Alternet Systems, Inc.'s (ALYI) Utiba Americas Exhibits Mobile Commerce Technology at GSMA Mobile Money Summit This Week in Rio de Janeiro

MIAMI, FL--(Marketwire - May 24, 2010) -  Alternet Systems, Inc. (OTCBB: ALYI) today announced that the Company is exhibiting its mobile money technology and services at the Mobile Money Summit Show (http://www.mobilemoneysummit.com/index.shtml) beginning today through Thursday, May 27^th in Rio de Janeiro. Alternet's subsidiary, Utiba Americas, is jointly exhibiting with Utiba Pte, the leading global supplier of mobile financial transaction platforms for mobile operators and financial institutions. Utiba Americas is the result of a joint partnership between Utiba and Alternet to deploy a Software as a Service (SaaS) platform in the Americas and the Caribbean region focused on mCommerce and mobile financial services including mobile remittances, micro-finance and mobile banking. More information on Utiba Americas can be found at www.utibaamericas.com.

The Mobile Money Summit 2010 offers four days of discussion, leadership, and progress for the Mobile Money industry and is designed to stimulate greater understanding, collaboration and progress for all Mobile Money stakeholders globally, regionally and locally. Utiba Americas and Utiba Pte are exhibiting together in Booth Number 7 on the Exhibition floor. More information about the event can be found at www.mobilemoneysummit.com.

About Utiba Pte Ltd.
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 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
eclancy@alternetsystems.com

Investor Relations Contact at Alternet:
Investor Relations
ir@alternetsystems.com
1-888-823-8494