Contacts:
Kathryn Woods, True North 212-727-5582
Ilke Hein, Springer & Jacoby

True North and Springer & Jacoby Announce Agreement

CHICAGO and HAMBURG September 11 -- True North Communications Inc. (NYSE: TNO), a leading global advertising and communications holding company, has made a strategic investment in Hamburg-based Springer & Jacoby, Germany's largest independent advertising group and the number one creative agency in Germany.

While terms were not disclosed, the transaction creates a new holding company in which True North takes an initial 35.5% stake. This agreement enables Springer & Jacoby to move forward with True North's support as an independent company in establishing its presence in key international markets; it provides True North with a highly complementary partner.

David Bell, Chairman and CEO of True North, who joins agency founders Reinhardt Springer and Konstantin Jacoby on the new Springer & Jacoby board of directors, said, "We have already developed an excellent relationship with each other and are pleased to announce our agreement. This is one of the rare agencies with a definable, real and transportable culture that will be preserved as they expand internationally." Added Bell, "They will be a strong resource and collaborative partner to our agencies across True North. We have no conflicts and, importantly, we each have DaimlerChrysler as our largest client and are committed to serving their global needs."

André Kemper, Managing Director, Creative Head, and Spokesman for Springer & Jacoby management said, "The unique quality and independence of Springer & Jacoby is retained with this agreement. True North and Springer & Jacoby complement each other perfectly in their interests and goals: True North is able to offer another agency network - one that will be a strong partner to True North companies. And Springer & Jacoby has found a partner that makes international growth possible without compromising our own agency culture. In addition, no competitive conflicts arise with True North."

Bell commented, "With its remarkable creative and management strength as well as its distinctive culture, we recognized that it was crucial for Springer & Jacoby to be able to act independently in order to successfully break into new markets and meet the needs and demands of its clients in the long term."

"A criterion for a partnership was that Springer & Jacoby preserve its independence. This was a particular demand from our clients and, above all, from DaimlerChrysler," stated agency founder Konstantin Jacoby. The majority of votes remain in the hands of the two founders, the management and shareholding employees. True North has an option, starting in 2003, to increase its shareholding to 51%; however, Springer & Jacoby would still retain two of the three board seats."

Dr. Michael Trautmann, Managing Director, responsible for international clients, added, "As one of the world's premier creative agencies, we want the Springer & Jacoby brand to go with its clients to all the important markets in the world." The first international office was opened by the Hamburg group last year in London. Offices are to open soon in Barcelona and Italy, and in other countries in 2001.

Concluded Springer & Jacoby's Wulf-Peter Kemper, Managing Director of Agency Management, "The agency has decided to compete on a quality level with the best in the world; size is not an end in itself for us. Our goal was always to become Germany's no.1 independent agency - not the biggest, but the best agency in the country." He added, "This goal was achieved in Germany several years ago. Now Springer & Jacoby wants to rank amongst the world's leading agencies."

Springer & Jacoby, founded in 1979 and employing 505, had billings of over $400 million last year. Springer & Jacoby work for such clients as Deutsche Telekom, Mercedes Benz, Deutsche Bank 24, Panasonic, TUI and others.

True North is one of the world's leading advertising and communications holding companies. True North has three major global brands: FCB Worldwide, advertising;
BSMG Worldwide, public relations; and Marketing Drive Worldwide, marketing services. The company also has a strong roster of other advertising brands, including Bozell Group, New America Strategies Group including Don Coleman Associates, Temerlin McClain, Tierney & Partners, and TN Media, among them. Its digital portfolio includes R/GA Interactive and SixtyFootSpider. Based in Chicago, True North had 1999 revenues of approximately $1.4 billion and annual billings of more than $14 billion.

Cautionary Statement:

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of Section 21E(i)(1) of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause True North's actual results to be materially different from any future results expressed or implied by these statements. Such factors include the following: general economic and business conditions, the ability of True North to continue to improve its cost management, the ability to maintain current and attract new clients, the ability of True North to integrate acquisitions or complete future acquisitions, dependence upon and availability of qualified personnel and changes in government regulation. In light of these and other uncertainties, the forward-looking statements included in this document should not be regarded as a representation by True North that True North's plans and objectives will be achieved.