SOURCE: Atlantis Business Development Corporation, Inc.

January 19, 2007 09:30 ET

Atlantis Business Development Corporation Inc. Names Tim C. DeHerrera to Its Board of Directors

MIAMI, FL -- (MARKET WIRE) -- January 19, 2007 -- Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) is pleased to announce the appointment of Tim C. DeHerrera to its Board of Directors. Mr. DeHerrera was formerly with Atlantis BDC from 1992-2005. Tim has served previously in the capacity of President and Director of Atlantis.

Atlantis CEO Christopher Dubeau in announcing the Board appointment commented that "Everyone here at Atlantis is very excited that Tim is rejoining our Board, and are looking forward to working closely with him. Mr. De Herrera will be taking on some additional responsibility, as well. For an interim period, Mr. De Herrera will be helping with the day-to-day operations of the Company as EFTAS is growing exponentially."

About Tim C. DeHerrera:

Tim DeHerrera is currently President and Director of Future Quest Nevada, Inc. Future Quest is a small public company in the oil and gas exploration business with oil assets in Texas. Mr. DeHerrera has been President and a Director since February 2004. Additionally, he is also Executive Vice-President and a Director of Friendly Energy Services, Inc. a public company, also in the oil and gas exploration business with oil well properties in Oklahoma.

Previously, Mr. DeHerrera was President of Atlantis Business Development Corporation, a public company regulated under Section 54 of the Investment Company Act of 1940. Prior to joining Atlantis, he was in the financial services sector for over fifteen years most recently as President and Founder of Alternative Finance Advisors, Inc, a consulting company to the credit industry. Throughout his career Mr. DeHerrera has been a principle in numerous companies both public and private. He has a lengthy background in investment banking, capital formation, capital restructures, private placements and deal origination.

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:

    Christopher Dubeau
    CEO
    305-446-1150