit (whether
        against those amounts or otherwise); and

(c)     hold in an  interest-bearing  suspense  account any moneys received from
        the  Guarantor  or on account of the  Guarantor's  liability  under this
        Clause.

12.7    Non-competition

        Unless all amounts which may be or become payable by the Purchaser under
        this  Agreement have been  irrevocably  paid in full, the Guarantor will
        not,  after  a claim  has  been  made or by  virtue  of any  payment  or
        performance by it under this Clause:

(a)     be  subrogated  to any  rights,  security  or moneys  held,  received or
        receivable by any Transferring Finance Party (or any trustee or agent on
        its behalf);

(b)     be entitled to any right of  contribution or indemnity in respect of any
        payment made or moneys received on account of the Guarantor's  liability
        under this Clause;

(c)     claim,  rank, prove or vote as a creditor of the Purchaser or its estate
        in competition  with any  Transferring  Finance Party (or any trustee or
        agent on its behalf); or

(d)     receive,  claim or have the  benefit  of any  payment,  distribution  or
        security from or on account of the  Purchaser,  or exercise any right of
        set-off as against the Purchaser.

The Guarantor must hold in trust for and immediately pay or transfer to the
Transferring Finance Parties any payment or distribution or benefit of security
received by it contrary to this Clause.

12.8    Additional security

        This guarantee is in addition to and is not in any way prejudiced by any
        other  security now or  subsequently  held by any  Transferring  Finance
        Party.

13.     Miscellaneous

13.1    Set-off and counterclaims

        All  payments  under this  Agreement  shall be made  without  set-off or
        counterclaim and free and clear of and without  liability or withholding
        or  deduction  for or on  account  of any  present  or  future  taxes of
        whatever nature.

                                       13
<PAGE>

13.2    Transfer fees

        The  Purchaser  shall  not be  liable to  account  for any  recordation,
        processing,  transfer  or similar  fee  payable  to the Agent  under the
        Credit  Agreement in connection with the transaction to the Agent on the
        date upon which such fee is payable under the Credit Agreement.

13.3    Stamp duty

        Stamp duties and other applicable  transfer taxes and duties  (including
        notarial  fees) and any costs  attributable  to the transfer of security
        are payable by the Purchaser.

13.4    Breakfunding

        No breakfunding  compensation shall be paid to the Transferring  Finance
        Parties even if the Completion  Date is not an interest  payment date in
        respect of the Principal Debt.

13.5    Costs and expenses

        Each  Party  shall  bear  its  own  out-of-pocket   costs  and  expenses
        (including   legal  expenses)  in  connection   with  the   preparation,
        negotiation  and  execution  of this  Agreement  and  each of the  other
        documents contemplated herein.

13.6    Acknowledgements and consents

        Each Obligor (as evidenced by the Company's execution of this Agreement)
        acknowledges   (and,   to  the  extent   necessary,   consents  to)  the
        transactions   contemplated   by  this   Agreement.

13.7    Independent  investigation

(a)     The Purchaser and each  Transferring  Finance Party  acknowledges to the
        other  that it is a  sophisticated  buyer or seller (as the case may be)
        with respect to the transactions  contemplated  under this Agreement and
        has such  information as it deems  appropriate  under the  circumstances
        (however obtained),  concerning, for example, the business and financial
        condition of the Obligors,  to make an informed  decision  regarding the
        transactions  contemplated under this Agreement.  The Purchaser and each
        Transferring  Finance Party hereby agrees that it has independently made
        its  own  analysis   and   decision  to  enter  into  the   transactions
        contemplated  under this Agreement,  based on such information as it has
        deemed appropriate under the circumstances,  and without reliance on the
        Purchaser,  any  Transferring  Finance  Party or any other  Transferring
        Finance Party.

(b)     In addition,  each  Transferring  Finance  Party does not make,  and the
        Purchaser does not rely upon, any representation,  warranty or condition
        (express or implied) about,  and each  Transferring  Finance Party shall
        have  no  liability  or   responsibility   to  the   Purchaser  for  any
        non-performance of the Finance Documents by any Obligor or the financial
        condition of any Obligor.

13.8    No recourse

(a)     Each Transferring Finance Party notifies the Purchaser and the Purchaser
        acknowledges that, except as otherwise specified in this Agreement:

        (i)     each  Transferring  Finance  Party shall have no  obligation  to
                repurchase  or  reacquire  all or any part of the Debt  from the
                Purchaser or to support any losses directly or

                                       14
<PAGE>

                indirectly sustained or incurred by the Purchaser for any reason
                whatsoever,  including the  non-performance by any Obligor under
                the  Finance   Documents  of  its  obligations;   and

        (ii)    any  rescheduling or  renegotiation of the Debt shall be for the
                account of, and the responsibility  of, the Purchaser,  who will
                be subject to the rescheduled or renegotiated terms.

(b)     After the Completion Date no  Transferring  Finance Party shall have any
        recourse to any Debt  transferred to the Purchaser  under this Agreement
        or to any payment made by any Obligor pursuant to the Finance  Documents
        on or after the Completion Date.

13.9    Information

        The Purchaser and each Transferring  Finance Party acknowledges that the
        other may possess  material  information  not known to it. The Purchaser
        and each Transferring  Finance Party agrees that the other shall have no
        liability  with respect to the  non-disclosure  of any such  information
        except to the extent that such information renders inaccurate an express
        representation  made pursuant to this Agreement by the Party  possessing
        such  information.

14.     NOTICES

14.1    In writing

(a)     Any  communication  in connection with this Agreement must be in writing
        and, unless otherwise stated, may be given in person, by post or by fax.

(b)     Unless it is agreed to the contrary,  any consent or agreement  required
        under this Agreement must be given in writing.

14.2    Contact details

(a)     The contact details of the  Transferring  Noteholder for all notices in
        connection with this Agreement are:

        Address:        450 Park Avenue, New York, NY10022-2605
        Fax number:     001 (212) 891 2100
        Attention:      Christopher Brody/Juan Garcia

(b)     The  contact  details  of the  Transferring  Bank  for  all  notices  in
        connection with this Agreement are:

        Address:        Winchester House, 1 Great Winchester Street, London EC2N
                        2DB

        Fax number:     00 44 (0)20 7547 2707
        Attention:      L. Powell/B. Morison

(c)     The Contact  details of the  Guarantor and the Purchaser for all notices
        in connection with this Agreement are:

        Address:        27 Farm  Street,  London  W1J  5RJ
        Fax:            +44  (0) 20 7499  9125
        Attention of:   Finance Director/Company Secretary

                                       15

<PAGE>

(d)     The  contact  details of the Company and the Note Issuer for all notices
        in connection with this Agreement are:

        Address:        121 - 141 Westbourne Terrace, London W2 6JR
        Fax number:     +44 (0) 20 7706 3820
        Attention:       Finance Director/Company Secretary.

(e)     Any Party may change its contact  details by giving five Business  Days'
        notice to the Purchaser.

(f)     Where a Party nominates a particular  department or officer to receive a
        notice,  a notice  will not be  effective  if it fails to  specify  that
        department or officer.

14.3    Effectiveness

(a)     Except as provided  below,  any notice in connection with this Agreement
        will be deemed to be given as follows:

        (i)     if delivered in person, at the time of delivery;

        (ii)    if posted,  five days after being deposited in the post, postage
                prepaid, in a correctly addressed envelope; and

        (iii)   if by fax, when received in legible form.

(b)     A  communication  given  under  paragraph  (a) above but  received  on a
        non-working  day or after  business  hours in the place of receipt  will
        only be deemed to be given on the next working day in that place.

(c)     A notice to a Party will only be effective on actual receipt by it.

15.     LANGUAGE

        Any notice given in connection with this Agreement must be in English.

16.     Severability

        If  a  term  of  this  Agreement  is  or  becomes  illegal,  invalid  or
        unenforceable in any jurisdiction, that will not affect:

(a)     the legality,  validity or  enforceability  in that  jurisdiction of any
        other term of this Agreement; or

(b)     the legality,  validity or enforceability  in any other  jurisdiction of
        that or any other term of this Agreement.

17.     WAIVERS AND REMEDIES CUMULATIVE

        The rights of each Party under this Agreement:

(a)     may be exercised as often as necessary;

(b)     are  cumulative  and not  exclusive of its rights under the general law;
        and

(c)     may be waived only in writing and specifically.

                                       16

<PAGE>

        Delay in exercise or  non-exercise  of any right is not a waiver of that
        right.

18.     COUNTERPARTS

        This  Agreement  may be  executed in any number of  counterparts  and by
        different  parties thereto on separate  counterparts each of which, when
        executed  and  delivered,  shall  constitute  an  original,  but all the
        counterparts shall together constitute but one and the same instrument.

        Transmission  by fax of an executed  counterpart of this Agreement shall
        be deemed to constitute due and sufficient delivery of such counterpart.

19.     GOVERNING LAW

        This Agreement is governed by English law.

20.     ENFORCEMENT

20.1    Jurisdiction

(a)     The English courts have exclusive  jurisdiction to settle any dispute in
        connection with this Agreement.

(b)     The English courts are the most  appropriate  and  convenient  courts to
        settle any such dispute and each Party waives  objection to those courts
        on the  grounds  of  inconvenient  forum or  otherwise  in  relation  to
        proceedings in connection with this Agreement.

20.2    Waiver of immunity

        Each Party irrevocably and unconditionally:

(a)     agrees not to claim any immunity from proceedings  brought against it in
        relation to this  Agreement  and to ensure that no such claim is made on
        its behalf;

(b)     consents  generally  to the  giving  of any  relief  or the issue of any
        process in connection with those proceedings;  and

(c)     waives all rights of immunity in respect of it or its assets.

20.3    Waiver of trial by jury

        EACH PARTY  WAIVES ANY RIGHT IT MAY HAVE TO A JURY TRIAL OF ANY CLAIM OR
        CAUSE OF ACTION IN  CONNECTION  WITH THIS  AGREEMENT OR ANY  TRANSACTION
        CONTEMPLATED BY THIS AGREEMENT. THIS AGREEMENT MAY BE FILED AS A WRITTEN
        CONSENT TO TRIAL BY COURT.

AS WITNESS the hands of the authorised  signatories of the parties hereto on the
date first appearing above.

