NetSol International Appointed Software Integrator for 9th South Asian Federation Games.

Business Editors/Technology Writers

CALABASAS, Calif.--(BUSINESS WIRE)--May 31, 2001

NetSol International, Inc. (NASDAQ: NTWK), today announced it has been appointed as the official software integrator for the upcoming South Asian Federation (SAF) Games, which will be held in Islamabad, Pakistan, from October 6 to October 15, 2001. NetSol is providing its services as supervising project managers for the event.

The company will be responsible for monitoring the software development of the various stages in the games. Once all the modules are developed NetSol will ensure the standard for a seamless integration. In addition, NetSol will develop applications for the automation of the accreditation, transportation and accommodation functions for players and officials flying to Pakistan.

As a result of the software developed by NetSol, the SAF games secretariat and management will be able to make immediate decisions using online information and able to efficiently manage their resources.

SAF Games is a regional sporting event, similar to the Olympics. Athletes from the seven member countries - Bangladesh, India, Nepal, Sri Lanka, Bhutan and Maldives - compete in sports such as track and field events, rowing, table tennis, and wrestling.

"It is indeed an honor for us to be associated with a prestigious event like the SAF Games," said Salim Ghauri, President of NetSol. "Our efforts here will be focused on providing the best possible integration solutions. The systems we develop for the SAF Games will have the capability to serve in any large sports event in the world. This opens the door for future games management opportunities, including the 2003 Games in Sri Lanka. As such, NetSol is enthusiastic about the added visibility through the display of our logo during the telecasts and on signage that will reach all seven participating countries."

"We also congratulate the SAF Games, as their status has been raised to a `mini-Olympics,' a symbol of the regional harmony among the participating countries," added Ghauri.

Following the contract signing, the Chairman of the Games, Major General Syed Arif Hassan made the following comments:

"By providing us online information about all aspects of the games, the system will allow us to manage the games more efficiently. We will be able to monitor and manage the participants' movement as well as their complete itinerary during the SAF Games. By automating the Games Management System, NetSol will provide the SAF Games secretariat the tools to better manage the event."

NetSol International Inc. is an ISO-9001 certified software developer in the global information technology industry. With an international workforce of more than 400 employees, NetSol specializes in software development, proprietary and asset-based leasing and finance programs, IT consulting, and creation of eBusiness and Web-based solutions for a growing list of blue-chip customers worldwide. Clients include Daimler Chrysler Taiwan; Mercedes Benz Financing, Australia; Mercedes Benz Leasing, Thailand; Volvo Finance, Australia; CFS Groups U.K., St. George Bank, Australia; GMAC in Australia, and Debis Porfolio Systems, U.K. For more information about NetSol and its subsidiaries, visit the company's web site at www.netsol-intl.com.

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