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NetSol Announces Web-Based Point-Of-Service Products Go Live; NetSol's ePOS Leads Industry in Internet Accessible Credit Management Solutions

8 September 2000

NetSol Announces Web-Based Point-Of-Service Products Go Live; NetSol's ePOS Leads Industry in Internet Accessible Credit Management Solutions

    CALABASAS, Calif.--Sept. 8, 2000--NetSol International, Inc. , a global information technology consultant and software developer, today announced that on August 30, 2000, its Web-based Point-of-Sales System (ePOS) and its fully integrated Proposal Management System (PMS) were launched at Tung Yang Leasing Company in Taiwan (TYLC). TYLC, a subsidiary of Daimler Chrysler Financial Services, which has been a NetSol International Point-Of-Service (POS) customer since 1996.
    Salim Ghauri, NetSol International's chief executive officer stated, "By implementing our Web-based credit management system, we have achieved a significant milestone. NetSol has now become one of the few companies in the Far East region offering a browser-based solution for a credit application creation system and we expect this new generation NetSol solution would improve our customers operating efficiencies."
    Ghauri continued, "We anticipate that this successful installation will open many doors. Our marketing partner, the CFS Group, has begun leveraging our achievement. Already, CFS representatives are demonstrating ePOS and PMS advantages worldwide. We believe that each future license will be valued between $250,000 and $500,000, based on size of the customer."
    Dr. Wolf Bay, managing director, Tung Yang Leasing Company, stated "ePOS enhances our negotiating abilities by empowering our sales forces with better management of credit applications at the dealership and front-offices. ePOS will be a very effective tool to build stronger relations with the dealer network of Mercedes-Benz and Chrysler in Taiwan and to render even better service to the customers of TYLC. We believe that NetSol's credit application solution will greatly enhance our process efficiencies and business opportunities."
    NetSol's ePOS is the Web-based front-end application that empowers dealers to submit a credit application on behalf of their customers in an improved and efficient manner. PMS is a back-end workflow engine that enables lenders to complete the credit application process within a few minutes depending upon the customers' credit-worthiness. ePOS is a browser-based Point-of-Service system developed with Java technologies that can be used by automotive dealerships as well as other types of asset based lenders. The product is available both as an Intranet as well as an Internet solution using browser software (e.g., Microsoft Internet Explorer or Netscape). ePOS is multi-lingual, multi-company, N-tier, parameter driven and platform independent. Business parameters and rules are implemented and controlled by PMS. Using ePOS, service representatives create quotations and financing applications for customers, which can be submitted for approval via PMS. After analysis, the proposal is sent back to ePOS with a final decision.
    In March 2000, NetSol and CFS GROUP announced an agreement in which NetSol is the exclusive outsource supplier and preferred developer of CFS Group's software needs and CFS is the sole distributor of NetSol's leasing and finance products worldwide. In addition, the two companies are working towards forming a joint venture to develop and market additional Web based business to business ("B2B") and e-commerce solutions for the global leasing and lending industry. This agreement is expected to be finalized by the end of the year.
    CFS group Executive Chairman Alfred Stein commented "I am very pleased with the progress and co-operation to date between the two companies. The opportunities that we initially saw in the relationship are being crystallized."

    About NetSol International, Inc.

    NetSol is an ISO 9001 certified software developer in the global information technology industry. Through its international team approaching 400 employees, NetSol specializes in developing software, proprietary and asset-based leasing and finance programs, providing IT consulting services, and creating eBusiness and Web-based solutions for its ever-growing list of blue chip customers worldwide.
    NetSol International's software development is completed in Lahore, Pakistan at the Network Solutions (Pvt.) Ltd. Marketing and distribution of its products and services performed by the subsidiaries NetSol (U.K.) Ltd., NetSol (U.S.A.), Inc., and NetSol-Abraxas, Australia. NetSol International's eCommerce initiatives are being accomplished via NetSol eR Inc. (eReady) and SuperNet AG.
    NetSol's commitment to excellence has been shown through its strong and matured quality control certifications such as the internationally recognized ISO 9001. NetSol's product portfolio covers the whole suite of application modules that are needed to run a captive leasing and finance operation. NetSol's proprietary products are used by a number of leading finance and leasing companies worldwide. NetSol's clients include Daimler Chrysler Taiwan, Mercedes Benz Financing Australia, Mercedes Benz Leasing Thailand, CFS Group UK, St. George Bank in Australia, GMAC in Australia and Debis Portfolio Systems in the U.K. To learn more about NetSol International, please visit www.netsol-intl.com.

    Safe Harbor 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 reports 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 speaks 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.