Contract Marks Third Sale of LeaseSoft Product to Significant Vehicle Finance Operation in Chinese Market

LAHORE- NetSol Technologies Ltd. (“NetSol”) (NASDAQ: NTWK), a multinational provider of enterprise software and IT services to the financial services industry, today announced that its Asia Pacific division has signed a contract for the purchase of LeaseSoft, the company’s flagship vehicle portfolio management system, the value of which is expected to exceed $1.5 million. The software was licensed by the China vehicle finance operations of a blue-chip European automotive manufacturer.

LeaseSoft is an end-to-end, modular suite comprised of four software applications. Under terms of this agreement, the customer is purchasing LeaseSoft Retail Finance software with three application modules – Credit Application Processing, Contract Management and Wholesale Finance, as well as receiving full software customization, system implementation, and ongoing maintenance and support services for the product.

Salim Ghauri, chairman and CEO, stated, “This contract marks the third sale of LeaseSoft to a significant vehicle finance operation in the Chinese market. Furthermore, it commences a long-term relationship with one of the most prestigious names in the automotive industry. NetSol is demonstrating that it can and is successfully positioning itself as the premier leasing and finance portfolio management solutions provider worldwide. Given that the Chinese market is still in the nascent stages of development, we believe the LeaseSoft customer base will continue to expand as our sales and market initiatives in this important growth market continue to produce results.”

NetSol has successfully implemented LeaseSoft in the Chinese operations of DaimlerChrysler Auto Finance and Toyota Motor Finance.