The Australia Telescope Large Area Survey (ATLAS) has surveyed 7 square degrees of sky around the Chandra Deep Field South (CDF-S) and the European Large Area ISO Survey-South 1 (ELAIS-S1) fields at 1.4 GHz. ATLAS aims to reach a uniform sensitivity of 10 µJy (µJy) beam^-1 rms over the entire region with first data release currently reaching ~ 30 uJy beam^-1 rms. Here the authors present 466 new spectroscopic redshifts for radio sources in ATLAS as part of their optical follow-up program. 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. The authors compare their spectroscopic classifications with two mid-infrared diagnostics and find them to be in broad agreement. ATLAS is a pathfinder for the forthcoming Evolution Map of the Universe (EMU) survey and the data presented in this paper will be used to guide EMU's survey design and early science papers. This paper uses H₀ = 70 km s^-1 Mpc^-1, Omega_M = 0.3 and Omega_Lambda = 0.7, and the web-based calculator of Wright (2006, PASP, 118, 1711) to estimate the distance-dependent physical parameters. This table was created by the HEASARC in March 2013 based on an electronic version of Table 2 from the reference paper which was obtained from the MNRAS web site. Some of the values for the name parameter in the HEASARC's implementation of this table were corrected in April 2018. This is a service provided by NASA HEASARC .