SOURCE: NetSol Technologies

November 30, 2007 08:30 ET

NetSol Technologies Announces Marketing Partnership in Greece

Partnership With Leading Greek IT Provider Strengthens NetSol Presence in European IT Services and Enterprise Solution Market

CALABASAS, CA--(Marketwire - November 30, 2007) - NetSol Technologies Inc. ("NetSol") (NASDAQ: NTWK), a multinational provider of IT services and enterprise software to the financial services industry, announced the establishment of a strategic partnership with Real Consulting Information Systems S.A., of Athens, Greece ("Real Consulting S.A."), an IT Consulting and Integration Services firm providing integrated solutions in the fields of ERP Solutions, System Integration and turn-key IT solutions for the private and public sectors in Greece and the adjacent region.

Under the terms of the completed frame agreement, Real Consulting S.A. will partner with NetSol in introducing NetSol's IT services and enterprise solutions into the Greek and adjacent markets. Additionally, the two companies will collaborate on the enhancement of NetSol software offerings to accommodate the commercial requirements of the Greek business environment.

Naeem Ghauri, President of NetSol Technologies Europe, comments, "We are very pleased to announce our partnership with Real Consulting S.A., the leader in IT consulting to the Greek business community and public sector. With this partnership, NetSol has strengthened its global footprint and, with the help of Real Consulting S.A., will further enhance the recognition and competitiveness of our software offerings in the European market."

"We are accustomed to partnering only with world-class providers; the addition of NetSol is a valued partnership to the Real Consulting technology team," commented Real Consulting CEO Prodromos Mavridis. "For us, this new partnership with NetSol Technologies will significantly deepen the resource base we can offer to our customers throughout the Greek and adjacent markets."

Prodromos Mavridis further commented, "Having a world-class CMMI Level-5 partner in NetSol gives us a major competitive advantage as an IT services provider. Additionally, NetSol's deep experience as a provider to the public sector offers a perfect fit for our business model."

About Real Consulting Information Systems S.A.

Real Consulting Information Systems S.A., (a.k.a. Real Consulting S.A.) is an IT Consulting and Integration Services firm with a strong presence in the areas of telecommunications, professional services, manufacturing, financial services, consumer products, retail, and health, as well as in the Greek public sector. Real Consulting S.A. provides services that meet the needs of businesses and organizations in the local market and abroad.

Real Consulting S.A. was established in 2001 in Athens, Greece. The company is a Value Added Reseller of SAP Hellas S.A. and has implemented significant SAP projects in the local market and abroad. In addition, the company is a Microsoft Certified Business Solutions Gold Partner with a long experience in implementing Microsoft Dynamics Nav solutions. Real Consulting S.A. is the first Greek Microsoft partner to be awarded the President's Club Award EMEA in recognition of its growth and volume sales of Business Solutions.

Real Consulting S.A. extends its business activities through the Nicosia-based Real Consulting Ltd. that provides related services in the Cypriot market. Focusing on further expansion abroad, the company participates in the operation of consulting firms in Germany (Real Consulting GmbH) and Romania (Real Consulting S.R.L.).

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