Yes, but you need to download and install .Net separately from SP-2.
.Net is available free form Microsoft. If you run Windows Update it should
list .Net as an option (non-critical) update.
Not to disagree, but let me add a clarification.
It's the .net *Framework* that's available for free from Microsoft
(actually several versions of it). The .net Framework is not .net
itself. Dot Net itself is "a wide collection of products and
technologies from Microsoft" (Wikipedia). You can think of .net as
something like a programming language. The .net Framework is the set
of run-time support files for programs written using .net.
If you recall the old visual basic run-time dlls, they are analogous
to the .net framework. As with VB, where the run-time dlls were free,
but VB itself was not, the run-time .net Frameworks are free, but .net
itself is not.