iPhone how to get Magnified effect on certain part of the screen?

Hi all,

The images above are taken from the "Nike Boom" App. I am wondering how to do a magnified effect on the number list as shown in the images. I also want to point out that it is very very smooth animation, so screen capturing certain part of a screen and projected it back on UIView may not work (I tried that)

Thankz in advance, Pondd

Update: Hey,

Just so for anyone who might comes across this topic, I've made a simple sample based on Nielsbot's suggestion and posted up on github here

Please feel free to fork it, improve it and pass it on :)

Best,

Pondd