NetSol Technologies Announces Beta Launch of smartOCI, an SAP-Compatible Multiple-Catalog Search Engine

EMERYVILLE, CA--(Marketwire - April 28, 2009) - NetSol Technologies, Inc. "NetSol" (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK), an SAP Services Partner and global provider of business services as well as enterprise application solutions, today announced the public beta release of smartOCI, a catalog search engine tool compatible with the SAP Supplier Relationship Management (SRM) application. smartOCI was designed to meet the everyday challenges organizations face in searching, locating, and ordering products from multiple web-based supplier catalogs. Designed to integrate with the SAP Supplier Relationship Management procurement application, smartOCI consolidates search results from multiple OCI (Open Catalog Interface) compliant supplier catalogs into one simple user interface.

smartOCI is completely web-based and does not require any additional hardware or software to install. The software is currently hosted and deployed at a world-class hosting provider located in North America. As a SAP Services Partner, NetSol Technologies has built a highly specialized team of SAP professionals who provide SAP consulting expertise across industries and business processes including financials, supply chain, procurement, and business intelligence.

"The launch of smartOCI represents the first of many SAP-compatible products NetSol Technologies is developing to address usability, business process optimization, and increased adoption of SAP technology for clients worldwide," stated Shaz Khan, NetSol Technologies Senior VP, Solutions. "Our clients have been asking for the cross-catalog search capability within the SRM procurement tool, and we believe we have delivered a simple and intuitive application to meet this demand. Our beta launch is especially well timed as the rollout of smartOCI offers our large global SAP clients a highly efficient tool with which to improve purchasing efficiencies and in many cases yield dramatic cost savings over their current purchasing processes."

As part of the beta program, participants will have the ability to configure the smartOCI system with their supplier catalogs and test the smartOCI search engine interface with their SRM development system. Beta participants will also have the opportunity to influence product functionality and features for future releases. The next version of the product will focus on enhanced business intelligence capabilities, advanced search features, and integration across multiple SAP platforms.

To learn more about NetSol's powerful smartOCI cross-catalog search engine, to participate in the beta test program or request additional information, please visit online at http://www.smartoci.com.

The beta program is expected to end May 31, 2009, to be followed by preparations for SAP certification and development of product pricing.

About NetSol Technologies, Inc.

NetSol Technologies, Inc. (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK) is a worldwide provider of global business services and enterprise application solutions. Since its inception in 1995, NetSol has used its Best Shoring™ practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Specialized by industry, these product and services offerings include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Healthcare, Insurance, Energy, and Technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. Headquartered in Emeryville, California, NetSol Technologies has operations and offices in Adelaide, Beijing, Bangkok, Lahore, and London.

To learn more about NetSol Technologies, Inc., visit www.netsoltech.com

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SAP, SAP Supplier Relationship Management, and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. All other product and service names mentioned are the trademarks of their respective companies.

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 "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.

Contact Information: Contacts: Investor Relations Christopher Chu Grayling Tel: +1-646-284-9426 Email: christopher.chu@us.grayling.com