New Title Sponsor

Parallel Media Group Plc ('PMG' or the 'Company')               

Parallel Media Group announces OMEGA as long-term Title Sponsor of the Mission 
                         Hills World Cup for 12 years                          

AIM quoted Parallel Media Group plc (Ticker: PAA), the exclusive worldwide
commercial representative for the Mission Hills Golf Club, China, is pleased to
announce that a 12 year agreement has been signed for world leading brand OMEGA
to become the title sponsor of the Mission Hills World Cup of Golf.

The agreement will see the Chinese venue, the world's biggest golf complex,
host the OMEGA Mission Hills World Cup to the year 2018, with an option to host
it for a further 12 years until 2030.

The OMEGA Mission Hills World Cup is the only world team stroke play event and
carries a prize purse of US$5 million rising to $7m in 2011.

Commenting today on the agreement, David Ciclitira, Chairman of PMG, stated "We
are extremely proud to have worked together with Mission Hills in ensuring that
the World Cup of Golf becomes China's `major', keeping the spotlight of world
sport on China well beyond the 2008 Beijing Olympics, and further consolidating
its position as the emerging power in world golf. From the perspective of PMG,
this proves the Company's ability to attract high profile sponsors to our
events and is the first of a series of contracts we hope to announce in 2007."

The 2007 OMEGA Mission Hills World Cup will be staged from November 22-25, 2007
on the 7,400 yard Olazábal Course at Mission Hills Golf Club, Shenzhen, China.

For further information:

Helen Mitchell Jos Simson / Leesa Peters

Parallel Media Group Conduit PR Ltd

[phone] [phone]

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