NetSol Technologies Selected for Pilot Project to Automate Land Records System for the Province of Punjab

Market Wire, January, 2007

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.

(1) World Bank Project Information Document, Report No: AB1469.

(2) World Bank Project Information Document, Report No: AB1469.

Contacts: NetSol Technologies, Inc. Andrew Lea Vice President, Marketing & Corporate Communications Tel: 1 650-348-0650, ext 1171 Email: andrew.lea@netsoltek.com Investor Relations Christopher Chu The Global Consulting Group Tel: 1-646-284-9426 Email: cchu@hfgcg.com