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NetSol Technologies, Inc. (NTWK) CEO Najeeb Ghauri Provides Update on Corporate Business Developments

|Includes: NetSol Technologies, Inc. (NTWK)

Netsol Technologies Inc., a leader in providing global business services and enterprise application solutions to various organizations around the world, announced a special update from CEO Najeeb Ghauri in regards to the company’s corporate business developments.

Mr. Ghauri, NetSol’s Chairman and CEO, stated: “We have seen a noticeable increase in activity within Pakistan’s public sector, and its health and private business sectors are also on the rise. As a premier IT company in Pakistan, NetSol has been invited as a pre-qualified company to tender offers for several new projects, and our business development teams are aggressively bidding for these contracts. We expect to periodically update our investors with material developments as we win these bids.”

The Company’s management completed various purchases of NetSol’s stocks recently, which includes 500,000 shares that were obtained in February and March of 2011. Mr. Ghauri commented, “The management team has enhanced its ownership through open market buying and exercise of options, which is reflective of our long-term view and outlook. We exercise options both to improve our shareholdings and also to take advantage of unusually low stock valuation. Our intention is to continue to enhance our ownership, and we have no plans to sell any shares.”

“Our backlog from previous quarters is keeping our sales and delivery teams very busy in the current quarter,” Mr. Ghauri continued. “In addition, we have a number of exciting announcements in the pipeline, and we expect to be able to share several of them with our investors over the next several weeks.”

The company also recently announced its North American launch of LeasePak-SaaS, which is a subscription based lease and loan accounting and portfolio management system delivered via the software-as-a-service (SaaS) deployment model.

NetSol’s LeasePak Enterprise finance management system has been used by global finance teams in banks, independents, and manufacturing captives for more than 25 years. Until now, the system has only been available as licensed software. However, with the launch of LeasePak-SaaS, the broad functionality of the LeasePak system now falls within the budgets of smaller companies, allowing them the flexibility to own the program.

Commenting on the business benefits of the new offering, NetSol’s Chairman and CEO, Najeeb Ghauri, stated, “LeasePak-SaaS will enable equipment and vehicle finance organizations to eliminate the overhead of software licensing, installed systems, dedicated IT resources and desktop maintenance services. Now, finance managers can provide their teams with the many benefits of cloud computing with no compromise in the scalability, functionality, or end-to-end integration of their core portfolio management solution.”

Mr. Ghauri continued, “The SaaS deployment option means that we can provide customers with as much technology as they need, scale their systems as they grow, and enable originators, accounting staff, and managers to use any computer, anywhere, at any time to securely access their information and track asset finance performance.”

NetSol Technologies, Inc. engages in the design and development of software products for the automobile finance and leasing, banking, healthcare, and financial services industries around the world. Additionally, the company offers business intelligence, independent system review, information security, and software process improvement consulting services; maintenance and support, as well as project management services. The company, formerly known as NetSol International Inc., changed its name to NetSol Technologies, Inc. in March of 2002. The company was founded in 1997 and is headquartered in Calabasas, California.

For more information on NetSol Technologies and its products, visit their company website:

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