Banque Invik forms joint venture with Alphyra for money transfer services

Banque Invik, the Luxembourg bank within the Invik Group, has entered
into a joint venture agreement with alphyra group limited
("alphyra"), owner of payzone, Europe's largest cash acceptance
network, to provide card based money transfer services. Under the
terms of the joint venture Banque Invik will acquire 48.5 percent of
Smart Transfer Ltd, a subsidiary of alphyra. Smart Transfer provides
a card based money transfer service in the UK. The share purchase is
conditioned upon the approval of the Luxembourg financial supervisory
authority.

Smart Transfer offers an easy, quick and cheap service to send  money
all over the world. The solution  consists of two cards, one for  the
sender and  one for  the  receiver of  funds.  The sender  gives  the
receiver card to the person  he wants to send  money to.  The  sender
can load money at payzone's 28,000  payment terminals in the UK.  The
receiver will have the money  available immediately and can  withdraw
money from ATM's or use the card as a normal debit card in shops  all
over the world.

Smart Transfer today operates in the UK but will expand the  services
in other European countries in the near future. alphyra is the  owner
of payzone, Europe's largest independent cash acceptance network with
headquarter in Dublin, operating in  20 countries across Europe,  and
with a network of 150,000 retailers.

Anders Fällman, President  and CEO of  Invik & Co  AB comments:  "The
card operations within Banque Invik has developed favorably and Smart
Transfer will  enable  a further  expansion  of Banque  Invik's  card
operations in Europe. Money transfer services are growing rapidly and
together  with  alphyra,  the  operator  of  Europe's  largest   cash
acceptance  network,  we  will   offer  competitive  money   transfer
services".

John Nagle, CEO of alphyra comments: "The ability for everyday people
to transfer money has lagged  the recent increased cross-border human
movement.  This joint venture goes some way towards readdressing  the
balance, providing a solution  that is as simple  and safe, as it  is
affordable."

For further information, please visit www.invik.se,
www.mysmarttransfer.com, www.alphyra.com  or contact:


Invik & Co. AB
Anders Fällman, President and CEO +46 (0)8 562 000 20
Mattias Björk, CFO                +46 (0)8 562 000 58

alphyra group limited
Sean O'Mara                       +44 (0) 207 002 1080


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Invik is a  finance group with  a broad product  profile focusing  on
insurance, banking and fund management.  Invik is active in a  number
of carefully selected  segments in  which the Group  can create  high
growth and build long-term, successful companies, while  consistently
focusing on profitability. Group companies are distinguished by their
constant efforts to seek new avenues for growth in profitable  niches
in the financial sector.

Invik  is  made  up  of  five  major  financial  operations:   Modern
Insurances Non-life, with its direct insurance operations focusing on
individuals and small companies; Modern Insurances Life, which offers
life, pension and  endowment insurances;  Assuransinvest manages  the
remaining run-off portfolio;  Banque  Invik, a private bank based  in
Luxembourg with operations in  asset management, card operations  and
corporate services and Invik Funds, which pursues fund operations  in
Aktie-Ansvar and Modern Funds. Invik is listed on the Stockholm Stock
Exchange Mid Cap under the name INVKB.