NETSOL TECHNOLOGIES AND FISERV, INC. ANNOUNCE STRATEGIC PARTNERSHIP BETWEEN CQ SYSTEMS AND FISERV CB

Calabasas, CA – May 20, 2005 – NetSol Technologies, Inc. (NASDAQ:NTWK), and Fiserv, Inc. (NASDAQ:FISV) today announced an agreement between their respective wholly-owned subsidiaries, CQ Systems and Fiserv CBS Worldwide, to market CQ Systems’ Enterprise suite of installment credit solutions on a worldwide basis. CQ Systems’ portfolio, developed for the motor finance, asset finance and premium finance market sectors, will comprise part of Fiserv CBS Worldwide’s integrated consumer finance solution. The Fiserv CBS Worldwide solution includes CBS Aperio consumer interaction management software, core revolving credit processing, dealer management and the company’s business intelligence framework. Fiserv CBS Worldwide solutions are used by retail financial services clients in 42 countries. CQ’s Enterprise suite will initially be marketed by Fiserv CBS Worldwide in Europe, Asia-Pacific, Latin America, Caribbean and Canada.

"Consumer Finance is one of the fastest growing financial services segments in both the European and Asia-Pacific regions," said Peter Keane, Vice President of Consumer Finance, Fiserv CBS Worldwide. "The alliance with CQ Systems is key to our strategic growth plans, as it extends our reach into asset finance, rounds out our product and service offerings, and increases our appeal to small, medium and large-scale businesses. After an extensive market analysis, we ultimately selected CQ Systems because they offered the widest breadth of solutions, a strong track record in automotive, commercial and premium financing, along with a company culture that closely matched our own."

According to Andy Elliott, CQ Systems Managing Director, "The clear and positive synergy between Fiserv CBS Worldwide and CQ Systems, along with an increasing global demand for our finance solutions, represents an opportunity to deliver significant benefits to our joint clients and enhance our global market position within the NetSol group." He continued by stating that "Fiserv’s selection of CQ as a strategic partner demonstrates our leadership position in the installment credit finance market, as well as the quality of our Enterprise solutions. We look forward to working closely with the Fiserv team to continue bringing market leading solutions and outstanding service to our customers."


About Fiserv CBS Worldwide

Fiserv CBS Worldwide is a unit of Fiserv, Inc. that delivers end-to-end business and technology solutions for retail financial and consumer finance institutions throughout Europe, Asia-Pacific, Latin America, the Caribbean, Canada and the United States. Through its offices in USA, UK, Poland, Singapore, Australia, China, Indonesia, Colombia, and Costa Rica, Fiserv CBS Worldwide enables more than 280 financial institutions to deliver integrated solutions for managing the entire customer lifecycle from core banking to multi-channel customer contact and data warehousing. Fiserv CBS Worldwide can be found on the Internet at www.fiservcbs.com.


About Fiserv, Inc.

Fiserv, Inc. (NASDAQ: FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial service industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.


CQ Systems Limited

Established in 1986 and now part of the NetSol Technologies Inc. group. CQ Systems provides software and services to the financial services industry. Today CQ has 55 banking, independent and captive finance house clients in the UK, Europe, Africa and Asia. CQ is recognized as a premium solutions provider with specialist products for the asset finance, motor finance and premium finance sectors.


About NetSol Technologies, Inc.

NetSol Technologies is a leading 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.


For more information:

McCloud Communications / (NetSol Technologies, Inc.)
Marty Tullio or Mark Tullio
+1 949.553.9748 (US)
Marty@McCloudCommunications.com
Mark@McCloudCommunications.com

Fiserv CBS Worldwide
Carol Cowan
+1 407.514.1146 (US)
carol.cowan@cbs.fiserv.com

CQ Systems Ltd.
Johnnie Halliday
+ 44 (0)1403 282300 (UK)
jhalliday@cqsystems.com

Fiserv, Inc.
Chuck Doherty
+1 262.879.5000 (US)
chuck.doherty@fiserv.com


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, assumptions 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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