CALABASAS, Calif., June 17, 2003 (PRIMEZONE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a developer of proprietary software applications, today announced that its newest U.S.-based acquisition, Altvia Technologies, and its proprietary Knowledge Base Management System (Altvia KBMS), have been selected by the Center for International Private Enterprise (CIPE), an affiliate of the U.S. Chamber of Commerce, to enable the foundation to better share its vast knowledge with its constituents and the general public.
Altvia KBMS is a self-service online support and resource sharing system. The system enables enterprises to support customers, employees, and products by bridging the gap between their internal experts and those who need access to their knowledge. Altvia KBMS may be used for product and service support, outreach activities, and internal enterprise support.
"We are looking forward to implementing the Altvia KBMS for CIPE," said NetSol USA Senior Vice President, Emaad Burki. "CIPE's online content has grown exponentially as the organization has moved to offer enhanced content to its constituents. Our Knowledge Base application is specifically designed to manage large amounts of unstructured knowledge."
"Our work puts us in direct contact with varied, dynamic groups in 80 developing countries. Helping them, and making everything we've learned across the enterprise available to all of our constituents, poses a Herculean challenge," said Aleksandr Shkolnikov, CIPE's Communications Officer. "We look forward to working with NetSol in furthering our mission."
About CIPE
The Center for International Private Enterprise (CIPE), an affiliate of the U.S. Chamber of Commerce, works to build democracy and market economies throughout the world. CIPE works in four principal areas: a grants program currently supporting over 90 indigenous organizations in developing countries, an award winning communications strategy, training programs, and technical assistance through field offices. Since its inception in 1983, CIPE has funded more than 700 projects in 80 countries and has conducted management training programs throughout the world. CIPE conducts their programs with funding from the National Endowment for Democracy and the United States Agency for International Development. CIPE has received support for specific programs from IBM, Coca-Cola, Ernst & Young, Capitol Health Partners, The Pew Charitable Trusts, RJ Reynolds Tobacco and the United States Information Agency. Please visit CIPE at www.cipe.org.
About NetSol USA, Inc.
NetSol USA is a wholly owned subsidiary of NetSol Technologies, Inc., providing a full suite of software technology solutions which include Knowledge Management, Content Management and Association Management systems, as well as custom application development, database development, optimization, quality assurance, and testing, to a variety of vertical markets, including finance, education, entertainment, technology, telecommunications, and not-for-profit organizations. Please visit NetSol USA at www.netsolusa.com.
About NetSol Technologies, Inc.
NetSol Technologies is a leading end-to-end solution provider for the lease and finance, banking and financial services industries. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., East Asia and Asia Pacific. NetSol helps its clients identify, evaluate and implement technology solutions to meet their most critical business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol has been delivering high quality, cost-effective IT services ranging from consulting and application development to systems integration and outsourcing for years. Their commitment to quality is demonstrated by achieving both ISO 9001 and SEI (Software Engineering Institute) CMM (Capability Maturity Model) certification.
Securities Exchange Act of 1934
This release is comprised of inter-related information that must be interpreted in the context of all the information provided; accordingly, care should be exercised not to consider portions of this release out of context. This release is provided in compliance with Commission Regulation FD and contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumption or future events or performance, are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might"' occur. Such statements reflect the current views of NetSol Technologies with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of the underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed or expected. NetSol Technologies does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.
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CONTACY: NetSol Technologies
Najeeb U. Ghauri, Chairman
(818) 222-9195
najeeb@netsoltek.com
Investor Relations
Marty Tullio
(949) 566.9860
marty@investorRR.com