NetSol Technologies' smartOCI(TM) Search Engine Receives SAP Certification

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CALABASAS, Calif., June 10, 2010 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. ("NetSol") (Nasdaq:NTWK) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, announced today that the Company's eProcurement catalog search engine, smartOCI(TM), has been certified by SAP for integration with SAP applications.

The SAP Integration and Certification Center (SAP ICC) has certified that smartOCI(TM) has achieved the highest level of certification with the B2B-OCI catalog interface, allowing buying organizations to use smartOCI(TM) to search and exchange catalog content from suppliers worldwide and transfer these purchasing requests to the SAP and SRM backend systems. Launched in May, smartOCI(TM) is designed to provide corporate buyers and shoppers a simple and intuitive user interface to search multiple supplier catalogs simultaneously within the SAP SRM application.

Najeeb Ghauri, NetSol Technologies Chairman and CEO, commented: "Achieving SAP certification with our smartOCI(TM) product is an important milestone for our organization and provides our SAP customers and prospects with the confidence that the smartOCI(TM) product properly integrates with the SAP product line."

NetSol is currently partnered with SAP in SAP's PartnerEdge program. Through the program, NetSol works closely with SAP to develop and certify the technical integration of its products with SAP software. Integrated partner applications extend, complement and add value to SAP solutions, thereby helping mutual customers more successfully meet business needs and drive strong results.

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 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.
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Released June 10, 2010