NetSol Technologies Signs Two New Agreements in China to Provide Finance and Leasing Software Solution

NetSol Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, was selected by Taiwan Acceptance Corporation Finance Leasing Co., Ltd. ("TAC Leasing"), an entity approved by the China Ministry of Commerce, and Yulon Auto Finance Company ("Yulon"), an entity approved by the China Banking Regulatory Commission, to implement applications of the NetSol Financial SuiteTM. Both companies are affiliated with the Taiwan Acceptance Corporation, and Yulon is the first auto finance company in China to receive investment from the Taiwan Group.TAC Leasing will implement the NetSol Financial Suite Credit Application Processing System (CAP) and Contract Management System (CMS) for retail business operations. Yulon will implement CAP, CMS and the Wholesale Finance System (WFS) as its core business solution. The agreements have a combined value of approximately $3.0 million, which include business process consulting, customization and on-site implementation services, and are expected to be completed within the next six months."We are proud to have been selected by TAC Leasing and Yulon to help further their growth objectives in China," said Najeeb Ghauri, CEO of NetSol. "These new contracts further our market leadership position in the asset finance and leasing sector in China, and represent the trust in our people, process and systems to manage vital business functions. With new companies entering the market and the encouragement of financing and leasing by the Chinese government, we remain highly confident about our prospects moving forward."In 2015, NetSol was awarded "First Rate and Best Selling Finance and Leasing Solution Provider" at the annual China Leasing Summit for the third consecutive year.