NetSol Technologies, Inc. Buys Stock on the Open Market

Calabasas: NetSol Technologies, Inc. (NASDAQ:NTWK), a developer of proprietary software applications and provider of information technology (IT) services, has announced that its founders are purchasing up to 75,000 shares of the company's common stock on the open market.
According to NetSol Chairman Najeeb U. Ghauri, management believes the current stock price does not reflect the significant progress being made by the company which includes double digit revenue growth, seven quarters of profitability and its recent expansion into the US market through the June 2006 acquisition of California-based McCue Systems, a well known provider of software solutions to the global asset leasing industry.
NetSol Technologies is an end-to-end solution provider for the lease and finance industry. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., Europe, East Asia and Asia Pacific. NetSol helps its clients identify, evaluate and implement technology solutions to meet their most critical business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective IT services ranging from consulting and application development to systems integration and outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMM (Capability Maturity Model) Level 4 assessment. For more information, visit NetSol Technologies' web site at



Editor: Akhtar M. Faruqui
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