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MENAFN Press - 10/12/2009

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(MENAFN Press) NetSol Technologies, Inc. NetSol(NASDAQ CM: 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 was awarded a major software and IT services contract with a new joint venture auto finance company based in China. Under the terms of the contract, NetSol will provide full life-cycle processing for the customers auto finance business through the NetSol Financial SuiteTM (NFS). NetSols NFS solution provides asset finance companies a state-of-the-art tool to manage business process, work flow framework as well as complete portfolio management and processing. The value of the contract is in excess of 2 million over the life of the agreement, including customization, implementation, maintenance and support.

Naeem Ghauri, NetSol Technologies, Inc. president and head of global sales commented, The Chinese automotive finance sector is growing exponentially and our NFS solution is on the cutting edge of this growth. As we previously announced, we are aggressively expanding our Chinese presence to support existing as well as new business opportunities. We expect the growth in our China business will help in significantly enhancing our revenues and earnings over the previous fiscal year.


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