Acquisition Bid for Solar Outdoor Lighting Firm

March 11, 2004 [] Atlantis Business Development Corporation, Inc. executed a Letter of Intent to acquire a majority interest of Magna-Solar. The document calls for Magna to be jointly owned with SunAmp Power Company. Magna’s primary focus is to provide solar outdoor pre-packaged lighting systems (such as streetlights, parking lot lights, security lighting, bus stop lighting and pathway lighting) that contain proprietary products and designs engineered by Magna and its own proprietary Solar Evaporative Cooler. The company said the solar outdoor lighting market is estimated to be US$100,000,000 in the United States and according to experts expected to triple that amount over the next 3-5 years. SunAmp is a solar engineering and design firm located in Phoenix, Arizona. The company has been in business for 18 years and has designed and installed multiple systems for Toyota, Ford, City of Long Beach, City of Tempe and the City of Phoenix. In January 2004, Southern States Power Company, Inc. finalized an agreement to acquire 51% of the outstanding and issued stock of SunAmp.
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