                                       17
<PAGE>

                                   SCHEDULE 1

                          TRANSFERRING FINANCE PARTIES

Part 1

Transferring Noteholder                                 Principal Debt

CERBERUS PARTNERS, L.P.                                 U.S.$97,000,000

Total (indicative as at the date of this Agreement)     U.S.$97,000,000

                                       18

<PAGE>

Part 2

Transferring Bank                                       Principal Debt

DEUTSCHE BANK AG, LONDON                                (pound)20,337,802.26

Total (indicative as at the date of this Agreement)     (pound)20,337,802.26

                                       19

<PAGE>

                                   SCHEDULE 2

                        FORM OF SUBSTITUTION CERTIFICATE

To:     HSBC Bank plc (as the successor to HSBC Investment Bank plc)
        8 Canada Square
        London
        E14

        Attention: Syndicated Agency

                                                                [Date]

                            Substitution Certificate
                           --------------------------

This Substitution  Certificate relates to an Agreement (the Agreement) dated 4th
July,  2000  between  Cordiant  Communications  Group plc as the Parent (1), the
companies whose names,  registered numbers and registered offices are set out in
schedule 1 thereto as Original  Borrowers or Original  Overdraft  Borrowers (2),
The Bank of New York and HSBC Bank plc (as the successor to HSBC Investment Bank
plc) as Arrangers  (3), the banks and financial  institutions  whose  respective
names and addresses are set out in schedule 2 thereto as Banks (4) HSBC Bank plc
(as the successor to HSBC  Investment Bank plc) as Agent,  Security  Trustee and
Common Security Trustee (5), The Bank of New York as Swingline Bank (6) and HSBC
Bank plc as Overdraft Bank (7) (as from time to time amended,  varied, extended,
restated or replaced) and the Security  Trust Deed,  the Common  Security  Trust
Deed and the  Intercreditor  Agreement  defined and  referred to therein.  Terms
defined  in the  Agreement  shall  have the same  meaning  in this  Substitution
Certificate.

1.   Deutsche Bank AG,  London (the Existing  Bank) (a) confirms the accuracy of
     the summary of its  Commitment  and  Contribution  set out in schedule 1 to
     this Substitution  Certificate;  and (b) requests WPP No. 2337 Limited (the
     Substitute)  to accept by way of novation the portion of its Commitment and
     Contribution  specified in schedule 1 to this  Substitution  Certificate by
     counter-signing  and delivering this Substitution  Certificate to the Agent
     at its address for the service of notices specified in the Agreement.

2.   The Substitute  hereby  requests the Agent (on behalf of itself,  the other
     Bank Finance  Parties,  the Obligors and all other parties to the Agreement
     and the Security  Trust Deed) to accept this  Substitution  Certificate  as
     being  delivered  to the Agent  pursuant to and for the  purposes of clause
     18.3 of the Agreement  and clause 10.3 of the Security  Trust Deed so as to
     take  effect  in  accordance  with the  terms on [date of  transfer],  (the
     Transfer  Date) or such later date as may be determined in accordance  with
     the terms thereof.

3.   The Agent (on  behalf  of  itself,  the other  Bank  Finance  Parties,  the
     Borrowers and all other  parties to the  Agreement  and the Security  Trust
     Deed)  confirms the  novations  effected by this  Substitution  Certificate
     pursuant to and for the purposes of clause 18.3 of the Agreement and clause
     10.3 of the Security Trust Deed so as to take effect in accordance with the
     respective terms thereof.

4.   The Substitute confirms:

     (a)  that  it  has  received   copies  of  the   Agreement  and  all  other
          documentation  and  information  required by it in connection with the
          transactions contemplated by this Substitution Certificate;

                                       20

<PAGE>

     (b)  that it has not relied upon any statement,  opinion, forecast or other
          representation  or warranty made by the Existing  Bank, the Arrangers,
          the  Security  Trustee,  the Common  Security  Trustee or the Agent to
          induce it to enter into this Substitution Certificate;

     (c)  that it has made and will  continue to make,  without  reliance on the
          Existing  Bank or any  other  Bank  Finance  Party,  and based on such
          documents  as it  considers  appropriate,  its  own  appraisal  of the
          creditworthiness   of  each   Borrower  and  the  Group  and  its  own
          independent  investigation of the financial  condition,  prospects and
          affairs of each Borrower and the Group in  connection  with the making
          and continuation of the Facilities under the Agreement;

     (d)  that neither the Existing  Bank nor any other Bank Finance Party shall
          at any time be  deemed  to have had or have a duty or  responsibility,
          either  historically,  initially or on a continuing  basis, to provide
          the Substitute  with any credit or other  information  with respect to
          any Borrower or any other member of the Group whether  coming into its
          possession  before the  making of any  Drawing or at any time or times
          thereafter,  other  than (in the case of the  Agent)  as  provided  in
          clauses 19.3.1 and 19.5.1 of the Agreement

     (e)  that it has made and will  continue to make its own  assessment of the
          legality, validity, enforceability and sufficiency of the Bank Finance
          Documents and the Substitution Certificate and has not relied and will
          not rely on the Existing Bank, the  Arrangers,  the Security  Trustee,
          the Common Security Trustee or the Agent or any statements made by any
          of them in that respect;

     (f)  that,  accordingly,  none of the Existing  Bank,  the  Arrangers,  the
          Security Trustee, the Common Security Trustee and the Agent shall make
          any  representations  or  warranties  in respect of, or shall have any
          liability or  responsibility  to the Substitutes in respect of, any of
          the foregoing  matters or any other matter  referred to in clause 19.7
          of the Agreement;

     (g)  that it is not a Qualifying Bank.

5.   Execution of this  Substitution  Certificate by the Substitute  constitutes
     its  representation  to the  Existing  Bank and all  other  parties  to the
     Agreement and the Security  Trust Deed that it has power to become party to
     the Agreement and the Security Trust Deed as a Bank on the terms herein and
     therein set out and has taken all  necessary  steps to authorise  execution
     and delivery of this Substitution Certificate.

6.   The  Substitute  hereby  undertakes  to the Existing  Bank,  the other Bank
     Finance  Parties,  the Borrowers and the other parties to the Agreement and
     the Security  Trust Deed that it will perform in accordance  with its terms
     all those  obligations which by the terms of the Agreement and the Security
     Trust  Deed will be  assumed by it after  acceptance  of this  Substitution
     Certificate by the Agent.

7.   Without  limiting  the  above  paragraphs,  nothing  in  this  Substitution
     Certificate obliges the Existing Bank to:

     (a)  accept  any  re-transfer  from the  Substitute  of any of the  rights,
          benefits and/or obligations hereby transferred; or

                                       21

<PAGE>

     (b)  support  any  losses  incurred  by the  Substitute  by  reason  of any
          non-performance  by any Obligor or any other party to the Bank Finance
          Documents or any document  relating  thereto of any of its obligations
          under the same.

8.   This Substitution Certificate may be executed in any number of counterparts
     and by different  parties on separate  counterparts,  each of which when so
     executed and delivered  shall be an original,  but all  counterparts  shall
     together constitute one and the same instrument.

9.   This Substitution Certificate and the rights and obligations of the parties
     hereunder  shall be governed by and  construed in  accordance  with English
     law.  Clauses 21.2 and 21.3 of the  Agreement  inclusive  are  incorporated
     herein by reference.

     Note:  This  Substitution  Certificate  is  not  a  security,  bond,  note,
     debenture, investment or similar investment.

AS WITNESS the hands of the authorised  signatories of the parties hereto on the
date appearing below.

                                       22

<PAGE>

                                   Schedule 1

         Existing Bank           Amount of        Amount of     Portion of
                                Commitment      Contribution   Commitment
                                                                   and
                                                                Contribution
                                  (pound)          (pound)      Transferred

DEUTSCHE BANK AG, LONDON        21,197,436.00    20,337,802.26     100%

                                       23

<PAGE>

                      Administrative Details of Substitute

Address:        27 Farm Street
                London
                W1J 5RJ

Telefax:        +44 (0)20 7499 9125

Attention:      Finance Director/Company Secretary

                                       24

<PAGE>

                                   Signatures

The Substitute

WPP NO. 2337 LIMITED

By:

Date:

The Existing Bank

DEUTSCHE BANK AG, LONDON

By:

Date

The Agent

HSBC BANK PLC

By:

on its own behalf and on behalf of the other Bank Finance Parties,  the Obligors
and all other parties to the Agreement and the Security Trust Deed.

Date:

                                       25

<PAGE>

                                   SCHEDULE 3

                                ACCOUNT DETAILS

The Transferring Noteholder:

GBP Wiring Instructions:

The Chase Manhattan Bank

Swift: CHASGB2L

Sort Code: 60-92-42

Account Number: 11120607

Sub Account Name: Cerberus Partners, L.P.

Sub Account Number: 318-58085

USD Wiring Instructions:

Bank: Citibank, New York, N.Y.

Account Name: Cerberus Partners, LP

ABA: 021-000-089

Account Number: 37839889

Attn: Juan Garcia

Ref: Cordiant Notes

The Transferring Bank:

Deutsche Bank AG, London

Swift: DEUT GB 2L

Sort Code: 40-50-81

Ref: Cordiant sell back to WPP

                                       26

<PAGE>

                                   SCHEDULE 4

                            FORM OF ACCESSION LETTER

To: [       ]

THIS LETTER dated [ ], is  supplemental  to a debt transfer  agreement (the Debt
Transfer  Agreement)  dated [ ]  June,  2003  between,  among  others,  Cordiant
Communications  Group plc, Cordiant Finance,  Inc., the Transferring  Noteholder
described  therein,  the Transferring Bank described  therein,  HSBC Bank plc as
Agent, WPP No. 2337 Limited, WPP Group plc and [ ].

Words and  expressions  defined  in the Debt  Transfer  Agreement  have the same
meaning when used in this letter.

[NAME OF NOTEHOLDER/BANK FINANCE PARTY] hereby agrees with each other person who
is or who becomes a party to the Debt Transfer Agreement that with effect on and
from the date  hereof  it will be bound by and  benefit  from the Debt  Transfer
Agreement  as  a   *[Noteholder/Bank   Finance   Party],   with  the  holding  /
participation and Commitment specified below, as if it had been party originally
to the Debt Transfer  Agreement in that  capacity.  Its Principal Debt under the
Finance Documents as of the date hereof is US$/(pound)[     ].

The address for notices of [   ] for the  purposes of Clause 15 (Notices) of the
Debt Transfer Agreement is:

Address: [   ]
Fax Number: [   ]
Attention: [    ]

This letter is governed by English law.

Signed:

---------------------------------------------------
[Noteholder/Bank Finance Party]

*Delete as applicable

                                       27

<PAGE>

                                  SIGNATORIES

Company

CORDIANT COMMUNICATIONS GROUP PLC

By: /s/ [illegible]

Note Issuer

CORDIANT FINANCE, INC.

By: /s/ [illegible]

<PAGE>

Transferring Noteholder

CERBERUS PARTNERS, L.P.

