SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


	----------------------------------

	FORM 8-K

	----------------------------------


	CURRENT REPORT
	PURSUANT TO SECTION 13 OR 15 (d) OF THE
	SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported):December 16, 
1998.

           The Interpublic Group of Companies, Inc.              
(Exact Name of Registrant as Specified in Charter)
                   

   Delaware			1-6686		   13-1024020
(State or other	  (Commission		  (IRS Employer
Jurisdiction	File Number)	Identification Number)
 of incorporation)


  1271 Avenue of the Americas, New York, New York     10020      
     (Address of Principal Executive Offices)    	   (Zip Code)


Registrant's telephone number, including area code: 212-399-8000


_________________________________________________________________
 (Former Name or Former Address, if Changed Since Last Report)





<PAGE

Item 9.	Sales of Equity Securities Pursuant to Regulation S.

On December 16, 1998, The Interpublic Group of Companies, 
Inc. ("Interpublic") sold 51,092 shares of its common stock, par 
value $.10 (the "Shares"), to two corporations as partial 
payment, valued at 5,250,000 Canadian Dollars out of a total 
initial purchase price of 10,500,000 Canadian Dollars, for 100% 
of the issued and outstanding shares of capital stock of The 
Gingko Group Ltd. and Hawgtown Creative Ltd., two Canadian 
corporations.  The remainder of the initial purchase price was 
paid in cash.

No underwriter or placement agent was used in connection 
with the sale of the Shares.

The transaction was effected in an "offshore transaction" 
and in accordance with the "offering restrictions" and "no 
directed selling efforts" requirements of Rule 903(c)(2) of 
Regulation S under the Securities Act of 1933.


   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act 
of 1934, the registrant has duly caused this report to be signed 
on its behalf by the undersigned hereunto duly authorized.

THE INTERPUBLIC GROUP OF 
COMPANIES, INC.


Date: December 18, 1998				By: ARTHUR M. MASON
    ARTHUR M. MASON
    ASSISTANT SECRETARY
<PAGE>
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

	----------------------------------

	FORM 8-K

	----------------------------------

	CURRENT REPORT
	PURSUANT TO SECTION 13 OR 15 (d) OF THE
	SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):December 16, 
1998.

           The Interpublic Group of Companies, Inc.              
(Exact Name of Registrant as Specified in Charter)
                   

   Delaware			1-6686		   13-1024020
(State or other	  (Commission		  (IRS Employer
Jurisdiction	File Number)	Identification Number)
 of incorporation)

  1271 Avenue of the Americas, New York, New York     10020      
     (Address of Principal Executive Offices)    	   (Zip Code)

Registrant's telephone number, including area code: 212-399-8000

_________________________________________________________________
 (Former Name or Former Address, if Changed Since Last Report)