Annual Report and Accounts

19 June 2007

               Parallel Media Group Plc ('PMG' or the 'Company')               

               POSTING OF ANNUAL REPORT & ACCOUNTS, AGM AND EGM                

Parallel Media Group plc announces that its Annual Report and Accounts for the
year ended 31 December 2006 has been posted to shareholders. The document is
accompanied by notice of the Annual General Meeting of the Company to be held
on 11 July 2007 and of an Extraordinary General Meeting to be held on the same
day to consider changes to the Company's Articles of Association which would
enable the Company to use electronic means of communication with those
shareholders who so wished and renewal of normal authorities and powers to
enable the Company to issue new shares.

The Annual Report and Accounts, the document describing the change to the
Articles and the notices convening the meetings are available on the Company
website, www.parallelmediagroup.com and can be obtained from the Company's
registered office, 3-12 Harbour Yard, Chelsea Harbour, London SW10 0XD.

For further information:

Frances Quigley / Richard Graham Jos Simson/Leesa Peters

Parallel Media Group Conduit PR Ltd

[phone] [phone]

[e-mail] [phone]

[e-mail]