SOURCE: Atlantis Business Development Corp.

January 22, 2007 09:30 ET

Atlantis Business Development Corporation Inc. and EFTAS.org Announce Participation by GEICO® Insurance in the EFTAS Employment Program

MIAMI, FL -- (MARKET WIRE) -- January 22, 2007 -- Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) is pleased to announce the participation by GEICO® Insurance in the EFTAS Employment Program.

It is only natural for GEICO® to want to help our dedicated military men and women, upon completion of their military service seeking employment in their local communities. From its founding in 1936, GEICO has taken a special interest in our soldiers. GEICO offers discount insurance programs and service options that can best serve U.S. troops at home and overseas during wartime as well as peacetime.

Atlantis CEO Christopher Dubeau commented, "The association with GEICO® Insurance as a business and community partner for the EFTAS Employment Program is welcome news. GEICO® has a proud business history of helping our military men and women. Together, we will make an impact as EFTAS and eftas.org will assist our returning solders find civilian employment opportunities. GEICO® has always valued military veterans among its 20,000 Associates and 7 million policyholders."

About GEICO®:

Today, GEICO®, Government Employees Insurance Company is a wholly owned subsidiary Berkshire Hathaway, Inc. The name goes back to GEICO's first customers in 1936 who were government employees and Military personnel. Founder Leo Goodwin went into business determined that he could deliver automobile insurance at reduced prices by selecting prime customer groups and marketing directly to them. Goodwin succeeded in driving down operating costs and passed on the savings to policyholders up front as discounts. GEICO continues to find ways to manage its business costs in order to offer savings to consumers. In addition to auto insurance, GEICO® offers a full range of insurance products.

About EFTAS:

EFTAS (Employment for the Armed Services), is an organization www.eftas.org 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, and indicating a desire to attract these loyal customer bases.

About 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:
    Christopher Dubeau
    CEO
    305-446-1150