Change of Nomad and Broker

11 September 2009

                           PARALLEL MEDIA GROUP PLC                            

                               CHANGE OF ADVISER                               

Following the acquisition of Dowgate Capital plc by Astaire Group plc, Parallel
Media Group plc announces that it has changed its nominated adviser and broker
to Astaire Securities plc with immediate effect.

For further information please contact:

Martin Doherty            Parallel Media Group Plc  020 7225 2000            
                                                                             
Lindsay Mair              Astaire Securities plc    020 7448 4400