<PAGE>
The Impact of Change
[TRUE NORTH LOGO]
December 2000
<PAGE>
AGENDA
I. The Commitments/The Progress
II. The Changes since April 1999
III. Signs of Vitality
IV. Current Projects
V. Strengths Going Forward
<PAGE>
I. THE COMMITMENTS/
THE PROGRESS
<PAGE>
#1. PRIORITY: GROWTH - ORGANIC
PROGRESS: THROUGH ORGANIC GROWTH AND NET NEW
BUSINESS WINS
- Organic growth momentum continues to build with seven consecutive
quarters of improvement
- 1999 net new business wins increased 28% to $640 million in equivalent
annualized billings; first nine months 2000 doubled vs. year ago
<PAGE>
#1 PRIORITY: GROWTH - ORGANIC
PROGRESS: THROUGH EXPANDING COLLABORATION
THROUGH THE BUSINESS UNITS
- Over 200 account referrals resulting in new business since April `99
- Set the stage for continuous growth
- Infrastructure
- Chief Collaboration Officer
- 50 Officers throughout TN companies
- "Keep the family money" incentive program
<PAGE>
#1 PRIORITY: GROWTH - ORGANIC
PROGRESS: THROUGH ENTREPRENEURSHIP
- New America Strategies Group
- The first multicultural, holistic agency
- Bozell Kamstra
- From start-up two years ago to over $300 million; clients include
Dow Chemical, Tyco International, Fujitsu global campaign
- Database
- Created high-end database consultancy - AnalyticI
- 35 full-time professionals
- FCB-owned/shared by all TN companies
<PAGE>
#1 PRIORITY: GROWTH - ACQUISITIONS
COMMITMENTS:
- Expand position outside the U.S.: emphasis Europe
- Focus on faster growing non-traditional practices:
- Public Relations (BSMG)
- Sales Promotion (Marketing Drive)
- Multicultural and other emerging markets (NASG)
<PAGE>
#1 PRIORITY: GROWTH - ACQUISITIONS
PROGRESS: EXPAND POSITION IN EUROPE
FCB WORLDWIDE
-------------
- UNITED KINGDOM - Banks Hoggins O'Shea
- FRANCE - Acam
- GERMANY - Borsch Stengel
- PORTUGAL - Edson Athayde Communicacao
- SPAIN - Augusta BBT
- FINLAND - Kauppamainos Oy
- POLAND - Ad Fabrika
<PAGE>
#1 PRIORITY: GROWTH - ACQUISITIONS
PROGRESS: EXPAND POSITION IN EUROPE
BSMG WORLDWIDE
--------------
- UNITED KINGDOM - GJW
- Lyons Waddell
- Square Mile Holdings
- GERMANY - Management Profile Consulting
- APR Wilkens
- Pajunk & Scheickhardt
...and
- HONG KONG - Scotchbrook Communications
<PAGE>
#1 PRIORITY: GROWTH - ACQUISITIONS
PROGRESS: EXPAND IN FASTER GROWING NON-TRADITIONAL PRACTICES
FCBI
----
- The Hacker Group
- Data Answers*, UK
- Datamidia*, Brazil
- Opus Group*, UK
NEW AMERICA STRATEGIES GROUP
----------------------------
- Don Coleman
- Imada Wong
- Montemayor
MEDIA
-----
- MBS Group*, UK *Outside U.S.
<PAGE>
#1 PRIORITY: GROWTH - ACQUISITIONS
PROGRESS: EXPAND IN FASTER GROWING NON-TRADITIONAL PRACTICES
BOZELL GROUP
------------
- Stein Rogan + Partners
- SixtyFootSpider
- Communications Solutions Division (CSD) of Juntunen Media Group,
Digital solutions
- Howard, Merrell & Partners
MARKETING DRIVE WORLDWIDE
-------------------------
- EMP
- Luxon Carra
- Sierra Communications
<PAGE>
#1 PRIORITY: GROWTH - ACQUISITIONS
SPRINGER & JACOBY
-----------------
- Largest independent advertising group in Germany
- Number one creative agency
<PAGE>
FINANCIAL REVIEW
<PAGE>
SETTING ASIDE THE LOSS OF
DAIMLERCHRYSLER, 2000 HAS BEEN
A VERY GOOD YEAR FOR TRUE NORTH
<PAGE>
REVENUE GROWTH
<PAGE>
REVENUE GROWTH
<TABLE>
<CAPTION>
2000 1999 % INC.
