LARS GULDSTRAND PUT FORWARD AS NEW CHAIRMAN OF PAYNOVA

Paynova’s Chairman of the Board Peter Enström has already revealed that he intends to retire at Paynova’s 2006 Annual General Meeting. Ahead of today’s extraordinary general meeting, he took the initiative and discussed bringing forward the change in chairman at Paynova with the election committee. Peter and the election committee are agreed that he will retire from the Board at today’s extraordinary general meeting and that Lars Guldstrand will be put forward as the new Chairman of the Board.

“I am dividing my time between several honorary offices and, at present, have too high a workload. For a while now, I have been considering freeing up more time for some of my own projects by reducing my commitment to Paynova’s Board. However, I chose to delay this until the company had successfully come through a period of development and achieved operational stability, and until a new Chairman of the Board could be appointed. This is the opportune moment at which to let Lars Guldstrand lead the way into the next phase with its focus on international sales and result-oriented volume development,” says Peter.

Peter Enström was elected to Paynova’s Board in 2002 and has been Chairman of the Board since August 2002.

“Peter has headed the Board’s work during an intensive period when Paynova established an exciting market position. We respect his decision and would like to thank him for his tireless efforts during this period. We are now looking forward to strengthening the Board prior to the next phase of Paynova’s development,” says Bengt Holmqvist, chairman of the election committee and one of the founders of Paynova.

For further information, please contact:

Peter Enström, Chairman of the Board, Paynova AB

Telephone: +46 (0)70-574 99 82

Bengt Holmqvist, chairman of the election committee

Telephone: +46 (0)70-856 06 10

Paynova offers an international, account-based payment service via the Internet. Customers and consumers can use Paynova to choose how funds are replenished and payments are made: Paynova Wallet, credit cards, Internet banks, giro and a number of local payment options in 8 languages and 7 different currencies. E-retailers have access to all this via a security-certified interface with Paynova as the only counterpart.

Paynova has agreements with over 900 e-retailers, primarily within the prioritised segments of travel, retailing, the media and network gaming. Swebus Express, SJ, Ryanair, CD WOW, Fujifilm Sverige and TV4 are just a few of Paynova’s current partners. Paynova has 25 employees and has been listed on NGM since 2004. More information is available at www.paynova.se