Contract Renewal

Parallel Media Group PLC
01 October 2004


                            Parallel Media Group plc


                                Contract Renewal


Parallel Media Group plc's 82.5% subsidiary PGAA Media Limited ('PGAA')
announces American Express' renewal on 24 September 2004 of the Tour Title
Sponsorship of the Tour de Las Americas ('TLA'), the professional golf tour for
Latin America.

PGAA has a contract for the commercial and television and rights of the TLA
which expires in August 2050.


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