By: /s/ [illegible]

Transferring Bank

DEUTSCHE BANK AG, LONDON

By: /s/ [illegible]

<PAGE>

Agent

HSBC BANK PLC

By: /s/ [illegible]

Purchaser

WPP NO. 2337 LIMITED

By: /s/ [illegible]

Guarantor

WPP GROUP PLC

By: /s/ L.A. MELLMANEXHIBIT 4.7

                            Interim Support AGREEMENT

                                DATED 15 May 2003

                                     BETWEEN

                        CORDIANT COMMUNICATIONS GROUP PLC
                                   the Parent

                       CERTAIN SUBSIDIARIES OF THE PARENT

                               THE FINANCE PARTIES

                                       And

                                  HSBC BANK PLC
                                    as Agent
                               as Security Trustee
                         and as Common Security Trustee

                                 ALLEN & OVERY

                                     London

<PAGE>

                                    CONTENTS

<TABLE>

<CAPTION>

Clause                                                                                                    Page

<S>                                                                                                     <C>

1.       Interpretation.......................................................................................1
2.       Condition Precedent..................................................................................4
3.       Support Period and Waivers...........................................................................4
4.       Amendments to the Facilities Agreement and the Amended And Restated Note Purchase Agreement..........6
5.       Representations and Warranties.......................................................................8
6.       Undertakings........................................................................................10
7.       Default.............................................................................................12
8.       Expenses............................................................................................12
9.       No Changes to the Obligors..........................................................................12
10.      Amendments and Waivers..............................................................................12
11.      Confidentiality.....................................................................................13
12.      Stamp Duties........................................................................................14
13.      Miscellaneous.......................................................................................14
14.      Counterparts........................................................................................15
15.      Notices.............................................................................................15
16.      Jurisdiction and Governing Law......................................................................15
17.      Contracts (Rights of Third Parties) Act 1999........................................................16

         Schedule

1.       Certain Subsidiaries................................................................................17
2.       Banks...............................................................................................21
3.       Current Noteholders.................................................................................22
4.       Part 1 Specified Defaults - Facilities Agreement....................................................23
         Part 2 Specified Defaults - Amended and Restated Note Purchase Agreement............................24
5.       Conditions Precedent................................................................................25

Signatories..................................................................................................27

</TABLE>

<PAGE>
THIS AGREEMENT is dated 15 May 2003

BETWEEN:

(1)  CORDIANT  COMMUNICATIONS  GROUP  PLC (a  company  incorporated  in  England
     (Registered No. 1320869) with its registered  office at 121-141  Westbourne
     Terrace, London W2 6JR) (the Parent);

(2)  CERTAIN SUBSIDIARIES OF THE PARENT listed in Schedule 1;

(3)  THE PERSONS listed in Schedule 2 as banks (the Banks);

(4)  THE PERSONS listed in Schedule 3 as noteholders (the Current  Noteholders);
     and

(5)  HSBC BANK PLC as the facility agent for the Banks (the Agent),  as security
     trustee for the Banks (the  Security  Trustee)  and as the common  security
     trustee for the Finance Parties (the Common Security Trustee).

IT IS AGREED as follows:

1.   INTERPRETATION

1.1  Definitions

     In this Agreement:

     Amended and Restated Note Purchase Agreement has the meaning given to it in
     the Facilities Agreement.

     Australian Disposals means the following:

(a)  the disposal by the Parent of its 58.4% ordinary  shareholding  in GPB to a
     purchaser of 100% of the shares in GPB;

(b)  the disposal by Cordiant  Australia of its 41.6% ordinary  shareholding  in
     GPB to that purchaser; and

(c)  the disposal by GPB of its 50% interest in the "Market  Force"  business to
     certain members of its management,

     in  each  case  with  the  prior  written  consent  of the  Banks  and  the
     Noteholders  and in  accordance  with  the  terms  and  conditions  of that
     consent.

     Banking Day has the meaning given to it in the Facilities Agreement.

     Commencement  Date  means the date on which  the Agent and the  Noteholders
     provide the notifications specified in Clause 2 (Conditions precedent).

     Composite Guarantee has the meaning given to it in Clause 3.2 (a) (viii).

     Co-ordinators Committee means the ad hoc co-ordinating committee of certain
     Banks  and  Noteholders  from  time  to  time  acting  in  connection  with
     discussions  in relation to the  Facilities  Agreement  and the Amended and
     Restated Note Purchase  Agreement  being, as at

                                       1

<PAGE>

     the date of this  Agreement,  HSBC Bank plc,  The Bank of New York,  Morgan
     Stanley & Co.  International  Limited,  The Royal Bank of Scotland plc, The
     Prudential Insurance Company of America and Cerberus Partners, L.P.

     Cordiant Australia means Cordiant Communications (Australia) Pty Limited.

     Couch Potato has the meaning given to it in Clause 3.2 (a) (iv).

     Couch  Potato  Acquisition  has the  meaning  given to it in Clause 3.2 (a)
     (iv).

     Couch Potato Summary has the meaning given to it in Clause 3.2 (a) (iv).

     Default  has the meaning  given to it in the  Facilities  Agreement  or the
     Amended and Restated Note Purchase Agreement, as the context may require.

     Disposal Summaries has the meaning given to it in Clause 3.2 (a) (vii).

     Employee Retention Plan has the meaning given to it in Schedule 5.

     Event of Default has the meaning given to it in the Facilities Agreement or
     the  Amended  and  Restated  Note  Purchase  Agreement,  as the context may
     require.

     excluded  representations  has the meaning  given to it in Clause 11.2.2 of
     the Facilities Agreement.

     Executive Incentive Plan has the meaning given to it in Schedule 5.

     Facilities  Agreement  means the facilities  agreement dated 4th July, 2000
     between the Parent,  certain of its Subsidiaries as Borrowers,  the Bank of
     New York and HSBC  Bank plc  (successor  to HSBC  Investment  Bank  plc) as
     Arrangers,  the banks and financial  institutions  listed therein as Banks,
     HSBC Bank plc as Agent,  Security Trustee and Common Security Trustee,  the
     Bank of New York as Swingline Bank and HSBC Bank plc as Overdraft  Bank, as
     amended and  restated  pursuant to a  restructuring  deed dated 19th April,
     2002 and as further amended, restated and supplemented from time to time.

     GPB means Cordiant Communications Group Australia Pty Limited.

     Group Structure Chart has the meaning given to it in Schedule 5.

     Intercreditor  Agreement  has the  meaning  given  to it in the  Facilities
     Agreement.

     Issuer  has the  meaning  given  to it in the  Amended  and  Restated  Note
     Purchase Agreement.

     Key Clients means those  persons  identified as "Key Clients" in the report
     prepared by the Parent dated 7th May,  2003  delivered by the Parent to the
     Banks and the  Noteholders  pursuant to  paragraph 14 of Schedule 5 of this
     Agreement.

     Liabilities has the meaning given to it in the Intercreditor Agreement.

     Majority  Creditors  has  the  meaning  given  to it in  the  Intercreditor
     Agreement.

     Net Proceeds has the meaning  given to it in the Amended and Restated  Note
     Purchase Agreement or the Facilities Agreement, as the context may require.

                                       2
<PAGE>

     New Money has the meaning given to it in the Intercreditor Agreement.

     Obligor has the meaning given to it in the Facilities Agreement.

     Party means a party to this Agreement.

     Put  Elimination  Conditions has the meaning given to it in the Amended and
     Restated Note Purchase Agreement.

     Specified  Defaults  means the  existing  Defaults and Events of Default in
     respect of the  Facilities  Agreement that are specified in Schedule 4 Part
     A, and the  existing  Defaults  and  Events of  Default  in  respect of the
     Amended and Restated Note Purchase Agreement that are specified in Schedule
     4 Part B.

     Support  Period  means  the  period  from the  Commencement  Date up to and
     including the earlier of:

     (a)  15th July, 2003;

     (b)  the  occurrence  of any  Default  or Event of  Default  (other  than a
          Specified Default);

     (c)  any breach of or failure to comply with any term or  condition of this
          Agreement by any Obligor;

     (d)  any  representation  or  warranty  made  by  any  Obligor  under  this
          Agreement being or proving to have been incorrect or misleading in any
          material respect;

     (e)  any Key Client  terminating  (or failing to renew) all or any material
          part of its business with the Group or, in the opinion of the Majority
          Creditors, doing any act or thing evidencing an intention to do so;

     (f)  Nigel Stapleton  ceasing (or giving notice to cease) to be the Group's
          Chairman,  David Hearn  ceasing (or giving  notice to cease) to be the
          Group's  Chief  Executive  Officer or Andy  Boland  ceasing (or giving
          notice to  cease) to be the  Group's  Finance  Director  (in each case
          other than due to death or incapacity);

     (g)  the termination (or variation that in the opinion of the Co-ordinators
          Committee is material) of Talbot Hughes  McKillop LLP's  engagement by
          the Parent or Talbot Hughes  McKillop LLP ceasing (or giving notice to
          cease) to perform the  functions for which it has been employed or the
          Parent  ceasing to co-operate  with Talbot Hughes  McKillop LLP in the
          performance of such  functions,  save where a replacement  adviser has
          been appointed to perform those  functions that is satisfactory to the
          Majority Creditors (acting reasonably); and

     (h)  a failure to deliver,  or any  admission  by the Parent that it is not
          able to deliver,  the weekly certificate  referred to in Clause 6.2(a)
          of this Agreement.

     Westbourne Terrace Letter has the meaning given to it in Clause 3.2 (b).

     Westbourne  Terrace  Transaction  has the meaning given to it in Clause 3.2
     (b).

                                       3

<PAGE>

1.2  Definitions

Unless the context  requires and save as  otherwise  defined  herein,  words and
expressions  defined in the  Facilities  Agreement  shall have the same meanings
when used in this Agreement.

1.3  Incorporation of Certain References

Clauses  1.3  and  1.4  of  the  Facilities  Agreement  shall  be  deemed  to be
incorporated in this Agreement in full,  mutatis mutandis,  save that in Clauses
1.4.3 and 1.4.10 of the Facilities Agreement, references to "the Agent" shall be
read and  construed  as if  referring  to "the  Agent and the  Noteholders"  and
references  to "this  Agreement"  shall be read and construed as if referring to
this Agreement.

2.   Condition Precedent

(a)  The  acknowledgements,  waivers,  consents  and  amendments  granted by the
     Finance Parties under this Agreement are subject to the condition precedent
     that the Agent and the Noteholders  have notified the Parent that they have
     received the  documents  and evidence set out in Schedule 5 in each case in
     form and substance satisfactory to them; and

(b)  The  conditions  specified  in paragraph  (a) are  inserted  solely for the
     benefit of the Finance  Parties and may be waived on their  behalf in whole
     or in part and with or without conditions by the Majority Creditors,  other
     than in the case of the evidence of the payment  referred to in paragraph 3
     of  Schedule  5 which may only be  waived  with the  consent  of all of the
     Banks.

3.   Support Period and Waivers

3.1  Temporary Waivers, Additional Waivers and Available Facilities

(a)  The Finance  Parties  agree,  subject to the terms and  conditions  of this
     Agreement,  to temporarily suspend and waive all of their respective rights
     to take  action in respect of the  Specified  Defaults  during the  Support
     Period.

(b)  For the avoidance of doubt,  at the end of the Support  Period  (unless the
     Majority  Creditors in their  absolute  discretion  otherwise  agree) there
     shall be immediate  Events of Default under both the  Facilities  Agreement
     and the Amended  and  Restated  Note  Purchase  Agreement  by virtue of the
     Specified Defaults (and the Finance Parties' respective rights and remedies
     in respect thereof shall revive).