---- ---- ------
<S> <C> <C> <C>
9 MONTH REVENUES 1,087.3* 966.3* 12.5%
Organic Revenue Growth 10.1%
Net Acquisition Growth 4.2%
Currency Impact (1.8)%
</TABLE>
* Note: Excludes Modem Media which was deconsolidated effective 4/1/2000
<PAGE>
Organic Growth Is Our Number One Priority
<TABLE>
<CAPTION>
1998 1999 Q1 Q2 Q3 Q4 2000 Q1 Q2 Q3
<S> <C> <C> <C> <C> <C> <C> <C> <C>
12 11.7
11
10
9 9.2 9.3
8
7
6 6.0 6.6
5
4
3 3.9
2
1 1.3
0 0
</TABLE>
Note: Excludes Modem Media in all periods
<PAGE>
Organic growth has been fueled by:
- Net new business
- Collaboration
<PAGE>
NEW BUSINESS
<PAGE>
NET NEW BUSINESS
WINS HAVE BEEN EXTRAORDINARY
<TABLE>
<CAPTION>
1999* 2000*
----- -----
<S> <C> <C>
1st Q $ 73 $ 263
2nd Q 168 537
3rd Q 220 258
------- -------
Total $ 461 $ 1,058
</TABLE>
* Note: Excludes Modem Media in all periods
<PAGE>
NEW BUSINESS SUCCESS DRIVEN BY
QUALITY WINS BY FCB
- Compaq
- Boeing
- Avaya
- Taco Bell
- Major League Baseball
- Jell-O
<PAGE>
COLLABORATION
<PAGE>
COLLABORATION (CROSS-SELLING) HAS BEEN AN IMPORTANT FACTOR IN OUR GROWTH
THIS YEAR
- TN Collaboration Czar appointed
- Collaboration Director appointed at each business unit
- Collaboration Incentive Program
- YTD efforts have generated $38.0 million in annualized Revenue
<PAGE>
EXPENSE RATIOS
<PAGE>
EXPENSE RATIOS CONTINUE TO IMPROVE DUE TO IMPROVED ORGANIC GROWTH,
RESTRUCTURING ACTIVITIES AND COST CONTROL PROGRAMS.
<TABLE>
<S> <C>
YTD Staff Cost Ratio 60.9%
Imp of 230 Basis Pts
YTD O&G Ratio 27.8%
Imp of 40 Basis Pts
</TABLE>
WE'RE ON TRACK TO REDUCE STAFF COST RATIO TO BELOW 60% IN 2000.
<PAGE>
OPERATING MARGIN
<PAGE>
MARGIN IMPROVEMENT IS A PRIORITY IN 2000
The improvement in organic growth coupled with the expense reductions from our
restructuring activity has resulted in a significant margin improvement.
YTD Operating Margin 11.3%
Imp of 270 Basis Pts.
WE'RE ON TRACK TO MEET OR EXCEED OUR GOAL OF A 12%+ OPERATING MARGIN IN 2000.
<PAGE>
EARNINGS PER SHARE
<PAGE>
YTD EARNINGS PER SHARE ARE UP SIGNIFICANTLY
<TABLE>
<CAPTION>
9 Mos. 9 Mos.
2000 1999* % Inc
------ ------ -----
<S> <C> <C> <C>
Diluted EPS $1.21 $.90 34%
</TABLE>
* Note: Excludes Restructuring charge and other unusual items
<PAGE>
FINANCIAL OUTLOOK
<PAGE>
EXCLUDING THE IMPACT OF DAIMLERCHRYSLER, THE OUTLOOK REMAINS POSITIVE.
