PAYNOVA’S NEW SHARE ISSUE VIRTUALLY SECURED

31 March 2004 is the deadline for utilising Paynova options at a redemption price of SEK 7. The company now has sufficient subscriptions, letters of intent to subscribe, subscription guarantees and notifications of interest to take over and utilise options to secure full subscription. The Board of Directors is actively helping to promote the warrants as they are not available through a trading scheme of any kind.

If options pass their subscription date without being redeemed they can no longer be used for subscription by other stakeholders – the result being a lower injection of capital. Full share subscription would bring the company approximately SEK 12.5 million, a sum needed for the operative business and ongoing international marketing.

For further information. please contact:

Pelle Hjortblad, CEO Paynova AB

Phone: +46 (0)8-517 100 07 Mobile: +46 (0)701-810 110

Peter Enström, Chairman of the Board,

Mobile: +46 (0)705-749 982

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