SOURCE: Atlantis Business Development Corp

August 29, 2006 10:57 ET

Atlantis Business Development Corporation Signs Letter of Intent to Acquire 20% of First Global Xchange Corp.

MIAMI, FL -- (MARKET WIRE) -- August 29, 2006 -- Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) signed a letter of intent to acquire 20% of First Global Xchange Corp. for 2,000,000 shares of restricted ABSD common stock.

First Global Xchange Corp. seeks to establish a central, electronic marketplace for the fair and orderly trading of equity securities that have normally been excluded from mainstream trading venues. These securities include the OTC Bulletin Board, Pink Sheet and ADR market segments.

Electronic order management and order matching systems have developed sufficiently in recent years to handle the trading volumes required by the markets, providing for price discovery and trade execution. Technological developments can support straight through processing and significantly reduce the direct costs of execution and decrease the indirect costs associated with human intervention and error.

First Global Xchange Corp. president Cary Grant states, "There is an opportunity to become the leader in trading small cap and limited-liquidity stocks by providing an open, fully automated, cost-effective, transparent marketplace."

"We are very pleased to have Atlantis Business Development Corporation as a partner in support of our mission to establish a central, electronic marketplace for the fair and orderly trading of equity securities that have normally been excluded from mainstream trading venues," said First Global Xchange president Cary Grant.

About Atlantis Business Development:

Atlantis Business Development Corporation, (ABSD) (http://www.atlantisbdc.com) has elected to be regulated as a business development company in accordance with the provisions of the Investment Company Act of 1940, as amended. The business development company form of business is a vehicle established by Congress to allow smaller, retail investors to participate in and benefit from investing in small private businesses as well as the revitalization of larger private companies. As a business development company, ABSD is 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. ABSD offers its clients a "one stop shop" of equity and senior, subordinated, structured and mezzanine debt to realize their business development objectives.

ABSD plans to achieve the level of success and implement a growth strategy similar to other established business development companies, such as American Capital Strategies, Ltd. On the NASDAQ, a publicly traded business development company with capital resources of approximately $8.4 billion (http://www.americancapital.com).

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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 Corp. (ABSD), 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, ABSD's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.

Contact Information

  • Public Relations:
    The Street Alert LLC
    67 Wall Street, 22nd Floor
    New York, NY 10005-3111
    Phone: 212-859-5004
    Fax: 212-943-2300

    Additional Information:
    Christopher Dubeau
    CEO
    305-677-3111