The Australia Telescope Large Area Survey (ATLAS) has surveyed 7 square degrees of sky around the Chandra Deep Field South and the European Large Area ISO Survey-South 1 fields at 1.4GHz. ATLAS aims to reach a uniform sensitivity of 10uJy/beam rms over the entire region with first data release currently reaching ~30uJy/beam rms. Here we present 466 new spectroscopic redshifts for radio sources in ATLAS as part of our optical follow-up programme. Of the 466 radio sources with new spectroscopic redshifts, 142 have star-forming optical spectra, 282 show evidence for active galactic nuclei (AGN) in their optical spectra, 10 have stellar spectra and 32 have spectra revealing redshifts, but with insufficient features to classify.