Statement re Suspension

28 June 2012

                           Parallel Media Group PLC                            

                           ("PMG" or the "Company")                            

                   Annual report and accounts and Suspension                   

The Board of PMG announces that the Company will not be in a position to
publish its annual audited accounts for the year ended 31 December 2011 by 30
June 2012, as required by the AIM Rules. The delay reflects short term
transitional issues following the outsourcing of the company's finance function
to an external accounting firm. This should materially expedite the preparation
of financial information in respect of the current and future accounting
periods.

In accordance with the AIM Rules, trading in the Company's ordinary shares on
AIM will therefore be suspended from 12:45pm today, pending publication of the
annual audited accounts, which the Board believes it will be in a position to
achieve by 6 July.

 
-End-
 
 

For further information, please contact:

Parallel Media Group plc                               020 7225 2000
David Ciclitira

Northland Capital Partners Limited                     020 7796 8800
Luke Cairns, Edward Hutton

Novus Capital Markets Limited                          020 7107 1881
Nicholas Lee

Bishopsgate Communications                             020 7562 3350
Nick Rome, Sam Allen
[e-mail]