3.2  Additional Waivers; Consents

(a)  With effect from the Commencement Date the Finance Parties hereby agree to:

     (i)    permit the Group's existing  Euro-Zone Cash Pooling  Arrangements to
            continue to be conducted with ABN AMRO N.V. until and including 15th
            July, 2003;

     (ii)   extend to 31st May,  2003 the date by which the Parent is obliged to
            deliver  written  confirmations  (which  shall  also  extend to this
            Agreement)  duly executed by Cordiant  Australia and GPB pursuant to
            paragraphs  5(g) and 8(d) of the waiver and amendment  letters dated
            12th March, 2003 (as extended on 21st March, 2003) provided that the
            Parent  shall not be obliged to deliver  such  confirmations  if the
            Australian Disposals have completed on or prior to 31st May, 2003;

     (iii)  permit  N.A.S.A  2.0 London  Limited to be  liquidated  on a solvent
            basis;

                                       4

<PAGE>

     (iv)   permit the  acquisition  (the Couch Potato  Acquisition) by Scholz &
            Friends  AG  of  a 51  per  cent.  shareholding  in  Couch  Potatoes
            Fernsehproduktions  GmbH (Couch  Potato) on the terms and conditions
            set out in the  transaction  summary  delivered by the Parent to the
            Agent and the Noteholders dated 7th April, 2003 with such amendments
            as the Majority  Creditors may agree (the Couch Potato  Summary) and
            to waive the breaches of Clause 12.2.4 of the  Facilities  Agreement
            and  Section  10.1.6  of the  Amended  and  Restated  Note  Purchase
            Agreement arising from the execution of documentation,  prior to the
            date hereof, consistent with the Couch Potato Summary;

     (v)    permit  Scholz & Friends  AG to assign  its right to  receive 51 per
            cent.  of the  dividend  paid by  Couch  Potato  in  respect  of the
            financial  year  ending  31st  December,  2002 to Martin  and Barbel
            Schafer as more particularly described in the Couch Potato Summary;

     (vi)   permit 486,818  ordinary  shares in Scholz & Friends AG to be issued
            to Martin and Barbel  Schafer on the terms and conditions set out in
            the Couch Potato Summary;

     (vii)  permit  Microarts  Corporation  and  Interactive  Edge  Inc.  to  be
            disposed  of on the terms and  conditions  set out in the  summaries
            relating to such disposals which were delivered to the Agent and the
            Noteholders on 10th April, 2003 (the Disposal Summaries); and

     (viii) instruct the Common Security Trustee to release:

            (A)    the shares in Microarts Corporation from the security created
                   by the Security Documents and Microarts  Corporation from its
                   obligations  under the composite  guarantee dated 19th April,
                   2002 entered into between, inter alios, the Parent, Microarts
                   Corporation  and the Common  Security  Trustee (the Composite
                   Guarantee) in each case on the  completion of the disposal of
                   Microarts  Corporation in accordance with Clause  3.2(a)(vii)
                   of this  Agreement  on the basis that an amount  equal to the
                   Net  Proceeds  thereof  are  applied  in  prepayment  of  the
                   Facilities and, to the extent relevant, the Notes as required
                   by  the  Finance  Documents  (subject  at  all  times  to the
                   Intercreditor Agreement); and

            (B)    the shares in Interactive Edge Inc. from the security created
                   by the Security  Documents and Interactive Edge Inc. from its
                   obligations  under the Composite  Guarantee,  in each case on
                   the  completion  of the disposal of  Interactive  Edge Inc in
                   accordance  with Clause  3.2(a)(vii) of this Agreement on the
                   basis  that an amount  equal to the Net  Proceeds  thereof is
                   applied in  prepayment of the  Facilities  and, to the extent
                   relevant,  the Notes as  required  by the  Finance  Documents
                   (subject at all times to the Intercreditor Agreement).

(b)  The  Current  Noteholders  hereby  agree to permit the Parent to bring post
     production  facilities  into  Westbourne  Terrace (the  Westbourne  Terrace
     Transaction)  on the  terms  and  conditions  set out in the  letter to the
     Noteholders dated 6th January, 2003 (the Westbourne Terrace Letter).

3.3  Available Facilities

(a)  During the Support Period, subject to the other terms and conditions of the
     Facilities  Agreement  but  notwithstanding  the fact  that  the  Specified
     Defaults have occurred and the

                                       5

<PAGE>

     Parent and the other  Borrowers are unable to comply with Clauses 3.2.1 and
     3.2.3 of the Facilities Agreement, the Finance Parties agree that:

     (i)    the  Overdraft   Borrowers   shall  be  permitted  to  make  further
            Utilisations under the Overdraft Facility; and

     (ii)   the Borrowers (other than Bates  Deutschland  Holding GmbH) shall be
            permitted  to draw  further  Advances  under  the  Revolving  Credit
            Facility with Revolving Credit Terms of one month.

(b)  For the avoidance of doubt,  Clause  3.2.1(b) of the  Facilities  Agreement
     still  applies  in  relation  to any  Defaults  other  than  the  Specified
     Defaults.

(c)  No  Swingline  Advance or  Swingline  Letter of Credit may be  requested or
     borrowed.

(d)  All other outstanding Utilisations and Advances shall remain subject to the
     existing terms and conditions of the Facilities Agreement.

3.4  Put Elimination Date

Notwithstanding  anything in this  Agreement to the  contrary,  the Defaults and
Events of Default waived  temporarily  pursuant to this Agreement are not waived
for the  purposes  of Section  8.8(f)(iii)  of the  Amended  and  Restated  Note
Purchase  Agreement  (Elimination of Refinancing Put) and shall in no way affect
the  determination  of whether the Put  Elimination  Conditions  shall have been
satisfied,  and the Parent and the Issuer hereby  acknowledge and agree that for
this purpose Defaults and Events of Default arising out of matters  specified in
this  Agreement  shall have  occurred and shall be continuing at the time of any
determination of the Put Elimination  Conditions (unless otherwise waived by the
Noteholders subsequent to the Commencement Date).

4.   AMENDMENTS  TO THE  FACILITIES  AGREEMENT AND THE AMENDED AND RESTATED NOTE
     PURCHASE AGREEMENT

The  following  amendments  to the  Facilities  Agreement  and the  Amended  and
Restated Note Purchase  Agreement shall take effect on and from the Commencement
Date, subject to the terms and conditions of this Agreement.

4.1  Deferred Fee

The existing Clause 9.1.8 of the Facilities Agreement shall be deleted and shall
be replaced with the following:

"9.18  Deferred  fee:  (to the extent not paid in cash  pursuant  to the Interim
       Support  Agreement  dated on or about  14th May,  2003  relating  to this
       Agreement)  on 8th  November,  2004 or on such  earlier  date (if any) on
       which:

       (i)    the Total  Commitments are or have been reduced to zero and all of
              the outstanding Advances and Utilisations have been repaid in full
              or have become due and  payable in full  (whether by virtue of any
              notice given by the Agent under Clause 14.2 or otherwise); or

       (ii)   any enforcement of any Security Document occurs; or

                                       6

<PAGE>

       (iii)  the Parent is obliged to procure  that it and the other  Borrowers
              permanently prepay all of the Facilities in full; or

       (iv)   any "PIK  Management Fee" or "Deferred Make Whole Amount" (each as
              defined in the  Amended  and  Restated  Note  Purchase  Agreement)
              becomes  due and  payable  or is paid  or the PIK  Management  Fee
              Payment Date occurs,

              for the account of the Banks  (pro-rata  to their  Commitments  in
              respect of the  Revolving  Credit  Facility),  a  deferred  fee in
              Sterling  which shall accrue  quarterly in arrear from the date of
              the   execution  of  the  Agreement  in  Principle  and  shall  be
              calculated  on each accrual date as 0.25 per cent.  of the average
              of  the  daily  Sterling  Amount  of  the  principal  outstandings
              (including any  Outstanding  L/C  Liability)  under the Facilities
              during the two most recent  Quarters,  together  with  interest on
              such  deferred fee which shall accrue at 9.25 per cent.  per annum
              on the amount of each quarterly accrual of the deferred fee; and".

4.2  Zenith Joint Venture Agreement

Clause 8.6.3 of the  Facilities  Agreement  shall be amended by adding the words
"an amount equal to" immediately before the words "the Net Proceeds" in line 3.

4.3  Permitted Acquisitions

Clause 12.2.6(c) of the Facilities Agreement shall be deleted. Sub-paragraph (d)
of the definition of "Permitted  Acquisitions"  in Schedule B of the Amended and
Restated Note Purchase Agreement shall be deleted.

4.4  Dividends

In Clause 12.2.12(b) of the Facilities  Agreement the words from (and including)
the words  "except  that it may declare and pay a final  dividend" to the end of
that Clause shall be deleted. In Section 10.1.11 (b) of the Amended and Restated
Note Purchase Agreement the words from (and including) the words "except that it
may  declare  and pay a final  dividend"  to the end of that  Section  shall  be
deleted.

4.5  Adminstration

(a)  The existing  Clause 14.1.12 of the Facilities  Agreement  shall be deleted
     and shall be replaced with the following:

     "14.1.12  Administration: (a) any meeting of the shareholders, directors or
               other  officers  of any  Obligor or any  Material  Subsidiary  is
               convened for the purpose of considering any resolution to present
               an  application  for  an  administration   order  or  appoint  an
               administrator  or any such resolution is passed or (b) any person
               presents  a  petition  or files a  document  with a court for the
               administration  of any Obligor or any Material  Subsidiary or (c)
               an  administration  order  is  made  or  administrator  otherwise
               appointed in relation to any Obligor or any  Material  Subsidiary
               or (d) the  shareholders,  directors  or  other  officers  of any
               Obligor or any Material  Subsidiary request the appointment of or
               give notice of their  intention  to appoint an  administrator  in
               respect of any  Obligor  or any  Material  Subsidiary  or (e) any
               other step is taken by any person with a view to any  appointment
               of an  administrator  in respect of any  Obligor or any  Material
               Subsidiary; or".

                                       7

<PAGE>

(b)  The existing Section 11 of the Amended and Restated Note Purchase Agreement
     shall be  amended by (i)  renumbering  sub-paragraph  (h) as  sub-paragraph
     (h)(1) and (ii) by adding the following new sub-paragraph (h)(2) to read as
     follows:

     "(2) (i) any meeting of the  shareholders,  directors or other  officers of
     any  Obligor or any  Material  Subsidiary  is  convened  for the purpose of
     considering any resolution to present an application for an  administration
     order or appoint an  administrator or any such resolution is passed or (ii)
     any person  presents a  petition  or files a document  with a court for the
     administration  of any  Obligor  or any  Material  Subsidiary  or  (iii) an
     administration  order  is  made or  administrator  otherwise  appointed  in
     relation  to  any  Obligor  or  any   Material   Subsidiary   or  (iv)  the
     shareholders,  directors  or other  officers of any Obligor or any Material
     Subsidiary  request the appointment of or give notice of their intention to
     appoint  an  administrator  in  respect  of any  Obligor  or  any  Material
     Subsidiary  or (v) any other step is taken by any person with a view to any
     appointment of an  administrator  in respect of any Obligor or any Material
     Subsidiary; or".

4.6  Auditors Reports

(a)  Section 11 of the Amended and Restated  Note  Purchase  Agreement  shall be
     amended by (i)  replacing "." with "; or" at the end of  sub-paragraph  (q)
     and (ii) adding the following new sub-paragraph  (r) immediately  following
     sub-paragraph (q) to read as follows:

     "(r) the Auditors  qualify their report on the preliminary or final audited
          consolidated financial statements of the Group in any way except where
          the  qualification  has been agreed with the  Noteholders or where the
          remedy for the matter giving rise to the  qualification  would have no
          material  adverse effect on the results of the Group for the period to
          which such accounts relate nor on the financial  position of the Group
          as at the end of such  period or the  Auditors  include in that report
          any  emphasis  of matter  statement  in  relation  to any  fundamental
          uncertainty."; and

(b)  The existing Clause 14.1.22 of the Facilities Agreement shall be amended by
     adding the words "or the  Auditors  include in that report any  emphasis of
     matter  statement in relation to any fundamental  uncertainty"  immediately
     after the words "end of such period".

