I have Blender 2.49b and have this mesh:
Front:

But on the back the mesh is transparent:

How to fix this?
I have Blender 2.49b and have this mesh:
Front:

But on the back the mesh is transparent:

How to fix this?
Try adding some thickness to your mesh.
It seems to be currently a 2 dimensional plane, which will only have one side drawn unless double sided faces is enabled.
It seems that double sided faces was removed in 2.6x.
Backface culling can also cause this.
The Backface culling setting is located in 3D view > Properties panel > Display:

BTW, related: http://blender.stackexchange.com/questions/2082/one-side-material
– gandalf3 Aug 30 '13 at 18:50