131 entries make the cut.
There are a few category changes for the awards, which will be presented in April.
Pepsi swapped places with Vodafone which dropped to fourth in the ranking.
McCann wins Grand Effie, plus agency and network of the year honours, on strength of a campaign for the University of Melbourne.
Two rounds of judging result in list of 157 finalists.
MullenLowe Lintas, Ogilvy India and Colenso BBDO land in the top five most effective agencies.
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