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NetSol Technologies and CIBER Netherlands Announce smartOCI(TM) Distribution Partnership

/ Source: GlobeNewswire

CALABASAS, Calif., April 11, 2011 (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 CIBER Netherlands, one of the largest SAP consulting organizations in the Netherlands, has joined NetSol's smartOCI™ Channel Partner program.

The smartOCI™ Channel Partner program provides partners with the opportunity to market and sell NetSol's smartOCI™ solution to their customers and provides a key differentiator when competing for customer implementations of SAP technology. Under the terms of the partnership, CIBER Netherlands will have the right to market and distribute smartOCI™ to customers in the Benelux region (Belgium, the Netherlands, and Luxembourg).

smartOCI™ is an on-demand, intuitive B2B commerce platform that allows organizations to optimize their procurement operations by unifying catalog content from punch-out suppliers, standard stock parts, and internal content, and presenting the results in a unified search interface. smartOCI™, used in conjunction with SAP solutions, reduces the transactional, maintenance and infrastructure costs associated with procuring goods and services from suppliers and allows companies to achieve meaningful cost savings and operational efficiencies in the supply chain.

"smartOCI™ greatly extends the range of solutions we can offer our customers who are looking to derive more benefits from their SAP investment and further optimize their procurement business processes," commented Machiel Spruit, Service Line Manager SRM at CIBER Netherlands. "smartOCI™ fills a valuable gap in the market by providing a one-stop shopping interface across all supplier catalog content."

"We are very excited about our partnership with CIBER Netherlands and have already seen tremendous response for the product from customers in the European region," commented Najeeb Ghauri, NetSol's Chairman and CEO. "CIBER Netherlands is a recognized leader in SAP Supply Chain consultancy in the Netherlands and provides a valuable access point through which to market and distribute our smartOCI Marketplace technology in a mature and growing market."

About CIBER Netherlands

CIBER is an international IT service provider, specializing in the building, integration and management of critical business solutions and systems. CIBER's solutions are available in both custom-tailored and package form. Their services are provided for all technological platforms, operating systems, and existing infrastructures.

In the Netherlands, CIBER has now been operating for over 14 years with approximately 525 employees in the offices in Eindhoven, Nieuwegein, Den Bosch, Rotterdam and Amsterdam. CIBER Netherlands focuses on the high-tech industry, utilities, government, telecom, media, financial and business services sectors.

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 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by 178 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.

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