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OTC Journal
December 6, 1999	Volume II, Issue 64

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

To OTC Journal Members:

Breaking News on NetSol International (OTC BB: NTWK)

This Company is living proof of the fact that oftentimes winners continue to be winners. Today, NetSol International (OTC BB: NTWK) made a major news announcement. As we are writing this update, the stock has already traded as high as $10.25, making another new all time high.

The Company built its business around its relationship with Mercedes Benz Leasing Finance Companies worldwide. Long before Daimler-Benz bought out Chrysler, NetSol was developing all the leasing software used by the Mercedes Benz finance companies.

Today, NetSol International announced its first commercial contract with one of the Chrysler Finance Companies, and another contract with Tung Yang Leasing Company Taiwan Ltd.

We only have one thing to say about NetSol- The stock just keeps going higher. The stock is also very close to obtaining a NASDAQ listing according to sources associated with the Company that we spoke with today.

If you do not own this stock you might want to take the time to review our archive section of all the editions we have published on this company. Click Here to go directly to that section. Since we released our original profile on NetSol on January 15th, this is the 24th edition we have published on the company.

Here is the complete text of the news release for your review:

Monday December 6, 9:47 am Eastern Time
Company Press Release

NetSol International Signs Contracts with Chrysler Finance and Tung Yang Leasing

Flagship WFS Product Line Continues Expansion into Global IT Market Sector

SANTA MONICA, Calif.--(BUSINESS WIRE)--Dec. 6, 1999--NetSol International, Inc., (OTC BB: NTWK - news) announced today that its subsidiary, Network Solutions (Pvt.) Ltd., has signed new contracts with Chrysler Finance Taiwan Ltd., a division of Daimler-Chrysler (NYSE: DCX - news), and Tung Yang Leasing Company Taiwan Ltd., a subsidiary of DEBIS Financial Service, Germany.

Under the agreements, NetSol will install and implement its flagship lease and finance product, Wholesale Finance System (WFS), also commonly known throughout the industry as the ``Floor-Plan System'' software. NetSol will also perform network implementation procedures related to the installation of the WFS product.

NetSol's Wholesale Finance System is an innovative and highly proprietary software system designed to be compatible and flexible enough to support integration with most legacy systems that are common throughout today's lease and finance industry. The WFS product was developed to fully automate and manage the wholesale finance activities of financial institutions, such as equipment and auto leasing companies and commercial banks that provide leasing and financing services for a variety of assets. WFS is designed around Netsol's proprietary concept of ``one loan -- one asset,'' in order to facilitate orderly asset tracking and costing. The system features credit management, loan approval, payment tracking, billing, settlement, auditing of inventory, dealer information and loan pay-off functions.

``WFS was developed over a two-year period by a team of sixteen IT professionals, and is an extremely robust system capable of handling the most critical enterprise processing. The system is expected to go live for Chrysler Finance Taiwan Ltd. in early March 2000. We anticipate the success of this project will provide us the needed leverage to become a key player in the North American and European markets. Netsol has become a premier developer in this field and we believe we have established a significant global presence through our partnerships with Mercedes Benz and Chrysler,'' said Mr. Salim Ghauri, CEO of NetSol International, Inc.

NetSol has developed a begin-to-end solution through its proprietary software products for the lease and finance industry. Over the past 18 months, the company has grown exponentially as it has extended its market reach through acquisitions and development of software products for several other industries including education, networking, consulting, Y2K compliance tracking and e-commerce. Network Solutions (Pvt.) Ltd. is the first software developer in Pakistan to receive the ISO 9001 certification, an internationally recognized standard of superior quality.

NetSol International, Inc., an Information Technology company, is the parent company of Network Solutions (Pvt.) Ltd., Network Solutions Group, Ltd., NetSol U.K., Ltd. and NetSol USA, Inc. NetSol became the first software developer in Pakistan to qualify for ISO 9001 certification. The company has developed its own software systems targeted at the lease and finance industry. NetSol has developed an offshore business model, which offers cost efficiencies, core operating competencies and strong business relationships with blue chip customers worldwide. NetSol has a full-fledged research and development facility in Lahore, Pakistan, which employs nearly 100 programmers, developers and engineers.

Safe Harbor Statement

The foregoing press release may include numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The Federal securities laws provide a limited ``safe harbor'' for certain forward-looking statements. Forward-looking statements in this press release relating to product development, business prospects and development of a commercial market for technological advances are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. 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.

For further information, please visit our Investor Relations Web site: www.netsol-intl.com. SOURCE: NetSol International, Inc.

Contact:
     NetSol International Inc.
     Najeeb Ghauri, 310/395-4073
     najeeb@netsol-intl.com
     www.netsol-intl.com
           or
     Market Pathways
     Shannon T. Squyres (media & investor relations)
     949/955-1860

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