Utiba Signs Agreement With Globalcash to Deploy Mobile Financial Services in Ecuador

SINGAPORE, 27th May, 2010: Utiba, a leading global supplier of mobile financial transaction platforms for mobile operators and financial institutions, is pleased to announce that their affiliate, Utiba Americas, has been engaged by Globalcash, to deploy mobile financial services platform in Ecuador.

Utiba Americas is a joint venture between Alternet Systems and Utiba Pte Ltd, to deploy 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.

Gales Chiriboga, President of Globalcash expressed enthusiasm for the relationship, stating “Globalcash, through a series of business alliances and deploying Utiba’s world class technology, will ensure that both the unbanked and underbanked population of Ecuador have easy and affordable access to high quality financial services, using a country wide network of non-banking agents and incumbent mobile infrastructure. We are excited to launch the mobile wallet services in Ecuador. After following the mobile money success in the Philippines and some other developing markets, we have decided to adopt a similar approach in the region. We are ready to serve the Ecuadorian market”.

Commenting on this development, Justin Ho,Co CEO, Utiba said “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.

Speaking on the occasion, Henryk Dabrowski, CEO Utiba Americas added “Collaboration with Globalcash opens a new wave of impressive possibilities for both companies. The agreement with Globalcash is an important step towards strengthening our foothold in the region. We are excited about the suite of platforms and services that Utiba Americas platform will enable, from money remittance, microfinance, bill payment, to mobile wallets and micropayment, to name only a few of the many possibilities.”

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’s 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.

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 (SaS) 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 Globalcash S.A. (www.globalcash-ec.com)
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.

“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.

Media Contact at Alternet:
Erin Clancy
VP Marketing
marketing@alternetsystems.com