Last checked at 15 Mar 2007 07:00
PARALLEL MEDIA GROUP PLC
Parallel Media Group signs agreement with Oriental City Group to become Media
Co-Sponsor at the TCL Classic and Partner Sponsor to the UBS Hong Kong Open
Parallel Media Group plc ("PMG"), the sports marketing, media and management company, today announces that it has signed an agreement with Oriental City Group (OCG), the Hong Kong based financial services group specialising in Lifestyle Credit Cards which recently listed on the London PLUS market, to become Media Co-Sponsor at the 2007 TCL Classic golf tournament, to be staged at Hainan Island from 15-18 March.
PMG have also signed an agreement for OCG to become Partner Sponsor to the UBS Hong Kong Open golf tournament in November 2007.
In addition PMG and OCG have signed an agreement to jointly promote the `Golf Card', an affinity credit card, which offers a variety of lifestyle benefits to new cardholders. The agreement will run for an initial period of five years.
PMG will work with OCG, which already possesses a golfer's database in Asia, to develop new markets for the `Golf Card' in using the extensive array of contacts developed in the golf world during PMG's 10-year existence as a global specialist in executive sports.
David Ciclitira, PMG Executive Chairman, said "This is PMG's second significant transaction in 2007 and enhances PMG's position as a service provider to luxury brands in emerging markets. We are delighted that the agreement between our companies encompasses OCG's sponsorship of two high-level golf tournaments in Hong Kong and China and we look forward to a long and rewarding relationship with OCG, which will successfully build on the synergy that exists between our two companies".
Helen Mitchell / Richard Graham Jos Simson / Leesa Peters
Parallel Media Group Conduit PR Ltd
+44 20 7225 2000 +44 (0) 207 429 6603
h.mitchell@parallelmediagroup.com +44 (0)7899 870 450
r.graham@parallelmediagroup.com jos@conduitpr.com
PARALLEL MEDIA GROUP PLC