Atlas Announces Material Real Estate Transaction

    




 CHICAGO, April 6, 2012 /CNW/ -  Atlas Financial Holdings,  Inc. ("Atlas" or the "Company") today announced it entered into a  definitive sale and purchase agreement related to its 176,844 square  foot building in Elk Grove Village, Illinois.  Proceeds from this cash  transaction, net of costs and fees at closing, are expected to be  slightly higher than the approximately $13 million asset value of the  property as carried on the Company's books at December 31, 2011.  Atlas  will remain in the building as a tenant.  The transaction is scheduled  to close in second quarter 2012 subject to the terms of the agreement. 

 About Atlas 

 The primary business of Atlas is commercial automobile insurance in the  United States, with a niche market orientation and focus on insurance  for the "light" commercial automobile sector including taxi cabs,  non-emergency paratransit, limousine/livery and business auto. The  business of Atlas is carried on through its insurance subsidiaries  American Country Insurance Company and American Service Insurance  Company, Inc.  Atlas' insurance subsidiaries have decades of experience  with a commitment to always being an industry leader in these  specialized areas of insurance.                  

 Notice regarding forward-looking statements: 

 This release includes forward-looking statements regarding Atlas and its  insurance subsidiaries and businesses. Such statements are based on the  current expectations of the management of each entity. The words  "anticipate", "expect", "believe", "may", "should", "estimate",  "project", "outlook", "forecast" or similar words are used to identify  such forward looking information.  The forward-looking events and  circumstances discussed in this release may not occur and could differ  materially as a result of known and unknown risk factors and  uncertainties affecting the Companies, including risks regarding the  insurance industry, economic factors and the equity markets generally  and the risk factors discussed in the "Risk Factors" section of the  Company's Form 10-K for the year ended December 31, 2011. No  forward-looking statement can be guaranteed. Except as required by  applicable securities laws, forward-looking statements speak only as of  the date on which they are made and Atlas and its subsidiaries  undertake no obligation to publicly update or revise any  forward-looking statement, whether as a result of new information,  future events, or otherwise. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 



Atlas Financial Holdings, Inc.


CONTACT:  Scott Wollney, Chief Executive Officer of Atlas FinancialHoldings,Inc. at 847-700-8600. 


    

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