Golf Tournament Sponsor Deal

3 July 2007

                           Parallel Media Group Plc                            

                                   ('PMG' )                                    

 Parallel Media Group signs global whisky brand Ballantine's as Title Sponsor  
                for new European Tour-sanctioned event in Korea                

  * Three year agreement with Ballantine's to sponsor the Ballantine's
    Championship, a new tournament on the European Tour's International
    Schedule taking place in Korea
   
  * Ballantine's Championship commences 13 March 2008 and carries a prize money
    purse of €2 million
   
AIM quoted Parallel Media Group plc (Ticker: PAA), the sports marketing, media
and management company, today announces a new tournament on the European Tour
International Schedule and signs Ballantine's - the scotch whisky business of
Pernod Ricard - to become Title Sponsor of the "Ballantine's Championship" for
an initial three year period commencing in 2008. As the promoter, PMG will
receive a fee against tournament staging costs and have the right to source
secondary sponsors for the event.

The agreement will see Ballantine's become the Title Sponsor of the richest
professional golf tournament to be staged in Korea. The venue of the tournament
is the Pinx Club, located on the popular resort island of Jeju, which attracts
4 million visitors annually.

The European Tour-sanctioned event will be staged between 13 and 16 March 2008
and will carry a prize money purse of €2 million. The event will be televised
by SBS in Korea and distributed internationally by European Tour Productions.

PMG has had a 20 year working relationship with the European Tour and was
responsible for launching the first professional golf tournament in China in
1995, the World Cup of Golf. PMG current European Tour-promoted events include
the UBS Hong Kong Open, the TCL Classic, the Kazakhstan Open, and the Omega
Mission Hills World Cup of Golf (of which PMG is the Commercial Partner with
Mission Hills).

Commenting today on the agreement, David Ciclitira, Chairman of PMG, stated
"This agreement with Ballantine's and the European Tour is a major development
for Korean golf and for our activities in the region. It further establishes
PMG as one of the top specialist companies in Asian sport and will provide
significant further revenue streams for the Company in the year ending 31
December 2008 and beyond"

Christian Porta, Chairman and CEO of Chivas Brothers which owns Ballantine's,
said: "We are delighted to have signed this agreement with Parallel Media
Group. The European Tour brings a global stage to this tournament, for
Ballantine's and for Korean golf. It is our privilege to help bring what will
be Asia's 3rd biggest golf tournament to Korea which is already world famous
for its golfers and its love of golf."

George O'Grady, Executive Director of The European Tour said, "We are delighted
to welcome Ballantine's into our family of global sponsors and congratulate
them, in addition to The Korea PGA and Parallel Media Group, for their
foresight, support and vision."

For further information:

Frances Quigley / Martin Capstick Jos Simson/Leesa Peters

Parallel Media Group Conduit PR Ltd

[phone] [phone]

[e-mail] [phone]

[e-mail] [e-mail]

Nominated Advisor

City Financial Associates

Ross Andrews, Director

[phone]

[e-mail]

ADDITIONAL INFORMATION

Parallel Media Group plc is a leading sports marketing, media and event
management company

Founded in 1987 by its Chairman David Ciclitira and listed on the London Stock
Exchange's AIM since 2001. Parallel Media Group specialises in executive
sports, focusing on golf. Parallel Media Group aims to provide its clients with
world class professional service, combining local market knowledge with
international business expertise to deliver a new vision for sport.

The company was at the forefront of introducing the PGA European Tour into
emerging markets, establishing the World Cup of Golf in China in 1995.

PMG current European Tour-promoted events include the UBS Hong Kong Open, the
TCL Classic, the Kazakhstan Open, and the Omega Mission Hills World Cup of Golf
(of which PMG is the Commercial Partner with Mission Hills).

PMG acts as commercial advisor to the Ladies European Tour, the Tour de las
Americas, and is worldwide strategic golf consultant to Omega.