Nominated Adviser and Broker - Change of Name

PARALLEL MEDIA GROUP PLC                            

                                ("the Company")                                

                Change of Name of Nominated Adviser and Broker                 

The Company announces that Astaire Securities Plc, the Company's Nominated
Adviser and Broker, has changed its name to Northland Capital Partners Limited
following its recent acquisition by Sandfire Capital Inc.

Contact Details

For more information please contact:

Stewart Mison              Parallel Media Group Plc [phone]
                                                                        
Luke Cairns / Ed Hutton    Northland Capital        [phone]
                           Partners                                     
                                                                        
Laura Stevens, Natalie     Bishopsgate              [phone]
Quinn                      Communications                               
                                                                        
www.parallelmediagroup.com