Summary for the period

* Net turnover for the Group for the second quarter increased to KSEK 836 (208). For the first six months of the year, turnover amounted to KSEK 1,360 (427).

* Profit/loss after tax in the second quarter amounted to KSEK -11,521 (-8,759). The corresponding profit/loss for the first six months was KSEK –19,798 (-16,619).

* Profit/loss per share was SEK -0.8 (-0.8) for the second quarter and SEK -1.3 (-1.6) for the first six months.

* The gross transaction volume for the second quarter was KSEK 23,933 (3,791) and for the entire period KSEK 37,696 (7,017). The net transaction margin for the second quarter was 1.8 (1.7) per cent and for the first six months 1.8 (1.7) per cent.

* During the first six months, 79,682 new wallets have been opened, and agreements signed with 94 new e-retailers.

* Paynova’s financial position has been strengthened by two new share issues during the first six

months of 2005. In total over KSEK 30,000 has been brought to the company after costs associated

with the share issues.

* Swebus Express went into operation during March, and the work of starting up SJ and Ryanair

has gone on in accordance with the clients’ internal schedules.

* Paynova has further strengthened its partner network in Europe by means of important partnership

agreements with Pago, ePages and STRATO.

* A comprehensive certification process was implemented during the May-June period to strengthen security and to meet the requirement for PCI certification from the charge card industry, primarily Visa and MasterCard.

* A strong position within the network games sector is under construction together with partners and a number of gaming companies, including Nintendo, Habbo, Projekt Entropia, NiP and Midasplayer.

* Since the end of the period, the Board has appointed Lars Ekstedt as the new CEO of Paynova AB. In addition, Lars Guldstrand has become an associate of the company as a consultant in both operational and strategic activities and has been coopted onto the Board. Johan Waxberg returns

to the post of CFO and deputy CEO in the operational management group.

(For complete interim report see attached file)


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