SOURCE: Alternet Systems, Inc.

Alternet Systems, Inc.

October 13, 2010 09:37 ET

Alternet Systems (ALYI) Mobile Commerce Subsidiary Chosen for Regional Deployment

Latin American Regional Technology Company, Movilway, Chooses Utiba Platform for 12 Country Electronic Top Up and Mobile Commerce Project

MIAMI, FL--(Marketwire - October 13, 2010) -  Alternet Systems, Inc. (OTCBB: ALYI) today announced that its mobile commerce subsidiary, Utiba Americas, was chosen to provide the Utiba mobile financial services platform to Movilway, a Madrid, Spain based technology company specialized in electronic top up throughout Latin America. Movilway recently announced a $30 million dollar round of financing through private investors to fund its mobile commerce project, which includes the purchase of the Utiba technology platform. 

Utiba Americas CEO Henryk Dabrowski commented on the transaction, saying, "Movilway recognizes the importance of the electronic top up service, which allows prepaid cellular phone users to add minutes to their phone plan from a virtual, mobile wallet. In commercial deployments worldwide, electronic top up has served as an important precursor to the successful adoption of mobile commerce services, as it familiarizes users to the idea of a mobile wallet, which is the cornerstone of mobile commerce. Movilway has selected the Utiba platform, as it has proven to be the most robust and scalable platform for electronic top up and mobile commerce in its ten year deployment history."

Dan Cohen, CEO of Movilway, added, "We are pleased to announce the selection of the Utiba platform for our electronic top up and mobile commerce services deployment. Having seen Utiba's success and adoption in the Philippines, with G-Cash, we are confident that the Utiba platform will permit us to similarly bring banking and other financial services to the unbanked of Latin America."

Utiba Americas is the result of a joint partnership between Singapore based Utiba Pte., the leading global supplier of mobile financial transaction platforms for mobile operators and financial institutions, and Alternet. Utiba Americas is rapidly deploying Utiba's robust and flexible mobile commerce platform as a Software as a Service (SaaS) in the Americas and the Caribbean region, providing mCommerce and mobile financial services including mobile remittances, micro-finance and mobile banking.

About Movilway:

Movilway was incorporated in early 2010 as a subsidiary of the Celistics Group, which provides it with financial backing and entrepreneurial resources. Since its inception, Movilway has developed electronic top up services which it offers to distributors, sub-distributors, and consumers, and which it intends to develop into a comprehensive suite of mobile financial services. 

About Alternet Systems Inc.

Alternet Systems Inc. (OTCBB: ALYI), a US corporation headquartered in Miami, Florida, is a leading enabler of Secure Mobile Commerce and Communications in the Americas and Caribbean. Alternet has regional presences in 17 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 International Mobile Security (IMS) a newly formed provider of mobile communications security products and services.

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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