- Other than Dot.Com accounts -- no signs of spending cuts by clients.
- Full-year impact of 2000 new business wins in 2001.
- Momentum continues into the 4th quarter
- Goal for 2001 is 9% organic growth, excluding DaimlerChrysler.
<PAGE>
DAIMLERCHRYSLER
<PAGE>
DAIMLERCHRYSLER
- Nov. 3rd announcement by DaimlerChrysler
-- account consolidated with BBDO.
- Decision based on cost savings and size of holding company.
- Disappointing but not life threatening.
- Transition Plan to be resolved with Chrysler.
<PAGE>
FINANCIAL IMPACT OF CHRYSLER LOSS
- Annualized Financial Impact:
($140M) Revenue and ($.50) per share
- 2001 Impact ($.22) vs. consensus estimates of $2.41 ASSUMING:
- Successful Resolution of Transition Issues with Chrysler
- Elimination of a significant portion of Modem losses incurred in 2000.
<PAGE>
REVENUE MIX
<TABLE>
<CAPTION>
2000F
1997 1998 1999 2000F PRO-FORMA
---- ---- ---- ----- ---------
<S> <C> <C> <C> <C> <C>
Traditional 73% 72% 69% 66% 62%
Marketing 27% 28% 31% 34% 38%
Services
</TABLE>
All periods exclude MMPT; 1997 and 1998 exclude FRB pooling of interests
Non traditional includes interactive, direct, healthcare, public relations,
promotions and directory
Chrysler revenue includes in all periods except Pro-forma
<PAGE>
FINANCIAL OBJECTIVES
We're on track to meet or exceed our financial objectives for the full year 2000
- EPS growth of 15+%
- Organic growth > 8%
- Operating margin of 12+%
- Staff Cost Ratio < 60%
- Tax rate in low 40's
- Debt to capital ratio of < 40%
<PAGE>
II. ELEMENTS OF CHANGE
<PAGE>
THE ELEMENTS OF CHANGE SINCE APRIL `99 . . .
- STRUCTURAL
- Realigned assets
- Strategic acquisitions
- CULTURAL
- Created and focused a culture
- Significant opportunities for growth
<PAGE>
REALIGNMENT IMPACT:
STRONGER GLOBAL POSITIONING
FCB: A NEW GLOBAL POWERHOUSE
- #1 agency brand in the U.S., top ten globally
- Over $8 billion in billings
- New profile: 55% U.S.; 45% International
- 200+ offices in 96 countries
FCBI: TOP-TEN GLOBAL DIRECT AND INTERACTIVE AGENCY BRAND
- $800 million in billings
- Well-positioned to take the lead in CRM with its new database
capability, AnalyticI
<PAGE>
REALIGNMENT IMPACT:
STRONGER GLOBAL POSITIONING
FCB HEALTHCARE:
- Unification of healthcare resources for enhanced healthcare marketing
worldwide
- New operation among top ten and includes:
- Xygote Interactive
- ProHealth (medical education unit)
- 250 employees in 8 cities on four continents
<PAGE>
REALIGNMENT IMPACT:
STRONGER GLOBAL POSITIONING
MARKETING DRIVE WORLDWIDE: A SINGLE GLOBAL BRAND OF PREVIOUSLY 14 MARKETING
SERVICES COMPANIES
- $500 million in equivalent billings
- International marketing services capabilities
- 23 offices in 16 cities in 9 countries
<PAGE>
STRATEGIC ACQUISITION IMPACT:
Stronger Global Positioning/High-Growth Sector Focus
BSMG WORLDWIDE
- Revenue growth dramatic, on average quadrupling in size every five
years--expected to reach $180 million in 2000
- Geographic reach greatly expanded; one of the largest networks in
Europe
- Now ranked #7 in the U.S.; #8 Worldwide
