TO BUSINESS EDITOR:

NEW YORK, Aug. 14 /PRNewswire-FirstCall/ -- Grey Global Group Inc. (Nasdaq: GREY) has declared its regular quarterly dividend of $1.00 per share of Common Stock and per share of Limited Duration "Class B" Common Stock. The quarterly dividend is payable September 16, 2003 to stockholders of record as of September 2, 2003.

SOURCE  Grey Global Group Inc.