NetSol International's Expansion Plans Validated by Similar Move by ABN AMRO; Lahore, Pakistan May Be a ``Silicon Valley'' in the Making in South East Asia.

Business Editors and High-Tech Writers

CALABASAS, Calif.--(BUSINESS WIRE)--Jan. 10, 2000

NetSol International Inc. (Nasdaq:NTWK), which announced Tuesday, Jan. 4, 2000, that it has broken ground on a major new technology campus in Lahore, Pakistan, reported that its plans to make this long-term investment in the Pakistan IT community have been validated by a report today by "IT Pakistan," a newsletter published by the Pakistan High Commission Singapore.

The report announced that ABN AMRO Holding NV (NYSE:ABN), one of the largest global commercial and investment banks in the world, with more than 2,600 branch offices located in 75 countries worldwide, has selected Lahore as the location for the establishment of its new international IT development, research and consultancy center. According to the report, ABN AMRO will invest $200 million in its Pakistan IT unit, which will employ nearly 1,000 software engineers.

"The entry by ABN AMRO into the Pakistan market demonstrates the confidence of multi-nationals to invest in the Pakistan IT industry," stated Najeeb Ghauri, president of NetSol International Inc.

"This action further substantiates NetSol's strong commitment and great confidence in the human resources of the country supporting its plan for global expansion in the IT industry. NetSol's decision to continue to invest its resources in Pakistan is based on the growing pool of quality engineers and technicians resulting from its education system.

"We are confident that we have the technology resources and key management personnel necessary to support the company's long-term objectives through our international business model," said Ghauri.

NetSol International Inc. previously announced that its new technology campus will reflect the careful consideration and research of the rewarding benefits of this location in Pakistan.

This tremendous facility and site location affords NetSol superior opportunities to carry out the company's continued global expansion strategy of providing comprehensive products and services in the ever-expanding e-commerce and information technology industries. Upon completion, NetSol's technology campus will accommodate up to 3,000 employees.

"Pakistan represents an enormous market within the IT industry. We believe NetSol has the opportunity to be among the first major e-commerce, ISP and IT players in this growing economic region. Moreover, Lahore can be considered as a new-sprung, mini Silicon Valley in the making, for the South East Asia region," said Ghauri.

NetSol, with new corporate headquarters at 5000 N. Pkwy Calabasas, Suite 202, Calabasas is a leading software developer in the global information technology industry. Through its international team of more than 200 software engineers, NetSol specializes in creating e-commerce and Web-based solutions for its ever-growing list of blue chip customers worldwide.

Its commitment to excellence has been shown through its strong and matured quality control certifications such as the internationally recognized ISO 9001. NetSol has a proven offshore development model that has delivered a number of complex business applications for its customers.

Its revenue base is 100 percent dollar-based whereas its cost base is 50 percent Rupee based, giving it the ability to sell in dollars and buy in Rupees. NetSol's product portfolio covers the whole suite of application modules that are needed to run a captive leasing and finance operation. NetSol's proprietary products are used by a number of leading finance and leasing companies worldwide.

For further information, visit the company's Investor Relations Web site: www.netsol-intl.com.

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The foregoing news release may include numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to product development, business prospects and development of a commercial market for technological advances are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.