NetSol Signs Contract With Sany Corp. of China to Implement NFS Solution

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Leading Concrete Equipment Manufacturer Will Deploy End to End NFS Enterprise Solution to Run Its Captive Finance Company

CALABASAS, Calif., June 15, 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, today announced that Sany Corp. of China, the largest concrete equipment manufacturer in the world, has signed a contract of significant value to install NetSol's Financial Suite ("NFS") solution to run its newly formed finance company. The complete NFS suite, including Credit Application Processing (CAP), Contract Management System (CMS) and Wholesale Finance System (WFS), would be deployed by Sany Corp. across its vast dealer network as well as its business back office centers across China.

Sany is the largest concrete machinery manufacturer in the world. It is also one of the Global Top 50 Construction Machinery Manufacturers, and one of China's Top 500 Enterprises. Moreover, it has been honored as the most profitable and competitive enterprise in the engineering machinery industry, Top Chinese Enterprise by Forbes, Brand with the Highest Growth Momentum in China, Symbolic Brand in Chinese Engineering Machinery Industry and one of the Top 500 Brands in Asia.

Sany Heavy Industry Co., Ltd, a core subsidiary of Sany Group, which got listed on the Shanghai Stock Exchange on July 3, 2007, was the first Chinese enterprise to successfully realize the non-tradable shares reform and to put its shares into full circulation.

Naeem Ghauri, head of Global Sales and President of NetSol Technologies, Inc. for Europe, commented, "This win is one of many we have in our current pipeline and is a further validation of our China strategy and our NFS value proposition. We have a clear market leadership in this exciting space, which is continuing to grow exponentially in China."

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

Released June 15, 2010