ALYI Alternet Systems Inc New (PK)

Alternet Systems, Inc. (OTCBB: ALYI), a leading enabler of secure mobile commerce and payment transactions, today announced it is actively pursuing an acquisition to support its recently formed subsidiary, International Mobile Solutions (IMS). Alternet has already begun the process of due diligence on a confidential target acquisition that would provide IMS with mobile security-related intellectual property. IMS was created in late 2009 to address security concerns when deploying mobile commerce and transaction services. IMS's aim is to expand Alternet's mobile security services to the global mobile security market, which is expected to surpass $4 billion dollars in 2014, according to an ABI Research study published in January 2010.

Alternet recently announced the appointment of Juan Cubides to lead IMS. Mr. Cubides brings to IMS a vision of a comprehensive solution to the threats posed to digital communication, through the creation of a broad portfolio of security products and services designed to protect and manage mobile and digital communications. Mr. Cubides is a twenty-five-year security veteran and a pioneer in the deployment and implementation of cutting edge security technologies, such as trace detection, body scanning using spectrometry and millimeter wave, computer tomography, and advanced x-ray technology. Mr. Cubides has worked for industry leaders Raytheon, Ion Track Instruments, General Electric and L-3 Communications, and founded ALAS, the largest trade association for security professionals in Latin America.

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.

"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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Media Contact at Alternet: Erin Clancy VP Marketing eclancy@alternetsystems.com Investor Relations Contact at Alternet: ir@alternetsystems.com 214-556-5927