SOURCE: NetSol Technologies

August 12, 2008 08:30 ET

Al-Amthal Leasing Goes Live With NetSol Technologies' LeaseSoft Solution

CALABASAS, CA--(Marketwire - August 12, 2008) - NetSol Technologies, Inc. ("NetSol") (NASDAQ: NTWK) (DIFX: NTWK), a worldwide provider of global business services and enterprise application solutions, today announced that Al-Amthal Leasing, one of the largest leasing companies of Saudi Arabia, has gone live with NetSol's LeaseSoft Retail Suite, comprising of the LeaseSoft Credit Application Processing System (CAP), and LeaseSoft Contract Management System (CMS). With this implementation, Al-Amthal's complete retail leasing management system is now run with LeaseSoft solutions. The NetSol LeaseSoft Retail Suite is a key product offering within the NetSol Financial Suite (NFS) of products.

With this implementation LeaseSoft has entered the Middle East market; and is completely Middle East compatible. The LeaseSoft product for the region uses Arabic interfaces, lunar calendar, and has the ability to handle Islamic shariah based financial products.

Commenting on the occasion, Mr. Salim Ghauri, President Asia Pacific and Middle East Region, stated, "LeaseSoft is already positioned as the market leader in the Asia Pacific. Now, with this implementation, we are moving towards the Middle East market as well. We are proud to be associated with one of the biggest names in the Saudi Leasing industry, and look forward to more implementations in the Middle East in the near future."

NetSol's LeaseSoft solution is a premium suite of asset-based leasing software that improves business processes by providing fast and convenient solutions capable of dealing with multi-asset and multi-lingual environments. LeaseSoft solutions are available for customers in motor finance, asset finance, consumer finance, real estate finance and loan finance.

About NetSol Technologies Inc.

NetSol Technologies (NASDAQ: NTWK) (DIFX: NTWK) is a worldwide provider of global business services and enterprise application solutions. NetSol uses its BestShoring™ practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Organized into specialized practices, these product and services offerings include portfolio management systems for the financial services industry, consulting, custom development, systems integration, and technical services for the global Healthcare, Insurance, Real Estate, and Technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 279001, 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 500 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in London, San Francisco, Sydney, Beijing, Bangkok, and Lahore. To join the NetSol Technologies Inc. email distribution list please visit: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.

To learn more about NetSol Technologies Inc, visit www.netsoltech.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
    Grayling Global
    Tel: +1-646-284-9426
    Email: cchu@hfgcg.com