Atlas America, Inc. Authorizes Buyback of Shares

Atlas America, Inc. (NASDAQ:ATLS) ("the Company”) announces that its Board of Directors has authorized a repurchase program by the Company through which the Company may repurchase up to $50 million of its common stock.

Previously and under a separately authorized share buyback program, the Company repurchased almost 2.1 million shares on a split-adjusted basis on the open market for approximately $50 million, including approximately 560,000 shares for $20 million since June 30, 2008. In addition, the Company repurchased 3.34 million split-adjusted shares for approximately $80 million in a tender auction in March 2007.

The Company currently has approximately 40 million shares of common stock outstanding.

Repurchases may be made from time to time through open market purchases or privately negotiated transactions at the discretion of the Company and in accordance with the rules of the Securities and Exchange Commission, as applicable. The amount and timing of any repurchases will depend on market and other relevant conditions.

Atlas America, Inc. owns an approximate 48% common unit interest and all of the Class A and management incentive interests in Atlas Energy Resources, LLC (NYSE: ATN). Atlas America, Inc. also owns 1.1 million common units in Atlas Pipeline Partners, L.P. (NYSE: APL) and a 64% interest in Atlas Pipeline Holdings, L.P. (NYSE: AHD), a limited partnership which owns the general partner interest, all the incentive distribution rights and 5.75 million common units of Atlas Pipeline Partners, L.P. For more information, please visit our website at www.atlasamerica.com, or contact Investor Relations at bbegley@atlasamerica.com.

Certain matters discussed within this press release are forward-looking statements. Although Atlas America, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in Atlas America’s reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.