updated 12/2/2010 9:16:56 AM ET 2010-12-02T14:16:56

CALABASAS, Calif., Dec. 2, 2010 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. ("NetSol" or the "Company") (Nasdaq:NTWK) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that Atheeb NetSol Saudi Company Ltd. ("Atheeb NetSol"), NetSol's joint venture with business conglomerate Atheeb Group Ltd., will participate in the 2nd Annual Kingdom Healthcare Expansion and Investment Summit on December 5 and 6, 2010, at the Park Hyatt Jeddah in Jeddah, Kingdom of Saudi Arabia.

The two-day summit, endorsed by the Kingdom of Saudi Arabia's Ministry of Health, will unite government representatives, decision makers, investors and solution providers to discuss the future of healthcare in Saudi Arabia, the largest healthcare market in the Middle East. Atheeb NetSol is a Bronze-level sponsor of the event and will exhibit its offerings, including NetSol's Hospital Management Information System ("HMIS") software solution, during the summit.

The Saudi government is placing a strong emphasis on healthcare and healthcare automation. It allocated approximately $16.3 billion of its 2010 budget for healthcare projects, including the construction of 92 hospitals and hundreds of primary care centers. Additionally, the government unveiled a five-year plan in November to digitally integrate over 300 Saudi hospitals. The project will include the implementation of electronic health records as well as solutions addressing healthcare system management. Atheeb NetSol looks forward to serving the needs of this industry with its HMIS solution and IT services, including Information Security and Business Intelligence.

Najeeb Ghauri, NetSol's Chairman and CEO, stated, "Information technology is poised to play a critical role in the transformation of Saudi Arabia's healthcare landscape, and the Kingdom Healthcare Expansion summit provides an excellent opportunity for Atheeb NetSol to connect with industry stakeholders. We look forward to showcasing our product offerings at this exciting event and participating in the discussion surrounding Saudi Arabia's rapidly growing healthcare sector."

For more information on the Kingdom Healthcare Expansion and Investment Summit, visit http://www.healthcaresaudi.com.

About NetSol Technologies, Inc.

NetSol Technologies, Inc. (Nasdaq:NTWK) (Nasdaq Dubai:NTWK) is a worldwide provider of global IT and enterprise application solutions. Since its inception in 1995, NetSol has used its BestShoring™ 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, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, 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 162 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in Alameda, Adelaide, Bangkok, Beijing, Karachi, Lahore, London, and Riyadh.

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

The NetSol Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7396

About Atheeb Group

Atheeb Group is a major diversified group established since 1985, based in Saudi Arabia and operating across the Middle East and in the wider region, Atheeb Group succeeded in the market, and it is in the stage of expanding its business in the region. Its business activities focus on Shipping Stevedoring, Medical Services, Information Technology, Telecommunications, Operations and Maintenance, Real Estate Investment, Contracting, Construction, Investment Banking and providing hardware and services to the Military. Atheeb's Group workforce is about 10,000 people led by a professional and well-qualified management team. They are guided by a clear mission and vision for growth, and a set of core values that include quality, professionalism, highest level of ethics and social responsibility.

To learn more about Atheeb Group, visit http://www.atheeb.com.

NetSol Technologies, Inc. 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 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.

CONTACT:  RedChip Companies, Inc.
          Dave Gentry
          800-733-2447, Ext. 104
          407-644-4256, Ext. 104

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