After trying to setup my site for Google Webmaster Tools I found that my Custom ASP.NET 404 page was not returning the 404 status code. It displayed the correct custom page
After much testing and troubleshooting it appears that certain hosting providers can interfere with the return code. I was able to get around this by applying a "hack" in the content.
<%
// This code is required for host that do special 404 handling...
Response.Status = "404 Not Found";
Response.StatusCode = 404;
%>
This will allow the page to return the correct return code no matter what.