YES. There is like 50 versions of printmaster, but the highest system requirements I have found is:
CPU: Pentium® III 500-MHz processor or faster
RAM: 128 MB / 1 GB Windows Vista
DVD-ROM Drive
Display: 800 x 600 pixels, 16-bit high color
Hard Drive Space: 2 GB*
Most (if not all) netbooks have a 1.6gig processor (3x what you need)
1GB RAM (9x for xp, and still ok for vista)
1024x600 display (still good)
DVD rom (you will have to buy an external drive for about $60, but still will work)
Harddrive 160+ GB (80x what you need)