Alternet Systems Inc.'s (ALYI) Utiba Americas Signs Agreement With Globalcash to Deploy Mobile Financial Services in Ecuador

MIAMI, FL--(Marketwire - May 26, 2010) -  Alternet Systems Inc. (OTCBB: ALYI) announced today that its subsidiary, Utiba Americas, has entered into an agreement to provide mobile commerce platform services to Globalcash S.A. in Ecuador. Utiba Americas is a joint venture between Alternet Systems and Utiba Pte Ltd, a leading global supplier of mobile financial transaction platforms for mobile operators and financial institutions. Utiba Americas is deploying a SaaS (Software as a Service) platform in the Americas and the Caribbean region, with a focus on mCommerce and mobile financial services including mobile remittances, micro finance and mobile banking. Globalcash S.A. is an Ecuadorian Company founded in 2010 with the principal objective of providing mobile money services to the unbanked population of Ecuador. Globalcash is working with government agencies that are chartered to reduce the poverty in the country.

Utiba Americas provides its customers access to the most robust and flexible mobile commerce platform, without incurring the upfront costs of acquiring licenses and hardware, and the ongoing expense of personnel to administer and monitor the platform. The Utiba platform has been deployed globally for ten years and currently supports 365 million subscribers and approximately 30% of the worlds' global mobile commerce traffic. In offering the Utiba platform as a hosted service, Utiba Americas is breaking the barriers to mobile commerce. 

Alternet CEO Henryk Dabrowski commented on the agreement, saying, "We are excited to begin enabling mobile commerce in the Latin America region with this important first agreement with Globalcash in Ecuador. The Utiba Americas platform will enable a suite of services from money remittance, microfinance, bill payment, to mobile wallets and micropayment, to name only a few."

Justin Ho, Co-CEO of Utiba Pte Ltd, also commented, saying, "This first agreement represents an important first step for our affiliate, Utiba Americas. With Globalcash, we will revolutionize the mCommerce services in Ecuador, a country with tremendous potential. Utiba looks forward to contributing its more than ten years experience and success in deploying mobile commerce services in developing markets, to the development of the Ecuadorian mCommerce market, with Globalcash."

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