Further re: Volvik - Sky Lake Vietnam Masters

RNS Number : 9370M

Parallel Media Group PLC

02 September 2013

2 September 2013

Parallel Media Group PLC

("PMG" or the "Company")

Volvik - Sky Lake Vietnam Masters Golf Tournament in Vietnam Postponed until 2014

Further to the announcement dated 7 June 2013, PMG, the AIM quoted sports, entertainment and media agency, announces that the inaugural Volvik-Sky Lake Vietnam Masters, which was scheduled from September 19-22, 2013, will be delayed until next year. The postponement of this event was at the request of the co-Title Sponsors and follows a mutual agreement between the sponsors, the Asian Tour and PMG. The result of the delay is that the revenue associated with the event will now fall into the Company's 2014 financial year.

The Company's results for the six months ended 30 June 2013 are expected to be announced prior to 30 September 2013. In addition, the Company has identified and begun to implement certain cost saving measures and accordingly, the Board expects that the Company's results on a profit before tax basis for the year ending 31 December 2013 will be in line with market expectations.

-ENDS-

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