NETSOL TECHNOLOGIES, INC. SUCCESSFULLY COMPLETES IMPLEMENTATION OF LEASESOFT PRODUCT AT DAIMLERCHRYS

Calabasas, CA – October 17 2005 - NetSol Technologies, Inc. (NASDAQ:NTWK), a developer of proprietary software applications and provider of information technology (IT) services, today announced that it has successfully launched a customized LeaseSoft.CMS asset-management software module at DaimlerChrysler Leasing Thailand (DCLT). The LeaseSoft.CMS module is a comprehensive contract activation and management system for managing and maintaining the lifecycle of an asset leasing and financing contract.

"We are pleased to announce the seamless integration and on-time installation of LeaseSoft.CMS at DaimlerChrysler Leasing Thailand," said Salim Ghauri, president of NetSol Technologies, Inc. "DCLT has been a valued NetSol customer since 1996, and the successful implementation of yet another module is further evidence of DaimlerChrysler Leasing Thailand’s confidence in NetSol, as well as of the maturity of the product and expertise of our implementation team. We look forward to a continued and successful relationship with all DCFS companies."

DCLT has been a NetSol customer since 1996, with current installs of NetSol’s CAP (Credit Application Processing – previously Proposal Management) and WFS (Wholesale Finance) systems, as well as the newly-implemented LeaseSoft.CMS module. The original contract, announced in July 2004, provided for the implementation of the LeaseSoft.CMS module, along with ongoing maintenance services. NetSol is the preferred vendor of fixed-rate, contractual professional and IT services for DaimlerChrysler Financial Services AG Germany, with LeaseSoft a preferred asset-based finance software solution.


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), Credit Application Processing (CAP), 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 LeaseSoft web site www.leasesoft.biz.


About DaimlerChrysler Leasing Thailand (DCLT)

DaimlerChrysler Leasing (Thailand) Co., Ltd. is the financial services provider for DaimlerChrysler products and affiliates in Thailand, as well as a growing number of other products and services. It is a member of DaimlerChrysler Financial Services (AG), the financial service arm of DaimlerChrysler (AG), one of the largest industrial conglomerates in Europe.
Within the business line "Automotive," the company offers Hire Purchase, Finance Lease, Operating Lease, and Start Choice to Mercedes-Benz and Chrysler customers in Thailand. Additionally, DCLT provides "Fleet Financing" featuring custom packages for fleet vehicle funding to small, medium, and large corporations for any make or model vehicle.


About NetSol Technologies, Inc.

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 www.netsoltek.com.


Securities Exchange Act of 1934

This release is comprised of inter-related information that must be interpreted in the context of all the information provided; accordingly, care should be exercised not to consider portions of this release out of context. This release is provided in compliance with Commission Regulation FD and contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance, are not statements of historical fact and may be "forward-looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Such statements reflect the current views of NetSol Technologies with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of the underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed or expected. NetSol Technologies does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.

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