NetSol Scores New Contracts Valued at Over $3 Million as Major Automotive Finance Company Invests in NetSol Financial Suite(TM)

Download as PDF

CALABASAS, Calif., May 27, 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 it has secured two major projects worth over $3 million to implement its NetSol Financial Suite (NFS)(TM) Contract Management System (CMS) with a major international automotive manufacturer's captive finance company in the Asia-Pacific Region.

The contract structure provides significant upfront as well as recurring revenue components. NetSol's NFS solution will fully automate the customer's financing business, providing improved operational efficiencies, enhanced contract lifecycle management, increased financial visibility, and quick return on investment.

Naeem Ghauri, Head of Global Sales of NetSol and President of NetSol Technologies Europe, Ltd., commented: "Emerging and mature markets in Asia Pacific are driving our recovery with these new contract wins. Our visibility in this dynamic region continues to grow and we see our access to the market increasing with each new win. Currently, NetSol is positioned ahead of its competitors to benefit from the growth in the APAC Automotive Finance sector."

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.

To join the NetSol Technologies, Inc. email communications list, visit:

http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0

The NetSol Technologies, Inc. logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=7396

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:
          Chris Schilling
          800-733-2447, Ext. 131
          407-644-4256, Ext. 131
          [email protected]
          http://www.redchip.com

Released May 27, 2010