Expands Operations into Mozambique

Atlas Development & Support Services Limited / Ticker: ADSS / Index: AIM / Sector: Support Services

3 December 2014

Atlas Development & Support Services Limited ('Atlas Development' or the 'Company')

Expands Operations into Mozambique

Atlas Development & Support Services Limited (AIM: ADSS), the African focussed support services and logistics company, is pleased to announce that, in line with its expansion strategy for East Africa, it has been awarded its first support services contract in Mozambique. The agreement, with an international oil company, underlines Atlas Development's increasing penetration into the oil & gas support services market and its growing reputation with international blue-chip operators.

The multi-service agreement reflects the Company's strategy of supporting early stage exploration activities with a view to securing and implementing long term development contracts. The contract also marks an entry point into a new country and complements the Company's existing operational presence in Kenya, Ethiopia and Djibouti. The Company is headquartered in Nairobi and has regional offices in the Turkana region of Kenya, Addis Ababa and Djibouti.

Mozambique is an important new territory for the Company as it is host to the development of multiple large scale oil & gas, mining and power projects, making it an ideal target for Atlas Development. The Board intends to further leverage its position as a market leader in the provision of turnkey support services and logistics solutions to additional operators within the burgeoning resource and power market in Mozambique.

Carl Esprey, Chief Executive Officer of Atlas Development, said:

"Atlas Development has its sights set on becoming the turnkey support services company of choice in East Africa, and today's contract with another international oil company not only marks our transition in a new strategic jurisdiction, but also validates Atlas Development's reputation as a quality and international standard operator. Mozambique, as with other countries in East Africa including Kenya, Ethiopia and Djibouti, holds a significant amount of potential for us. We are therefore pleased to have secured this contract to support our client's entry into Mozambique and believe that this initial agreement will pave the way for a long term strategic presence in the country."

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Notes to Editors

Atlas Development's core divisions are delineated as follows:

· Atlas Technical: civil engineering, workforce accommodation and construction

· Atlas Services: medical and facilities management

· Atlas Logistics: fuel solutions, storage and transportation

Through these three core divisions, Atlas Development provides turn-key support for a range of major oil & gas exploration and development companies operating across East Africa. The market opportunity for a company such as Atlas Development remains highly attractive, and the Board believe there is considerable opportunity to leverage the Company's established position to further capitalise on the rapidly growing oil & gas exploration and development industry in Kenya.

The Company announced on 13 October 2014, that it intends to dual list on the Growth Enterprise Market Segment of the Nairobi Securities Exchange (the 'Kenyan Listing'), by way of an introduction and private placing being offered solely in Kenya. Completion of the Kenyan Listing will make Atlas Development the first AIM listed company to join the Kenyan exchange and will mark a further important step in the Company's development as it looks to expand its existing support services business in East Africa.