Director/PDMR Shareholding

PARALLEL MEDIA GROUP PLC                            

                              DIRECTOR'S DEALING                               

The board of Parallel Media Group plc (the 'Company') was today informed that
the Tokyo Settlement today transferred its entire shareholding of 8,666,666
ordinary shares in the Company, representing approximately 39 per cent. of the
Company's issued share capital, to David Ciclitira, the Chairman and CEO of the
Company. The ordinary shares were transferred at a price of 4.375p per ordinary
share.

The Tokyo Settlement is a discretionary trust, whose trustee is Walbrook
Trustees (Jersey) Limited, a company incorporated in Jersey. David Ciclitira is
a discretionary beneficiary of The Tokyo Settlement.

David Ciclitira's previously disclosed holding of 12,418,243 ordinary shares
representing approximately 56 per cent. of the Company's issued share capital
remains unchanged.