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- Young & Rubicam is to acquire from The Leap Group, the business of One World Communications, which provides multi-cultural advertising services.

While financial terms of the transaction were not disclosed, the closing is expected to take place late in the third quarter of 1998.

Ed Vick, Chief Operating Officer of Young & Rubicam, said: "Our integrated strategy demands that we have not only the best agencies in every major communications discipline, but also within each discipline. In consumer and business-to-business advertising, it's clear that targeted, creative and effective multi-cultural communications are becoming increasingly vital to our clients.

He added: "That's why the addition of the business of One World Communications, including Kang & Lee Advertising and additional multi-cultural accounts, makes so much sense. This move also further establishes us as a leader in the multi-cultural arena, where we have long operated Bravo, the leading Hispanic advertising agency, and Mosaica, which has expertise in Asian-American and multi-ethnic communications."