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EXHIBIT 99.1

Friday April 27, 9:00 am Eastern Time
Press Release

NETSOL SHAREHOLDERS GROUP, LLC FILES PRELIMINARY PROXY TO REPLACE BOARD OF
NETSOL INTERNATIONAL, INC. AND SEEKS SUITORS

     LAS VEGAS--(BUSINESS WIRE)--April 27, 2001--NetSol Shareholders Group, LLC,
whose members hold over 25% of the outstanding shares of NetSol International,
Inc.(Nasdaq:NTWK) today announced that they have initiated a proxy contest to
gain control of the company from current management. They are proposing a new
slate of directors, including Cary Burch, a current director of NetSol
International, Inc. and executive of The First American Corporation (NYSE:FAF),
Jonathan D. Iseson, principal of Blue Water Partners, L.L.C., Graeme Glew,
manager of Professional Sports Management, Shelly Singhal, Managing Director of
Technology Investment Banking for BlueStone Capital Corp., and Donald Danks, CEO
of Gateway, Inc. (OTCBB:NGWY). New management intends to immediately engage an
investment bank and actively pursue acquiring, merging with or being acquired by
another public company.

     The group has filed a preliminary proxy statement and Schedule 13D
amendment with the Securities and Exchange Commission describing their intended
course of action.

Forward-Looking Statements

     This press release contains predictions, estimates and other
forward-looking statements which include, but are not limited to, statements
regarding the group's future plans. These statements are subject to risks and
uncertainties and actual results may differ materially from any future
performance suggested above. The parties issuing the release undertake no
obligation to publicly release any revisions to these forward-looking
statements, which may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

Contact:

         Greenberg Traurig, LLP, Santa Monica, Calif.
         John C. Kirkland, Esq., 310/586-7738
         kirklandj@gtlaw.com