Starting with Visual Studio 2008, you can target a specific version of .Net Framework - 2.0, 3.0, or 3.5
Until VS2008 its fixed -
VS2005 Goal .Net Framework v2.0
VS2003 Goal .Net Framework v1.1
VS2002 Goal .Net Framework v1.0
If you specify a target, it will require that version of the .NET Framework.
CORRECTION: it will work on the THAT version or higher, compatible.
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