BJÖRN WAHLGREN NEW CEO OF PAYNOVA

(NGM: PAY)

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

Björn Wahlgren became an associate of the Paynova management group earlier this year, and now takes up the role of CEO with immediate effect. Björn has extensive experience of finance, insurance and payment operations and was most recently national supervisor for First Data International in Sweden. First Data is one of the world’s leading independent suppliers of solutions for electronic payments, with over five million customers across the world. Prior to that, Björn was CEO of Eurocard, Rikskuponger and Gota Finans.

“Following the completed restructuring in 2007, Paynova is in an expansive stage. It is now able to take up a strong position on several rapidly growing markets. First and foremost, this concerns realising all the potential of Paynova’s payment service and converting it into new customers and partnerships. I look forward to further increasing Paynova’s growth and building Paynova up into a global leader for supplying account-based payment services over the Internet,” says Björn Wahlgren, new CEO of Paynova.

“Björn has extensive experience of electronic payments and the finance sector, and as CEO will be able to contribute strongly to Paynova’s continued development. After the vigorous restructuring carried out by Per Sunnemark, it is natural that Björn, with his industrial competence and extensive experience, should take Paynova into its next phase. Paynova must accelerate its growth, further refine its payment service and take up a strong market position within the company’s prioritised segments. Here Björn’s broad international experience and network of contacts will be of enormous value to the company. Paynova has an international customer base with many interesting partnerships, particularly after last year’s activities in China. The company is today positioned ready for growth and I believe that 2008 will be an exciting year of expansion for Paynova,” says Lars Guldstrand, Chairman of the Board at Paynova.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lars Guldstrand, Chairman of the Board

Telephone: +46 (0)70-528 81 81

Björn Wahlgren, CEO and Group President

Telephone: +46 (0)70-728 74 40

ABOUT PAYNOVA

Paynova offers an international, account-based complete service for payments via the Internet. With Paynova as the only counterpart, e-retailers can get a payment guarantee for 21 payment options with credit cards, debit cards and Internet banks, in 12 languages with 11 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 1,800 e-retailers. Most are found in the following prioritised segments: travel, retail and media/network games. The company has been listed on NGM Equity since February 2004. For more information: www.paynova.com.