Statement re Suspension

Parallel Media Group plc Statement re temporary suspension Parallel Media Group plc ("PMG" or the "Company") has today requested the London Stock Exchange to suspend the ordinary shares of 0.5p each in the capital of the Company from trading on AIM pending publication of the Company's report and accounts for the year ended 31 December 2005. Current trading and finalisation of accounts The Company is in the process of finalising the audited accounts for the year, which have been delayed by the late availability of the audited accounts of its associated company, Parallel Media Asia (2003) Limited ("PMA"). The Company's accounts, which are in the course of being audited, are expected to show a much reduced loss from trading for the year to 31 December 2005 compared with the previous year's loss before taxation of £2.7 million. The directors are pleased to report that trading in the current year has improved in the first half of the current year and that they are encouraged by prospects for the second half of the year. The directors expect that the Company's audited accounts will be released during July.
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