SAILING AWAY TRAcK RECORD

•1997: Bates de-merger with Saatchi takes place at end of year

•1998: CCG CEO Michael Bungey and North American CEO Bill Whitehead bundle Bates’ below-the-line functions under the 141 banner

•2000: CCG acquires Lighthouse in July, the height of the market, for $421 million

•2000: Whitehead named president and COO of Bates Worldwide in September

•2001: CCG revenues decline 8 percent for the year; net debt rises to nearly $250 million

•2001: CCG writes down Lighthouse acquisition

•2001: 141 becomes Allied Domecq’s global marketing agency in October

•2002: David Hearn joins as Bates Worldwide CEO; George Patter son Bates CEO heir apparent Hamish McLennan resigns in April

•2002: Ian Smith becomes regional pres ident of Bates Asia Pacific; Toby Hoare appointed regional president of Bates Europe in April

•2002: Bates loses $160 million Hyundai media account in January, creative in May

•2002: Bill Whitehead becomes regional president of the Americas in April, resigns in May