SOURCE: NetSol Technologies

November 01, 2007 08:30 ET

BMW Financial Services Hong Kong Ltd. Goes Live With NetSol Technologies' LeaseSoft Solution

NetSol's LeaseSoft Offering the De Facto Standard for Vehicle Finance Accounting and Portfolio Management System in the Region

CALABASAS, CA--(Marketwire - November 1, 2007) - NetSol Technologies Inc. ("NetSol") (NASDAQ: NTWK), a multinational provider of IT services and enterprise software to the financial services industry, announced today that its Asia-Pacific division has successfully implemented its LeaseSoft retail product suite for BMW Financial Services Hong Kong Ltd. BMW Financial Services Hong Kong Ltd. has gone live with the NetSol's LeaseSoft solution including the LeaseSoft Contract Management System (CMS) and Credit Application System (CAP) components.

Mr. Najeeb Ghauri, chairman and CEO, commented, "We commend the efforts of our Asia-Pacific division in becoming the de facto standard for vehicle finance accounting and portfolio management systems in the region. LeaseSoft is the premier software suite for automotive finance in the Asia-Pacific region. We anticipate that this mission critical application has the potential to manage all of BMW Financial Services' expanding business in Hong Kong. We look forward to working with BMW and implementing applications to provide fast and convenient solutions for their most sophisticated vehicle finance and leasing software needs."

About NetSol Technologies Inc.

NetSol Technologies (NASDAQ: NTWK) is a multinational provider of IT services and enterprise solutions to the financial services industry. By utilizing its worldwide IT design, development, quality assurance (QA), and project management resources, NetSol delivers high-quality, cost-effective portfolio management solutions for equipment and vehicle finance, as well as IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both the ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 50 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and/or offices in London, San Francisco, Adelaide, Beijing, Bangkok and Lahore, Pakistan.

To learn more about NetSol Technologies Inc, visit www.netsoltek.com.

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, 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.

Contact Information

  • Contacts:

    NetSol Technologies, Inc.
    Tina Gilger
    Chief Financial Officer
    Tel: +1 818-222-9195, x112

    Investor Relations
    Christopher Chu
    The Global Consulting Group
    Tel: +1-646-284-9426
    Email: cchu@hfgcg.com