http://en.wikipedia.org/wiki/.NET%5FFramework#Versions
Microsoft started development on the .NET Framework in the late 1990s originally under the name of Next Generation Windows Services (NGWS). By late 2000 the first beta versions of .NET 1.0 were released.
Version Version Number Release Date Visual Studio Default in Windows
1.0 1.0.3705.0 2002-02-13 Visual Studio .NET
1.1 1.1.4322.573 2003-04-24 Visual Studio .NET 2003 Windows Server 2003
2.0 2.0.50727.42 2005-11-07 Visual Studio 2005
3.0 3.0.4506.30 2006-11-06 Windows Vista, Windows Server 2008
3.5 3.5.21022.8 2007-11-19 Visual Studio 2008 Windows 7, Windows Server 2008 R2
4.0 Beta 2 2009-10-19 Visual Studio 2010