Major Media Company Signs Agreement to Implement Vroozi's SmartOCI B2B E-Commerce Search Engine

Contract Represents Major Win for Netsol's Vroozi Division in Media Sector

CALABASAS, Calif., April 12, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a provider of global IT and enterprise application solutions, today announced that its Vroozi division has signed an agreement with a top U.S. media company to implement a full B2B e-commerce search engine suite, including the smartOCI Search Engine, Catalog Manager and Supplier Marketplace. The name of the customer and total value of the agreement were not disclosed for competitive reasons.

"Our smartOCI application is continuing to gain traction in the market as customers are increasingly looking to deliver more user friendly procurement solutions to their end users and drive better returns on their investment," said Shaz Khan, COO and co-founder of Vroozi. "This contract is a great win for us in the media industry and further demonstrates our commitment to building and reshaping the way procurement applications and solutions are consumed and deployed."

Vroozi's smartOCI product is designed to facilitate the B2B procurement process by providing companies with a powerful e-commerce search engine that improves purchasing efficiencies and delivers a compelling B2C-like user experience in the B2B eProcurement space. The software allows companies to access their global suppliers and retrieve competitive pricing information to meet their purchasing requirements, as well as collaborate with their suppliers to exchange and publish catalog content.

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

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Released April 12, 2012