New Agreement

PARALLEL MEDIA GROUP PLC                            

 Parallel Media Group signs agreement with Oriental City Group to become Media 
  Co-Sponsor at the TCL Classic and Partner Sponsor to the UBS Hong Kong Open  

Parallel Media Group plc ("PMG"), the sports marketing, media and management
company, today announces that it has signed an agreement with Oriental City
Group (OCG), the Hong Kong based financial services group specialising in
Lifestyle Credit Cards which recently listed on the London PLUS market, to
become Media Co-Sponsor at the 2007 TCL Classic golf tournament, to be staged
at Hainan Island from 15-18 March.

PMG have also signed an agreement for OCG to become Partner Sponsor to the UBS
Hong Kong Open golf tournament in November 2007.

In addition PMG and OCG have signed an agreement to jointly promote the `Golf
Card', an affinity credit card, which offers a variety of lifestyle benefits to
new cardholders. The agreement will run for an initial period of five years.

PMG will work with OCG, which already possesses a golfer's database in Asia, to
develop new markets for the `Golf Card' in using the extensive array of
contacts developed in the golf world during PMG's 10-year existence as a global
specialist in executive sports.

David Ciclitira, PMG Executive Chairman, said "This is PMG's second significant
transaction in 2007 and enhances PMG's position as a service provider to luxury
brands in emerging markets. We are delighted that the agreement between our
companies encompasses OCG's sponsorship of two high-level golf tournaments in
Hong Kong and China and we look forward to a long and rewarding relationship
with OCG, which will successfully build on the synergy that exists between our
two companies".

Helen Mitchell / Richard Graham Jos Simson / Leesa Peters

Parallel Media Group Conduit PR Ltd

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