SOURCE: NetSol Technologies

March 19, 2008 08:30 ET

NetSol Technologies Announces New LeasePak Vehicle and Equipment Portfolio Module

LeasePak 'Asset Focus Module' Designed to Track Asset Risk and Revenue Performance of Financed Assets

CALABASAS, CA--(Marketwire - March 19, 2008) - NetSol Technologies Inc. ("NetSol") (NASDAQ: NTWK), a multinational provider of IT services and enterprise software to the financial services industry, announced the release of a new LeasePak data management offering. The new LeasePak 'Asset Focus Module' gives vehicle and commercial equipment finance product managers a robust means for tracking the revenue performance of financed assets.

Finance portfolio managers need to measure financial program performance in a variety of ways. Traditionally, they have done so by tracking each individual or aggregated lease or loan contract, any of which could include a number of financed equipment or vehicle assets. The NetSol Asset Focus Module provides finance managers the ability to mitigate risk and measure performance by tracking individual or aggregated assets across multiple contracts and customers.

NetSol CEO and Chairman Najeeb Ghauri states, "NetSol's customers need to measure the ROA (return on asset) of the assets they have financed and to offer their customers similar options for invoicing. We are very excited to be one of the only vendors in the financial services technology sector to offer our software customers the ability to freely choose among contract and asset-based accounting methods with unprecedented flexibility, as dictated by their business requirements and competitive strategies. We expect a very warm reception for these new capabilities from the North American equipment finance industry."

LeasePak is NetSol's core vehicle and commercial equipment portfolio management solution. The Asset Focus Module is currently available for NetSol customers in North America and Australia, and was developed in close collaboration with Fortune 500 customers of NetSol.

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. Click here to join the NetSol Technologies Inc. email distribution list: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.

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