SOURCE: Atlantis Business Development Corp.

January 26, 2007 10:00 ET

Atlantis Business Development Corporation, Inc. Anticipates Smooth Transition as Its CEO Announces His Resignation Due to Health Reasons

MIAMI, FL -- (MARKET WIRE) -- January 26, 2007 -- Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) and its wholly owned subsidiary EFTAS, today announced that its CEO, Christopher M. Dubeau, will be stepping down. Mr. Dubeau is leaving due to health reasons, effective January 31, 2007, from his positions as CEO for both companies. Chris Dubeau, who has worked tirelessly in successfully moving both Atlantis and EFTAS forward, has agreed to stay on board for 60 days to assist in a smooth and seamless transition. Mr. Dubeau, along with the Atlantis Board of Directors, will soon announce a new CEO and a new Director of Operations for EFTAS.org.

In announcing his resignation today, Mr. Dubeau stated, "I believe 100% in my heart that EFTAS.org, which was my vision and dream, will become a sure winner. I am confident that EFTAS and EFTAS.org can play a vital role in helping our military personnel achieve their personal career goals, as they rejoin their local communities at the completion of their service to our country."

He continued, "I invite all community focused and patriotic business organizations to join with me in this worthwhile and rewarding effort. To see how you can make a difference in the futures of our returning military men and women, or how to become a precipitating member in the EFTAS.org program, please call 877/456-5218 or go to the EFTAS.org website and join. We all owe it to the dedicated men and women of the Armed Services. Thousands of military personnel are stationed across the globe fighting for our country. Many of these brave patriots come home to find themselves without jobs. I feel EFTAS can help make a difference in giving military personnel an opportunity to interact with potential employers."

In closing Mr. Dubeau stated, "I will personally make sure a top businessman with a military background will be the first choice to run EFTAS.ORG."

About EFTAS:

EFTAS (Employment for the Armed Services, www.eftas.org) 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 www.hotjobs.com, 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, indicating a desire to attract these loyal customer bases.

About Atlantis Business Development:

Atlantis Business Development Corporation Inc. (OTCBB: ABSD)

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

Contact Information

  • Additional Information:
    Atlantis Business Development Corp.
    305.466.1511