Live Company Regulatory News (LVCG)

7 Feb 2006 11:10

PARALLEL MEDIA GROUP PLC ANNOUNCES 2006 FIFPRO WORLD X1 PLAYER AWARDS TO BE HELD IN ATHENS Parallel Media Group plc ("PMG" or the "Company"), who were appointed inNovember 2005 as the `Exclusive Commercial Agency' for the FIFPro World IXPlayer Awards (the "Awards") until 2009, are pleased to announce that, afterdiscussions with a number of potential Host Cities, the bid by Athens to hostthe 2006 Awards has been accepted.FIFPro was set up in 1965 and is the professional footballers' players union,representing some 38,000 members around the world. The FIFPro Awards are theannual awards that determine the world's best X1 players, voted for by theirpeers.PMG, through its joint venture company Parallel Media Greece, will receive 20%of all commercial gross revenues generated from the Awards, of which PMG willretain 10% after the deduction of relevant costs. The 2006 Awards will generatea minimum of ¢â€š¬4m of gross commercial revenues, prior to the inclusion ofsponsorship, broadcast, and merchandise revenues.In addition to negotiating and securing the 2006 Host City, PMG'sresponsibilities will include the sale of sponsorship agreements, theinternational television distribution and the commercialisation of the Awardswhich includes working with international SMS providers.PMG has nineteen years experience in these disciplines and has been successfulin negotiating both multiple host venue and sponsorship agreements across awide range of sports and entertainment events.David Ciclitira, Chairman & CEO of PMG added, "PMG are very excited to bebringing the FIFPro World XI Player Awards to Athens. We are confident that wewill significantly increase the commercial revenues and broadcast coverage ofthe 2006 event and look forward to making the FIFPro Awards an established partof the world sporting calendar"ENDSPam Spooner/Leesa PetersConduit PR +44 (0) 20 7429 6666Wynton FaureParallel Media Group +44 (0) 20 7225 2000PARALLEL MEDIA GROUP PLC