11 July 2017

Parallel Media Group Plc ("PMG" or the "Group")

Clarification statement re substantial shareholders

Parallel Media Group Plc (AIM: PAA), a leading event marketing and media agency notes, announces that a letter containing the following statement is being posted to all shareholders in the Group (the "Shareholders"):

"In the Group's annual results for the year ended 31 December 2016, distributed to Shareholders on 30 June 2017 and announced via RNS on the same date, a table listing substantial shareholders in the Group was misstated. A correct list of substantial shareholders in the Company is confirmed as follows:

Substantial Shareholders

The following investors have notified the Directors that they hold or are beneficially interested in 3% or more of the Group's ordinary share capital:

The Company's issued ordinary share capital comprises 3,009,233 shares.

For further information please contact:

Parallel Media Group Plc

David Ciclitira                                                    Tel: 020 7225 2000

Stockdale Securities Limited

Richard Johnson / Edward Thomas          Tel: 020 7601 6100