NetSol to Establish Office in Brazil, Leverage Presence of
                           Brasilinvest

CALABASAS, Calif., Aug. 22, 2011 (GLOBE NEWSWIRE) -- NetSol
Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and
enterprise application solutions, today announced it has formalized its
joint venture agreement with Brasilinvest Group, a private business
development company that has served as a "banque d'affaires" or
"merchant bank" based in Brazil with a significant worldwide presence.
The joint venture company will set up its office in the Mario Garnero
Center in the Sao Paulo Financial district.

The terms of the agreement, pursuant to the Memorandum of Understanding
("MOU") signed in May 2011, call for a newly created company of which
NetSol will own 55 percent and Brasilinvest 45 percent. The company's
Sao Paulo base will have approximately 15 to 50 employees by the end of
the first half of 2012, depending upon client engagements and contract
wins.

"Brazil represents a significant opportunity for NetSol, and partnering
with a well-established company provides a turnkey solution for tapping
into this potentially lucrative marketplace," said Naeem Ghauri,
President Americas and Europe. "Additionally, establishing a presence
in Brazil and Latin America as a whole, dovetails with our strategy of
diversifying NetSol's global footprint and continuing to provide
close-proximity service and development centers for customers around
the world."

Ghauri added: "We see Brazil as another China in the making for
NetSol's NFS solution for the asset and auto finance and leasing
markets in this rapidly developing economy. We believe we will benefit
greatly from Brasilinvest's deep reach into the automotive and
financial sector in Brazil."

For more than three decades, Brasilinvest has provided development
services for businesses across sectors, including automotive,
financial, agriculture and utilities. Ghauri said these sectors are all
targets for NetSol's leasing and finance solutions, in addition to the
company's other customized IT offerings.

"This is a mutually beneficial partnership in that Brasilinvest is able
provide its business partners with access to superior, yet
cost-effective IT solutions, and NetSol has a home in South America,"
said Mario Garnero, founder and chairman of Brasilinvest. "Now that our
joint venture agreement is finalized, we can officially move forward
and do what we do best -- make introductions and establish long-term
relationships with businesses in one of the world's most burgeoning
economies."

About NetSol Technologies

NetSol Technologies, Inc. (www.netsoltech.com) is a worldwide provider
of global IT and enterprise application solutions that 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.
Headquartered in Calabasas, Calif., NetSol's product and services
offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI
(Software Engineering Institute) CMMI (Capability Maturity Model)
Maturity Level 5 assessments, a distinction shared by only 178
companies worldwide. The company's clients include Fortune 500
manufacturers, global automakers, financial institutions, utilities,
technology providers, and government agencies. Netsol has delivery and
support locations in San Francisco, London, Beijing, Bangkok, Lahore,
Adelaide and Riyadh.

Investors can receive news releases and invitations to special events
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http://bit.ly/NetSol_Investor_Signup_Form.

The NetSol Technologies, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9832

About Brasilinvest Group

The Brasilinvest Group was founded in 1975 by Brazilian business leader
Mario Garnero. Based in Sao Paulo, Brazil, Brasilinvest is the
country's first private development agency. From its inception,
Brasilinvest has played the role of a classic "banque d'affaires", a
modern-day merchant bank. Along with 80 partners in 16 different
countries, the Group has already coordinated, in Brazil and abroad,
projects that exceed US$ 4 billion. For more information about
Brasilinvest, please visit
http://www.brasilinvest.com.br/english/brasilinvest.asp.

Forward-Looking Statements

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the development of the Company's products and services and future
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CONTACT: PondelWilkinson Inc.
         Evan Pondel (310) 279-5973
         investors@netsoltech.com