SOURCE: Atlantis Business Development Corp.

September 28, 2007 09:00 ET

Atlantis Business Development Corporation Changes Legal Status

MIAMI, FL--(Marketwire - September 28, 2007) - Atlantis Business Development Corporation (OTCBB: ATLB) announced today that, pursuant to an immediately effective Form N-54C filed on 09/19/2007, the board has elected to withdraw the company's status with the SEC as a business development company in accordance with the provisions of the Investment Company Act of 1940, as amended. The board was acting on behalf of the shareholders that approved the action by a considerable majority in a shareholder meeting held 09/10/2007. Atlantis Business Development Corporation will continue to be regulated as a publicly traded company.

Atlantis Business Development Corporation will continue to be engaged in providing debt and equity financing to public and private companies, as well as private equity funds, for working capital, acquisitions, management buyouts, projects and special situations. The Company's management intends to aggressively pursue new acquisitions that would enhance the existing portfolio of investments and that would be expected to enhance shareholder value through capital appreciation and dividend payments to the Company. Atlantis Business Development Corporation intends to offer its clients a "one stop shop" of equity and senior, subordinated, structured and mezzanine debt to realize their business development objectives.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Atlantis Business Development Corporation except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, ATLB 's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.

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    Tim DeHerrera