Abstract: It is shown that a subluminal electromagnetic plasma wave, propagating in phase with a background subluminal gravitational wave in a dispersive medium, can undergo parametric amplification. For these phenomena to occur, the dispersive characteristics of the two waves must properly match. The response frequencies of the two waves (medium dependent) must lie within a definite and restrictive range. The combined dynamics is represented by a Whitaker-Hill equation, the quintessential model for parametric instabilities. The exponential growth of the electromagnetic wave is displayed at the resonance; the plasma wave grows at the expense of the background gravitational wave. Different physical scenarios, where the phenomenon can be possible, are discussed.