5.   Representations and Warranties

5.1  Repetition of representations and warranties

The  representations  and warranties in Clause 11.1 of the Facilities  Agreement
and in this Clause 5 (including  Clause 11.1.8 of the  Facilities  Agreement but
excluding the other excluded  representations) shall be deemed to be repeated by
the Parent on the date of this Agreement and on the Commencement Date as if made
with  reference  to the facts and  circumstances  existing on each such day. The
representations  and  warranties  in Section 5 of the Amended and Restated  Note
Purchase  Agreement  (excluding  Sections 5.3, 5.16,  5.17, 5.21, 5.26, 5.27 and
5.28) shall be deemed to be repeated by the Parent and the Issuer on the date of
this  Agreement and on the  Commencement  Date as if made with  reference to the
facts  and  circumstances  existing  on each  such day.  The  repetition  of the
representation  and  warranties  set  out in  Clause  11.1.8  of the  Facilities
Agreement and Section 5.20 of the Amended and Restated  Note Purchase  Agreement
on the date of this Agreement  shall be deemed to be made as if qualified by the
statement "other than the Specified Defaults and those other Defaults and Events
of Default which are waived pursuant to the Interim Support Agreement".

                                       8

<PAGE>

5.2  Zenith Joint Venture Agreement

The Parent represents and warrants to each Finance Party that:

(a)  any and all of the Group's  right,  interest and title in respect of shares
     in Zenith are and will be held at all times by the Zenith SPV; and

(b)  the copy of the joint venture agreement dated 27th September,  2001 between
     Cordiant  Communications  Group  plc,  Publicis  Groupe  SA and  Mediavista
     Limited which was  delivered to Allen & Overy and Bingham  McCutchen LLP by
     the Parent's legal advisers on or about 17th April, 2003 is true,  complete
     and accurate in all  respects  and,  save as referred to therein,  no other
     agreements,  arrangements or understandings exist between all or any of the
     parties to that agreement which might materially affect the transactions or
     arrangements  contemplated  by the Finance  Documents and that such copy is
     identical  to the copy of the joint  venture  agreement  relating to Zenith
     which was delivered to the Agent pursuant to the Restructuring Deed.

5.3  Waiver Request Package

(a)  The Parent represents and warrants to each Finance Party that:

     (i)    all factual  statements  contained in the Waiver Request Package (as
            defined  below)  were,  as at the  date  of this  Agreement  and the
            Commencement  Date,  true and accurate in all material  respects and
            did not contain any untrue  statement of a material  fact or omit to
            state a fact  necessary  in  order  to make  not  misleading  in any
            material respect the statements contained therein; and

     (ii)   all financial projections which have been prepared by the Parent (or
            on its behalf) and contained in the Waiver Request Package have been
            prepared in good faith and based upon assumptions  which were or are
            reasonable  at the time  prepared and at the time made  available to
            any Finance Party.

(b)  For the purposes of this Clause 5.3, Waiver Request Package means:

     (i)    the Couch Potato Summary;

     (ii)   the Disposal Summaries;

     (iii)  the Westbourne Terrace Letter; and

     (iv)   all other  information  projections and documentation (as updated in
            writing with the consent of the Agent and the  Noteholders  prior to
            the Commencement  Date) provided to the Agent, to the Noteholders or
            to  PricewaterhouseCoopers by the Parent or its advisers in relation
            to:

            (A)  the Couch Potato Acquisition;

            (B)  either of the disposals referred to in the Disposal Summaries;

            (C)  the Australian Disposals;

            (D)  the Zenith Joint Venture Agreement;

                                       9

<PAGE>

            (E)  the Westbourne Terrace Transaction; or

            (F)  any  of  the  waivers,  consents,  amendments  or  instructions
                 contained in this Agreement.

5.4  Issues with Key Clients

The Parent  represents  and warrants to each  Finance  Party that (after due and
careful enquiry) it is not aware of any issues in the Group's  relationship with
any of its Key Clients  that might (i)  indicate  that there is a risk that such
Key Client  intends to terminate  (or fail to renew) all or any material part of
its business with the Group or (ii) result in such a  termination  or failure to
renew,  save as fully and fairly disclosed in the report  delivered  pursuant to
paragraph 14 of Schedule 5 of this Agreement.

5.5  Group Structure Chart

The  Parent  represents  and  warrants  to each  Finance  Party  that the  Group
Structure Chart is a true, complete and correct  representation of the structure
of all members of the Group (and any companies,  joint  ventures,  businesses or
other  persons  in which the  Parent  (or any other  member of the Group) has an
interest)  and  describes  the  corporate  ownership  structure  of the Parent's
Subsidiaries including all minority interests in such Subsidiaries, in each case
as at the Commencement Date.

5.6  Constitutional Documents

The Parent represents and warrants to each Finance Party that the constitutional
documents of each  Obligor  which were  delivered  to the Agent  pursuant to the
Restructuring Deed and the Noteholders pursuant to the Amended and Restated Note
Purchase  Agreement  have not been  amended  or  varied,  other than only to the
extent  necessary  to  implement  or  reflect  a  change  of name  that has been
disclosed  in the Group  Structure  Chart and related  reconciliation  delivered
under this Agreement.

6.   Undertakings

6.1  Duration

The  undertakings  in this Clause 6 shall  remain in force from the date of this
Agreement and throughout the Support Period.

6.2  Undertakings

The Parent undertakes to each Finance Party:

(a)  to  deliver  to the Agent and the  Noteholders  every  Friday (i) a 13-week
     cashflow  forecast,  (ii) a 4-week  daily  cashflow  forecast  and  (iii) a
     certificate  (the  weekly  certificate),  signed  by  the  Group's  Finance
     Director (without  personal  liability (other than to the extent imposed by
     applicable law)),  stating that the Group has sufficient  liquidity for the
     following 13 week period.  Each such forecast  shall be delivered  together
     with an analysis and  explanation  in writing of that forecast by the Group
     Finance Director, which, in particular,  shall highlight and comment on any
     material  tightening of the terms and  conditions  of the Group's  supplier
     credit;

(b)  to ensure that no member of the Group makes any cash payments in respect of
     any earn out  arrangement  other than as  disclosed in writing to the Banks
     and the Noteholders on 30th April, 2003;

                                       10

<PAGE>

(c)  to ensure that the Borrowers will not utilise the Facilities  other than to
     the extent required to fund the Group's actual cash needs at that time;

(d)  to ensure that the total  Capital  Expenditure  of all members of the Group
     during  the  Support  Period  shall  not  exceed  (pound)4,000,000  (or its
     equivalent),  being  the  amount  indicated  in the cash  budget  delivered
     pursuant to Schedule 5 to this Agreement;

(e)  to continue to pursue  actively  the  disposals  programme  (the  Disposals
     Programme) and the other strategic options described in its presentation to
     the  Banks  and the  Noteholders  dated  28th  April,  2003 or  during  the
     conference  call with the Banks and the  Noteholders on the evening of 30th
     April, 2003 (it being acknowledged that any such disposal is subject to the
     requisite  consents of the Banks and the Noteholders) and, without limiting
     the  foregoing,  to use all reasonable  commercial  efforts to complete the
     Australian Disposals on terms and conditions  satisfactory to the Banks and
     the Noteholders by 15th May, 2003;

(f)  to keep the  Co-ordinators  Committee and the advisers to the Banks and the
     Noteholders  fully  and  promptly  informed  of  (i)  the  progress  of the
     Disposals Programme and (ii) any approaches to the Group or its advisors of
     any kind  whatsoever by any  potential  purchaser of all or any part of the
     Group's  business,  assets or undertaking or a controlling  shareholding in
     the Parent and any material  developments in the Group's (or its advisors')
     discussions with any such potential purchaser;

(g)  to keep the  Co-ordinators  Committee and the advisers to the Banks and the
     Noteholders fully and promptly informed of any material developments in the
     Group's  relationship  with any of its Key Clients  that might (i) indicate
     that there is a risk that such Key Client  intends to terminate (or fail to
     renew)  all or any  material  part of its  business  with the Group or (ii)
     result in such a termination or failure to renew;

(h)  to assist  PricewaterhouseCoopers  in the development of contingency  plans
     for the Banks and the Noteholders;

(i)  to  deliver  or  procure  that  there is  delivered  to the  Agent  and the
     Noteholders by no later than 1st July, 2003 a detailed plan relating to the
     continued  implementation of the Disposals Programme prepared by the Parent
     with Talbot  Hughes  McKillop LLP and approved by the board of directors of
     the  Parent  in  form  and  substance  satisfactory  to the  Banks  and the
     Noteholders;

(j)  to  deliver  to the Agent  (for the  distribution  to the Banks) and to the
     Noteholders  sufficient  copies for all of the Banks and the Noteholders of
     the  audited  consolidated  financial  statements  of  the  Group  for  the
     Financial Year ended 31st  December,  2002 (and the other items referred to
     in Clause  12.1.6(a) of the Facilities  Agreement and Section  7.1(d)(i) of
     the  Amended  and  Restated  Note  Purchase  Agreement)  together  with the
     auditors'  report  referred  to  in  Clause  12.1.6(e)  of  the  Facilities
     Agreement  and Section  7(d)(v) of the Amended and Restated  Note  Purchase
     Agreement as soon as possible  after the date of this  Agreement and in any
     event by no later than 30th June, 2003;

(k)  that no transfer or other  disposal of any  interest in any share in Zenith
     at any time will occur  without the prior  written  consent of the Majority
     Creditors  and that the  Zenith  SPV and the Parent  will not  transfer  or
     otherwise  dispose of or compromise any of their respective rights under or
     in respect of the Zenith Joint Venture Agreement;

(l)  that the Zenith SPV will not create any  Encumbrance  over any  interest in
     any share in Zenith  (and each of the  Parent  and the  Zenith SPV will not
     create any  Encumbrance  over any of their

                                       11

<PAGE>

     respective  rights  under  or  in  respect  of  the  Zenith  Joint  Venture
     Agreement) except under a Security Document;

(m)  to ensure that Bates Deutschland  Holding GmbH will grant, in favour of the
     Common Security  Trustee,  security (in form and substance  satisfactory to
     the Agent and the  Noteholders)  over the shares  which it owns in Scholz &
     Friends AG, within two weeks of a request by the Agent and the  Noteholders
     to provide such security; and

(n)  to  deliver,  or  procure  that  there is  delivered,  to the Agent and the
     Noteholders  by no later than 30th May, 2003,  legal opinions  addressed to
     the Finance  Parties (in form and substance  satisfactory  to the Agent and
     the  Noteholders) in respect of Microarts  Corporation and Interactive Edge
     Inc. in the event that either of those entities has not been disposed of by
     that date in accordance with the Disposal Summaries.

