SAN FRANCISCO, CA
May 23, 2007

AVOLENT, Inc., the leading provider of Self-Service Electronic Billing and Settlement software, and Netsol-McCue Inc., a leading provider of portfolio management solutions for the equipment finance industry, today announce their partnership, created to offer paperless billing and bill settlement environments.

In addition to this partnership with AVOLENT, Netsol McCue has shown its commitment to supporting paperless transactions with its sponsorship of a comprehensive study by the Equipment Finance and Leasing Foundation, "Paperless Transaction: The Competitive Edge". The study lays the roadmap for the industry and covers the necessary legal, finance, accounting, tax, and sales disciplines that must work in concert for the industry to successfully go paperless. The study can be downloaded at http://www.leasefoundation.org/store/.

Both AVOLENT and NetSol McCue recognize the increasingly competitive equipment leasing environment and the demands it puts on lessors to create new ways to improve service to their customers, while differentiating their offerings from those of their competitors. When integrated with AVOLENT, LeasePak will enable lessees to view, pay, and reconcile invoices through a secure online portal, creating a paperless billing environment. Sophisticated reports from AVOLENT provide advanced analytics, including insight into assets coming off lease, upcoming payments, and past due accounts. Lessors will be enabled to provide this level of control to lessees, greatly improving customer satisfaction and creating a new way to manage financial relationships in a paperless billing and settlement environment.

"We are committed to supporting paperless transactions and intend to lead the way for equipment leasing and finance enterprises to offer an online collaborative environment, giving LeasePak users new ways of differentiating themselves with strong customer service," said John McCue, President of Netsol McCue. "With the AVOLENT interface, LeasePak users will enjoy the benefits of fuller end-to-end integration and greater productive efficiencies."

The integration of AVOLENT's Self-Service Electronic Billing and Settlement software and LeasePak from Netsol McCue enables LeasePak users to increase online customer self-service with no disruptive changes to their existing systems, while using web applications to provide flexibility to the asset finance process. AVOLENT allows companies to design private label invoices, distribute bills electronically, and allows lessees to settle/reconcile and pay bills electronically, eliminating the need for hard copy documents to flow back and forth between lessor and lessee.

Through AVOLENT, LeasePak customers will be offered dynamic grouping and consolidation of charges by asset or sub-account and tools to easily design custom invoicing templates for private labeling for the most demanding of customers. AVOLENT gives customers the ability to initiate and resolve disputes and adjustments associated with individual assets or line items in a completely paperless environment. This level of detail and flexibility is a first in the industry. The ability to integrate AVOLENT seamlessly with LeasePak will allow Netsol McCue clients to introduce this advanced level of self-service quickly and cost effectively.

"The billing and settlement process is the one of the most persistent and problematic interactions that lessors encounter across their offerings. We are thrilled to be working with Netsol McCue to provide self-service electronic billing and settlement capabilities across the entire asset finance lifecycle," states Mike Seashols, CEO at AVOLENT. "Lessors can now differentiate themselves through exceptional customer service in a paperless environment, increase operational efficiencies, and preserve natural resources."

About Netsol McCue
Netsol McCue is a global leader in developing lease/loan accounting and portfolio management systems and services. First as McCue Systems and now as NetSol McCue, the company has been providing portfolio management solutions to the U.S. equipment and vehicle industry for over 30 years. LeasePak, the company's core portfolio management solution, is in use at leading banks, manufacturers, and independent leasing companies throughout the U.S. as well as in Canada and Australia.

Headquartered in Burlingame, California, the company offers the largest and most experienced global consulting, implementation, and technical support teams in the leasing industry. For additional information about Netsol McCue, visit http://www.netsol-mccue.com/.

About NetSol Technologies, Inc.
NetSol Technologies is a U.S.-based multinational provider of enterprise solutions and services for commercial finance. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., Europe, East Asia and Asia Pacific, including: London, Los Angeles, San Francisco, Sydney, Beijing, Toronto, and Lahore, Pakistan.

The NetSol family of products includes: the LeaseSoft Contract Management System, LeaseSoft Credit Application Processing, LeaseSoft Wholesale Finance System, LeaseSoft Premium Finance System, LeaseSoft EPO system, and the LeasePak system. NetSol clients include: Motorola, CitiGroup, BMW, Toyota, Yamaha, Quest Communications, and Investec. NetSol's largest customer: DaimlerChrysler Services, a division of DaimlerChrysler, the world's fifth-largest carmaker, ranks NetSol as a preferred vendor in 40-plus countries.

NetSol Technologies helps its clients identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol Technologies delivers high-quality, cost-effective equipment finance portfolio management solutions and IT services ranging from consulting and application development to systems integration and outsourcing. NetSol Technologies' commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMl (Capability Maturity Model) Level 5 assessment. For more information, visit NetSol Technologies' web site at http://www.netsoltek.com/.

About AVOLENT
AVOLENT is the leading provider of best-of-breed application software for self-service electronic billing and settlement process. The AVOLENT suite of applications transforms an organization's billing and settlement process into web self-service process that improves customer satisfaction and operational efficiencies, while preserving natural resources. Companies like Xerox Capital Services, Hewlett-Packard Financial Services, Penske, SunTrust Leasing, DELL, and many others use AVOLENT as their electronic billing and settlement engine to process over one billion dollars of invoices per day on the web to preserve tens of thousands of trees every year. AVOLENT is headquartered in San Francisco, CA. For additional information about AVOLENT, visit http://www.avolent.com/.