SOURCE: Atlantis Business Development Corp.

February 05, 2007 10:00 ET

Atlantis Business Development Corporation Inc. Adds New Board Member, Advances EFTAS Website Development, and Plans Installation of New Leadership Team

MIAMI, FL -- (MARKET WIRE) -- February 5, 2007 -- The Board of Directors of Atlantis Business Development Corp. (OTCBB: ABSD) is pleased to announce that Fredrick Ganem of Rhode Island has been newly elected to the Board of Directors. Further, Atlantis BDC has accepted the resignations of two Board Members, Ralph Nerette and Mosin A. Shah.

For the present, recently elected Board Member Tim C. DeHerrera will direct the day to day operations of both Atlantis BDC, and its wholly owned subsidiary EFTAS. Mr. DeHerrera was formerly with Atlantis BDC from 1992-2005, and has previously served in the capacity of President and Director of Atlantis.

The Company expects to name new EFTAS Directors and a talented individual to lead the fast growing EFTAS subsidiary shortly. Leading candidates for the position of EFTAS Director of Operations will exhibit the background and qualifications of both a strong business leader, as well as having solid military experience.

In an EFTAS related matter, Atlantis has been working diligently to complete the operational components, related to the EFTAS website known as The Company anticipates work on the back-end processes of its website to be completed shortly. By 3/12/07, the site should be fully functional, and ready to accept resumes from military personnel seeking civilian employment opportunities.

About EFTAS:

EFTAS (Employment for the Armed Services) is an organization ( dedicated to helping active duty military personnel find employment, prior to and on the heels of their return home from active duty. The site will be useful for all Veterans, as well. EFTAS is in the planning stages of developing its unique website that will provide the functionality of the leading electronic job posting websites, such as, but for military personnel only.

In addition, EFTAS, a wholly owned subsidiary of Atlantis, is in the process of exploring other avenues for supporting the employment needs of our returning military personnel, such as collaborating with career fair operators, job training organizations, direct hiring employers, and executive search firms.

In sponsoring and supporting EFTAS, organizations and companies can gain a valued and focused benefit. Involvement with EFTAS can position a firm as a leader in Local Community support and involvement, Military, and Military Veteran issues, and indicating a desire to attract these loyal customer bases.

About Atlantis Business Development:

Atlantis Business Development Corporation Inc. (OTCBB: ABSD)

The Company ( 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. In addition, we provide access to 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 (

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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. Further, there are uncertainties that exist related to the Company's access to additional capital, competition, and dependence on key management.

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