Atlantis Systems Corp.

Atlantis Systems Corp.

September 14, 2009 16:30 ET

Atlantis Systems Corp. Announces Departure of Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2009) - Atlantis Systems Corp. (NEX BOARD:AIQ.H) today announced that, as stated at their recent Annual and Special Meeting of August 25, 2009, one of the company's objectives was to find ways of reducing the Corporate overhead which is excessive for a small public company.

As part of this effort, the functions of Corporate Controller and Chief Financial Officer are being combined. Larry Kyle, Corporate Controller, will assume the role of Interim Chief Financial Officer replacing George Chiarucci effective immediately. Larry Kyle is a CGA and has been with Atlantis Systems Corp for four years. Larry has over 30 years of accounting and financial reporting experience with private and public companies.

"George has played a key role in helping to lead Atlantis through some very difficult times during the past year. We have appreciated George's support and wish him all the best in the future "said Henrik Noesgaard, CEO.

About Atlantis Systems Corp.

Atlantis Systems (NEX BOARD:AIQ.H) uses its core capabilities in simulation-aided design and engineering and e-learning, combined with various technology tools, to help customers in military aviation, civil aviation and nuclear energy ensure the feasibility, capability, and effective utilization of their complex assets. In more than 30 years of operation, Atlantis has developed a solid reputation for its creative workforce and innovative solutions in supporting global OEM customers and defence organizations. To learn more, please visit the Company's web site at

Forward-Looking Statements

Certain statements in this release are considered "forward-looking". These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. The material factors and assumptions that were applied in making the forward-looking statements in this release include but are not limited to assumptions regarding: ComVest not taking any action to enforce its default rights and remedies under its lending arrangements with us; and opportunities being available in the near term to rectify our continued listing deficiencies. Material factors that could cause Atlantis' actual results to differ materially from the forward-looking statements in this release include risks and uncertainties relating to: our ability to source capital to fund our operations, both in the near term and long term; our ability to repay debt on demand; and our ability to operate as a going concern. Atlantis cannot provide any assurance that the predictions of forward-looking statements will materialize. Atlantis assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information regarding risks and uncertainties that could affect Atlantis' business is contained in the Business Risk Factors section of Atlantis's Annual MD&A and the Description of the Business - Risk Factors section in Atlantis' Annual Information Form, both of which are available on SEDAR at

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