Stmnt re Share Price Movement

Parallel Media Group PLC
22 January 2004

                            Parallel Media Group plc

                            Statement re: price rise





The Board of Parallel Media Group plc (the 'Company') notes the sudden rise in
the Company's share price today.  The Board wishes to announce that it is
currently in discussions to acquire the interests of its joint venture partner
in Asian PGA Tour Limited.  These discussions are not yet concluded and may or
may not result in the acquisition taking place.





For further information please contact:-



Parallel Media Group plc ('PMG')

Graham Axford                            CEO     Tel: [phone]



St Brides Media & Finance Ltd

Ian James/Hugo de Salis                          Tel: [phone]


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