SOURCE: NetSol Technologies, Inc.

November 29, 2006 09:45 ET

NetSolCQ Kicks Off First Quarter With Launch of Three Innovative Solutions for Equipment Finance in the U.K.

Products Deliver Streamlined Processes, Increased Flexibility, and Cost Efficiencies for Commercial Finance

CALABASAS, CA -- (MARKET WIRE) -- November 29, 2006 -- NetSolCQ, the U.K. subsidiary of NetSol Technologies, Inc. (NASDAQ: NTWK), a multinational provider of enterprise software solutions and IT services for commercial finance, has launched three innovative financial services solutions for U.K.-based customers: LeaseSoft Document Management module, LeaseSoft Portal and Evolve.

The LeaseSoft Document Management module has been specially designed as an integrated component for NetSolCQ's flagship portfolio management solutions, LeaseSoft Asset and LeaseSoft Premium. LeaseSoft Document Manager brings improved process automation and enhanced workflow management to the production, distribution and receipt of business documents, speeding turnaround times and reducing errors in the production, delivery and retrieval of documents.

Gary Lowery, Commercial Director of NetSolCQ, stated, "We see a strong demand in the industry and across our customer base for reduced costs and improved efficiencies throughout all business processes. LeaseSoft Document Management module provides a high level of process automation and an opportunity to improve clients' satisfaction. We have already begun delivering this solution to several clients."

Evolve, launched in mid-September of 2006, was designed to provide a cost-effective portfolio management solution for smaller finance companies that provide instalment lending management in the U.K. Evolve has been developed as an out-of-the-box packaged software using the domain expertise from parent application LeaseSoft Asset. Evolve creates and manages agreements for small to medium-sized finance houses throughout the complete finance contract lifecycle. It is cost-effective and time-efficient for smaller finance businesses and is available via a subscription, rental, or a traditional software license agreement.

NetSolCQ recently launched LeaseSoft Portal specifically for the equipment leasing market in the U.K. This innovative web portal enables lenders to offer their business partners a self-service capability for contract origination, proposal management and settlement/upgrade quotations. The LeaseSoft Portal allows lenders to rapidly deploy self-service web applications to business partners, while ensuring that solutions remain consistent, robust, scalable and secure, benefiting both lenders and business partners. Business partners have immediate and secure access to the information they require, while lenders enjoy a reduction in the manual interventions involved in providing this information.

Graham Tarrant, NetSolCQ Director of Product Development, commented, "The portal was designed to support lenders with multiple business partners. With each business partner needing access to different information and services, lenders can now provide service to all of their partners through a single, secure, and multi-faceted web application."

These new products have been well received by the leasing industry in the U.K. and have further increased the strong presence of NetSolCQ in the U.K.'s asset and leasing industry.

About NetSol Technologies, Inc.

NetSol Technologies is a U.S.-based multinational provider of enterprise software solutions and IT services for commercial 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.

The NetSol family of products includes: the LeaseSoft Contract Management System, LeaseSoft Credit Application Processing, LeaseSoft Wholesale Finance System, LeaseSoft Premium Finance System, LeaseSoft EPO system, and the LeasePak system. NetSol clients include: VW Credit Corp, Hyundai IT, City National Bank, BMW, Toyota, Yamaha, Scania Asset Finance, and Investec Asset Finance. NetSol's largest customer: DaimlerChrysler Services, a division of DaimlerChrysler, the world's fifth-largest carmaker, ranks NetSol as a preferred vendor in 40-plus countries.

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

Contact Information


    NetSol Technologies, Inc.
    Andrew Lea
    VP Marketing & Corporate Communications
    111 Anza Blvd., Suite 310
    Burlingame, CA 94010 USA
    Tel: +1 650.348.0650, ext 1171
    Fax: +1 888.730.2527

    Investor Relations:
    McCloud Communications LLC
    Marty Tullio
    Managing Member