Issue of Equity

18 Dec 2006 16:49

Parallel Media Group plc Issue of Equity

Following the exercise of third of the four options under the agreement between Parallel Media Group plc (the "Company") and Pacific Continental Securities (UK) Limited described in the announcement made on 3 October 2006, the Company has today allotted to Pacific Continental Securities (UK) Limited 23,741,690 new ordinary shares of 0.5p each in the Company to raise ‚£250,000 for the Company.

Application is being made for all such new ordinary shares to be admitted to trading on AIM and it is anticipated that such admission will become effective and that dealings in such new ordinary shares will start on 19 December 2006. Following this allotment, the Company will have 296,429,269 ordinary shares in issue.