NetSol Expands Into Healthcare Sector Automation

IT Services Contract Win From a Major Public Sector Hospital Reflects NetSol's Penetration Into Hospital Management Systems (HMS)

CALABASAS, CA -- (MARKET WIRE) -- 10/01/07 -- NetSol Technologies, Inc. ("NetSol") (NASDAQ: NTWK), a multinational provider of IT services and enterprise solutions, today announced that NetSol's Asia-Pacific Division has won a contract to design and implement an IT system for a major public sector hospital. This opportunity for NetSol represents a new business sector vertical for the Company, focused on the development and implementation of Hospital Management Systems (HMS). NetSol will be collaborating on this project with a partner organization that specializes in process automation for the healthcare sector and related services through its indigenously developed software applications.

NetSol and its partner are working towards the research and development of a ubiquitous Hospital Management System that will serve as an automated, secure and integrated solution for any hospital's clinical, financial and management needs. This collaboration enables each party to complement the unique capabilities of the other and will provide prospective customers with the best combination of capabilities to achieve project objectives.

Mr. Najeeb Ghauri, chairman and CEO, commented, "The healthcare sector in Pakistan is growing at a very fast pace and there is a strong demand for the development and implementation of Hospital Management Systems. As a new vertical for NetSol, we see tremendous opportunity for growth in this new niche. The final HMS solution developed by NetSol and our technology partner will ultimately be marketed globally."

About NetSol Technologies

NetSol Technologies is a multinational provider of IT services and enterprise solutions to the financial services industry. NetSol helps clients to identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective equipment and vehicle finance portfolio management solutions. The Company also delivers managed IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessment, a distinction shared by only 94 companies worldwide. The Company's clients include global automakers, financial institutions, technology companies and governmental agencies. Headquartered in Calabasas, CA, NetSol Technologies also has operations and/or offices in London, San Francisco, Adelaide, Beijing, Lahore and Karachi, Pakistan. To learn more about NetSol Technologies, visit the Company's web site at Click here to join the NetSol Technologies, Inc. email distribution list:

Forward-Looking Statements

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NetSol Contacts:

NetSol Technologies, Inc.
Tina Gilger
Chief Financial Officer
Tel: +1 818-222-9195, x112

Investor Relations
Christopher Chu
The Global Consulting Group
Tel:   +1-646-284-9426