Title Sponsor for Hong Kong Open

12 May 2010

                           Parallel Media Group Plc                            

                           ("PMG" or the "Company")                            

                       Title Sponsor for Hong Kong Open                        

The Company is pleased to announce that UBS has agreed to continue as the title
sponsor for the Hong Kong Open for a further two years. It has previously been
announced that 2009 would be the last year with UBS as title sponsor, however a
new sponsorship agreement has now been agreed that will see UBS remain as title
sponsor for 2010 and 2011.

The announcement of UBS as title sponsor for the Hong Kong Open should also
enable PMG to complete further sponsorship agreements for the event, many of
which were on hold pending the confirmation of the title sponsor.

For more information please contact:

Martin Doherty, Finance Director       [phone]                
                                                                           
Parallel Media Group Plc                                                   
                                                                           
Antony Legge / Stuart Lane             [phone]                
                                                                           
Astaire Securities Plc                                                     
                                                                           
www.parallelmediagroup.com