7.   Default

7.1  Event of Default

There shall be an immediate Event of Default under the Facilities  Agreement and
under the Amended and Restated Note Purchase  Agreement on the occurrence of any
of the events  specified in the definition of Support Period in Clause 1.1 above
(other  than that in  paragraph  (a) of such  definition)  unless  the  Majority
Creditors in their absolute discretion otherwise agree.

8.   Expenses

8.1  Fees and expenses

The Parent  shall  forthwith  on demand pay all  professional  fees and expenses
(including but not limited to the fees of Allen & Overy,  Bingham  McCutchen LLP
and PricewaterhouseCoopers) incurred by any Finance Party in connection with the
waivers,  releases,  consents,  amendments and instructions under or relating to
this Agreement or to any of the Finance Documents and all related  documentation
contemplated in such waivers,  releases,  consents,  amendments and instructions
whether or not the Commencement Date occurs.

8.2  Enforcement costs

The Parent shall forthwith on demand pay to each Finance Party the amount of all
costs and  expenses  (including  legal  fees)  incurred in  connection  with the
enforcement of, or the preservation of any rights under, any Finance Document.

9.   No Changes to the Obligors

9.1  Transfer of Obligors

No Obligor may assign,  transfer or novate or dispose of any of, or any interest
in, any of its rights and/or obligations under the Finance Documents.

10.  Amendments and Waivers

10.1 Procedure

(a)  Except  as  provided  in this  Clause,  any term of this  Agreement  may be
     amended  or  waived  with the  agreement  of the  Parent  and the  Majority
     Creditors. The Agent may effect, on behalf

                                       12

<PAGE>

     of the Banks, any amendment or waiver permitted under this Clause. Any such
     amendment or waiver with the requisite  consent shall be binding on all the
     Parties.

(b)  The  Agent  shall  promptly  notify  the Banks of any  amendment  or waiver
     effected under paragraph (a).

10.2 Exceptions

(a)  An amendment or waiver not agreed by a Finance Party which:

     (i)    relates to this Clause 10 (Amendments and Waivers); or

     (ii)   relates to a term of this  Agreement  which  expressly  requires the
            consent of that Party,

     is not binding on that Party.

(b)  An amendment or waiver which affects the rights and/or  obligations  of the
     Common  Security   Trustee  or  the  Agent  may  not  be  effected  without
     respectively the consent of the Common Security Trustee or the Agent.

10.3 Waivers and remedies cumulative

The rights of each Finance Party under this Agreement:

(a)  may be exercised as often as necessary;

(b)  are cumulative and not exclusive of its rights under the general law; and

(c)  may be waived only in writing and specifically.

Delay in  exercising or  non-exercise  of any such right is not a waiver of that
right.

11.  Confidentiality

(a)  Each Finance Party must keep  confidential  the terms of this Agreement and
     any information supplied to it by or on behalf of any Obligor in connection
     with this  Agreement.  However,  a Finance  Party is  entitled  to disclose
     information:

     (i)    which is publicly  available,  other than as a result of a breach by
            that Finance Party of this Clause;

     (ii)   in connection with any legal, regulatory or arbitration proceedings;

     (iii)  if required to do so under any law or regulation;

     (iv)   to a government, banking, taxation or other regulatory authority;

     (v)    to its officers, directors, employees and professional advisers;

     (vi)   to the extent allowed under paragraph (b) below; or

     (vii)  with the  agreement  of the Parent (as the  Obligors'  agent for the
            purposes of this Clause).

                                       13

<PAGE>

(b)  A Finance Party may disclose to an Affiliate or any person with whom it may
     enter,  or has entered into, any kind of transfer,  participation  or other
     agreement in relation to this Agreement (a participant):

     (i)    a copy of this Agreement and

     (ii)   any  information  which that Finance Party has acquired  under or in
            connection with this Agreement.

     However, before a participant may receive any confidential information,  it
     must  agree  with  the  relevant  Finance  Party to keep  that  information
     confidential in accordance with the terms of paragraph (a) above.

12.  Stamp Duties

The Parent  shall pay,  and  forthwith on demand  indemnify  each Finance  Party
against  any  liability  it incurs in respect  of, any stamp,  registration  and
similar  tax which is or becomes  payable  in  connection  with the entry  into,
performance or enforcement of this Agreement.

13.  Miscellaneous

13.1 This  Agreement  is a  "Bank  Finance  Document"  for the  purposes  of the
     Facilities Agreement,  a "Security Document" for the purposes of Clause 7.1
     of the Intercreditor Agreement, and a "Finance Document" for the purpose of
     the Amended and Restated Note Purchase Agreement.

13.2 To the extent that any amount that is paid to, or received  by, any Finance
     Party in respect  of its  Liabilities  is,  pursuant  to the  Intercreditor
     Agreement,  required  to be applied  towards  any other  Liabilities,  that
     Finance  Party's  relevant  Liabilities  will be  deemed  not to have  been
     reduced or discharged by that payment or receipt and will be payable at the
     earliest time that is in accordance with the Intercreditor  Agreement (and,
     if  interest  is not  otherwise  accruing  on those  Liabilities  under the
     Finance  Documents,  interest will accrue on those  Liabilities (a) (in the
     case of a Bank) under the Facilities  Agreement as if they were unpaid sums
     under that  agreement,  but at a rate 1 per cent. per annum less than which
     would  otherwise  be  applicable  under  Clause  5.5.2  of  the  Facilities
     Agreement or (b) (in the case of a Noteholder) under Section  8.1(a)(ii) of
     the Amended and Restated Note Purchase  Agreement as if they were principal
     amounts of the Notes).

13.3 Save as waived, consented to or amended by this Agreement the provisions of
     the  Facilities  Agreement  and the  Amended  and  Restated  Note  Purchase
     Agreement  shall  continue  in full  force and  effect  and the  Facilities
     Agreement  or, as the case may be, the Amended and Restated  Note  Purchase
     Agreement and this Agreement shall be read and construed as one instrument.
     Where there is an  inconsistency  between this Agreement and the Facilities
     Agreement  or, as the case may be, the Amended and Restated  Note  Purchase
     Agreement this Agreement will prevail.

13.4 For the  avoidance  of  doubt,  the  Parent  and each  other  Obligor  also
     represents and warrants that its obligations  under the Security  Documents
     (and in the case of the Parent,  those  obligations  of each other Obligor)
     continue  in  full  force  and  effect  (and   guarantee   and  secure  (as
     appropriate) all Liabilities including,  without limitation,  in respect of
     the Notes and the Amended  and  Restated  Note  Purchase  Agreement  or the
     Facilities  Agreement (in each case as amended by this  Agreement)  and the
     Finance   Parties'   other   interests   under  the   Finance   Documents),
     notwithstanding the waivers, amendments and consents granted or made

                                       14

<PAGE>

     pursuant to this Agreement.  The Parent and each Obligor shall, if and when
     at any time required by the Agent or the Noteholders (to the extent legally
     possible)  execute such further  documents,  confirmations,  guarantees and
     Encumbrances in favour of or for the benefit of the Common Security Trustee
     and the other  Finance  Parties and do all acts and things as the Agent and
     the Noteholders shall from time to time require in relation to the Security
     Documents  to  perfect,  protect or confirm  the  guarantees  and  security
     intended to be created by those documents.

13.5 In order to induce the Finance Parties to enter into this  Agreement,  each
     Obligor  acknowledges and agrees that (a) no Obligor has any claim or cause
     of action against any Finance Party (or any of their respective  directors,
     officers,  employees  or  agents)  (b) no  Obligor  has any  offset  right,
     counterclaim  or  defence  of  any  kind  against  any  of  its  respective
     obligations,  indebtedness or liabilities to any Finance Party and (c) each
     Finance Party has, up to the date of this Agreement, properly performed and
     satisfied in a timely manner all of its  obligations  to the Obligors.  The
     Obligors wish to eliminate any possibility that any past conditions,  acts,
     omissions,  events,  circumstances  or matters  would  impair or  otherwise
     adversely affect any of the Finance Parties' rights, interests,  contracts,
     collateral security or remedies.  Therefore,  each Obligor  unconditionally
     releases,  waives  and  forever  discharges  (i) any  and all  liabilities,
     obligations,  duties,  promises or  indebtedness of any kind of any Finance
     Party to any Obligor, except the obligations to be performed by any Finance
     Party on or after the date hereof as expressly stated in this Agreement and
     the Finance Documents and (ii) all claims, offsets, causes of action, suits
     or defences of any kind  whatsoever (if any),  whether arising at law or in
     equity,  whether known or unknown,  which any Obligor might  otherwise have
     against any Finance Party or any of its directors,  officers,  employees or
     agent,  in either  case (i) or (ii),  on account  of any past or  presently
     existing condition, act, omission, event, contract, liability,  obligation,
     indebtedness,  claim, cause of action,  defence,  circumstance or matter of
     any kind.

13.6 Each Obligor agrees to be bound by this Agreement  notwithstanding that any
     person  intended to execute or to be bound by this  Agreement may not do so
     or may not be effectually bound.

14.  Counterparts

This Agreement may be executed in any number of  counterparts,  and this has the
same effect as if the  signatures on the  counterparts  were on a single copy of
this Agreement.

15.  Notices

All  notices  or other  communications  under  this  Agreement  shall be made by
letter, facsimile or in person and shall be deemed to be duly given or made when
delivered to (in the case of by letter or person) or when  received (in the case
of facsimile) the relevant party at its address or facsimile number as specified
in the Finance  Documents and for the attention of the person therein  specified
(or such other  address or  facsimile  number as may be  specified to each other
party hereto on at least five Banking Days' prior to notice).

16.  Jurisdiction and Governing Law

16.1 Governing law

This Agreement is governed by English Law.

                                       15

<PAGE>

16.2 Submission

For the benefit of each Finance Party, each Obligor agrees that:

(a)  the courts of England have exclusive jurisdiction to settle any disputes in
     connection with this Agreement; and

(b)  the English Courts are the most appropriate and convenient courts to settle
     any such disputes.

16.3 Service of process

Without prejudice to any other mode of service, each Obligor not incorporated in
England and Wales:

(a)  irrevocably  appoints  the  Parent as its agent for  service  of process in
     relation to any  proceedings  before the English courts in connection  with
     this Agreement (and the Parent irrevocably and unconditionally accepts that
     appointment);

(b)  agrees that failure by the process agent to notify the relevant  Obligor of
     the process will not invalidate the proceedings concerned;

(c)  consents to the  service of process  relating  to any such  proceedings  by
     prepaid  posting of a copy of the process to its address for the time being
     notified under Clause 15 (Notices).

16.4 Forum convenience and enforcement abroad

Each Obligor:

(a)  waives objection to the English courts on grounds of inconvenient  forum or
     otherwise as regards proceedings in connection with this Agreement; and

(b)  agrees that a judgment or order of an English court in connection with this
     Agreement is conclusive and binding on it and may be enforced against it in
     the courts of any other jurisdiction.

16.5 Non-exclusivity

Nothing  in this  Clause  16  limits  the  right of any  Finance  Party to bring
proceedings against an Obligor in connection with the Finance Documents:

(a)  in any other court of competent jurisdiction; or

(b)  concurrently in more than one jurisdiction.

