SOURCE: Gateway International Holdings, Inc.

June 17, 2005 06:00 ET

BEFORE THE BELL: Gateway International Holdings Submits SEC Filings

ANAHEIM, CA -- (MARKET WIRE) -- June 17, 2005 -- Gateway International Holdings, Inc. (OTC: GWYI) announced today that it is today filing with the US Securities and Exchange Commission its Annual Report on Form 10-KSB covering the fiscal years ended September 30, 2003 and September 30, 2004, and the interim quarterly periods contained therein. This filing addresses an order received from the SEC that instituted proceedings pursuant to Section 12(j) and 21C of the Securities Exchange Act of 1934 and is a major step toward Gateway International becoming fully current in its reporting requirements.

From January 2002 through the middle of 2003, Gateway International was a fully reporting company; however the Company was unable to continue filing its required SEC reports in the middle of 2003 due to its inability to obtain complete financial information regarding one of its acquired subsidiaries, Bechler Cams. The matter went to litigation and was settled in November 2003. The Company announced today that it has made its filing on Form 10-KSB for the fiscal years ended September 30, 2003 and September 30, 2004, which were due to be filed on or before December 30, 2003 and December 30, 2004. To complete its periodic filing requirements and come into fully reporting status again, Gateway will also have to file two quarterly reports on Forms 10-QSB, for the fiscal quarters ended December 31, 2004 and March 30, 2005, respectively, which it is currently working to complete for filing.

Originally, the Company was seeking to submit its delinquent reports by May 10, 2005. However, the completion of the audit and filing process, complicated by the addition of Gateway's several new subsidiaries, resulted in a delay.

Gateway International CEO Larry Consalvi commented on the filing, "We are delighted to announce that we have completed this step to becoming a fully reporting company once again. While the past two years have been an exciting time for Gateway International in terms of operational growth, expansion and acquisitions, it has been difficult from the perspective that due to certain legal issues, we could not report our success in the appropriate regulatory filings. Now that the legal issues and delinquent filing problems are behind us, we look forward to demonstrating our commitment to building a successful organization that can be properly evaluated in the open markets. In conjunction with our filing, we are requesting to have our shares relisted for trading on the OTC Bulletin Board. We hope it will not be too long before we can continue to pursue our previously stated goal of listing our shares on either the American Stock Exchange or the NASDAQ."

Additional information on Gateway International Holdings is available on the Company's website, www.gwyi.com and via their IR firm, First Capital Investors, at www.firstcapitalinvestors.com. A downloadable investor fact sheet for Gateway is available free of charge online at www.firstcapitalinvestors.com/factsheets/gwih.pdf.

FORWARD-LOOKING STATEMENTS:

Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievement expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "intend," "expects," "plan," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements.

Contact Information