EXERCISING OPTIONS IN PAYNOVA BRINGS SEK 9 MILLION

Through the exercising of subscription options, Paynova is to receive around SEK 9 million. This issue is part of the financing programme announced before the stock exchange quotation on NGM in February. In Sweden, around 500 e-retailers have connected up to Paynova’s online wallet, which is now to be launched internationally, initially in Germany and France.

This issue increases the number of shares by 1,273,250 to a total of 10,930,970 shares. The issue price was SEK 7 per share, which provides the company with SEK 8,912,750. The number of options with subscription rights was 1,787,990. All assigned option rights have been subscribed for. The final day for subscription was 31 March 2004.

The financing programme facilitates the ongoing international establishment of the company, and aims to create positive cash flow at some point in the next year. It was proposed to the Annual General Meeting on 6 May 2004 that the board be authorised to target the new share issue at industrial/financial partners.

The Board

For further information. please contact:

Peter Enström, Chairman of the Board

Cell: +46 (0) 70-574 99 82.

About Paynova

Paynova AB, listed on NGM Equity on 26 February 2004, is a company specialising in secure online payments. The Paynova Wallet is a digital wallet for digital transactions that can handle amounts from 5 pence and up. The digital wallet enables the customer to manage and control purchases limiting his/her personal credit card or eBanking information to only one counterpart. The Paynova Wallet is easy to acquire and use, and simple for the merchant to install. More than 20 000 banks worldwide accept the Paynova solution for VISA and MasterCard payments. Since its launch in 2001, Paynova AB has signed agreements with more than 500 companies and organisations that now offer the Paynova Wallet as a payment option on their websites. Pelle Hjortblad is the CEO of Paynova. The full Paynova share prospectus can be found at www.paynova.com