MEDIACOM AND WING LATINO GROUP ANNOUNCE HISPANIC MEDIA PARTNERSHIP: MEDIACOMLATINO Setting new marketing standards for reaching Hispanic consumers

NEW YORK, FEBRUARY 12, 2003 -- MediaCom, one of the worlds leading independent strategic media planning and buying agencies, and WING Latino Group, a leading Hispanic marketing communications firm, announced today a new partnership to create MediaComLatino, a joint venture between the two companies that provides specialized, expert Hispanic media buying services. The partnership meshes WING Latino Groups Hispanic marketing communications expertise with MediaComs proprietary media buying, measurement, and optimization tools and buying clout. MediaCom and WING Latino Group are partner companies of Grey Global Group (Nasdaq:GREY).

MediaCom, one of the worlds leading independent strategic media planning and buying agencies, and WING Latino Group, a leading Hispanic marketing communications firm, announced today a new partnership to create MediaComLatino, a joint venture between the two companies that provides specialized, expert Hispanic media buying services. The partnership meshes WING Latino Groups Hispanic marketing communications expertise with MediaComs proprietary media buying, measurement, and optimization tools and buying clout. MediaCom and WING Latino Group are partner companies of Grey Global Group (Nasdaq:GREY).

MediaComLatino will be led by co-directors Jose Aybar, Vice President & Managing Director, WING Latino Group, and Maria Cueva, Vice President and Director of Joint Ventures, MediaCom. Jackie Bird, President and CEO of WING Latino Group, and Jon Mandel, Co-CEO and Chief Negotiating Officer of MediaCom, will serve as strategic and operational directors for MediaComLatino.

MediaComLatino and our strategic buying approach is rooted in the reality of todays media marketplace, one that demands greater emphasis on Hispanic consumers," stated Ms. Bird. The Hispanic population is too large to be considered a niche market any longer, and to target them - it requires media experts with a granular understanding of the language, Hispanic culture, and media interaction. MediaComLatino delivers this unique mix of general market media tools and Hispanic marketing expertise to effectively create efficient and successful media buys."

Our goal is to level the playing field. Hispanics currently represent 13% of the total U.S. population and $540 billion of consumer buying clout, but companies are investing less than 3.2% of their advertising budgets to target Hispanics, undeniably missing a huge opportunity," said Mr. Mandel. MediaComLatino will guide marketers through the burgeoning Hispanic marketplace, and use our proprietary media tools and internal experts who possess a deep understanding of the media habits, culture, and language of Hispanic consumers in order to lead advertisers in this new media environment."

Hispanic consumers have distinctive media patterns, culture, and language, and American corporations and marketers need to understand these idiosyncrasies. MediaComLatinos unique and superior proprietary tools combined with seasoned Hispanic media professionals deliver more effective media strategies for our clients. The MediaComLatino toolbox includes MaxisTM, MediaComs proprietary media optimization tool that determines program-by-program reach for the Hispanic and general markets, delivering a level of detail previously unavailable in the marketplace.

The partnership addresses not only the largely untapped potential of the Hispanic marketplace but also the proliferation of Hispanic media as well as changing marketers needs. Spanish-language media ranks number one in several markets, including Los Angeles and New York, where the top radio stations are Spanish-language. Overall, Hispanic radio is the third most popular format. MediaComLatino offers its clients well-respected executives with over 20 years of expertise in Hispanic media planning, media buying, and negotiating for the Hispanic marketplace.

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About MediaCom
MediaCom is one of the worlds largest strategic media planning and buying companies. With over $11 billion in global billings and offices in 67 countries, MediaCom provides business-building media solutions for some of the worlds largest advertisers. MediaCom is a partner company of Grey Global Group, Inc. (Nasdaq: GREY).

About WING Latino Group
WING Latino Group provides integrated Hispanic marketing communications services for some of the worlds leaders in industries expanding from healthcare, electronics, consumer products, food and beverage, and beauty. With capitalized billings of $80 million, WING Latino Group is considered one of the top Hispanic-market multicultural agencies specializing in the Hispanic market in the United States, Puerto Rico and Latin America. WING Latino Group is an independent partner company of Grey Global Group, Inc. (Nasdaq: GREY).