You can use linq in .net 3.5:
DataColumn col = dt.Columns["DEFAULTSETTINGS"];
object value = //expected value
bool valueExists = dt.AsEnumerable().Any(row => row.Field<object>(col).Equals(value));
EDIT: It seems from the comments you're trying to see if the 'DEFAULTSETTINGS' column contains the string 'default'. The Field extension method simply casts the object in the datarow at that column into the given type, so you can change the type parameter rather than use ToString(). So for your example you can probably use this:
DataColumn col = dt.Columns["DEFAULTSETTINGS"];
bool valueExists = dt.AsEnumerable().Any(row => "default".Equals(row.Field<string>(col), StringComparison.OrdinalIgnoreCase);