Directorate Change etc.

Parallel Media Group PLC
12 June 2003


Date:                      12 June 2003
On behalf of:              Parallel Media Group plc
                           For Immediate Release




Board Changes and
Announcement of Date of Results

The Board of Parallel Media Group Plc ('PMG') announces that Leonard Fine and
Ron Littleboy have today agreed to stand down from the Board as Non-Executive
Directors but both will continue to work with the Group.  The changes, which are
with immediate effect, are being implemented to reflect the refocusing of the
business following the disposal of World Sport Group Limited ('WSGL') in January
of this year and to streamline the decision making process.

The Board also announces that Graham Axford, currently a Non-Executive Director
of the Company, has today been appointed as Deputy Chairman.  The aftermath of
the demerger of WSGL has highlighted a number of areas which require a speedy
resolution in order to eliminate any impediments in implementing future
strategy. Graham Axford has been given primary responsibility for resolving such
issues.  It is the Board's intention to appoint a new Non-Executive Chairman in
the near future to enable David Ciclitira, current Chairman and CEO, to focus on
the day-to-day management of the Company.  The PMG Board currently comprises
three Executive Directors and one Non-Executive Director.

The Board wishes to thank Messrs Fine and Littleboy for their contribution and
support whilst Directors of the Company and looks forward to continuing to work
with them in their new roles.  Mr Fine, who is South African and based in
Johannesburg, will join the Board of the Company's South African subsidiary,
currently known as World Sport Group South Africa, based in Cape Town; Mr
Littleboy will retain links with the Company and he will continue to receive a
commission in respect of American Express' current agreement to sponsor the Tour
de las Americas.

In January this year, the Company's accounting period was extended from 31
December 2002 to 22 January 2003 in order to incorporate the impact of the
disposal of WSGL and the placing.  It has therefore been agreed with the AIM
Team of the London Stock Exchange, that the next set of figures to be published
by the Company will be a second set of interim results for the six months ended
31 December 2002, to be announced not later than 30 June 2003. These results
will be followed by the preliminary results of the Company for the period 1
January 2002 to 22 January 2003, to be announced not later than 22 July 2003.



Enquiries to:

Tony Rawlinson                                             Tel:  [phone]
Head of Corporate Finance and Managing Director, CFA

Emma Kane                                                  Tel:  [phone]
Redleaf Communications




Notes to Editors:

Following the disposal of WSGL in January 2003, PMG's principal remaining assets
are:

•  50 percent interest in Asian PGA Tour Limited which is the commercial arm for 
   the Asian PGA Tour, as well as holding the exclusive sponsorship contracts 
   for the Asian PGA Tour.

•  80 percent interest in Tour de las Americas Enterprises Limited which is the 
   commercial arm for American Express Tour de las Americas.

•  49 percent interest in Ladies European Tour Enterprises Limited which is the 
   commercial arm for the Ladies European Tour.

•  CNBC Sports franchises in Europe and Asia.

•  Representatives of the Rugby Federation of Italy

Further information is available at the Company's website: 
www.parallelmediagroup.com



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