NetSol Technologies Signs New Frame Agreement With Daimler Financial Services

CALABASAS, CA, Jul 31 (MARKET WIRE) --
NetSol Technologies, Inc. ("NetSol") (NASDAQ: NTWK) (DIFX: NTWK), a
worldwide provider of global business services and enterprise application
solutions, today announced that NetSol's Africa and Asia Pacific/Middle
East Division has signed a new frame agreement with Daimler Financial
Services AG Germany, to service Daimler's needs in Africa and the Asia
Pacific region. According to the frame agreement, Daimler Financial
Services will extend its scope of consulting services, development,
implementation, customization, and maintenance of software from NetSol on
the basis of the new frame agreement.

The frame agreement outlines the implementation of basic and general
provisions, regulations, and processes of existing and all future
individual agreements for the delivery and development of software or
services to Daimler Financial Services. The newly signed frame agreement
supersedes all earlier agreements with Daimler Financial Services, of
which the last agreement renewal was signed in 2004 for use of NetSol's
flagship LeaseSoft solution. To date, NetSol is already serving the needs
of Daimler Financial Services and its affiliated companies in eight
countries in the Asia Pacific region.

Commenting on the announcement, Mr. Salim Ghauri, President Asia Pacific
Division stated, "We are extremely pleased to further expand our
relationship as a Global Business Services and LeaseSoft software provider
to Daimler Financial Services, who has been a valued and long standing
global customer since 1996. The signing of this latest frame agreement
demonstrates the level of confidence the Daimler Financial Services team
has in our ability to provide world class software, services, and
implementation across international markets. NetSol's evolution and
enhancement of our products and services portfolio has provided a strong
platform upon which to meet the changing needs and operating landscape of
our key customers such as Daimler Financial Services. We are very grateful
to Daimler and Mercedes Benz for their continued belief in NetSol's
commitment to providing a best-of-breed product for its automotive leasing
needs."

NetSol's LeaseSoft solution is a premium suite of asset-based leasing
software that improves business processes by providing fast and convenient
solutions capable of dealing with multi-asset and multi-lingual
environments. LeaseSoft solutions are available for customers in motor
finance, asset finance, consumer finance, real estate finance, and loan
finance.

About NetSol Technologies, Inc.

NetSol Technologies (NASDAQ: NTWK) (DIFX: NTWK) is a worldwide provider of
global business services and enterprise application solutions. NetSol uses
its BestShoring(TM) practices and highly-experienced resources in
analysis, development, quality assurance, and implementation to deliver
high-quality, cost-effective solutions. Organized into specialized
practices, these product and services offerings include portfolio
management systems for the financial services industry, consulting,
custom development, systems integration, and technical services for the
global Healthcare, Insurance, Real Estate, and Technology markets.
NetSol's commitment to quality is demonstrated by its achievement of the
ISO 9001, ISO 279001, and SEI (Software Engineering Institute) CMMI
(Capability Maturity Model) Level 5 assessments, a distinction shared by
fewer than 100 companies worldwide. NetSol Technologies' clients include
Fortune 500 manufacturers, global automakers, financial institutions,
technology providers, and governmental agencies. Headquartered in
Calabasas, California, NetSol Technologies has operations and offices in
London, San Francisco, Sydney, Beijing, Bangkok, and Lahore. To join the
NetSol Technologies, Inc. email distribution list please visit:
http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.

To learn more about NetSol Technologies, Inc., visit www.netsoltech.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to the
development of the Company's products and services and future operation
results, including statements regarding the Company that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those projected. The words "believe," "expect,"
"anticipate," "intend," variations of such words, and similar expressions,
identify forward looking statements, but their absence does not mean that
the statement is not forward looking. These statements are not guarantees
of future performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Factors that could affect the
Company's actual results include the progress and costs of the development
of products and services and the timing of the market acceptance.

Contacts:

NetSol Technologies, Inc.
Tina Gilger
Chief Financial Officer
Tel: +1 818-222-9195, x112

Investor Relations
Christopher Chu
Grayling Global
Tel: +1-646-284-9426
Email: cchu@hfgcg.com

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