Atlas South Sea Pearl (ATP)

Shares / Stock Code

ATP

Stock Exchange / Sharemarket

ax

Atlas South Sea Pearl (ATP) is an established producer of the pearls having its business operations in Australia and Indonesia. Atlas listed on the ASX on December 31, 1993. ATP is also listed on the Counter Bulletin Board (OTCBB) in the United States. The Company’s offices are located in Perth, Australia, Sanur, Denpasar, Bali and Kuala Lumpur, Malaysia. As of December 31, 2007, ATP operated in excess of 402,000 oysters from its pearl farms based in Aljui Bay, West Papua, and Bali. At December 31, 2007, Bali had contained over 527,000 unseeded oysters and nearly 195,000 seeded oysters in stock. The total number of oysters seeded at North Bali during the year ended December 31, 2007 was 137,000. In 2007 about 264,000 oysters were seeded at Alyui.

Atlas is involved in the pearl farming business since 1992 and is well known for its production of white, silver and gold South Sea pearls. ATP is committed to produce best quality pearls of consistent colour and beauty through its devoted research and quality control activities. Lately Atlas has introduced an exquisite collection of designer, handcrafted pearl jewellery. The Company has opened its first jewellery showroom in Sanur, Bali and it is intended to open more showrooms in the near future.

Atlas manages its pearl farms stretched across the Indonesian archipelago including Bali, Lombok and West Papua with the help of its Indonesian subsidiary, PT Cendana Indopearls. ATP will start a new pearling venture in Sabah, Malaysia in 2008. The Company’s Pearls processing farm is located in Waiego Papua. Atlas contains above 2,500ha of farmable area which can handle over 1 million oysters.

Atlas South Sea Pearl History

Atlas South Sea Pearl listed on the Australian Stock Exchange (ASX) in December 1993, by acquiring 75% of the fledgling pearling company, PTCI, based in West Timor (Kupeng). In 1997, the Company shifted its business operations from Kupeng to Waigeo (before Irian Jaya, west of Papua). By 1999, all pearl farming was carried out at Waigo. Kupeng farm closed at this time due to the civil disorder, thieving and political instability in Indonesia. The Company acquired the remaining 25% of PTCI in February 1999 with a convertible notes issue, generating $3.7M.