SOURCE: NetSol Technologies

July 15, 2005 09:45 ET

NetSol Technologies, Inc. Signs New LeaseSoft Contract With a Top Three Automotive Distributor in Japan

Complete Package Including Software, Integration and Services Provide Revenues Between $250,000 - $500,000

CALABASAS, CA -- (MARKET WIRE) -- July 15, 2005 -- NetSol Technologies, Inc. (NASDAQ: NTWK), a developer of proprietary software applications and provider of information technology (IT) services, today announced that it has signed a new LeaseSoft contract with one of the top three automotive distributors in Japan. Under the terms of the contract, NetSol will implement a customized LeaseSoft Wholesale Finance System (WFS), as well as provide ongoing technical support and services. WFS and the accompanying services provided by NetSol Technologies will produce revenues between $250,000 and $500,000.

NetSol's WFS product has now been successfully implemented in companies located in Korea, Thailand, Australia and Taiwan. According to NetSol's CEO, Naeem Ghauri, this will be the largest installation to date in terms of portfolio dollar size and volume of vehicles managed.

LeaseSoft.WFS

LeaseSoft.WFS automates and manages the floorplan and bailment activities of dealerships through a financing organization. The WFS design is based on the "one asset one loan" concept to facilitate asset tracking and costing. The WFS software suite includes the following applications: Credit Limit, Payment of Loan, Billing and Settlement, Stock Auditing, Online Dealer & Auditor Access and ultimately the Pay-Off function.

About LeaseSoft

LeaseSoft is NetSol's suite of asset-based leasing software, originally commercialized in the third quarter of fiscal 2002. LeaseSoft, an end-to-end solution for the leasing and finance industry, provides four modules: Point of Sale (ePOS), Credit Application Processing (CAP), Contract Management System (CMS) and Wholesale Finance System (WFS). These modules support a variety of scenarios, including multinational companies using the local language, multiple assets, multiple distributions, multiple companies and multiple manufacturer environments. The modules are stand-alone systems that can be used independently to address a specific area within an organization or, when used together, they create a fully automated asset-based leasing solution. Through the use of interface programs, all modules have fully customizable interfaces that are easily configured to integrate the "system" with enterprise systems or new applications. Visit LeaseSoft web site www.leasesoft.biz

About NetSol Technologies, Inc.

NetSol Technologies is a leading 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.

Securities Exchange Act of 1934

This release is comprised of inter-related information that must be interpreted in the context of all the information provided; accordingly, care should be exercised not to consider portions of this release out of context. This release is provided in compliance with Commission Regulation FD and contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance, are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Such statements reflect the current views of NetSol Technologies with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of the underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed or expected. NetSol Technologies does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.

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