THE CEO OF PAYNOVA LEAVES HIS POSITION.

Pelle Hjortblad has resigned from his post as CEO of Paynova and will during the spring of 2005 leave the company. The board at Paynova has already begun the work of finding a replacement.

www.paynova.com

For further information contact:

Mats Jonnerhag, Information Manager, Paynova AB

Tel: + 46 (0)708 –754 920, e-mail: mats.jonnerhag@paynova.com

Peter Enström, Chairman of the Board, Paynova AB

Tel: + 46 (0) 70 - 574 99 82, e-mail: peter.enstrom@soderlind.se

About Paynova

Paynova (listed on NGM: PAY) is a Payment Service Provider (PSP) with a complete transaction processor offering several services/forms of access for payments and other transfers via the Internet.

The payment services focusing primarily on the Travel, Media and Retailing sectors include the Paynova Wallet, Large Enterprise Services, Mobile Services, Partner Network Services and Payout Services. Transactions are processed between e-retailers, consumers, banks and other players rapidly, simply, securely and cost-effectively.

Paynova’s transaction processor and payment services are linked, together with traditional banks, card companies and other PSPs, to a comprehensive financial infrastructure with both geographical cover and options for minimising transaction costs.

Paynova’s Partner Network includes well-established Internet banks, card companies (VISA, MasterCard etc.), PSPs and other similar players (GZS/easycash, Paybox, TripleDeal, WM-DATA etc.). Via VISA and MasterCard, Paynova can connect transactions globally with more than 20,000 banks. Paynova’s current market focus is Europe.

Important agreements have recently been signed with, for example, Ryanair, SJ, Swebus Express and CDWOW.