NetSol Technologies Wins Contract With Major Japanese Auto Manufacturer's Captive Finance Arm

New Agreement Valued at $4 Million

CALABASAS, Calif., April 10, 2012 (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 valued at approximately $4 million to implement its entire NetSol Financial Suite (NFS)™ solution, including its Wholesale and Retail platforms, with the captive finance arm of a major Japanese auto manufacturer in the Asia Pacific Region. The name of the company is not being disclosed for competitive reasons.

"This is a brand new global client for NetSol and represents a major breakthrough for our company in the international auto captive finance market," said Naeem Ghauri, president and head of global sales at NetSol.

"The new contract improves our financial visibility for the fourth quarter of fiscal 2012, adds to our strong and growing sales backlog for the rest of the next fiscal year, and continues our streak of new clients in the Asia Pacific region," added Najeeb Ghauri, chairman and CEO of NetSol.

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 "believe," "expect," "anticipate," "intend," 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.      

Released April 10, 2012