NetSol Technologies Announces Improved Financial Performance Outlook With Preliminary Fiscal Fourth Quarter 2009

EMERYVILLE, CA, Jul 14 (MARKET WIRE) --
NetSol Technologies, Inc. "NetSol" (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK), a
U.S. corporation providing global business services and enterprise
application solutions to private and public sector organizations
worldwide, today announced the company's expectations for improved
sequential financial performance for the fiscal fourth quarter of 2009.

Based on recent business activities, the company has significantly
improved visibility and its results:

-- Based on preliminary unaudited results, the Company currently projects
fiscal fourth quarter 2009 sequential revenue growth of between 30 percent
and 35 percent.
-- Improved sequential revenues are expected to have a positive impact on
EBITDA results for the fiscal fourth quarter 2009 and fiscal first quarter
2010.
-- Previously announced comprehensive cost reduction measures are
contributing to improved gross profit performance.
-- Strength in Asia Pacific region includes two recently announced
significant wins in China for licensing of NetSol Financial Suite (NFS)
solutions.
-- Increased traction in public and defense related opportunities include
significant new business with the Government of Sindh.
-- Fiscal first quarter 2010 begins with stronger revenue backlog and
global sales pipeline.

Najeeb Ghauri, NetSol Technologies chairman and chief executive
officer, stated, "Based on preliminary unaudited results for our fiscal
fourth quarter 2009, I am pleased to say we are seeing the positive
impact of our newly focused global sales team and comprehensive cost
reduction measures. These efforts are expected to translate directly into
sequential improvements in our top and bottom line financial results.
NetSol's performance improvements are also being driven by some renewed
strength on the customer demand side, particularly in the Asia Pacific
region as well as among certain E-government contracts. Overall, the
strategic initiatives we put in place to manage the global economic
downturn are yielding material traction, and with a solid global sales
pipeline, we are setting a stronger foundation for NetSol in fiscal 2010."

NetSol currently anticipates reporting its comprehensive fiscal fourth
quarter and full year 2009 financial results in mid September 2009. In
line with the company's regular reporting practices, the earnings
reporting date as well as investor conference call and web cast details
will be announced in advance via a public press release.

About NetSol Technologies, Inc.

NetSol Technologies, Inc. (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK) is a
worldwide provider of global business services and enterprise application
solutions. Since its inception in 1995, NetSol has used its
BestShoring(TM) practices and highly experienced resources in analysis,
development, quality assurance, and implementation to deliver
high-quality, cost-effective solutions. Specialized by industry, these
product and services offerings include credit and finance portfolio
management systems, hospital/healthcare information management systems
(HIMS), SAP consulting and services, custom development, systems
integration, and technical services for the global Financial, Healthcare,
Insurance, Energy, and Technology markets. NetSol's commitment to quality
is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI
(Software Engineering Institute) CMMI (Capability Maturity Model)
Maturity Level 5 assessments, a distinction shared by fewer than 100
companies worldwide. NetSol Technologies' clients include Fortune 500
manufacturers, global automakers, financial institutions, utilities,
technology providers, and government agencies. Headquartered in
Emeryville, California, NetSol Technologies has operations and offices in
Adelaide, Bangkok, Beijing, Lahore, London, and San Pedro Sula.

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

To join the NetSol Technologies, Inc. email communications list, visit:
http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.

NetSol Technologies, Inc. Forward-looking Statement

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:
Investor Relations
Christopher Chu
Grayling
Tel: +1-646-284-9426
Email: christopher.chu@us.grayling.com

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