After Microsoft announced .NET, they announced various versions of Visual Studio .NET over a period of time to work with various versions of .NET Framework.
Each version of VS.NET works with a specific version of .NET.
.NET Framework versions
Microsoft has released the following versions of .NET Framework so far:
.NET 1.0 - Released in year 2001
.NET 1.1 - Released in year 2003
.NET 2.0 - Released in year 2005
Usually, Microsoft releases new version of .NET Framework first and then follows new version of VS.NET. Until new version of VS.NET is released, developers can still use the beta version of VS.NET and develop applications.
Microsoft released following versions of VS.NET so far:
VS.NET 2002 - Released in year 2002
VS.NET 2003 - Released in year 2003
VS.NET 2005 - Released in year 2005
VS.NET 2002 uses .NET Framework 1.0
VS.NET 2003 uses .NET Framework 1.1
VS.NET 2005 uses .NET Framework 2.0