SOURCE: Alternet Systems, Inc.

Alternet Systems, Inc.

February 17, 2010 09:00 ET

Alternet Systems, Inc. Launches Utiba Americas in Joint Venture With Utiba Pte Ltd., Leading Global Supplier of Mobile Financial Transaction Platforms

Alternet Partners With Utiba to Offer M-Commerce Service in the Americas and Caribbean

MIAMI, FL--(Marketwire - February 17, 2010) -  Alternet Systems, Inc. (OTCBB: ALYI), a leader in hosted application services, is pleased to announce the Company has entered into a joint venture with Utiba Pte Ltd., a leading global supplier of mobile financial transaction platforms for mobile operators and financial institutions. The joint venture, Utiba Americas, will deploy a Software as a Service (SaaS) platform in the Americas and the Caribbean region focused on M-Commerce and mobile financial services.

In the joint venture, Utiba will contribute its proprietary software, operational and commercial expertise and experience in managing successful, swift implementations of mobile financial and payment services. In turn, Alternet will provide local management, technical and marketing resources, extensive experience providing hosted applications as well as a regional presence in over 17 countries.

Utiba Americas' Miami-based management, sales and consulting team is centrally located in the Americas to facilitate rapid deployment of services throughout the Americas and Caribbean region. Utiba Americas offers the same quality of support, both technical and business, that has made Utiba a global leader in mobile transactions.

Alternet CEO Henryk Dabrowski expressed enthusiasm for the partnership, stating, "Alternet is thrilled to partner with Utiba in the Americas. With the Utiba platform supporting approximately 60% of global mobile payments, and over 320 million subscribers, Utiba is clearly a proven leader in this exciting new field. Together, as Utiba Americas, we will offer a suite of M-Commerce and mobile financial services in the region, on a hosted application platform. We are excited about the many services that the Utiba Americas platform will enable, from mobile banking and bill payment, to mobile wallets and microloan repayment, to name only a few of the many possibilities."

Commenting on this development, Justin Ho, CEO of Utiba, stated, "Collaboration with Alternet opens a new wave of impressive possibilities for both Companies. The agreement with Alternet is an important step towards strengthening our presence in the Americas and Caribbean region. We chose Alternet for its excellent presence in this region, product portfolio and expertise that complement our vision of empowering everyone to make mobile payments."

About Utiba Pte Ltd. (www.utiba.com)

Utiba was founded in 2001 with the objective of creating scalable electronic top-up and versatile mobile commerce ecosystems, where users should be able to remit amounts to anyone anywhere in the world, knowing only their mobile phone number. Utiba products are focused around providing mobile transaction and payment solutions to banks, mobile operators, micro finance institutions, and payment service providers. Utiba's products are successfully deployed across 4 different continents and 200 million subscribers. For details, please visit www.utiba.com.

About Alternet Systems Inc. (www.alternetsystems.com)

Alternet Systems Inc. (OTCBB: ALYI), a US corporation headquartered in Miami, Florida, is a leading enabler of Mobile Commerce services in the Americas and Caribbean. Alternet has regional presences in 16 countries throughout the region through a network of fulfillment partners and agents. Alternet's subsidiaries provide a comprehensive suite of hosted and Software as a Service (SaaS) applications for the Utility, Transportation, Financial, and Telecommunication, and Retail industries. Alternet subsidiaries include Utiba Americas, a joint venture with Utiba Pte Ltd., the leading provider of mobile payment and financial transaction software and Tekvoice Communications, an established provider of hosted Voice over Internet Protocol (VOIP) billing services. 

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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