Carat North America announced that its parent company, Aegis Group plc, is restructuring its worldwide media operations with the creation of Aegis Media. Aegis Media will support all of Aegis' media
brands, including Carat. Aegis Media will also support a major new independent media services network, which will be called Vizeum, which will launch officially in Europe on June 16, 2003. The launch
of Vizeum in North America is expected to occur in early 2004. Doug Flynn, Chief Executive Officer, Aegis Group plc, will assume the additional responsibilities of Chairman and Chief Executive Officer
of Aegis Media, which will be headquartered in London. Eryck Rebbouh and Bruno Kemoun will serve as joint CEOs of Aegis Media Europe and, as Vizeum rolls out globally, David Verklin, currently Carat
North America CEO, will also serve as regional CEO of Aegis Media for North and Latin America, and David Liu will serve as regional CEO of Aegis Media for the Asia-Pacific territories.