Alternet Systems, Inc. Anticipates First Acquisition in New Roll-Up Strategy by Year End With Possibility for Second

MIAMI, FL--(Marketwire - October 12, 2009) - Alternet Systems, Inc. (OTCBB: ALYI) today announced that it anticipates closing its first acquisition as part of its new roll-up strategy by year end. The Company plans to build a portfolio of mobile payment software solutions through the acquisition of strategic mobile services system integrators and solution developers. The primary sales targets for Alternet's mobile payment solutions will be concentrated within developing economic regions. Alternet has already announced partnerships to penetrate markets in Asia and Africa, in addition to its current base of sales in Central and South America.

Alternet's solutions focus on effective and profitable mobile payment and m-commerce systems and solutions that tie together telecom operators, financial institutions, and payees such as mass public transportation and utility providers. With the majority of the population in emerging markets belonging to the "unbanked" sector, mobile banking opens up a major opportunity to deliver financial services to a rapidly growing subscriber base. Penetration of mobile services around the world has increased rapidly, with the subscriber base worldwide growing from just over 11 million mobile phone users in 1990 to over 3 billion in 2008. Growth is particularly impressive in developing economies. With only 1 billion bank accounts worldwide and close to 4 billion mobile phone subscribers, both mobile network operators and financial institutions recognize the value proposition in offering mobile financial services.

Greenfield Program's Focus on Technology in Emerging Markets

On Friday, Alternet released an online, on-demand Webcast presentation hosted by the Greenfield program. The Webcast concentrates on the Company's mobile commerce and electronic ticketing payment services and solutions, with a special focus on these solutions in developing economies. The presentation includes a discussion of the Greenfield program and $0.28 suggested fair value target price per share. Alternet has been participating in the Greenfield program this year with a focus on Latin America. The Greenfield program has been developed to accelerate the introduction of new technologies into emerging markets around the world where technology buying is on the rise, while improving return on investment (ROI) potential.

A link to the presentation titled "Greenfield Program Presentation Featuring Alternet Systems, Inc." is available at http://www.newmarkettechnology.com/webcast_20091009.htm.

About Alternet Systems (http://www.alternetsystems.com/)

Alternet Systems offers a wide range of mobile commerce and electronic ticketing payment services and solutions. It facilitates the transition of cash based transactions to mobile based cashless applications, by enabling the end user with a simple, efficient and reliable mobile experience. From M-Commerce Solutions IP Applications Billing to E-ticketing Services, Alternet offers a comprehensive suite of applications for the Utilities, Public Transportation, Financial, and Telecommunications markets. Its broad range of solutions delivers affordable and efficient m-commerce platforms that truly enable new customers, new merchants and new services. Alternet Systems, Inc. is a U.S. corporation headquartered in Miami, Florida.

"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: Contact: Investor Relations 214-556-5927 ir@alternetsystems.com