SOURCE: Gateway International Holdings, Inc.

August 29, 2006 09:05 ET

Gateway International Holdings Retains New Auditors and Announces Future Management Plans

ANAHEIM, CA -- (MARKET WIRE) -- August 29, 2006 -- Gateway International Holdings, Inc. (PINKSHEETS: GWYI) announced today that it has retained the accounting firm McKennon, Wilson & Morgan, LLP to audit its financial statements. Additionally, the Company has begun an executive search to retain a Chief Financial Officer.

According to Gateway International's CEO, Larry Consalvi, "I am pleased to renew the process of auditing our financial statements. Audits allow our management to have a greater accuracy and corporate accountability. Audited financials also creates transparency for those in the financial markets. Once our audits are complete, all financial information will be made available immediately on our website at We will use this information in the preparation for submitting a Form10SB with the SEC in the near future. I am hopeful that the filings will increase visibility for our company, better transparency for security analysts and greater liquidity for our investors."

He continued, "For the past several years, I have been handling dual roles as CEO and CFO. As we have grown, this dual responsibility has grown to a point where the Board has decided that it is in the best interest of the Company to separate my responsibilities and to retain an industry experience Chief Financial Officer. We are currently scheduled to interview several candidates and hope to have made a decision in the near future."

Information on Gateway International Holdings is available on the Company's website, Additional information, including a free investor fact sheet for Gateway is available online at


This press release may contain forward-looking statements. The words "estimate," "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

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