MIAMI, March 23, 2005 (PRIMEZONE) -- Atlantis Business Development Corporation, Inc. (OTCBB:ATBD) announced today the wholly owned subsidiary 727 Communications signed a contract to purchase millions of minutes from XO Communications for the term of one year. This contract completes the last piece for the signed E-Direct contract for the sale of 120,000,000 minutes.
About Atlantis Business Development
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. A business owned by Atlantis, E-Direct Inc., was spun off into its own public company and produced a 2 for 1 share dividend for Atlantis shareholders. Atlantis plans to continue to produce valuable companies and stock value for Atlantis shareholders.
About XO Communications
XO Communications is a leading provider of national and local telecommunications services to businesses, large enterprises and telecommunications companies. XO offers a complete portfolio of services, including local and long distance voice, dedicated Internet access, private networking, data transport, and Web hosting services as well as bundled voice and Internet solutions. XO provides these services over an advanced, national facilities-based IP network and serves more than 70 metropolitan markets across the United States. For more information, visit http://www.xo.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. (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.