NetSol Technologies Signs $16M Contract to Implement NFS Ascent(TM)

Solution to be Deployed Across 5,000+ Concurrent System Users

CALABASAS, Calif., Aug. 27, 2014  NetSol Technologies, Inc. (NTWK), a global business services and enterprise application solutions provider, today announced it has signed an agreement valued at more than $16 million to implement NFS Ascent(TM), the company's next-generation software platform.

The implementation, with a major multi-finance group in Asia, will fully automate all finance front and back office operations, while managing a portfolio of nearly two million contracts, serving more than 5,000 concurrent users. The name of the client was withheld per a non-disclosure agreement.

"This is a major win for NFS Ascent and we are extremely excited to be the solution partner for such a high volume and iconic finance business," said Naeem Ghauri, president of global sales for NetSol. "NFS Ascent is designed to improve productivity, performance and responsiveness, while seamlessly integrating into a customer's current technology framework and infrastructure."

The implementation is scheduled to be completed within the next 18 months, with the first phase scheduled to go live in February 2015. License and services revenue will generate more than $10 million in revenues. In addition, the five-year cost of ownership, including maintenance and support, brings the contract value to more than $16 million.

About NFS Ascent(TM)

NFS Ascent(TM) serves asset, auto captive and non-captive businesses globally. Designed as part of a full business platform for maximum flexibility and customization, NFS Ascent can be used in multinational, multi-company, multi-asset, multi-lingual, multi-distributor and multi-manufacturer environments. Each application within NFS Ascent is a complete solution in itself and can be used independently to address specific areas of the leasing/financing cycle -- or collectively, as an end-to-end solution, covering the full leasing and finance cycle from quotation origination through end of contract at the retail and wholesale levels. More information about NFS Ascent can be found by visiting: http://ascent.netsoltech.com.

About NetSol Technologies, Inc.

NetSol Technologies, Inc. (NTWK) is a worldwide provider of global IT and enterprise application solutions. Since its inception in 1995, NetSol has used its BestShoring(TM) practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Specialized by industry, these product and service offerings include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global financial, leasing, insurance, energy, and technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by 162 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in Alameda, Adelaide, Bangkok, Beijing, Karachi, Lahore, London, and Riyadh.

To learn more about NetSol, visit www.netsoltech.com.

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