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OTC Journal Newsletter
June 30, 1999	Volume II, Issue 28

Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:

At the beginning of our June 25th edition we noted that the stocks of two of the Companies that we follow were trading at excellent entry levels; Those two being Engineering Power (OTC BB:EGPDF) and NetSol International (OTC BB: NTWK).

Today there was a news release published by NetSol International (OTC BB:NTWK) which resulted in the stock moving up 10%. If you are not familiar with this software company we strongly recommend that you go back and review the original profile that can be found by clicking here. When originally published the company's name was Mirage Holdings, so don't be confused by the name change.

NetSol will finish fiscal 1999 (June) with about $4.5 to $5 million in sales, up from just over $2 last year. They have been profitable for four years running. They are on track to achieve $15 million in fiscal 2,000, which begins on July 1st.

Today's press release looks like a contract which could yield another $2 million plus in sales in fiscal 2,000. The market seemed to like the news release as the stock was up 10% on moderate volume for this particular issue.

We have been very encouraged by fundamental developments at the Corporate level, but the stock has yet to really appreciate significantly this year. We believe that at some point in the future investors will recognize the value of this Company and it will be reflected in the price of the stock.

Always invest carefully. All the due diligence you need on NetSol International can be found at their Corporate Web Site at http://www.netsol-intl.com. Please review their financial statements and news releases before doing anything. Always remember, it's your money.

Here is the full text of today's press release:

Wednesday June 30, 9:45 am Eastern Time
Company Press Release
SOURCE: NetSol International, Inc.

NetSol International, Inc. Through Its Subsidiary NetSol UK, Ltd. Launches A Networking Project to Promote ICT Education in Schools Throughout the UK

SANTA MONICA, Calif., June 30 /PRNewswire/ -- NetSol International, Inc. (OTC Bulletin Board: NTWK) announced that its wholly owned subsidiary NetSol UK, Ltd., has successfully teamed up with Charitable Organizations Sponsored by The Rotary Clubs to offer Secondary and Primary schools throughout the United Kingdom a chance to have their own network.

There are in excess of 24,000 schools in the U.K. Virtually all of these schools require urgent attention in terms of access to Information Communication Technology (ICT) in education. In addition, the U.K. government has committed to investing over $1.6 billion in the next 4 years for Technology Education. NetSol UK, Ltd. has devised a turnkey networking solution for schools, with the support and advice from Government recognized education inspectors.

NetSol UK, Ltd., has the resources and capabilities of Microsoft Certified Systems Engineers, who will professionally refurbish the old computers and create a Network of PCs that will run most contemporary software in conjunction with a powerful server and will begin to address some of the core ICT issues for education including training and support. NetSol UK, Ltd. will generate revenues from providing a network of 15 computers in each school, at a package price of $10,500. NetSol UK, LTD. expects to install the networks in at least 100 schools by year-end 1999. The first six months revenue could potentially exceed $1,000,000 and could more than triple in year 2000.

Mr. Naeem Ghauri, Managing Director for NetSol UK, Ltd., commented, ``We see technology education as a very important and fast developing market and this opportunity will provide NetSol UK with a very positive profile in this key sector.'' He added that ``with the expertise NetSol UK has, it is natural for us to become leaders in this sector and to provide quality service to schools who so deservedly need it.''

The CEO of NetSol International, Inc., Mr. Salim Ghauri commented, ``I am clear in my mind that we have the right solution, at the right price, for all schools in the U.K. We expect to penetrate in this new business sector and achieve a respectable market share in the U.K. education industry. For the shareholders, this is a new revenue stream and profit center, which should significantly improve our bottom line.''

NetSol International, Inc. is the parent company of NetSol UK, Ltd., Network Solutions (Pvt.) Ltd., and NetSol USA, Inc.

Included in this material are ``forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations reflected in such forward-looking statements would have proven to be correct.

For further information, please visit the Company's web site www.netsol-intl.com or www.netsol-education.com

SOURCE: NetSol International, Inc.

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