Tesla Financial Services GmbH Goes Live With NetSol Technologies' Business Process Outsourcing Service

Service Manages Tesla Financial Services' Finance and Leasing Back Office Process in Germany

CALABASAS, Calif., June 2, 2015 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a global business services and enterprise application solutions provider, today announced that Tesla Financial Services GmbH went live with NetSol's Business Process Outsourcing (BPO) service to manage their entire finance and leasing back office process in Germany. NetSol's asset financing and leasing application, LeaseSoft, is being utilized to run the BPO service.

"This is an exciting breakthrough for NetSol's European operations, selected to not only deliver the software solution, but also manage the entire back office process for Tesla's finance business in Germany," said Najeeb Ghauri, CEO of NetSol. "Our long history of client successes and experience running a BPO services business through our subsidiary Virtual Lease Services, as well as our recent expansion effort in the region, were key factors in winning this agreement."

NetSol recently opened a new office in Germany and expanded operations in the U.K. as part of the Company's growth objectives in the region.

About NetSol Technologies

NetSol Technologies, Inc. (Nasdaq:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and financing industry. The Company's suite of applications are backed by 40 years of domain expertise and supported by a committed team of more than 1000 professionals placed in eight strategically located support and delivery centers throughout the world.

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 "expects," "anticipates," 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.

Investor Contacts:

Matt Sheldon | investors@netsoltech.com
(310) 279-5980

Media Contacts:

George Medici | gmedici@pondel.com
(310) 279-5968

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Source: NetSol Technologies, Inc.