  In this paper, we calculated the new physics contribution to theoretically
very clean rare decay $B\to X_{s} \nu \bar{\nu}$ in the general
two-Higgs-doublet model (model III). Within the considered parameter space, we
found that (a) the new physics contribution can provide one to two orders of
enhancement to the branching ratio $\calb(B\to X_s \nu \bar{\nu})$ and can
saturate the experimental bound on $\calb(B \to X_s \nu \bar{\nu})$ in some
regions of the parameter space; (b) besides the CLEO data of $B \to X_s
\gamma$, the ALEPH upper limit on $\calb (B \to X_s \nu \bar{\nu})$ also lead
to further constraint on the size of the Yukawa coupling $\lambda_{tt}$:
$\lambda_{tt}< 6.4$ for $\lambda_{bb}=2.7$ and $\mhp=200$ GeV.