- Leader in investor relations practice; largest food and beverage
practice; rapidly growing technology and healthcare practices
<PAGE>
REALIGNMENT IMPACT:
HIGH-GROWTH SECTOR FOCUS
TN DIRECTORY SERVICES
- Ranks second in National YP specialist agencies
- Wahlstrom winner of more industry awards than any other yellow pages
agency
- Growing at 3 times industry rate because of adding an internet
directory consultancy and execution capability
<PAGE>
REALIGNMENT/STRATEGIC ACQUISITION
IMPACT: High-Growth Sector Focus
NEW AMERICA STRATEGIES GROUP
- Ethnic populations are growing at seven times the rate of the general
market--expected to account for 50% of Americans by 2020
- NASG largest multicultural marketer representing all three major
ethnic populations
- Acquisition of Don Coleman Advertising and Imada Wong
- Major new business wins in 2000, including Salomon Smith Barney,
American Airlines, Exelon, BET Holdings
<PAGE>
III. SIGNS OF VITALITY
<PAGE>
SIGNS OF VITALITY
FCB WORLDWIDE
-------------
[COMPAQ LOGO]
[BOEING LOGO]
[AT&T LOGO]
[AVAYA COMMUNICATION LOGO]
[MONSANTO LOGO]
[ADM LOGO]
[CMGI LOGO]
[BRISTOL-MYERS SQUIBB COMPANY LOGO]
[TACO BELL LOGO]
[KRAFT LOGO]
<PAGE>
SIGNS OF VITALITY
BOZELL GROUP
------------
- Datek increased revenue 66% [DATEK ONLINE LOGO]
- Bristol-Myers Squibb revenue up 30% [BRISTOL-MYERS SQUIBB COMPANY LOGO]
- Verizon Wireless revenue +50% [VERIZON LOGO]
- Fujitsu selected Bozell Kamstra as lead agency for global brand
communications [FUJITSU LOGO]
<PAGE>
SIGNS OF VITALITY
BSMG WORLDWIDE
--------------
[MICROSOFT LOGO]
[BRISTOL-MYERS SQUIBB COMPANY LOGO]
[EXELON-sm- LOGO]
[ADM LOGO]
[SC JOHNSON WAX LOGO]
MARKETING DRIVE WORLDWIDE
-------------------------
[GILLETTE LOGO]
[MERCEDES-BENZ LOGO]
[EXCEDRIN LOGO]
<PAGE>
IV. CURRENT PROJECTS
<PAGE>
CURRENT PROJECTS
MODEM MEDIA
- A strong company with great clients
- A financial asset
- Options
- Dividend
- Strategic merger
- Buy back
<PAGE>
CURRENT PROJECTS
DAIMLERCHRYSLER
- Major loss, but if it had to come, this is the best time in FCB'S
history
- FCB is continuing their aggressive momentum
- Headline global wins
- More than $1 billion in net new business this year
<PAGE>
V. STRENGTHS GOING FORWARD
<PAGE>
STRENGTHS GOING FORWARD
- A $1.5 billion marketing communications holding company ranked #8
worldwide
- Clients
- TN companies serve more than 30 major global clients, half of
whom have long-standing relationships (15+ years)
<PAGE>
KEY CLIENTS
<TABLE>
<S> <C> <C>
[APPLEBEE'S LOGO] [KRAFT LOGO] [QUAKER-Registered Trademark- LOGO]
[AT&T LOGO] [AMAZON.COM LOGO] [SC JOHNSON WAX LOGO]
[BDF BEIERSDORF LOGO] [DOCKERS LOGO] [SUNKIST LOGO]
[BOEING LOGO] [MERCK LOGO] [TACO BELL LOGO]
[BRISTOL-MYERS SQUIBB COMPANY LOGO] [NABISCO LOGO] [TROPICANA LOGO]
[CHASE LOGO] [NIKE LOGO] [UNITED STATES POSTAL SERVICE LOGO]
[COORS LOGO] [GATORADE LOGO] [WEBTV NETWORK LOGO]
</TABLE>
<PAGE>
KEY CLIENTS
<TABLE>
<S> <C> <C>
[BANK OF AMERICA LOGO] [AMERICAN AIRLINES LOGO] [MTV LOGO]
[AVAYA COMMUNICATION LOGO] [COMPAQ LOGO] [GLAXO PHARMACEUTICALS LOGO]
