CALABASAS, CA – (MARKET WIRE) – Apr 5, 2005 – NetSol Technologies, Inc. (NasdaqSC:NTWK – News), a developer of proprietary software applications and provider of information technology (IT) services, today announced that it has signed a new LeaseSoft.CMS contract with a Bangkok-based, top five auto finance industry major. Under terms of the contact, valued at more than $2 million, NetSol will customize, implement, and deploy its LeaseSoft.CMS to automate all back office business processes for contract administration and management. The contract also provides for additional revenues through annual maintenance and support, historically priced at up to 15 percent of the initial contract value.
“We are pleased to announce another major breakthrough in establishing LeaseSoft as the leading application for the lease and finance industry,” said NetSol President Salim Ghauri. “Our proven product offering, coupled with increased global brand awareness and a marquee client list, have all contributed to a recent surge in bids for higher valued contracts with more robust functionality. These recent LeaseSoft license agreements and exponential growth in our services business have resulted in a healthy sales backlog. We are anticipating a sizeable hiring increase to support these large contracts, and to continue aggressively pursuing software contracts with Fortune 500 corporations around the globe.”
Due to confidentiality agreements, NetSol has agreed not to publish the aforementioned new client’s brand name. However, the client is one of the five largest captive auto finance companies in the world, operating in more than 50 countries.
About Leasesoft
LeaseSoft is NetSol’s suite of asset-based leasing software, originally commercialized in the third quarter of fiscal 2002. LeaseSoft, an end-to-end solution for the leasing and finance industry, provides four modules: Point of Sale (ePOS), Proposal Management System (PMS), Contract Management System (CMS) and Wholesale Finance System (WFS). These modules support a variety of scenarios, including multinational companies using the local language, multiple assets, multiple distributions, multiple companies and multiple manufacturer environments. The modules are stand-alone systems that can be used independently to address a specific area within an organization or, when used together, they create a fully automated asset-based leasing solution. Through the use of interface programs, all modules have fully customizable interfaces that are easily configured to integrate the “system” with enterprise systems or new applications. Visit the LeaseSoft website http://www.leasesoft.biz
