Result of AGM

29 July 2011

                           Parallel Media Group PLC                            

                           ("PMG" or the "Company")                            

                                 Result of AGM                                 

PMG, a sports media and digital company, is pleased to announce that at the
Annual General Meeting of the Company held today, all resolutions were duly
passed by shareholders.

As a result and further to the announcement made on 28 July 2011, the 1,153,746
consideration shares allotted as part of the consideration for the acquisition
of Parallel Media Korea (Smart Media) Limited will admit to trading on AIM on 1
August 2011 and the 3,428,568 placing shares allotted following the successful
£1.2m placing at 35 pence per share will admit to trading on AIM on 3 August
2011.

                                     -END-                                     

For further information, please contact:

Parallel Media Group plc 020 7225 2000

David Ciclitira, Charles Wale

Northland Capital Partners Limited 020 7796 8800

Luke Cairns, Edward Hutton

Bishopsgate Communications 020 7562 3350

Deepali Schneider, Natalie Quinn

[e-mail]