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Atlantis Systems Corp.: Atlantis Systems Corp. Wins $1.9M Contract With L-3 Communications MAPPS Inc.

^{Published on 2009-04-08 12:45:13, Last Modified on 2009-04-08 12:46:28 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - April 8, 2009) - Atlantis Systems Corp. (TSX:AIQ) today announced that it has been awarded a $1.9 million CDN contract by L-3 Communications MAPPS Inc. (L-3 MAPPS) for the supply of courseware development and training for the Halifax Class Integrated Platform Management System (IPMS) Project, an upgrade project that will modernize the Canadian Navy's 12 Halifax Class frigates and improve their operational effectiveness.

"We are delighted to team up with Atlantis for the courseware development and training elements of our IPMS for the Canadian Navy," said Shankar Udupa, Vice-President of Engineering and Operations of the Montreal-based L-3 MAPPS. "Atlantis Eduplus has a strong reputation and we look forward to working with them."

"We are very pleased to be working with L-3 MAPPS for the IPMS project," said Henrik Noesgaard, Chief Executive Officer Atlantis Systems Corp. "Working with L-3 MAPPS will allow us to demonstrate to a new customer the level of customer service that we believe will make us the best possible supplier in the industry."

"This announcement is a big vote of confidence for our management credibility and an endorsement of our recently adopted strategic plan to focus on eLearning through our Eduplus acquisition," said Mark Rivers, Chairman of the Board for Atlantis.

The Halifax Class frigate is a class of multi-role patrol frigates that have served the Canadian Forces since 1992. The HMCS Halifax was the first of twelve Canadian-designed and built vessels, which combine traditional anti-submarine capabilities with systems to manage surface and air threats. In 2007, the Canadian government announced a planned refit of the Halifax Class known as the Halifax Class Modernization program.

The Integrated Platform Management System project is a Government of Canada defence procurement which is subject to Canada's Industrial and Regional Benefits (IRB) Policy. The IRB policy requires L-3 MAPPS, as the prime contractor, to generate high-quality business opportunities in Canada equal to 100% of the contract value.

About Atlantis Systems Corp.

Atlantis Systems (TSX:AIQ) uses its core capabilities in simulation-aided design and engineering and advanced learning practices and techniques, to support customers in military aviation, civil aviation and nuclear energy ensure the feasibility, capability, and effective utilization of their complex assets. Atlantis Systems has a proven track record in accelerating the capability, productivity and performance of their customer's people and assets through the utilization of their core capabilities in simulation aided design, engineering and learning and the application of advanced learning and application of advanced learning practices and technology. In more than 30 years of operation, Atlantis has developed a solid reputation for its creative workforce and innovative solutions in supporting global OEM customers and defence organizations. To learn more, please visit the Company's web site at [ www.atlantissi.com ].

About L-3 MAPPS

L-3 MAPPS, a division of the L-3 Marine & Power Systems group, has over 25 years of experience in pioneering technological advances in the marine automation field and over 35 years of experience in delivering high-fidelity power plant simulation to leading utilities worldwide. In addition, the company has more than three decades of expertise in supplying plant computer systems for Canadian heavy water reactors. L-3 MAPPS also provides targeted controls and simulation solutions to the space sector.

Forward-Looking Statements

Certain statements in this release are considered "forward-looking". These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. The material factors and assumptions that were applied in making the forward-looking statements in this release include but are not limited to assumptions regarding: our ability to execute the program on time and on budget; our ability to source competent staff; our ability to operate as a going concern. Material factors that could cause Atlantis' actual results to differ materially from the forward-looking statements in this release include risks and uncertainties relating to: our ability to source the required capital to fund operations and our ability to operate as a going concern. Atlantis cannot provide any assurance that the predictions of forward-looking statements will materialize. Atlantis assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information regarding risks and uncertainties that could affect Atlantis' business is contained in the Business Risk Factors section of Atlantis's Annual MD&A and the Description of the Business - Risk Factors section in Atlantis' Annual Information Form, both of which are available on SEDAR at [ www.sedar.com ].