PER SUNNEMARK NEW PAYNOVA CEO

(NGM: PAY)

The Board of Directors of Paynova AB (publ) has appointed Per Sunnemark as the new CEO and Group President of Paynova.

Per Sunnemark has had an operational role at Paynova since September 2006 with responsibility for Paynova’s comprehensive restructuring work in partnership with Xponse IT Services, based in India. Per was previously CEO of Monster (formerly Jobline), the world’s leading online recruitment agency, where he was responsible for the Swedish branch and for activities across Scandinavia. Before that Per was CEO of software company Mindmark Learning, sales manager at MFS WorldCom and marketing manager at Telia.

“Paynova is currently experiencing an exciting period of change with great potential for development. I look forward to managing the restructuring of the company, and can see a lot of potential in future developments, including the partnership with Xponse, which I have been involved in running from the very start. Paynova’s payment services are already well-positioned on our priority market segments where strong growth is continuing,” says new Paynova CEO Per Sunnemark.

In order to further strengthen Paynova’s investments in North America, former CEO Lars Ekstedt will be focusing on this area and on the further development of Paynova’s international bank relations.

“The appointment of Per Sunnemark as CEO is an important reinforcement of Paynova’s management. Per is known to be an extremely capable manager with extensive experience gained from high-level positions within the IT sector, so we, the board, have great confidence in appointing him as our new CEO and Group President. So far, and in a very short space of time, Per has done extraordinarily well in his restructuring work with Xponse. Appointing him as our new CEO is absolutely in line with the period of change that Paynova is currently experiencing. The new division of labour, with Lars Ekstedt devoting himself full-time to the task of further developing the position he built for Paynova in North America also means that both this process and the restructuring work can be speeded up,” says Lars Guldstrand, chairman of the board at Paynova.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lars Guldstrand, Chairman of the Board

Telephone: +46 070-528 81 81

Per Sunnemark, CEO and Group President

Telephone: +46 070-147 67 55

ABOUT PAYNOVA

Paynova offers an international, account-based payment service via the Internet. With Paynova as the only counterpart, e-retailers get a payment guarantee for around twenty payment options in 10 languages with 8 currencies in a security-certified interface (PCI). Consumers can open an account, a Paynova wallet, for free on the Internet to make purchases simpler and more secure, as well as look after transfers between family members, friends and acquaintances.

Paynova has agreements with around 1,000 e-retailers. Most are found in the following prioritised segments: travel, retailing and media/network games. The company has been listed on NGM Equity since February 2004. For more information: www.paynova.com