SOURCE: Alternet Systems, Inc.

Alternet Systems, Inc.

July 08, 2010 09:43 ET

Alternet Systems, Inc.'s (ALYI) Mobile Commerce Partner Utiba to Participate in Asian Retail Banking Show

MIAMI, FL--(Marketwire - July 8, 2010) - Alternet Systems, Inc. (OTCBB: ALYI) today proudly announced that its mobile commerce partner, Utiba Pte Ltd., will participate as a silver sponsor and speaker at the Retail Banking Asia-Pacific 2010 show the 12th-13th of July in Singapore. The event is a key forum for members of retail banks and other financial services institutions in the Asian financial market.

During the event, Justin Ho, Co CEO of Utiba, will be presenting on the topic of "Budget banking models pave the way forward." Mr. Ho recently authored an article on the future of mobile commerce in the prestigious information and communication technology (ICT) magazine, Connect-World (www.connect-world.com). 

Utiba is a leading global supplier of mobile financial transaction platforms for mobile operators and financial institutions. The Utiba platform supports roughly 30% of the global mobile commerce traffic worldwide, including mobile banking. Mobile banking promises to extend financial services to the previously "unbanked" populations of the world, which are estimated to be fully one half the adult population, according to the Financial Access 2009 report published by the World Bank. The "unbanked" are often outside of the physical reach of traditional brick and mortar banking institutions or deemed unprofitable to serve, because of the small funds that they manage. Mobile banking promises to leverage the ubiquity of the mobile network and the widespread adoption of cellular phones (close to 80% penetration worldwide) and close that gap. In 2010, one billion people worldwide are estimated to own a mobile phone, but not have a bank account, a number which is projected to grow to 1.7 billion by 2014.

Alternet's joint venture with Utiba, named Utiba Americas, offers the powerful and proven Utiba mobile commerce platform as a Software as a Service (SaaS) in the Americas and the Caribbean region. Utiba Americas offers financial institutions, mobile operators, governments, corporations and retailers the ability to design and deploy reliable, advanced, mobile commerce and banking services to their customers, without extensive upfront capital investment. For more information about Utiba Americas, please visit the company website at www.utibaamericas.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 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 Tekvoice Communications, an established provider of hosted Voice over Internet Protocol (VOIP) billing services.

About Utiba Pte Ltd.
Founded in 2001, Utiba focuses on developing scalable, flexible and modular mobile financial transaction platforms. The domain covered by its products ranges from Airtime distribution to airtime share to retail banking to domestic & international remittance and so on. Utiba provides the mobile financial transaction solutions to MNOs, Banks and Third party PSPs alike, while the solutions have also found profound traction in the Microfinance and rural banking industry. Today Utiba's products are successfully deployed across 15+ countries with more than 20 customers, both Banks and MNOs. For more information, visit www.utiba.com.

"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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