NetSol North America Sales Rebound After Stream of New Orders From Existing Clients

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Sales Gain New Momentum as Clients Pay Additional License Fees to Add More Seats and Features to LeasePak

CALABASAS, Calif., July 14, 2010 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. ("NetSol" or "Company") (Nasdaq:NTWK) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that North American sales of enhancements to its LeasePak lease management solution have significantly increased from the quarter ended in June 2010 into the current quarter.

Enhancements include the purchase of additional licenses and software upgrades. NetSol Technologies North America has sold additional LeasePak licenses to a number of existing customers, including the finance arm of a large automotive manufacturing company. In addition, the Company has experienced a considerable increase in software upgrade revenue, attributed to new functionality required by North American customers using the LeasePak and Wholesale Finance System.

Najeeb Ghauri, Chairman and CEO of NetSol, commented: "The increase in enhancement-related revenue suggests growing North American demand for our LeasePak product. As our major U.S.-based clients seek to upgrade their existing systems, we look forward to providing them with flexible, modular software solutions to meet their changing needs. We are very upbeat about the long-term outlook for NetSol's products and services in the U.S. market."

For over 30 years, LeasePak has been the lease, loan, and asset solution for leading banks, equipment lessors, commercial loan companies, and vehicle lessors throughout North America. LeasePak is a key component of NetSol Financial Suite's end-to-end lifecycle solution.

About NetSol Technologies, Inc.

NetSol Technologies, Inc. (Nasdaq:NTWK) (Nasdaq Dubai:NTWK) is a worldwide provider of global IT and enterprise application solutions. Since its inception in 1995, NetSol has used its BestShoring(TM) practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Specialized by industry, these product and services offerings 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. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in Alameda, Adelaide, Bangkok, Beijing, Karachi, Lahore, London, and Riyadh.

To learn more about NetSol, visit http://www.netsoltech.com.

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NetSol Technologies, Inc. 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. 

CONTACT:  RedChip Companies, Inc.
          Investor Relations Contact:
          Jon Cunningham
          800-733-2447, Ext. 107
          407-644-4256, Ext. 107
          [email protected]
          http://www.redchip.com

Released July 14, 2010