Atlas Development & Support Services : Completes Acquisition of Ethiopian Bottling Plant

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

3 December 2015

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

Completes Acquisition of Ethiopian Bottling Plant Project

Atlas (AIM, NSE: ADSS) is pleased to announce that it has completed its acquisition of East Africa Packaging Holdings Limited ('EAPH'), a company established to build a new state-of-the-art glass bottle manufacturing facility, 45 kilometres north of Addis Ababa, Ethiopia (the 'Chancho Project'). This acquisition follows the Company's recent establishment of an industrial division, which is looking to capitalise on the emerging Ethiopian consumer market, and complements Atlas' established in-country presence.

Chief Executive of Atlas, Carl Esprey said, 'The Chancho Project is currently in feasibility stage and will provide Atlas with access to the rapidly growing Ethiopian consumer market. This acquisition marks the first step in a defined development strategy, which will result in high quality, locally produced glass bottles being available to the growing Ethiopian beer and beverage industries. As we progress we will aim to keep shareholders updated on a regular basis as well as provide information as and when we achieve major development milestones.

'Ethiopia represents one of the fastest growing economies in the world, as a result of rising income, population growth, well managed infrastructure spending, and stable government policies. It has been attracting significant investment from international beverage companies, with over $500 million invested to date, and beer production has been growing at a compound annual growth rate of 14.3% over the last 14 years. Despite these growth rates, the demand for glass bottles is largely unmet by local production and is, at present, mainly satisfied by expensive imports.'

A full presentation on the Company's new industrial division and the Chancho Project is available onhttp://www.atlassupport.com/presentations.aspx with further detail also available in a recent broker notehttp://www.atlassupport.com/research.aspx .

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