Issue of Equity

Parallel Media Group plc (PMG); (AIM ticker PAA); the sports marketing, media
and management company, today announces that has raised £100,000 (before
expenses) by way of a placing of 10,000,000 new ordinary shares at 1p to
investors, conditional only upon admission to trading on AIM.

Application has been made to the London Stock Exchange for the 10,000,000 new
Ordinary Shares to be admitted to trading on AIM and dealings are expected to
commence on 5 December 2007. The new ordinary shares will rank pari passu with
the existing ordinary shares in issue.

Subsequent to the shares under the placing being allotted, the issued share
capital of the Company will be 413,037,701 Ordinary Shares. In addition the
Company has 23,706,202 Ordinary Shares under warrants, 17,456,000 Ordinary
Shares under option and 661,727,977 Ordinary Shares would be issued on full
conversion of the Company's convertible instruments.

For more information:

Parallel Media Group plc

Martin Doherty (Chief Financial Officer)

Tel: [phone]

Nominated Adviser

City Financial Associates Limited

Ross Andrews

Tel: [phone]