Atlas Energy Resources, LLC Updates Capital Expenditure Budget.

PITTSBURGH -- Atlas Energy Resources, LLC (NYSE:ATN) ("Atlas Energy" or "the Company") announced today an increase in its capital expenditure budget to approximately $235 million for the full year 2008. The increase is primarily related to the Company's expanded development efforts of its Marcellus Shale position in southwestern Pennsylvania, including both horizontal and vertical drilling, as well as acceleration of its leasing efforts of Marcellus Shale prospective acreage.

Atlas Energy Resources, LLC develops and produces domestic natural gas and to a lesser extent, oil. Atlas Energy is one of the largest independent energy producers in the Appalachian Basin and northern Michigan. Atlas Energy sponsors and manages tax-advantaged investment partnerships, in which it co-invests, to finance the exploration and development of the Company's acreage in the Appalachian Basin. Atlas Energy is active principally in Pennsylvania, Michigan and Tennessee. For more information, visit Atlas Energy's website at www.atlasenergyresources.com or contact Investor Relations at [e-mail].

Atlas America, Inc. (NASDAQ:ATLS) owns an approximate 49% common unit interest and all of the Class A and management incentive interests in Atlas Energy Resources, LLC, and a 64% interest in Atlas Pipeline Holdings, L.P., a limited partnership which owns the general partner interest in Atlas Pipeline Partners, L.P., and all the incentive distribution rights and 5.5 million common units of APL. For more information, please visit our website at www.atlasamerica.com, or contact Investor Relations at [e-mail].

Certain matters discussed within this press release are forward-looking statements. Although Atlas Energy Resources, LLC 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 Energy's reports filed with the SEC, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.