McCue Systems Announces Software Development & Consulting Agreement with Netsol Technologies

Strategic development partnership promises streamlined product development for equipment and vehicle lessors.

BURLINGAME, CA, 2/24/2006 -- McCue Systems, Inc. of Burlingame, California, a leading provider of equipment leasing portfolio management solutions, announces a software development and IT services agreement with NetSol Technologies, Inc. (NASDAQ:NTWK), a developer of proprietary software applications and provider of information technology (IT) services to the equipment and vehicle leasing industry.

Under the terms of the agreement, NetSol will augment McCue’s staff to provide the following supplementary services to McCue Systems:

	Software development support services
	Software quality assurance and testing services
	Software maintenance

“To ensure McCue’s leadership position in the enterprise lease loan application niche, and to best meet the needs of our customers, we must continue to rapidly design, develop, test and deploy the highest quality product upgrades and new modules of our LeasePak software,” says John McCue III, President and Chairman of McCue Systems. “The success of NetSol’s well-established expertise makes it the ideal choice for a strategic development partnership.” McCue adds, ”NetSol’s state of the art CMM level 4 world class offshore development center promises a long term strategic partnership, allowing us to effectively utilize NetSol's seasoned lease application development resources to deliver great value to our US-based LeasePak customers”.

“We are pleased to announce a major new U.S.-based development project with McCue Systems,” comments Najeeb U. Ghauri, Chairman of NetSol Technologies from the company’s headquarters in Southern California. . “Our expertise in software development and IT services for the equipment and vehicle leasing industry is a perfect fit with McCue, a recognized leader in enterprise lease loan software solutions. We look forward to working closely with McCue’s technical and product management teams to roll out many new functional enhancements to their customer base over the coming months.”

McCue Systems’ LeasePak is a comprehensive enterprise lease loan management system that helps users track, account for and efficiently manage equipment and vehicle lease and loan portfolios. LeasePak provides a complete solution for all lease and loan accounting, asset management and operational needs, and is scalable to manage vehicle and equipment portfolios of any size. The application incorporates both client-server and Web-based architectures; runs on the SUN/Solaris, HP/UX, and Linux platforms using the Oracle or Sybase relational database systems.

About NetSol Technologies, Inc.
NetSol Technologies is an end-to-end solution provider for the lease and finance industry. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., Europe, 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 delivers high-quality, cost-effective IT services ranging from consulting and application development to systems integration and outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMM (Capability Maturity Model) Level 4 assessment. For more information, visit NetSol Technologies' web site at www.netsoltek.com.

About McCue Systems

With over 30 years of experience in developing business solutions for the equipment and vehicle leasing industry, McCue Systems Inc. is the leading provider of lease/loan portfolio management software for banks, leasing companies, and manufacturers. Its flagship product, LeasePak, simplifies lease/loan administration and asset management by accurately tracking leases, loans, and equipment from origination through end-of-term and disposition.

McCue Systems leads the leasing technology industry in the development of Web-enabled and Web-based tools to deliver superior customer service, reduce operating costs, streamline the lease management lifecycle, and support collaboration with origination channel and asset partners. Alone in the industry, McCue Systems offers a Web-based front-end system that integrates fully with the system’s back-office database architecture.

By harnessing the most advanced technologies, McCue Systems can offer the right operating platform for almost any enterprise. LeasePak can be configured to run on HP-UX, SUN/Solaris or Linux as well as for Oracle and Sybase users. And, for unmatched scalability, McCue Systems offers the LeasePak Bronze, Silver, and Gold Editions for systems and portfolios of virtually all sizes and complexities. McCue Systems’ solutions set the industry standard for reliability, providing the equipment and vehicle leasing infrastructure at leading Fortune 500 banks and manufacturers as well as for the industry’s leading independent lessors.

The leasing experts at McCue Systems work closely with lessors to put the company’s leasing expertise to work to streamline lease operations and enhance customer retention at every stage of the lease lifecycle. For more information, visit www.mccue.com.