JCDecaux Strengthens its Leadership in Portugal

JCDecaux has acquired the majority holding in the Red Group companies. The Red Group, created in 1965, is leader in Portugal for large-format billboards (8 x 3) with 3,700 faces in 233 towns. This agreement enables the JCDecaux Group, which is already a world leader in street furniture and airport advertising, to strengthen its leadership in Portugal in three additional sectors: street furniture, large-format billboards and airports. In January, JCDecaux won the renewed advertising concession for the 7 Portuguese airports. It is estimated that, in 2001, the turnover for the new group will be 58 million euros (380 million francs), with approximately 390 employees. For Jean-Charles Decaux, Co-Chief Executive Officer of the JCDecaux Group, in Portugal "We have been established in Portugal for more than 28 years and have always invested in this country. Through this acquisition, we will be able to reinforce our position on the Iberian Peninsula and increase our competitiveness on a rapidly expanding market, where outdoor advertising represents 8% of all advertising expenditure. Furthermore, the Red Group is a natural addition for us and will enable our Group to have an even higher profile in the street, in shopping centres and in airports with a total of 20,000 faces.