29989--2/27/2009--OMNICOM_GROUP_INC

related topics
{condition, economic, financial}
{regulation, government, change}
{operation, international, foreign}
{debt, indebtedness, cash}
{personnel, key, retain}
{capital, credit, financial}
{customer, product, revenue}
{acquisition, growth, future}
The global economic recession could continue to adversely impact our business and results of operations and financial condition. The global credit crisis could adversely impact our financial condition and results of operations. In a period of severe economic downturn, the risk of a material loss related to purchases of media on behalf of our clients could significantly increase. A reduction in client spending and a slowdown in client payments could materially adversely affect our working capital. Companies periodically review and change their advertising, marketing and corporate communications services business models and relationships. If we are unable to remain competitive or retain key clients, our business and financial results may be materially adversely affected. We received approximately 47% of our revenue from our 100 largest clients in 2008, and the loss of several of these clients could adversely impact our prospects, business and results of operations and financial condition. The success of our acquiring and retaining clients depends on our ability to avoid and manage conflicts of interest arising out of other client relationships and retention of key personnel. Government regulations and consumer advocates may limit the scope of the content of our services, which could affect our ability to meet our clients needs, which could have a material adverse effect on our business. We are a global service business and face certain risks of doing business abroad, including political instability and exchange controls, which could have a material adverse effect on our results of operations. We are exposed to risks from operating in developing countries. Holders of our convertible notes have the right to cause us to repurchase up to 1.2 billion, in whole or in part, at specified dates in the future. Downgrades of our debt credit ratings could adversely affect us. We may be unsuccessful in evaluating material risks involved in completed and future acquisitions.

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