SOURCE: Atlantis Internet Group Corp.

October 16, 2006 06:30 ET

ATIG Plans to Take Advantage of Legalized Internet Gaming in the United States

LAS VEGAS, NV -- (MARKET WIRE) -- October 16, 2006 -- Atlantis Internet Group Corporation (PINKSHEETS: ATIG), ATIG anticipated legislation for the online gaming industry being passed from the United States and we have tailored our objectives accordingly. The recent Unlawful Internet Gaming Legislation and the recent arrest of Sportsbook operators will not effect the operation of ATIG or the sale of its products. ATIG's online casino products or website have never taken U.S. bets and we do not utilize Sportsbook Software.

ATIG has seen many attempts by the United States to pass several Bills to eliminate Internet Gaming. However, in each Anti-Internet Gaming legislation there are certain areas of gaming within the United States that can offer forms of Internet Gaming. These areas are Horse Racing, Intrastate Gaming and Indian Gaming. These areas of Internet Gaming will now be considered as legal if operated under the new rules of Internet Gaming Legislation. http://www.rgtonline.com/Article.cfm?ArticleId=67861&CategoryName=Featured under 5362 Definitions

Our company has diversified over the years and has always designed a version of our online products for land based casinos within the United States. Our Internet Gaming software has been one of the only Internet Gaming software products operating in Nevada for the last three years from a licensed Nevada Indian Casino. That software was designed to comply with the Intrastate Internet Gaming Bill currently legal in Nevada. ATIG anticipated a form of Internet Gaming allowed on Reservations and formed a joint venture to pursue the Hosting of Internet Gaming from an Indian Reservation and has held several formal meetings with a large Indian Nation. "Where many see a bleak future we see opportunity; with an estimated 60% of the Six Billion Dollars made in Internet Gaming coming from the United States now cutoff to offshore Internet Gaming companies, that creates a potential Four Billion Dollars U.S. Internet Gaming market," said Donald L. Bailey, President of Atlantis Internet Group Corporation.

ATIG has also targeted slot software development and distribution as a way to introduce our products to a global gaming market. We have established our Slot Software Development with the recent release of our patent pending "Jukebox Fever" -- A Jukebox Slots product, which are Slots that allow players to listen to Music while they play slots. We recently became a licensed supplier of Gaming Equipment in the Northern Territory of Australia. Additionally, we are exploring the development opportunity of Land Based Casinos.

The company is now completing its Registration and Audit and expects to file an application to move up to OTCBB before years end. ATIG will be filing to begin reporting to the Security Exchange Commission (SEC) utilizing the team of August Law Group, P.C., Winston & Strawn, LLP representing legal and Haynie & Company, CPAs representing accounting and will be audited by Weinberg & Company, CPAs.

About Atlantis Internet Group Corp. (http://www.AtlantisInternetGroup.com)

Utilizing an innovative development team and licensed gaming executives to oversee its state-of-the-art online gaming and slot machine products, Atlantis Internet Group Corp. is bridging the gap between traditional gaming casinos and online gaming. Atlantis Internet Group Corp. is one of the first companies to interface with online games and player tracking systems found on traditional floor slot machines.

Internet users can find play-for-fun games including blackjack, roulette, craps, and more at http://www.AtlantisInternetGroup.com. The games utilize industry-leading technology. In addition, the web site features links to Atlantis Internet Group clients, corporate information, and descriptions of products the company offers.

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

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