Director/PDMR Shareholding

13 December 2010

                             Parallel Media Group                              

                           ("PMG" or "the Company")                            

                          Director/PDMR shareholding                           

The Company was informed on 10 December 2010 that Ranjit Murugason, a director
of the Company, had acquired 12,500 shares in the Company at 37.5 per share on
6 December 2010.

Following this acquisition, Mr Murugason is interested in 762,500 shares,
representing 4.94 % of the issued share capital of the Company.

 

For further information, please contact:

Stewart Mison, Martin  Doherty      Parallel Media Group Plc          020 7225 2000 
                                                                                                                                           
Luke Cairns, Edward Hutton          Northland Capital Partners Ltd    020 7492 4750 
                                                                           
Charles Goodfellow,                 Novus Capital Markets Limited     020 7107 1850 
Paul Dudley                                                                
                                                                           
Alex Giacchetti,                    Bishopsgate Communications Ltd    020 7562 3350 
Laura Stevens