Someone somewhere has probably created a .NET assembly to do this based off the free C/C++ source code, but I haven't seen it yet. You can't (AFAIK) use the built-in cryptography classes to do this, as PGP is copyrighted for commercial use, and MS doesn't have a license to distribute it.
Network Associates sells a version of PGP that is designed to be used in eCommerce systems - you can call it via a command line, or via a Win32 DLL call, or as COM DLL. It's pricey ($25k per CPU), but if you need it to run the business, they're the only ones I know of offering that capability.
The GNU version (GNU Privacy Guard -- GPG) unfortunatly doesn't come in a library version -- command line only, so calling it from other programs is difficult (and sometimes impossible). They have stated they have no plans to release a DLL.
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