Thursday August 9, 12:53 pm Eastern Time
Press Release
SOURCE: NetSol International Inc.
Top Executive from DaimlerChrysler Financial Services joins Board of Directors of NetSol International Inc.
CALABASAS, Calif.--(BUSINESS WIRE)--Aug. 9, 2001--NetSol International Inc. (Nasdaq:NTWK - news), www.netsol-intl.com, has announced that Eugen Beckert, senior representative of DaimlerChrysler Services and former chief information officer (CIO) in Asia, has been elected to the company's board of directors.
Beckert has been instrumental in DaimlerChrysler's development of global technology in the Far East.
``We are very pleased Mr. Beckert has accepted to join NetSol International's board of directors. It shows the close relationship the two companies share and the confidence DaimlerChrysler Financial Services has in NetSol as its strategic partner,'' commented Salim Ghauri, president of NetSol International Inc.
He added, ``Mr. Beckert's knowledge and background in global technology will be a tremendous asset for NetSol, since he will truly understand how to execute NetSol's business model.''
Beckert has a longtime association with NetSol, which counts among its clients DaimlerChrysler offices in Singapore, Australia, Thailand and Taiwan.
Beckert said: ``NetSol is an important business partner for DaimlerChrysler. We have a long association with NetSol and are continuing to grow our relationship. I believe NetSol has the ability to grow and execute complex software projects, through its technical and management resources. Joining the NetSol board would allow us to contribute towards the company's strategic development and business growth.''
Beckert, a native of Germany, has been with Mercedes-Benz AG/Daimler Benz AG since 1973, working in technology and systems development. In 1992 he was appointed director of Global IT (CIO) for Debis Financial Services, the services division of Daimler Benz. In 1996 he was appointed director of Processes and Systems (CIO) for Financial Services Asia/Pacific. His office is now based in Tokyo.
NetSol International Inc. is an ISO-9001 certified software developer in the global information technology industry. With an international workforce of more than 275 employees, NetSol specializes in software development, proprietary and asset-based leasing and finance programs, IT consulting, and creation of e-Business and Web-based solutions for a growing list of blue-chip customers worldwide.
Clients include DaimlerChrysler companies in Australia, Singapore, Taiwan and Thailand; St. George Bank, Australia; GMAC in Australia; and Debis Portfolio Systems, in the United Kingdom. For more information about NetSol and its subsidiaries, visit the company's Web site at www.netsol-intl.com.
Safe-Harbor Statement
This release contains forward-looking statements relating to the development of the company's products and services and future operating 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 of those products and services. A more detailed description of certain factors that could affect actual results include those factors discussed in the company's filings with the United States Securities and Exchange Commission, including its annual report on Form 10-KSB and quarterly reports on Form 10-QSB. NetSol International Inc. undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrences of unanticipated events. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only as of the date of this release. 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.
--------------------------------------------------------------------------------
Contact:
NetSol International Inc.
Naeem Ghauri, 818/222-9195
-------------------------------------------------
-------------------------------------------------
Kr
Jens
