PAYNOVA STRENGTHENS ITS POSITION ON THE MARKET FOR STUDENTS ONLINE PURCHASES

- signs agreement with Studentkortet (a Swedish student card)

Paynova AB, listed on the stock exchange (NGM Equity) since February 26 this year, is strengthening its leading position on the market for online payment solutions. Through an agreement with Studentkortet AB the Paynova Wallet dominates the market for students digital payments. Studentkortet is a Swedish student card offered to all students currently enrolled at a university in Sweden. The card entitles the holder to a wide variety of discounts and special offers on a national and local level. Paynova already has a similar agreement with the other company in this field, Mecenat AB. The agreement also opens up discount opportunities for almost 200,000 students online purchases.

Studentkortet is a discount card for any student at a Swedish University. It is a membership card for the student union as well as a student ID. It provides access to student discounts on domestic air and train travel (e.g. SAS and SJ) and in more than a thousand other places in Sweden. Studentkortet is also a commercial product whose purpose is to offer Swedish students a broad range of discounted products and services. It has not previously been possible to claim these discounts online.

Paynova’s investment in this cooperation is approximately SEK 600,000 over a two-year period.

The Studentkortet card is issued by Studentkort i Sverige AB and owned by Headworker Consulting AB together with SFS, the Swedish national union of students. The card is distributed to about 200,000 students at institutions such as Stockholm University, where Studentkortet has an exclusive agreement with the student union.

"The cooperation with Studentkortet in combination with the earlier agreement with Mecenat further strengthens our position in a highly interesting target group: students. Our point of departure is that students should be able to pay for discounted products and services irrespective of whether they shop online or in stores. Furthermore, it gives e-commerce merchants connected to the Paynova Wallet an opportunity to direct their offers to the students," says Paynova CEO Pelle Hjortblad.

Paynova offers consumers and e-commerce merchants a safe, fast and easy online payment solution. The Paynova Wallet has global functionality, so no local adaptation is needed for making payments. The consumer signs up for a Wallet online, free of charge. The functionality of the Wallet corresponds to that of a wallet in the physical world. It is possible to fill the Paynova Wallet with cash using credit cards, Internet banking or postal/bank giro. The Paynova Wallet can be used to pay for a product or service just like in the physical world.

For further information. please contact:

Pelle Hjortblad, CEO Paynova AB

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

About Paynova

Paynova AB, which was listed on the stock exchange (NGM Equity) on February 26, 2004, is a company specializing in secure online payments. The Paynova Wallet is a digital wallet for digital transactions that can handle amounts from 0,1 Euro 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 get, use and install for merchants. More than 20,000 banks worldwide accept the Paynova solution for VISA and MasterCard payments. Since launch in 2001, Paynova AB has signed agreements with more than 500 companies and organisations. Pelle Hjortblad, former CEO of Tele1 Europé/ Song Networks, is the CEO of Paynova. The full Paynova share prospectus can be found at www.paynova.com.