16.6 Waiver of trial by jury

EACH  OBLIGOR  HEREBY  WAIVES  ANY AND ALL  RIGHT TO TRIAL BY JURY IN ANY  LEGAL
PROCEEDINGS  ANYWHERE  ARISING  OUT OF OR  RELATING  TO  THIS  AGREEMENT  OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

17.  Contracts (Rights of Third Parties) Act 1999

No term of this  Agreement is enforceable  under the contracts  (Rights of Third
Parties) Act 1999 by a person who is not a party to this Agreement.

                                       16

<PAGE>

                                   SCHEDULE 1

                              CERTAIN SUBSIDIARIES

CORDIANT FINANCE, INC.

ATLAS ADVERTISING LIMITED

BATES EUROPE LIMITED

BATES UK LIMITED

HP:ICM LIMITED

THE DECISION SHOP LIMITED

BATES DEUTSCHLAND HOLDINGS GMBH

BATES ADVERTISING USA, INC.

BATES HEALTHWORLD, INC.

BATES WORLDWIDE (DELAWARE), INC.

BAMBER FORSYTH LIMITED

CCG.XM, INC.

CORDIANT US HOLDINGS, INC.

FALK HEALTHWORLD, INC.

FITCH, INC.

141 GERMANY GMBH

HEALTHWORLD CORPORATION

LIGHTHOUSE GLOBAL NETWORK, INC.

MORGEN-WALKE ASSOCIATES, INC.

HEALTHWORLD UK LIMITED

BATES OVERSEAS HOLDINGS LIMITED

BULLETIN INTERNATIONAL LIMITED

BULLETIN INTERNATIONAL UK LIMITED

FD INTERNATIONAL LIMITED

                                       17

<PAGE>

C&FD (HOLDINGS) LIMITED

CCG.XM

CCG.XM HOLDINGS LIMITED

CCG.XM (UK) LIMITED

CLARION COMMUNICATIONS (P.R.) LIMITED

COLWOOD HEALTHWORLD LIMITED

CONNECT FIVE LIMITED

CONNECT ONE LIMITED

CONNECT SIX LIMITED

CORDIANT GROUP LIMITED

CORDIANT OVERSEAS HOLDINGS LIMITED

CORDIANT PROPERTY HOLDINGS LIMITED

CORDIANT (US) HOLDINGS LIMITED

CORPORATE & FINANCIAL DESIGN LIMITED

DECKCHAIR STUDIO LIMITED

FINANCIAL DYNAMICS HOLDINGS LIMITED

FINANCIAL DYNAMICS LIMITED

FITCH INTERNATIONAL LIMITED

FITCH LIMITED

FITCH WORLDWIDE LIMITED

GARROTT DORLAND CRAWFORD HOLDINGS LIMITED

HEADCOUNT WORLDWIDE FIELD MARKETING LIMITED

HEALTHWORLD HOLDINGS LIMITED

HEALTHWORLD UK HOLDINGS LIMITED

LIGHTHOUSE HOLDINGS (UK) LIMITED

MILTON MARKETING GROUP LIMITED

                                       18

<PAGE>

MILTON MARKETING LIMITED

PCI LIVEDESIGN LIMITED

PROPOSE TWO LIMITED

PSD ASSOCIATES LIMITED

SCHOLZ & FRIENDS LONDON LIMITED

SECURE TWO LIMITED

FITCH DESIGN CONSULTANTS LIMITED

SONIC SUN LIMITED

SWOT PLUS LIMITED

TED BATES HOLDINGS LIMITED

ULTIMATE EVENTS LIMITED

XMSS LIMITED

CHANNELEX, INC.

DRUMMER ASSOCIATES, INC.

DWP BATES TECHNOLOGY LLC

HEATHWORLD INTERNATIONAL HOLDINGS, INC.

INTERACTIVE EDGE, INC.

MICROARTS CORPORATION

PECLERS PARIS NORTH AMERICA, INC.

PRIMO ANGELI INC.

S&S MCC AND MCC, INC.

THE DECISION SHOP, INC.

THE LEONHARDT GROUP, INC.

                                       19

<PAGE>

BATES GERMANY WERBEAGENTUR GMBH

CORDIANT HOLDINGS GMBH

141 GERMANY GMBH

XCEED! AGENTUR FUR MEDIANBERATUNG UND INNOVATIVE KOMMUNIKATION GMBH

CHAFMA B.V.

CORDIANT FINANCE B.V.

                                       20

<PAGE>

                                   SCHEDULE 2

                                     BANKS

ALLIED IRISH BANKS, PLC

CCF SA

CARGILL FINANCIAL MARKETS PLC

DEUTSCHE BANK AG, LONDON

FLEET NATIONAL BANK

GOLDMAN SACHS CREDIT PARTNERS L.P.

HSBC BANK PLC

LLOYDS TSB BANK PLC

MORGAN STANLEY & CO. INTERNATIONAL LIMITED

SCOTIABANK EUROPE PLC

THE BANK OF NEW YORK

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

THE ROYAL BANK OF SCOTLAND PLC

WESTLB AG

                                       21

<PAGE>

                                   SCHEDULE 3

                              CURRENT NOTEHOLDERS

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY

PRUCO LIFE INSURANCE COMPANY

HARTFORD LIFE INSURANCE COMPANY

MASSACHUSETTS MUTUAL INSURANCE COMPANY

CERBERUS PARTNERS, L.P.

STRATEGIC VALUE PARTNERS, LLC

                                       22

<PAGE>

                                   SCHEDULE 4

                                     PART 1

                   SPECIFIED DEFAULTS - FACILITIES AGREEMENT

1.   The breach of Clause  13.1.1 of the  Facilities  Agreement  in so far as it
     relates to the 12 month period ending 31st March, 2003;

2.   The breach of Clause  13.1.2 of the  Facilities  Agreement  in so far as it
     relates to the 12 month period ending 31st March, 2003;

3.   Each Event of Default pursuant to Clause 14.1.6 of the Facilities Agreement
     in respect of  Specified  Defaults  under the  Amended  and  Restated  Note
     Purchase Agreement;

4.   The breach of Clause 14.1.22 of the Facilities  Agreement in respect of the
     preliminary  consolidated  financial  statements  of the Group for the year
     ending 31st December 2002;

5.   The breach of Clause 12.1.6(a) of the Facilities  Agreement in so far as it
     relates  to the non  delivery  by the  Parent of the  audited  consolidated
     financial  statements of the Group (and the other items referred to in that
     Clause) for the Financial Year ended 31st December,  2002 together with the
     auditors report referred to in Clause 12.1.6(e) of the Facilities Agreement
     by no later than 31st March, 2003;

6.   The breach of Clause  14.1.1 of the  Facilities  Agreement  in so far as it
     relates to the failure by the Parent to pay the Deferred Fee referred to in
     Clause 9.1.8 of the  Facilities  Agreement,  prior to the amendment of such
     Clause under this Agreement and without  prejudice to the  requirements  of
     paragraph 3 of Schedule 5 to this  Agreement  or under  Clause 9.1.8 of the
     Facilities Agreement, as amended by this Agreement;

7.   The breach of Clause  14.1.21 of the  Facilities  Agreement in so far as it
     relates to the notice by Allied Domecq of the  termination of its contracts
     with the Group; and

8.   The breach of Clause  12.2.6 of the  Facilities  Agreement  in so far as it
     relates to the Couch Potato Acquisition.

                                       23

<PAGE>

                                   SCHEDULE 4

                                     PART 2

       SPECIFIED DEFAULTS - AMENDED AND RESTATED NOTE PURCHASE AGREEMENT

1.   The breach of Section  10.3.1(a) of the Amended and Restated  Note Purchase
     Agreement in so far as it relates to the 12 month period ending 31st March,
     2003;

2.   The breach of Section  10.3.1(b) of the Amended and Restated  Note Purchase
     Agreement in so far as it relates to the 12 month period ending 31st March,
     2003;

3.   Each Event of Default  pursuant  to Section  11(f)(ii)  of the  Amended and
     Restated Note Purchase Agreement in respect of Specified Defaults under the
     Facilities Agreement;

4.   The breach of Section  7.1(d)(i) of the Amended and Restated  Note Purchase
     Agreement in so far as it relates to the  non-delivery by the Parent of the
     audited financial  statements of the Group (and the other items referred to
     in that Section) for the Financial Year ended 31st December,  2002 together
     with the auditors  report  referred to in Section  7.1(d)(v) of the Amended
     and Restated Note Purchase Agreement by no later than 31st March, 2003; and

5.   The breach of Section  10.1.6 of the Amended  and  Restated  Note  Purchase
     Agreement in so far as it relates to the Couch Potato Acquisition.

                                       24

<PAGE>

                                   SCHEDULE 5

                              CONDITIONS PRECEDENT

1.   A copy  of this  Agreement  countersigned  by the  Parent  and  each of the
     Subsidiaries listed in Schedule 1.

2.   Confirmation   from   Allen   &   Overy,    Bingham   McCutchen   LLP   and
     PricewaterhouseCoopers  that they have received  payment from the Parent in
     respect  of  all  professional   fees  and  expenses  incurred  up  to  the
     Commencement  Date in  connection  with all  waivers,  releases,  consents,
     amendments  and  instructions  under  or  relating  to any  of the  Finance
     Documents  and all  related  documentation  contemplated  in such  waivers,
     releases, consents, amendments and instructions.

3.   Evidence of the  payment of  (pound)32,448.63  to the Agent in  immediately
     available  cleared  funds in  payment  of the  deferred  fee (and  interest
     thereon) to the date of this Agreement under Clause 9.1.8 of the Facilities
     Agreement (as amended by this Agreement) in respect of the New Money.

4.   A copy of the group  structure  chart showing all members of the Group (and
     any companies, joint venture businesses or other person in which the Parent
     (or any other  member of the Group) has an  interest)  and  describing  the
     corporate  ownership structure of the Parent's  Subsidiaries  including all
     minority  interests  in  such   Subsidiaries,   in  each  case  as  at  the
     Commencement   Date  (the   Group   Structure   Chart)   together   with  a
     reconciliation of the differences between the Group Structure Chart and the
     structure  chart  delivered by the Parent to the Agent in  accordance  with
     Schedule 5 of the  Restructuring  Deed and  delivered  by the Parent to the
     Noteholders  in  accordance  with  Section 4.14 of the Amended and Restated
     Note Purchase Agreement.

5.   Certified  copies  of  corporate  authorities  in  relation  to each of the
     Obligors.

6.   Legal Opinions provided by:

     (a)  (to the Banks) Allen & Overy, English legal advisers to the Banks.

     (b)  (to the Noteholders) Macfarlanes, English legal advisers to the Group.

     (c)  (to the Finance Parties) Legal advisors in each  jurisdiction in which
          an Obligor is incorporated or formed other than England (other than in
          respect  of  Cordiant  Australia,   GPB,  Microarts   Corporation  and
          Interactive Edge Inc.).

7.   An original of the Bank  co-ordinator's  engagement letter duly executed by
     the Banks and the  Obligors  together  with  evidence of the payment of the
     work fees of  (pound)375,000  in aggregate due  thereunder  in  immediately
     available cleared funds.

