CashGuard AB: Erik Svedmark new CEO of SQS

Erik Svedmark has been appointed as CEO of SQS AB, which develops
leading security solutions for the international bank and
cash-in-transit market. The appointment comes at a time when SQS is
experiencing a high level of activity, with excellent prospects for
the next few quarters."It's fantastic to have Erik Svedmark on board as the new head of
SQS. We're convinced that with his broad and solid experience, he
will add considerable value both commercially and technically,
together with the business's other employees," says Jørgen Waaler,
Group CEO of both PSI Group ASA and CashGuard AB, awaiting the formal
implementation of the merger.

Erik Svedmark lives in Skellefteå, the site of SQS' administrative
headquarters and production operations. He is 50 years of age and
graduated from Linköping University with a degree in engineering.
Erik has also completed several training courses since then. Erik
Svedmark has had several different jobs during the course of his
professional career, including researcher at the Swedish Defence
Research Agency, research and development engineer at Bofors
Aerotronics AB, where he was also group and project manager for the
development of radio and data communication for the military
aircraft, JAS39. He has also worked at Telia, and held several senior
positions at Ericsson, both in Skellefteå and internationally,
including 3 years spent in Japan. When he left Ericsson in 2002, Erik
was General Manager. He comes to us most recently from Leab (Lövånger
Elektronik AB), where he has been Managing Director and Group CEO for
the past six years."I'm really looking forward to starting at SQS, which I think is not
only one of the most interesting businesses in Skellefteå, but in the
whole of Sweden. Together with PSI Group and CashGuard, SQS continues
to have huge potential in Europe and internationally, and I'm
convinced that we'll be extremely successful in the future, both as
an individual company and within the whole group," says Erik
Svedmark.

The merger between PSI Group ASA and CashGuard AB, which includes
SQS, is proceeding as planned and, as previously announced, the
merger is expected to be formally completed this August, with PSI
Group ASA as the acquiring party, and with the fiscal year beginning
10 June. PSI Group ASA will present the result for the second quarter
on Friday 29 August.

For further information, please contact:
Jørgen Waaler, Group CEO PSI Group ASA/CashGuard AB, telephone +47
905 90 010




Facts about PSI Group ASA
PSI is Scandinavia's leading supplier of advanced IT solutions for
retail, which manage, distribute and safeguard cash and make the
process of managing prices, goods and consumer information more
efficient. The PSI Group's head office is based in Rælingen and the
Group employs approximately 210 people in Norway and Sweden, with
sales of around MNOK 461 in 2007. The company is listed on the Oslo
Stock Exchange and has been the largest shareholder in CashGuard AB
for some time. For further information, visit www.psi.no.

Facts about CashGuard AB (publ)
CashGuard develops and  sells products  and services  for secure  and
fully automatic cash  handling and cash  logistics. Via direct  sales
and distribution  partners, CashGuard  focuses on  retail  companies,
post offices  and  banks,  as  well as  on  security  companies.  The
CashGuard Group has approximately 180 employees and had sales of  SEK
387 million in  2007. CashGuard  shares are listed  on the  Stockholm
Stock Exchange.