PAYNOVA’S NEW SHARE ISSUE OVERSUBSCRIBED

Paynova AB (publ) (‘Paynova’) has implemented a new share issue with preferential

rights for shareholders. Huge interest was displayed in the share issue, and it was

oversubscribed. Therefore the existing underwriting guarantee does not need to be used.

The fact that the issue was fully subscribed means that Paynova will gain approximately SEK29.8 million before associated costs. The new share issue increases the number of Paynovashares by 7,461,605. Following the share issue, share capital amounts to SEK 2,238,481.50,distributed between 22,384,815 shares each nominally worth SEK 0.10.

Along with each subscribed and paid share come two subscription options, free of charge, one for series TO8 and one for series TO9. The total number of subscription options issued comes to 7,461,605 for series TO8 and 7,461,605 for series TO9. Two subscription options for series TO8 permit the owner to subscribe to one new share at a price of SEK 6.00 per share during the period 1 January – 31 May 2006. Ten subscription options for series TO9 permit the owner to subscribe to one new share at a price of SEK 12.00 per share during the period 1 January – 31 May 2007.

‘We are delighted that there has been such interest in the share issue despite the fact that it is summertime. It is particularly positive that existing shareholders have shown such confidence in the company, representing more than 75 per cent of the share issue. Through capital

reinforcement we can now speed up our marketing campaigns with an increased focus on Europe,’ says Peter Enström, Chairman of the Paynova Board.

For further information contact:

Peter Enström, Chairman of the Board, Paynova AB

Mobile: +46-70-574 99 82

About Paynova

Paynova AB offers modern payment services on the Internet, for large and small sums alike. Eretailers gain access to a number of European payment methods and currencies in a total solution with a payment guarantee. Consumers can open a Paynova wallet free of charge on the Internet to make purchases more secure and simpler, or look after transfers between family members, friends and

acquaintances. More than 20,000 banks worldwide accept VISA and MasterCard payments via Paynova. More than 800 e-retailers have agreements with Paynova. Most are found in the following segments: travel, media, the retail trade and network games, e.g. Swebus Express, SJ, Ryanair, CD

WOW, Fujifilm Sverige, and TV4. The company has been listed on NGM since February 2004.

For more information and pictures, visit: www.paynova.se