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We explore the origin of the strong soft X-ray excess in Narrow Line Seyfert1 galaxies using spectral-timing information from a 120ks {\it XMM-Newton}observation of PG 1244+026. Spectral fitting alone cannot distinguish between atrue additional soft X-ray continuum component and strongly relativisticallysmeared reflection, but both models also require a separate soft blackbodycomponent. This is most likely intrinsic emission from the disc extending intothe lowest energy X-ray bandpass. The {\it RMS} spectra on short timescales(200-5000s) contain both (non-disk) soft excess and power law emission.However, the spectrum of the variability on these timescales correlated withthe 4-10 keV lightcurve contains only the power law. Together these show thatthere is fast variability of the soft excess which is independent of the 4-10keV variability. This is inconsistent with a single reflection component makingthe soft X-ray excess as this necessarily produces correlated variability inthe 4-10 keV bandpass. Instead, the {\it RMS} and covariance spectra areconsistent with an additional cool Comptonisation component which does notcontribute to the spectrum above 2 keV.

A Long XMM-Newton Observation of An Extreme Narrow Line Seyfert 1: PG 1244+026