Atlantis Systems Corp.
TSX VENTURE : AIQ.H

Atlantis Systems Corp.

September 27, 2010 15:02 ET

Atlantis Systems Corp. Announces Sale of Avionics Test Equipment Division

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2010) - Atlantis Systems Corp. (NEX:AIQ.H) today announced that Atlantis has successfully concluded a transaction to sell the Avionics Test Equipment division within Atlantis Systems International. The purchaser, Atlantis Avionics Test Equipment Corp., has acquired the rights to manufacture, sell, repair, and calibrate the equipment. As part of this transaction, Atlantis will continue to supply, calibrate, and repair the equipment for a period of up to eighteen months from the closing date.

"Atlantis is pleased to have done this transaction," said Henrik Noesgaard, CEO of Atlantis Systems Corp. "It is a synergistic arrangement whereby Atlantis will continue to work with the purchaser by providing products and services, while the purchaser focuses on growing the business to its full potential. I have every confidence in the purchaser as it is being led by Ron Marshall, a long time past-employee of Atlantis, with intimate knowledge, experience and passion for this Test Equipment Business."

"I am excited to be working with the Atlantis team again" said Ron Marshall, President of Atlantis Avionics Test Equipment Corp. "our arrangement with Atlantis Systems will allow for a seamless transition of the business ensuring that our customers continue to receive the world class quality and service they have been accustomed to".

About Atlantis Systems Corp.

Atlantis Systems (NEX: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 ensure the feasibility, capability, and effective utilization of their complex assets. Simply stated our business is leveraging partnerships and technology to put competent people on the job consistently, faster. 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 www.atlantissi.com.

Forward-Looking Statements

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 which is available on SEDAR at www.sedar.com.

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