SOURCE: NetSol Technologies, Inc.

December 06, 2005 09:45 ET

Westrock Advisors, Inc. Reiterates Buy Rating on NetSol Technologies, Inc.

CALABASAS, CA -- (MARKET WIRE) -- December 6, 2005 -- NetSol Technologies, Inc. (NASDAQ: NTWK), a developer of proprietary software applications and provider of information technology (IT) services, today announced Westrock Advisors, Inc. has updated its coverage of the company with a speculative buy rating and has revised its price target of $3.00 to reflect an updated valuation exercise on fiscal 2006 estimates.

Westrock Advisors is a New York-based full service Broker Dealer offering a comprehensive range of high quality financial services for individuals as well as institutional investors. To request a copy of the full report, please contact Don Hunter at 212-922-1995.

The information in this report is provided for general information purposes only and should not be considered an individualized recommendation. All investors are encouraged to use multiple sources of investment information and to actively monitor their holdings. NetSol Technologies or the industry sector discussed may not be a suitable investment for everyone. This report is based on information from a variety of sources and the statistical data is believed to be reliable but in no way is warranted as to accuracy, timeliness, completeness or reliability.

The report and rating are the final opinion of Westrock Advisors, Inc. and does not guarantee that any target price will be met or that the predicted business results will occur. Any and all revenue and earnings estimates and projections assume certain conditions and industry developments, which are subject to change and no guarantee is made as to the suitability or potential value of any investment.

This report is published for informational purposes only and is not to be construed as a solicitation or an offer to buy or sell any security. Opinions expressed are subject to change without notice and Westrock Advisors does not undertake to advise the public, nor is Westrock under any obligation to advise the public as to any changes in its projections or views of the industry or NetSol Technologies. Past information is no guarantee or indication of future results.

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.

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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