NEW YORK, NY -- (MARKET WIRE) -- 09/12/2006 -- Atlantis Business Development Corporation (OTCBB: ABSD) (hereinafter "ATLANTIS") announced today that it has engaged VERITAS of China, LLC to advise it on its business development strategy for US companies doing business in China, including new business opportunities, mergers and acquisitions, and company marketing and positioning.

ATLANTIS 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, ATLANTIS 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. ATLANTIS offers its clients a "one stop shop" of equity and senior, subordinated, structured and mezzanine debt to realize their business development objectives.

ATLANTIS 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., a publicly traded business development company with capital resources of approximately $8.4 billion (http://www.americancapital.com).

VERITAS of China, LLC will provide services to ATLANTIS directly and through VERITAS Capital Advisors ("VCA"), a consulting and financial advisory division focused on providing value-added services to its corporate and institutional clients in the United States, China and internationally. VCA is expected to advise ATLANTIS and its portfolio companies in the areas of investor relations, capital formation, mergers and acquisitions, private equity firm relations, deal flow development and international business opportunities. VCA is headed by Dr. Edwin Ruh, and has a management team with over 50 years of collective experience in consulting, corporate finance, investment management and business development. VERITAS of China, LLC will also rely on the expertise and capabilities of its external strategic alliance partners to assist ATLANTIS in achieving its business development objectives.

Dr. Ruh is the Founder and Chairman of VERITAS of China, LLC and has been an Associate and Lecturer at the Harvard Information Infrastructure Project and spent more than 20 years in project finance and banking, closing more than 100 global transactions totaling more than $18 billion. He holds a Law Degree from Yale University, a Masters of Public Administration from Harvard University, Masters Degrees in Business Administration and Public Policy from the Heinz School, Carnegie Mellon University; a Master's Certificate in Materials Science from the University of Michigan, and a Bachelor of Science in Biomedical Engineering from Pennsylvania State University.

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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, uncertainties related to the Company's access to additional capital, competition and dependence on key management.