SOURCE: NetSol Technologies, Inc.

August 24, 2006 09:40 ET

NetSol Technologies' U.S. Operations CEO Elected to Equipment Leasing and Finance Foundation Board of Trustees

CALABASAS, CA -- (MARKET WIRE) -- August 24, 2006 -- NetSol Technologies, Inc. (NASDAQ: NTWK), a U.S.-based, multinational provider of enterprise software and services for equipment finance, today announced the election of John McCue to the Equipment Leasing and Finance Foundation Board of Trustees. John McCue is the CEO of NetSol Technologies' U.S. Operations and the CEO and founder of Burlingame, Calif.-based McCue Systems, a U.S. division of NetSol Technologies, Inc.

The Equipment Leasing and Finance Foundation conducts and commissions research by academics and industry consultants to provide credible, unbiased future-focused research on the equipment lease finance industry which is currently estimated to be a $250 billion industry in North America. The Foundation is guided by its Board of Trustees, a group of 18 highly respected business and academic leaders, representing independent leasing companies, bank lessors, financial organizations, consultants, service providers, and universities. The addition of Mr. McCue will provide the Board with the added expertise of a technology leader from the service provider sector.

"We are delighted to welcome John McCue to our Board of Trustees," said Foundation Director Lisa Levine. "John is one of the best-known and most respected leaders in our industry and brings to the Foundation Board an exceptional awareness of the Association's concerns and priorities."

"This is a very special honor and I welcome the chance to join this very distinguished group of equipment leasing visionaries," commented McCue. "As a contributor to the Foundation's State of the Industry Reports, I have been an active supporter of the Foundation for many years. I will now have the opportunity to work more closely with this excellent group."

About The Equipment Leasing and Finance Foundation

For more than 17 years, the Equipment Leasing and Finance Foundation, a national non-profit organization, has supported ongoing research within the equipment lease financing industry. The Foundation works directly with industry consultants and academics to conduct research. Annually, the Foundation provides research grants for approved studies. To date, the Foundation has funded more than $1.2 million in research grants. For information on the Foundation visit:

About NetSol Technologies, Inc.

NetSol Technologies is a U.S.-based multinational provider of enterprise software and services for equipment finance. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., Europe, East Asia and Asia Pacific, including London, Los Angeles, San Francisco, Sydney, Beijing, Toronto, and Lahore, Pakistan.

NetSol Technologies helps its clients identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol Technologies delivers high-quality, cost-effective equipment finance portfolio management solutions and IT services ranging from consulting and application development to systems integration and outsourcing. NetSol Technologies' commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMl (Capability Maturity Model) Level 5 assessment. For more information, visit NetSol Technologies' web site at

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