NetSol Names U.S.-Based Chief Financial Officer

CALABASAS, Calif., Jan. 18, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today named Kevin F. Pickard as the company's U.S.-based chief financial officer. Pickard, 48, will report directly to Najeeb Ghauri, chairman and CEO of NetSol, as well as work with Boo-Ali Siddiqui, who will continue to serve as chief financial officer of NetSol Technologies Pakistan Ltd.

Pickard has extensive accounting experience in the securities industry that includes serving as CFO and providing advisory services for publicly held companies in technology and software sectors. Additionally, Pickard has expertise advising on acquisitions and financial reporting for growth-stage companies.

"Kevin Pickard brings a deep breadth of accounting and finance experience to NetSol, which is integral to our growth strategy and success," Ghauri said. "His understanding of capital markets and reporting expertise are important characteristics as we continue to expand our business domestically and abroad."

Pickard, a certified public accountant, earned Bachelor of Science in accounting and Master of Accountancy degrees from Brigham Young University.

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 January 18, 2012