NetSol Wins Software Integration Project in Australia

    CALABASAS, Calif.--Jan. 18, 2002--NetSol International, Inc. , a software development company announced today that its Australian subsidiary has signed a software development agreement with Aussie Car Loans in Australia, to integrate their back office systems with the company's Web based front end.
    Aussie Car Loan's CEO, Mr. Tony Salatino, said, "Our Web presence brings in the business; our customers send finance and leasing applications to us via the Web. The new software would allow a seamless integration of the incoming Web data with a number of proprietary systems. NetSol has been one of the major players in the Australian car finance software market over an extended period of time and they were certainly the right company to undertake this Integration Project."
    Fred Firth, Managing Director of NetSol's Australian subsidiary, based in Adelaide, South Australia said, "We will shortly deliver a software package to Aussie Car Loans that will strip the data from any kind of Web based finance applications and integrate it automatically into the relevant finance company's systems for further processing."

    About NetSol International, Inc.

    NetSol International, Inc. is a global software developer and information technology consultant to blue-chip corporations worldwide. The Company has developed a complete suite of products for the finance and leasing industry. The entire suite is the first end-to-end solution that encapsulates the core business requirements of any type of finance or leasing company. The Company employs over 250 software developers, engineers, and marketers worldwide.

    About Aussie Car Loans

    Aussie Car Loans has carved out a niche as the leader of a growing number of Australian boutique finance companies, focused on finding the best deal for their Internet clients. The Aussie Car Loan Web site http://www.aussiecarloans.com.au provides useful advice and tools to calculate the best finance and insurance deal for the on-line applicant. The site also includes a secure, on-line application facility.

    Forward Looking Statement

    This release contains 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 of those products and services. A more detailed description of certain factors that could affect actual results include those factors discussed in the Company's filings with the United States Securities and Exchange Commission, including its annual report on Form 10-KSB and quarterly report on Form 10-QSB. NetSol International, Inc. undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrences of unanticipated events. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only as of the date of this release. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.