Issue of Shares

17 August 2010

                           Parallel Media Group Plc                            

                            ("PMG" or the "Group")                             

                                Issue of Shares                                

In relation to the forthcoming General Meeting of the Group on 31 August 2010
and as described in related shareholder circular, Martin Doherty, the Company
Secretary, has agreed to subscribe for 196 Ordinary Shares to increase the
number of Ordinary Shares in issue to 1,066,023,860.

Application has been made for the admission of these shares to the AIM market
of the London Stock Exchange and is expected to become effective on 23 August
2010.

For more information please contact:

Stewart Mison / Martin Doherty Parallel Media Group Plc   [phone]
                                                                              
Antony Legge / Luke Cairns /   Astaire Securities Plc     [phone]
Toby Gibbs                                                                    
                                                                              
Alex Giacchetti                Bishopsgate                [phone]
                               Communications                                 
                                                                              
www.parallelmediagroup.com