Advisers Change of Name

PARALLEL MEDIA GROUP PLC                            

                            ADVISER CHANGE OF NAME                             

Parallel Media Group plc announces that its nominated adviser has changed its
name from City Financial Associates Limited to Dowgate Capital Advisers Limited
with effect from 4 April 2008.

For further information please contact:

Parallel Media Group plc

David Ciclitira

Tel: [phone]

Nominated Adviser

Dowgate Capital Advisers Limited

Tony Rawlinson

Tel: [phone]