Issue of Equity

Parallel Media Group plc                            

                                Issue of Equity                                

Following the exercise of fourth of the four options under the agreement
between Parallel Media Group plc (the "Company") and Pacific Continental
Securities (UK) Limited described in the announcement made on 3 October 2006,
the Company has today allotted to Pacific Continental Securities (UK) Limited
25,641,025 new ordinary shares of 0.5p each in the Company to raise £250,000
for the Company.

Application is being made for all such new ordinary shares to be admitted to
trading on AIM and it is anticipated that such admission will become effective
and that dealings in such new ordinary shares will start on 2 February 2007.
Following this allotment, the Company will have 322,070,294 ordinary shares in
issue.