SOURCE: Alternet Systems, Inc.

Alternet Systems, Inc.

May 20, 2011 11:36 ET

Alternet Systems, Inc. (ALYI) Names Mastercard Veteran as Chief Financial Officer

MIAMI, FL--(Marketwire - May 20, 2011) - Alternet Systems, Inc. (OTCQB: ALYI) (PINKSHEETS: ALYI) today announced the appointment of Michael T. Viadero as Chief Financial Officer (CFO). Mr. Viadero brings broad experience in multiple disciplines, diverse industries and markets throughout Latin America, including fifteen years of overseas assignments. In his more than 25 years of experience, he has managed multi-functional organizations, regional departments and operations for MasterCard International, W.R. Grace and First Chicago. In his most recent role at MasterCard, as Regional Financial Officer, Mr. Viadero was responsible for all financial activities, including facilitating the transition from privately-held to public company, compliance with Sarbanes-Oxley Act, among other varied responsibilities.

In his new position, Mr. Viadero will oversee the financial operations and regulatory compliance of Alternet and its operating subsidiaries, Utiba Americas and International Mobile Security (IMS). He is based at Alternet's headquarters in Miami.

Alternet CEO Henryk Dabrowski warmly welcomed the new executive team member, saying, "Mr. Viadero brings the financial oversight and management experience we need to manage Alternet's growth. As the markets for mobile commerce and mobile security begin to take off, and our sales efforts gain traction, we expect strong performance from our operating subsidiaries this year. Michael's experience in the credit card industry and international business will help us to oversee and manage this growth."

About Alternet Systems Inc.

Alternet Systems Inc. (OTCQB: ALYI) (PINKSHEETS: 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.

"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.

Contact Information

  • Media Contact at Alternet:
    Erin Clancy
    VP Marketing
    Email Contact

    Investor Relations Contact at Alternet:
    Investor Relations
    Email Contact
    1-888-823-8494

    Alternet Systems Inc.
    South Bayshore Drive
    Suite 220-12
    Miami, FL 33133, USA
    T +1 (786) 265-1840
    F +1 (786) 513-2887
    www.alternetsystems.com