Acquisition

Parallel Media Group PLC
19 March 2004

19 March 2004



                            Parallel Media Group plc



  Acquisition of remaining stake in Asian PGA Tour Limited (the 'Acquisition')



Parallel Media Group plc ('PMG') announces that on Tuesday 16 March it acquired
the remaining 50% interest in Asian PGA Tour Limited ('ATL') which it did not
already control from World Sport Group (Asia) Limited ('WSG') and Seamus
O'Brien. WSG's nominated directors (Seamus O'Brien and Tony Morgan) resigned
from the board of ATL under the terms of the Acquisition.

ATL is in the business of sponsorship, promotion and marketing of golf events in
Asia.  The consideration for the Acquisition is US$500,000 in cash.  In
addition, on completion of the Acquisition ATL transferred to WSG all commercial
contracts relating to the Dynasty Cup and Volvo Masters of Asia events.  PMG
also agreed to cause the repayment to the WSG companies of all shareholder loans
and current trading debts owed to them by ATL, PMG and its subsidiaries,
totalling US$1,269,237. Of this, approximately US$893,000 was paid upon
completion of the Acquisition, and the remaining amounts are to be paid over the
course of the next nine months.  PMG has also committed to WSG that it will
procure that all liabilities of ATL to its creditors as at 10 March 2004 will be
satisfied in full in due course.

ATL continues to promote the Carlsberg Malaysian Open, Caltex Masters presented
by Carlsberg, TCL Classic, Nations Cup and Hong Kong Open.

A key term of the Acquisition is that with effect from completion all existing
civil legal actions previously brought, asserted, pursued or maintained between
PMG, any member of the PMG Group and/or David Ciclitira on the one hand, and the
WSG companies, Seamus O'Brien and/or Tony Morgan on the other hand were either
waived, formally withdrawn or discontinued, and the parties agreed not to bring
any further legal actions against each other in relation to their past
association. In addition, all other contractual relations between the two
parties have been terminated.



For further information please contact:


Parallel Media Group plc

David Ciclitira, Chairman                             Tel: [phone]


St Brides Media & Finance Ltd

Hugo de Salis/Cliff Feltham                           Tel: [phone]






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