SOURCE: Atlantis Business Development Corp.

April 17, 2007 09:00 ET

Atlantis Business Development Corporation Inc. Announces Transaction Closing on Sale of Its Subsidiary EFTAS, to Nobus Capital Inc., Including One for One Stock Dividend

MIAMI, FL -- (MARKET WIRE) -- April 17, 2007 -- Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) is pleased to announce that it has closed on the transaction with Nobus Capital, Inc. to complete the sale of its wholly owned subsidiary EFTAS.

The parties to the transaction, under which Nettel Holdings, Inc. will develop the EFTAS Employment Program, through their relationship with Nobus Capital, have agreed to the final terms of the transaction, and have consummated the sale effective 4/12/07.

As previously announced, Atlantis shareholders will receive a stock dividend of 1 share of EFTAS, for every 1 share of Atlantis stock held. This dividend represents potential added value for Atlantis shareholders, as they will continue to participate in the upside growth and success of EFTAS.

Nettel Holdings, Inc. is a fast growing technology holding company, developing one of a kind technology solutions, which are primarily focused on the VoIP Industry. Nettel Holdings is known for turning innovative ideas into thriving companies. A public company since 2003, it is only natural for such a forward-thinking technology innovator to want to help our returning military men and women.

EFTAS (Employment for the Armed Services) supports our military men and women, seeking civilian employment, as they return to their local communities at the conclusion of their military service. EFTAS, with the help of its broad community and business partner support, will make a difference for our soldiers.

Atlantis President and Director, Tim DeHerrera commented that, "We are pleased that we have reached final agreement and closed the sale with Nobus Capital, Inc. Further, the opportunity to provide future potential value to our shareholders via the 1 for 1 stock dividend in EFTAS is a positive move. After all, this is the whole idea behind a Business Development Company."

About Nettel Holdings, Inc:

Nettel Holdings, Inc. is a business incubator that creates small companies with a unique technology and supplies them with the necessary technical support, and finances needed to grow. The Company's main revenue producing product is called Advanced Voice Order Processing (AVOP). This product provides international long distance phone companies a single point of contact. The solution creates a mechanism to negotiate and manage call termination point agreements, with local phone companies, in countries around the globe.

Part of Nettel's success is its technical support which comes from a wholly owned subsidiary in Vietnam with more than 50 engineers, called Entec Software. This offshore operation provides a tremendous competitive edge for Nettel, and each subsidiary, keeping its software development costs extremely competitive.

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 new site will be useful for all Veterans, as well. EFTAS is in the final stages of developing its unique website at ( that will provide the functionality of the leading electronic job posting websites, such as, but for military personnel only.

In addition, EFTAS 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 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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