NetGateway Directors Appointed to Proposed New NetSol Board of Directors
by NetSol Shareholders Group, LLC
OREM, Utah, Apr 30, 2001 (BUSINESS WIRE) -- In an April 27 press release,
NetSol Shareholders Group, LLC, whose members hold over 25% of the outstanding
shares of NetSol International, Inc. (Nasdaq:NTWK), announced that they have
initiated a proxy contest to gain control of the company from current
management, proposing a new slate of directors. In light of that press release,
NetGateway, Inc. (OTCBB:NGWY), an e-Services company that provides eCommerce
training, technology, continuing education and a variety of other web-based
resources for small businesses and entrepreneurs, announced today that of the
five new members selected to serve on the Board of Directors, two of them sit on
the Board of Directors for NetGateway.
"I am very pleased to announce that myself and fellow NetGateway Director,
Shelly Singhall, have been selected to sit on a proposed newly formed Board of
Directors for NetSol International, Inc.," said Donald L. Danks, Chairman and
Chief Executive Officer of NetGateway, Inc. "I believe this is an excellent
opportunity for two complimentary companies to explore a wide range of strategic
options to help maximize the value of the products, services, infrastructures
and assets of both companies."
About NetGateway, Inc.
NetGateway is an e-Business Solution Provider helping companies of all sizes
meet their unique e-Business challenges. Whether it is a "brick and mortar"
company extending its business to the Internet, or one launching a great idea
into an e-Commerce site, NetGateway offers solutions to take any company from
concept to operation. For more information about NetGateway, visit the company's
web site at www.netgateway.com.
About NetSol International, Inc.
NetSol International, Inc. is an ISO-9001 certified software developer in the
global information technology industry. With an international workforce of more
than 400 employees, NetSol specializes in software development, proprietary and
asset-based leasing and finance programs, IT consulting, and creation of
eBusiness and Web-based solutions for a growing list of blue-chip customers
worldwide. Clients include Daimler Chrysler Taiwan; Mercedes Benz Financing,
Australia; Mercedes Benz Leasing, Thailand; Volvo Finance Australia;
International Decision Systems, Inc.; St. George Bank, Australia; GMAC in
Australia; Debis Portfolio Systems, U.K.; VoiceStream; Prism Inc, USA; Global
One, USA; Clinical Interactions and Askari Leasing Ltd. For more information
about NetSol and its subsidiaries, visit the company's web site at
www.netsol-intl.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this news
release (as well as information included in oral statements or other written
statements made or to be made by Netgateway, Inc.) contains statements that are
forward-looking, such as statements related to consummation of the transaction,
anticipated future revenues of the companies and success of current product
offerings. Such forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results in the future
and accordingly, such results may differ materially from those expressed in any
forward-looking statements made by or on behalf of Netgateway, Inc. For a
description of additional risks and uncertainties, please refer to Netgateway,
Inc.'s filings with the Securities and Exchange Commission, including Forms 10K
and 10-Q.
CONTACT: NetGateway, Inc., Orem
Don Danks, 801/227-0004
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