8.   An  original  of  the  Noteholder  co-ordinator's  engagement  letter  duly
     executed by the Noteholders and the Obligors  together with evidence of the
     payment of the work fees of  (pound)375,000  in aggregate due thereunder in
     immediately  available  cleared  funds  for the  pro  rata  account  of the
     Noteholders.

9.   A copy of the revised  Talbot Hughes  McKillop LLP  engagement  letter duly
     executed by the Obligors.

                                       25

<PAGE>

10.  A copy of the  Group's  employee  retention  plan (the  Employee  Retention
     Plan).

11.  Evidence of the  implementation of the Employee Retention Plan at a cost to
     the Group not exceeding  the cost  indicated in that plan and evidence that
     the  Executive  Incentive  Plan is agreed in  principle  with the  relevant
     executives and will be implemented as soon as is practicable and consistent
     with the City  Code on  Takeovers  and  Mergers  at a cost to the Group not
     exceeding the cost indicated in that plan.

12.  A copy of the Group's key executive incentive plan (the Executive Incentive
     Plan).

13.  A cash budget for the Group for the period  ending 15 July,  2003  together
     with a commentary thereon by PricewaterhouseCoopers.

14.  A formal written report on the Group's relationships and prospects with its
     Key Clients,  such report to be based on discussions with those Key Clients
     after the announcement of the termination of the Allied Domecq contract.

                                       26
<PAGE>

                                  SIGNATORIES

THE PARENT

/s/ S. WILSON
...............................
CORDIANT COMMUNICATIONS GROUP PLC

THE OBLIGORS:

/s/ ANDREW BOLAND
......................................
CORDIANT FINANCE, INC.

/s/ DENISE WILLIAMS
......................................
ATLAS ADVERTISING LIMITED

/s/ DENISE WILLIAMS
......................................
BATES EUROPE LIMITED

/s/ DENISE WILLIAMS
......................................
BATES UK LIMITED

/s/ DENISE WILLIAMS
......................................
HP:ICM LIMITED

/s/ DENISE WILLIAMS
......................................
THE DECISION SHOP LIMITED

/s/ RJ HENRY
......................................
BATES DEUTSCHLAND HOLDINGS GMBH

                                       27

<PAGE>

/s/ ANDREW BOLAND
......................................
BATES ADVERTISING USA, INC.

/s/ ANDREW BOLAND
......................................
BATES HEALTHWORLD, INC.

/s/ ANDREW BOLAND
......................................
BATES WORLDWIDE (DELAWARE), INC.

/s/ DENISE WILLIAMS
......................................
BAMBER FORSYTH LIMITED

/s/ ANDREW BOLAND
......................................
CCG.XM, INC.

/s/ ANDREW BOLAND
......................................
CORDIANT US HOLDINGS, INC.

/s/ ANDREW BOLAND
......................................
FALK HEALTHWORLD, INC.

/s/ ANDREW BOLAND
......................................
FITCH, INC.

(signed below)
......................................
141 GERMANY GMBH

/s/ ANDREW BOLAND
......................................
HEALTHWORLD CORPORATION

                                       28

<PAGE>

/s/ ANDREW BOLAND
......................................
LIGHTHOUSE GLOBAL NETWORK, INC.

/s/ ANDREW BOLAND
......................................
MORGEN-WALKE ASSOCIATES, INC.

/s/ DENISE WILLIAMS
......................................
HEALTHWORLD UK LIMITED

/s/ DENISE WILLIAMS
......................................
BATES OVERSEAS HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
BULLETIN INTERNATIONAL LIMITED

/s/ DENISE WILLIAMS
......................................
BULLETIN INTERNATIONAL UK LIMITED

/s/ DENISE WILLIAMS
......................................
FD INTERNATIONAL LIMITED

/s/ DENISE WILLIAMS
......................................
C&FD (HOLDINGS) LIMITED

/s/ DENISE WILLIAMS
......................................
CCG.XM

/s/ DENISE WILLIAMS
......................................
CCG.XM HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
CCG.XM (UK) LIMITED

                                     29

<PAGE>

/s/ DENISE WILLIAMS
......................................
CLARION COMMUNICATIONS (P.R.) LIMITED

/s/ DENISE WILLIAMS
......................................
COLWOOD HEALTHWORLD LIMITED

/s/ DENISE WILLIAMS
......................................
CONNECT FIVE LIMITED

/s/ DENISE WILLIAMS
......................................
CONNECT ONE LIMITED

/s/ DENISE WILLIAMS
......................................
CONNECT SIX LIMITED

/s/ DENISE WILLIAMS
......................................
CORDIANT GROUP LIMITED

/s/ DENISE WILLIAMS
......................................
CORDIANT OVERSEAS HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
CORDIANT PROPERTY HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
CORDIANT (US) HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
CORPORATE & FINANCIAL DESIGN LIMITED

                                       30

<PAGE>

/s/ DENISE WILLIAMS
......................................
DECKCHAIR STUDIO LIMITED

/s/ DENISE WILLIAMS
......................................
FINANCIAL DYNAMICS HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
FINANCIAL DYNAMICS LIMITED

/s/ DENISE WILLIAMS
......................................
FITCH INTERNATIONAL LIMITED

/s/ DENISE WILLIAMS
......................................
FITCH LIMITED

/s/ DENISE WILLIAMS
......................................
FITCH WORLDWIDE LIMITED

/s/ DENISE WILLIAMS
......................................
GARROTT DORLAND CRAWFORD HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
HEADCOUNT WORLDWIDE FIELD MARKETING LIMITED

/s/ DENISE WILLIAMS
......................................
HEALTHWORLD HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
HEALTHWORLD UK HOLDINGS LIMITED

                                       31

<PAGE>

/s/ DENISE WILLIAMS
......................................
LIGHTHOUSE HOLDINGS (UK) LIMITED

/s/ DENISE WILLIAMS
......................................
MILTON MARKETING GROUP LIMITED

/s/ DENISE WILLIAMS
......................................
MILTON MARKETING LIMITED

/s/ DENISE WILLIAMS
......................................
PCI LIVEDESIGN LIMITED

/s/ DENISE WILLIAMS
......................................
PROPOSE TWO LIMITED

/s/ DENISE WILLIAMS
......................................
PSD ASSOCIATES LIMITED

/s/ DENISE WILLIAMS
......................................
SCHOLZ & FRIENDS LONDON LIMITED

/s/ DENISE WILLIAMS
......................................
SECURE TWO LIMITED

/s/ DENISE WILLIAMS
......................................
FITCH DESIGN CONSULTANTS LIMITED

/s/ DENISE WILLIAMS
......................................
SONIC SUN LIMITED

/s/ DENISE WILLIAMS
......................................
SWOT PLUS LIMITED

                                       32

<PAGE>

/s/ DENISE WILLIAMS
......................................
TED BATES HOLDINGS LIMITED

/s/ DENISE WILLIAMS
......................................
ULTIMATE EVENTS LIMITED

/s/ DENISE WILLIAMS
......................................
XMSS LIMITED

/s/ ANDREW BOLAND
......................................
CHANNELEX, INC.

/s/ ANDREW BOLAND
......................................
DRUMMER ASSOCIATES, INC.

/s/ ANDREW BOLAND
......................................
DWP BATES TECHNOLOGY LLC

/s/ ANDREW BOLAND
......................................
HEATHWORLD INTERNATIONAL HOLDINGS, INC.

/s/ ANDREW BOLAND
......................................
INTERACTIVE EDGE, INC.

/s/ ANDREW BOLAND
......................................
MICROARTS CORPORATION

/s/ ANDREW BOLAND
......................................
PECLERS PARIS NORTH AMERICA, INC.

                                       33

<PAGE>

/s/ ANDREW BOLAND
......................................
PRIMO ANGELI INC.

/s/ ANDREW BOLAND
......................................
S&S MCC AND MCC, INC.

/s/ ANDREW BOLAND
......................................
THE DECISION SHOP, INC.

/s/ ANDREW BOLAND
......................................
THE LEONHARDT GROUP, INC.

/s/ GERD NEUMANN
/s/ ULRICH VEIGEL
......................................
BATES GERMANY WERBEAGENTUR GMBH

/s/ GERARD ZOETEBIER
......................................
CORDIANT HOLDINGS GMBH

/s/ EUGEN KERN
/s/ MARCUS STARKE
......................................
141GERMANY GMBH

/s/ THOMAS BRAUN
/s/ WALTHER KAFT
......................................
XCEED! AGENTUR FUR MEDIANBERATUNG UND INNOVATIVE KOMMUNIKATION GMBH

/s/ S. WILSON
......................................
CHAFMA B.V.

/s/ S. WILSON
......................................
CORDIANT FINANCE B.V.

                                       34

<PAGE>

THE BANKS

/s/ MICHAEL BARRY
...............................
ALLIED IRISH BANKS, PLC

/s/ DIRK VAN DORF
...............................
CCF

/s/ MICHELLE DAHLEY
...............................
CARGILL FINANCIAL MARKETS PLC

/s/ LINDSAY POWELL
/s/ ROBERT FOULSTON
...............................
DEUTSCHE BANK AG, LONDON

/s/ CORINNE BARRETT
...............................
FLEET NATIONAL BANK

/s/ PATRICIA TESSIER
...............................
GOLDMAN SACHS CREDIT PARTNERS L.P.

/s/ GARY LEE
...............................
HSBC BANK PLC

/s/ PETER ROBSON
...............................
LLOYDS TSB BANK PLC

/s/ LARS LEMONIUS
...............................
MORGAN STANLEY & CO. INTERNATIONAL LIMITED

/s/ STEVE DOBSON
...............................
SCOTIABANK EUROPE PLC

                                       35

<PAGE>

/s/ PETER HELT
...............................
THE BANK OF NEW YORK

/s/ ALLAN RAMSAY
...............................
THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

/s/ IAN ROBERTS
...............................
THE ROYAL BANK OF SCOTLAND PLC

/s/ TIM SAI LOUIE
/s/ ACHIM TESKE
...............................
WESTLB AG

THE NOTEHOLDERS

/s/ [Authorized Signature]
...............................
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

/s/ [Authorized Signature]
...............................
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY

/s/ [Authorized Signature]
...............................
PRUCO LIFE INSURANCE COMPANY

/s/ [Authorized Signature]
...............................
HARTFORD LIFE INSURANCE COMPANY

By:      Prudential Private Placement Investors, L.P.
         (as Investment Advisor)
By:      Prudential Private Placement Investors, Inc.
         (as its General Partner)

/s/ [Authorized Signature]
...............................
MASSACHUSETTS MUTUAL INSURANCE COMPANY

                                       36

<PAGE>

/s/ [Authorized Signature]
...............................
CERBERUS PARTNERS, L.P.

By:      Cerberus Associates, LLC,
         Its General Partner

/s/ [Authorized Signature]
...............................
STRATEGIC VALUE PARTNERS, LLC

THE AGENT, SECURITY TRUSTEE AND THE COMMON SECURITY TRUSTEE

/s/ KHALID RAJA
...............................
HSBC BANK PLC

                                       37

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