RED BANK, N.J., Jan. 13, 2005 (PRIMEZONE) -- Atlantis Business Development Corporation, Inc. (OTCBB:ATBD) announced today after a unanimous decision, by the Board of Directors, voted to Spin off E-Direct Inc. in to its own publicly traded company. This spin off will produce a dividend to Atlantis's shareholders (OTCBB:ATBD). This dividend will be issued on Friday the 21st of January, 2005. For every one (1) share of Atlantis stock (OTCBB:ATBD) the shareholder will receive two (2) shares of E-Direct Inc. stock. This dividend has a goodwill asset value of $1.54 for every share of E-Direct Inc. issued.
E-Direct Inc. (http://www.e-directinc.com) is a profitable multimedia marketing agency that has produced gross revenues since June 10th, 2004 in excess of $500,000.00. E-Direct has over 220 Million opt-in emails for categories ranging from investment to travel. E-Direct presently owns and operates over 120 servers for all marketing purposes. Along with its U.S. bandwidth, E-Direct has also acquired bandwidth from various countries, making E-Direct a world-wide multimedia marketing agency.
The Company is subject to the periodic reporting requirements of the Securities Exchange Act of 1934, as amended, and, in accordance therewith, files reports and other information with the Commission. For more information concerning Atlantis, E-Direct Inc. and this spin off please review the filing of the Schedule 14A and Form 8K accessed electronically by means of the Commission's home page on the Internet at http://www.sec.gov. or the Company's website ( http://atlantisbdc.com )
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. (ABDV), 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, ABDV's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.