Fortune 500 IT Company Selects NetSol's smartOCI Search Engine for eProcurement Solution

smartOCI to Enhance Company's Purchasing Efficiencies

CALABASAS, Calif., June 28, 2011 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that a Fortune 500 information technology company has signed an agreement to implement NetSol's smartOCI search engine software in its SAP eProcurement environment.

The name of the company and terms of the agreement were not disclosed for competitive reasons.

NetSol'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. 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.

"We developed our smartOCI search engine to help companies simplify their search for goods and services, improve their purchasing visibility and expedite order processing time, while at the same time adhering to superior quality standards," said Najeeb Ghauri, chairman and CEO of NetSol. "This agreement further demonstrates our commitment to providing organizations with cost-effective solutions that are designed to deliver a competitive advantage."       

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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 distinctions 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

CONTACT: PondelWilkinson Inc.
         Evan Pondel (310) 279-5973
         investors@netsoltech.com

Image: company logo

Released June 28, 2011