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.NET Framework 4 will be supported as a Server Core installation option on Windows Server 2008 R2 Service Pack 1. Availability has bee publicly been stated to release in Q1.
Like in .NET 2.0 and .NET 3.5, with .NET Framework 4, you will be able to build and run managed applications that use ASP.NET, WCF, WF, Windows Services and Console Applications.
The announcement was made on TechNet at .NET Framework 4 availability on Server Core.
The Server Core installation option is an option that you can use for installing Windows Server 2008 or Windows Server 2008 R2. A Server Core installation provides a minimal environment for running specific server roles, which reduces the maintenance and management requirements and the attack surface for those server roles.
A server running a Server Core installation of Windows Server 2008 supports the following server roles:
For more information about writing apps for Server Core, see the MSDEV video Windows Server 2008 R2: Server Core Application Development.
Bruce D. Kyle ISV Architect Evangelist | Microsoft Corporation