You may check the following links. What you need is data caching. 

http://www.4guysfromrolla.com/articles/100902-1.2.aspx

http://weblogs.asp.net/dotnetstories/archive/2011/02/15/data-caching-in-asp-net-applications.aspx

http://www.asp.net/data-access/tutorials/caching-data-at-application-startup-cs

The way we use caching doesn't differ much across various framework versions.