NetSol Technologies Completes Leasing Software Implementation for Mercedes-Benz Leasing Company Ltd. China

BEIJING, Sept. 25, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies (Nasdaq:NTWK), a provider of global IT and enterprise application solutions, today announced that Mercedes-Benz Leasing Company Ltd. (China), went live with the NetSol Financial Suite (NFS™).

The implementation further strengthens NetSol's relationship with Mercedes-Benz Financial Services in the Asia Pacific region and emphasizes NetSol Financial Suite as the leading solution for the asset finance and leasing industry.

The German luxury vehicle brand received Ministry of Commence People's Republic of China (MOFCOM) approval to establish Mercedes-Benz Leasing Co. Ltd., under its financial arm, to offer leasing as part of its various automotive financial services, making them the first automaker in China to offer leasing options to private and commercial customers.

"NetSol Financial Suite is one of the most successful lending technology platforms in the industry, supporting asset finance and leasing companies across the Asia Pacific, American and European markets and managing over $100 billion dollars of client portfolios," said Naeem Ghauri, NetSol's president and head of global sales.

"I am extremely proud of my team and highly appreciate their efforts in delivering success every time. What truly excites me is that with this implementation, we have achieved another first in China. I wish our Mercedes-Benz partners all the very best for the future," Ghauri added.

About Mercedes-Benz Leasing Co. Ltd.

Mercedes-Benz Leasing Company Ltd. is a subsidiary of Daimler Financial Services. Daimler Financial Services offers a comprehensive range of automobile-related financial services – the products extend from leasing, retail financing, and dealer financing to commercial fleet management, insurance solutions, banking services, and innovative mobility services. In 2011, the global volume of financing and leasing contracts of Daimler Financial Services exceeded EUR 71 billion. The company has 7,000 employees in approximately 40 countries.

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.

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Released September 25, 2012