SOURCE: NetSol Technologies, Inc.

April 12, 2006 09:45 ET

NetSol Technologies LeaseSoft Product Provides Fully Integrated Service Solution for Cathedral Hygiene

CALABASAS, CA -- (MARKET WIRE) -- April 12, 2006 -- NetSol Technologies, Inc. (NASDAQ: NTWK), a developer of proprietary software applications and provider of information technology (IT) services, announced the successful implementation of its LeaseSoft product for the management of Cathedral Hygiene's finance rental agreements and to provide the company's equipment service operations with a fully integrated service solution. The LeaseSoft products are priced from $300,000 to $1 million per module.

The service module added to LeaseSoft provides functionality to manage teams of service engineers, including the allocation of tasks, time management and distribution of job sheets via fax or email. It provides a schedule of all service and maintenance tasks grouped appropriately for efficient engineer allocation and tracks the rented assets. This new functionality, seamlessly built into the LeaseSoft financial solution, provides a fully integrated rental, service and engineer management solution and replaces two separate service and rental systems.

"We are pleased to deliver a solution that integrates Cathedral's sales, service and finance capabilities and that will also provide an ideal platform to explore other leading-edge technologies to further improve service levels," commented NetSolCQ project Sponsor Ivor Tarrant.

The solution, based on the NetSol LeaseSoft Asset Finance system, demonstrates the flexibility of a LeaseSoft tailored solution and presents new and exciting opportunities for NetSol to provide integrated solutions to other service-oriented businesses across a variety of sectors.

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

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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