New Accounting Ref Date

Parallel Media Group PLC
15 April 2003



Parallel Media Group plc ('the Company')

Change of accounting reference date

The Company announces that it has changed its accounting year end from 30
December to 22 January. The next audited accounts to be produced by the Company
will therefore be in respect of the period ended 22 January 2003. By
implementing this change the results for the period will encompass the disposal
of World Sport Group Limited and the next accounting period will begin
immediately following the completion of the reorganisation of Parallel Media
Group plc. Following this adjustment for the period ended 22 January 2003, the
financial year end of the Company will then be changed again, to 31 December.







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