NetSol Technologies Signs Contract to Implement Point of Sale System With Customer in Thailand

CALABASAS, Calif., March 21, 2013 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that it has signed an agreement to implement the NetSol Financial Suite ^TM Point-of-Sale (POS) module with a leading European auto captive finance company based in Thailand. The implementation includes integration into the client's NetSol Financial Suite Contract Management System, enabling its dealers across the country to streamline their finance proposal processes and manage and maintain contracts throughout their lifecycle.

"As the market in Thailand evolves, auto captives will require greater standardization and visibility across their dealer networks, and NetSol provides that solution," said Naeem Ghauri, president and head of global sales of NetSol. "Projects such as this demonstrate our commitment to adding continuous value to our customers through tailored technology solutions and dedicated on-the-ground support."

The NetSol Financial Suite POS module is a front-office processing system that provides a quotation system for various financial products using a built-in loan calculator.  The module gathers required information from the customer in order to create finance or leasing contracts, and manages all of the documents required in producing the contract. The system incorporates a workflow engine that ensures the smooth transition of tasks and streamlining of processes for all types of financial institutions.

The customer's name and total value of the agreement were not disclosed for competitive reasons, although NetSol said the contract includes product licenses, business processes consultancy and on-site implementation services. Additional revenue streams include maintenance, support and product enhancements. 

About NetSol Technologies

NetSol Technologies, Inc. (www.netsoltech.com) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in Calabasas, Calif., NetSol's product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company's clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh.

The NetSol Technologies, Inc. logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=9832

Forward-Looking Statements

This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "expects," "anticipates," variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

CONTACT:   Investor Contacts:
         
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                    Roger Pondel | Matt Sheldon
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                    (310) 279-5980
         
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                    (310) 279-5968

Released March 21, 2013