NetSol Technologies Completes NFS Implementation With DongZheng Auto Finance

CALABASAS, Calif., May 21, 2015 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a global business services and enterprise application solutions provider, today announced that DongZheng Auto Finance, a joint venture between ZhengTong Auto Services Holding Limited, a major premium branded dealership group in China, and DongFeng Motors Corporation, went live with the NetSol Financial SuiteTM.

"As China's first approved domestic auto finance company with a dealer group, the implementation for DongZheng Auto Finance is an important reference point as other such companies seek approval to enter the market," said Najeeb Ghauri, CEO of NetSol. "Along with potential approval of additional domestic Chinese companies, our addressable market has the potential to expand rapidly as a result of the expected lifting of restrictions for licenses to foreign-invested financial leasing companies.

"We are well positioned to benefit from these trends given our leadership position in the country, with a history of numerous successful implementations," added Ghauri.

NetSol's NFS platform is the benchmark solution for China's asset finance and leasing industry, providing a harmonized solution catering to Chinese legal, regulatory and business requirements.

About NetSol Technologies

NetSol Technologies, Inc. (Nasdaq:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and financing industry. The Company's suite of applications are backed by 40 years of domain expertise and supported by a committed team of more than 1000 professionals placed in eight strategically located support and delivery centers throughout the world.

Forward-Looking Statements

This press release may contain 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 "expects," "anticipates," variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

Investor Contacts:

Matt Sheldon |
(310) 279-5980

Media Contacts:

George Medici |
(310) 279-5968

Source:NetSol Technologies, Inc.