[GOT MILK?-Registered Trademark- LOGO] [HILTON-TM- LOGO] [KAWASAKI-Registered Trademark- LOGO]
[VERIZON LOGO] [NORTEL NETWORKS LOGO] [THE NEW YORK TIMES LOGO]
[GTE LOGO] [DATEK ONLINE LOGO] [MUTUAL OF OMAHA COMPANIES LOGO]
</TABLE>
<PAGE>
TOP 20 CLIENTS (sorted alphabetically)
<TABLE>
<CAPTION>
CLIENT CLIENT SINCE
------ ------------
<S> <C>
American Airlines 1970
AT&T 1988
Bank of America 1998
Beiersdorf 1978
Bristol-Myers 1984
Chase Manhattan 1998
Compaq 2000
Coors 1979
Datek 1999
Glaxo 1988
GTE/Bell Atlantic 1983
Kraft/General Foods 1954
Merck 1974
Nortel 1997
Quaker Oats - Gatorade 1973
RJR Nabisco - Planters 1980
SC Johnson 1963
Subaru 1993
Taco Bell 1997
US Postal Service 1995
</TABLE>
REVENUE CONCENTRATION*
----------------------
<TABLE>
<S> <C>
Top Account % Total Revenue = 4.9%
Top 5 Accounts % Total Revenue = 13.7%
Top 10 Accounts % Total Revenue = 21.1%
Top 20 Accounts % Total Revenue = 30.9%
</TABLE>
* Top client revenue based on 2000 forecasted revenue. Chrysler has been removed
and Compaq has been adjusted to approximate a full year fee. Total revenue has
been adjusted as well.
<PAGE>
STRENGTHS GOING FORWARD
- BRANDS
- GLOBAL
- FCB Worldwide
- Ranked #1 in billings in the U.S.; top ten globally
- BSMG Worldwide
- Firmly in the top ten globally; headed for the top five
- Marketing Drive Worldwide
- Positioned to meet emerging client need
<PAGE>
STRENGTHS GOING FORWARD
- U.S. -- WORLD'S LARGEST MARKET
- Bozell Group
- Top 25 U.S. consolidated agency brand; $1.6 billion
in billings
- Bozell Kamstra - one of the largest business branding
agencies
- AFG - Full-service, growing brand
- BGW - Expertise in Retail, Kids, Entertainment
- Temerlin McClain
- #1 Southwest-based agency; $600 million in billings
- Specialists in handling service-driven businesses
- New America Strategies Group
- Tierney Communications
- Based in Philadelphia, recognized by WSJ, NYT, INSIDE
PR as "regional powerhouse"
- Recent win of $15 million Exelon energy account
<PAGE>
STRENGTHS GOING FORWARD
- COLLABORATION
- AN OPPORTUNITY NOT YET FULLY REALIZED
- FCB Worldwide
- Works with 20% of the Top 200 marketers
- Non-Traditional Business Units
- Work with 40% of the Top 200 marketers
- 200 clients use 2 or more TN companies
- 25 clients use 4 or more TN companies
<PAGE>
R/GA LEGACY
- A creatively-focused interactive services company delivering e-business
solutions across all interactive platforms
- An unparalleled body of visual design across film, television, print,
CD-ROM, kiosks, and the Web
- One of the world's Most Awarded New Media Creative Agencies
- Signature Accounts
- IBM--Narrowband (one of three agencies)
- Ericsson--Pervasive (opening in Stockholm)
- Reuters--Broadband (opening in London)
<PAGE>
STRENGTHS GOING FORWARD
- TN MEDIA
- Unique Media Model
- Philosophy: media as a function should be unbundled with a
separate P&L
- BUT, professionally integrated to the agency's strategic
planning process
- Offering clients a flexible structure to meet their needs
(because there is no single way)
- New management; new name soon
<PAGE>
THANK YOU
