SOURCE: Atlantis Business Development Corporation

November 09, 2006 13:00 ET

The EFTAS Subsidiary of Atlantis Business Development Corporation, Inc. Has Appointed New Directors

MIAMI, FL -- (MARKET WIRE) -- November 9, 2006 -- Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) has announced the appointment of two new Directors to the Board of its wholly owned subsidiary, EFTAS. EFTAS is in the development stage of becoming a portal for Military Personnel to use for planning their next career move, prior to their exit from the Military.

The two new EFTAS Board Members appointed are Joseph Celano and Lee Manko. Both Board members are Military Veterans who have had distinguished private sector careers, spanning decades since the end of their active duty. With this background, both will provide EFTAS with key insights, as the Company builds effective job hunting functions and features into its website.

Joseph Celano -- Director, EFTAS

Mr. Celano is a Military Veteran and a former USN Captain (Retired). Mr. Celano has served as the Commanding Officer on the USS Copeland. In addition, he has a broad 25-year career background spanning IT Program Management and has been associated with the Department of Homeland Security. As a successful Corporate Business Executive, Mr. Celano has held the positions of CEO, Founder, President, Director, Chief Operating Officer and Chief Information Technology Officer.

A graduate of the US Naval Academy, Mr. Celano has a Bachelor of Science Degree in Oceanography and a Masters of Business Administration in Management Information Systems from Southern Illinois University. Mr. Celano has written a large body of published work. His technical writings span the fields of Software Engineering, Modeling, Simulation and Analysis, and Electronic Security Systems.

Lee Manko -- Director, EFTAS

Mr. Manko is a founder of a specialty systems engineering firm that is focused on Homeland Security. The Company, SkyGuard Global, Inc., provides practical risk-based security systems and solutions for ports, vessels, and maritime facilities around the world. Mr. Manko is a successful Corporate Business Executive as well as a Senior Systems Engineering professional. He has held key executive and management positions including CEO, Founder, President, COO, and Vice President of Engineering.

Mr. Manko is a graduate of the University of California at Davis, with a Bachelor of Science Degree in Electrical and Computer Engineering with an emphasis on Digital Signal Processing and Circuit Design. He is currently pursuing graduate work towards a Master of Science Degree in Electrical Engineering at the University of Southern California.

About EFTAS:

EFTAS (Employment for the Armed Services), is an organization dedicated to helping active military personnel find employment prior to and on the heels of their return home from active duty. EFTAS is developing a website that provides the functionality of the leading electronic job posting websites, such as www.hotjobs.com, but for military personnel only.

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, as well as 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., listed 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, the competitive environment, and dependence on key management.

Contact Information

  • Additional Information:
    Christopher Dubeau
    CEO
    305-677-3111