Trading Update

Parallel Media Group Plc ("PMG" or the "Company")               

                                Trading Update                                 

Following the recent announcements made by the Company detailing the
refinancing and restructuring of its Asian operations and purchase of two key
golfing assets from its former Asian partners - the UBS Hong Kong Open and the
TCL Classic (China) - both full PGA European Tour events, PMG is pleased to
announce its recent appointment as exclusive worldwide commercial
representative of Mission Hills Golf Club for the recently announced new World
Golf Championship event in China, the Mission Hills World Cup of Golf.

PMG Chairman, David Ciclitira stated "I am delighted to be working again with
the Chu family, Mission Hills GC and the World Cup of Golf. PMG successfully
promoted the World Cup of Golf between 1987 and 1999 during which time it took
the event to Mission Hills in 1995 and thereby initiated professional golf in
China. The chance to be involved with a world class event that will undoubtedly
become China's Major, and Asia's greatest golf tournament comes very rarely and
we look forward to making it a success."

David Ciclitira said "the last 6 months have been very challenging. After the
successful completion of last week's corporate reorganisation, and the recent
publication of the interims showing PMG's return to profit, I am very excited
about the company's future."

For further information please contact David Ciclitira at Parallel Media Group,
or Leesa Peters at Conduit PR Ltd, tel: [phone].