NetSol Pilot Success Leads to New Customers; NetSol's U.K. Subsidiary Further Develops Relationship with U.K. School System.

Business Editors & High-Tech/Education Writers

CALABASAS, Calif.--(BUSINESS WIRE)--April 17, 2000

NetSol International, Inc. (Nasdaq:NTWK), a leading global information technology consultant and software developer, today announced its U.K. operations has signed a contract with the Swindon Borough school council Network Solutions Ltd. to implement technology upgrades in another 81 schools.

NetSol International President Najeeb Ghauri stated, "Our company goal is to expand our customer base by further penetrating our subsidiaries specializations and parlay our expertise into building new relationships. We believe that this contract affirms that our successes can attract additional business."

NetSol's U.K. operations doing business under the name Network Solutions successfully implemented of the first phase of pilot schools. Swindon Borough council then selected Network Solutions to be its chosen partner in rolling out upgrades to current Internet and e-mail connectivity to a further 81 schools. This unique solution will eventually enable every student to have his or her individual e-mail account.

Network Solutions intends to approach further councils using Swindon as base model for future roll-outs of similar or larger magnitude. The U.K. education sector is comprised of nearly 33,000 primary, secondary and specialized schools. Network Solutions has been providing networking solutions to over 1,500 schools across the U.K.

On August 16, 1999 NetSol International acquired 100% of Network Solutions Ltd. which offers high quality, comprehensive IT-related solutions to the networking and information technology markets and has established a strong presence in the U.K. education sector. NSGL has a solid customer base, including recognized companies such as NTL Incorporated, Holiday Inn and the Granada chain of motorway service stations, as well as local educational authorities and the National Health Trust.

About NetSol International, Inc.

NetSol is a leading software developer in the global information technology industry. Through its international team of over 250 developers and 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'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. NetSol's clients include Daimler Chrysler Taiwan, Mercedes Benz Financing Australia, Mercedes Benz Leasing Thailand, and Debis Portfolio Systems in the U.K. To learn more about NetSol International, please visit www.NetSol-intl.com.

The Australian subsidiary has opened an entirely new and valuable market for NetSol's products and services and establishes important new partnerships with Fortune 500 customers including BMW Finance, Volvo Finance, Mercedes-Benz Finance, St. George Bank, Land Rover Finance and GMAC Leasing. NetSol-Abraxas Australia Software has developed a Windows-based finance and insurance system and established itself as a leader in finance and insurance software development. The company's main product line is the OASYS Finance and Insurance system. The system uses Remote Access Server (RAS) TCP/IP communications and links to all of Australia's leading insurers, credit reference bureaus and vehicle valuation databases.

Safe Harbor Statement

This release contains 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 "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions identify forward looking statements, 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 of those products and services. A more detailed description of certain factors that could affect actual results include those factors discussed in the Company's filings with the United States Securities and Exchange Commission, including its annual report on Form 10-KSB and quarterly reports on Form 10-QSB.NetSol's Quarterly Report on Form 10-QSB for the period ended Dec. 31, 1999. NetSol International Inc. undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrences of unanticipated events. Readers are cautioned not to put undue reliance on forward-looking statements, which speaks only as of the date of this release. 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.