MIAMI, March 8, 2005 (PRIMEZONE) -- Atlantis Business Development Corporation, Inc. (OTCBB:ATBD) announced today that its wholly owned subsidiary 727 Communications has signed an asset purchase agreement with E-Direct Inc. The agreement calls for one-half of all E-Directs assets for 2,000,000 of Atlantis Business Development's common stock. 727 Communications plans to develop a marketing and VoIP company with these assets. The pro forma for this business has projected gross revenues of $3,220,800 in the first year and gross revenues of $1,138,765. By the third year the projected gross revenues are $13,848,850 and the projected net revenues are $7,735,830.
About Atlantis Business Development Corporation
Atlantis Business Development Corporation, (ATBD) (http://www.atlantisbdc.com) is currently registered as a Business Development Corporation (BDC) and seeks out Companies that are in their business development stage and invests in these Companies. It also builds, creates, and funds its own profitable companies to produce value to its shareholders.
About E-Direct Inc.
E-Direct (http://www.e-directinc.com) is a profitable multimedia marketing agency that is wholly owned subsidiary of Atlantis. E-Direct has more than 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.
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. (ATBD), 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, ATBD's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.