SOURCE: NetSol Technologies, Inc.

October 13, 2006 09:00 ET

NetSol Signs Consulting Agreement With Marshall S. Cogan

Renowned Wall Street Figure to Provide Global Business Development Expertise

CALABASAS, CA -- (MARKET WIRE) -- October 13, 2006 --NetSol Technologies, Inc. (NASDAQ: NTWK), a U.S.-based, multinational provider of enterprise software and services for commercial finance, today announced that Marshall S. Cogan has entered into a consulting agreement to assist the company with its global business development strategy.

"Marshall S. Cogan is a respected name on Wall Street and his excellent reputation is known by business leaders around the world," said Najeeb U. Ghauri, NetSol Chairman and CEO. "With NetSol's advance from a regional business to a global solutions provider, I am delighted that Marshall's depth of experience will now be available to our management team as we pursue our strategic business goals. His financial expertise with Fortune 500 companies and top tier international companies will benefit our interests. His established contacts with leading banking and financing houses will also play a significant role in the launch of NetSol's inBanking product, which is currently under development."

Mr. Cogan received his M.B.A. from the Harvard University School of Business Administration. A military veteran, he worked at various financial institutions as a securities analyst throughout his early career, was a Partner in Charge of Institutional Research, and an investment banker.

Through the 1980s and 1990s, Mr. Cogan served as a director at numerous publicly traded companies and held the position of Chairman and CEO at several firms, including UnitedAuto Group. He is currently a Senior Director and Strategist with Ener 1 Group and serves as Chairman of the Board at Greystone Logistics. Mr. Cogan is a Trustee of the New York University Hospital and maintains private offices in New York City. Additionally, Mr. Cogan was the founder of UnitedAuto Group, Foamex International and senior partner of Cogan, Berlind, Weill & Levitt, predecessor to Shearson, Lehman, AXP.

"I am confident that I can assist NetSol in attaining its goal of becoming the leading provider of end-to-end software solutions to the global equipment financing community," said Cogan. "I look forward to working with NetSol's management as they refine their business development programs within their three newly created regions, and making introductions to key individuals at targeted companies around the world."

About NetSol Technologies, Inc.

NetSol Technologies is a U.S.-based multinational provider of enterprise software and services for commercial finance. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., Europe, East Asia and Asia Pacific, including: London, Los Angeles, San Francisco, Sydney, Beijing, Toronto, and Lahore, Pakistan.

The NetSol family of products includes: the LeaseSoft Contract Management System, LeaseSoft Credit Application Processing, LeaseSoft Wholesale Finance System, LeaseSoft Premium Finance System, LeaseSoft EPO system, and the LeasePak system. NetSol clients include: Motorola, CitiGroup, BMW, Toyota, Yamaha, Quest Communications, and Investec. NetSol's largest customer: DaimlerChrysler Services, a division of DaimlerChrysler, the world's fifth-largest carmaker, ranks NetSol as a preferred vendor in 40-plus countries.

NetSol Technologies helps its clients identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol Technologies delivers high-quality, cost-effective equipment finance portfolio management solutions and IT services ranging from consulting and application development to systems integration and outsourcing. NetSol Technologies' commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMl (Capability Maturity Model) Level 5 assessment. For more information, visit NetSol Technologies' web site at

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