Atlantis Systems Corp.
TSX VENTURE : AIQ.H

Atlantis Systems Corp.

August 27, 2010 16:05 ET

Atlantis Systems Corp. Announces Proposed Share Consolidation

TORONTO, ONTARIO--(Marketwire - Aug. 27, 2010) - Atlantis Systems Corp. (NEX:AIQ.H), a globally recognized training integrator in the military and commercial aviation markets, today announced that it will seek Shareholder approval at its Annual and Special Meeting of Shareholders, to be held on September 28, 2010, to consolidate its Common Shares at a ratio of one new share for each twenty outstanding Common Shares.

The Board of Directors of the Corporation has concluded that the consolidation is in the best interest of the Shareholders. If the Shareholders approve the Special Resolution, the consolidation would be implemented at the discretion of the Corporation's Board of Directors at that time. If the Board of Directors would elect to proceed with the consolidation, once approved, it would be implemented on or prior to December 31, 2010.

The consolidation is expected to assist the Corporation's goal of fostering increased interest in the Corporation's shares from a wider audience of potential investors, and would better position the Corporation for future financing and strategic initiatives.

The Corporation's two major Shareholders, ComVest Capital LLC and CEO Capital have indicated that they are supportive of the consolidation of share capital.

Atlantis Systems Corp currently has 204,679,929 outstanding Common Shares.

The share consolidation is subject to the approval of the NEX.

About Atlantis Systems Corp.

Atlantis Systems (NEX:AIQ.H) uses its core capabilities in simulation-aided design and engineering and e-learning, combined with advanced technology tools, to help customers in military aviation and civil aviation ensure the feasibility, capability, and effective utilization of their complex assets. Simply stated, our business is leveraging partnerships and technology to put competent people on the job consistently faster. In more than 30 years of operation, Atlantis has developed a solid reputation for its creative workforce and innovative solutions in supporting global OEM customers and defence organizations. To learn more, please visit the Company's web site at www.atlantissi.com.

Forward-Looking Statements

Atlantis assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or for any other reason. Additional information regarding risks and uncertainties that could affect Atlantis is available in the annual MD&A which can be found on SEDAR at www.sedar.com.

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