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From: Nigel
ArtDate: 5th October 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.115.61
Date: 10/10/06
Time: 22:56
5th October 2006
Parallel Media Group Trading Update
News Item - Conduit PR
Following the recent announcements made by the Company detailing the refinancing and restructuring of its Asian operations and purchase of two key golfing assets from its former Asian partners - the UBS Hong Kong Open and the TCL Classic (China) - both full PGA European Tour events, PMG is pleased to announce its recent appointment as exclusive worldwide commercial representative of Mission Hills Golf Club for the recently announced new World Golf Championship event in China, the Mission Hills World Cup of Golf.
PMG Chairman, David Ciclitira stated 'I am delighted to be working again with the Chu family, Mission Hills GC and the World Cup of Golf. PMG successfully promoted the World Cup of Golf between 1987 and 1999 during which time it took the event to Mission Hills in 1995 and thereby initiated professional golf in China. The chance to be involved with a world class event that will undoubtedly become China's Major, and Asia's greatest golf tournament comes very rarely and we look forward to making it a success.'
David Ciclitira said 'the last 6 months have been very challenging. After the successful completion of last week's corporate reorganisation, and the recent publication of the interims showing PMG's return to profit, I am very excited about the company's future.'
For further information please contact David Ciclitira at Parallel Media Group, or Leesa Peters at Conduit PR Ltd, tel: +44 (0) 207 429 6666
Edward Portman Conduit PR Ltd 76 Cannon St London EC4N 6AE Office: +44 (0) 20 7429 6666 Direct: +44 (0) 20 7429 6607 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 773 3363 501
www.conduitpr.com
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