SOURCE: NetSol Technologies

January 19, 2006 09:45 ET

NetSol Technologies, Inc. Enters Into Multi-Million Dollar LeaseSoft Agreement With a Major Financial Institution

CALABASAS, CA -- (MARKET WIRE) -- January 19, 2006 -- NetSol Technologies, Inc. (NASDAQ: NTWK), a developer of proprietary software applications and provider of information technology (IT) services, announced today that it has finalized a multi-million dollar agreement with a major European financial institution for the installation of its LeaseSoft suite of software solutions developed for the asset-based leasing and finance industry. Due to the competitiveness of the financial industry, a confidentiality agreement was signed and the name of the client can not be disclosed.

The project, which will begin immediately, will also generate incremental revenues over the next five years through additional license fees and annual support agreements.

"Our aggressive sales and branding program has introduced NetSol and its software products and services to new audiences in the European marketplace," commented NetSol Technologies Chairman, Najeeb U. Ghauri. "We are pleased with the traction achieved by our European team and are confident they will continue to capitalize on our new product branding efforts to expand our LeaseSoft customer base in Europe."

About NetSol Technologies, Inc.

NetSol Technologies is an end-to-end solution provider for the lease and finance industry. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., Europe, East Asia and Asia Pacific. NetSol helps its clients identify, evaluate and implement technology solutions to meet their most critical business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective IT services ranging from consulting and application development to systems integration and outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMM (Capability Maturity Model) Level 4 assessment. For more information, visit NetSol Technologies' web site at www.netsoltek.com.

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