NETSOL TECHNOLOGIES, INC.,  (Nasdaq/SC: NTWK)

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We know that many of you are following Netsol Technologies closely. It continues to trade briskly after a dramatic rise in price over the past few months.  Netsol had some great news yesterday that we knew you would want to know about.  
Please read on!
 

*NEWS*  FROM NETSOL

         
Press Release 
Source:NetSol Technologies 
Thursday November 6, 11:00 am ET 

CALABASAS, CA--(MARKET WIRE)--Nov 6, 2003 -- NetSol Technologies, Inc. (NasdaqSC:NTWK - News), a developer of proprietary software applications and information technology services, today announced that it has signed a Master Consulting Agreement with Seattle-based CapitalStream® to provide a wide array of IT services. Established in 1995, CapitalStream develops financial front office automation solutions that transform paper-based, stand-alone operations into integrated, streamlined finance supply chains. CapitalStream's impressive list of customers includes Bank of America, National Bank of Canada, Merrill Lynch and Bank of the West. Under the terms of the agreement, NetSol will provide the following services to CapitalStream:

--  Software configuration and implementation services
--  Project management
--  Assistance in product quality assurance and testing
--  Product deployment and integration for CapitalStream's FinanceCenter solution designed for the banking and financial services industry.

The value for the initial phase of the agreement would be accretive to NetSol's earnings for fiscal 2004. According to NetSol CEO Naeem Ghauri, "This new contract further supports our previous guidance provided on October 9, 2003 for expected revenue growth of between 60 to 70 percent for fiscal 2004."

Within the next four weeks, NetSol will deploy a team of ten project managers and consultants to CapitalStream to receive in-depth training on FinanceCenter. "We expect the team to increase to approximately twenty on-site NetSol project managers and consultants within the next six months, as we begin providing onsite implementation support to CapitalStream customers," said NetSol CEO Naeem Ghauri. "CapitalStream and NetSol are investigating opportunities for NetSol to enhance and broaden CapitalStream's product quality assurance and performance testing in a low cost outsource model."

"NetSol was selected as one of our implementation partners, based on their domain expertise in the financial services marketplace," said CapitalStream CEO and President, Kevin Riegelsberger. "They understand our marketplace and we have complementary software solutions that meet the diverse needs of our target markets. Through our relationship with NetSol we anticipate significant cost benefits for both CapitalStream and our customers -- adding to our record growth and continuing to build momentum for front office automation solutions."

"This agreement forges an important partnership as both CapitalStream and NetSol are experts in the leasing and financial services domain," commented NetSol USA President Mark Caton. "Our off-shore development and information technology model combined with our industry expertise will provide CapitalStream customers with products and services that are cost-effective and meet the highest SEI Level 3 standards for quality, as established by the Carnegie Mellon Software Engineering Institute."

About CapitalStream

Established in 1995, CapitalStream develops financial front office automation solutions that enable banks and finance companies to transform paper-based, stand-alone operations into integrated, streamlined finance supply chains. CapitalStream solutions streamline application processing, deal structuring, credit analysis and document generation to rapidly originate leases, loans, lines and cards. As an established industry leader, CapitalStream has helped many small business lending, equipment finance and commercial lending operations to improve relationships with customers and partners, streamline operations, reduce risk and achieve significant revenue growth. For more information, visit CapitalStream's Web site at www.capitalstream.com.

About NetSol Technologies, Inc.

NetSol Technologies is a leading 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 has been delivering high-quality, cost-effective IT services ranging from consulting and application development to systems integration and outsourcing for years. NetSol's commitment to quality is demonstrated by its achieving both ISO 9001 and SEI (Software Engineering Institute) CMM (Capability Maturity Model) Level 3 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, assumption 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.

NetSol Technologies:
Najeeb U. Ghauri, Chairman
(818) 222-9195
najeeb@netsoltek.com

McCloud Communications LLC
Marty Tullio
(949) 566-9860
marty@mccloudcommunications.com

Source: NetSol Technologies Inc.   
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NETSOL PRODUCTS & SERVICES

LeaseSoft is engineered with n-Tier Architecture standard to ensure system scalability, flexibility, customization and enhanced performance.  LeaseSoft was developed over a six-year period and contains a combination of 60 modules combined into four major applications:

CAC (Credit Application Creation System) is a web-based point-of-sale system used by dealerships and other outlets.

CAM (Contract Activation & Management System) provides comprehensive business users to effectively manage and maintain a contract with the most comprehensive details throughout its life cycle.

WFS (Wholesale Finance System) automates and manages the Whole Sale Finance activities of a finance company.

CAP (Credit Application Processing System) provides finance/leasing companies with the ability to quickly assess the worthiness of an applicant applying for a loan or a lease.

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