Gateway Casinos Income Fund
TSX : GCI.UN

Gateway Casinos Income Fund

May 24, 2005 15:22 ET

Gateway Casinos Income Fund Announces Outcome of Annual General Meeting

BURNABY, BRITISH COLUMBIA--(CCNMatthews - May 24, 2005) - Gateway Casinos Income Fund (the "Fund") (TSX:GCI.UN) is pleased to announce that all of the members of the Board of Trustees were reappointed for the coming year at the Fund's Annual General Meeting held on May 19, 2005. The members of the Board of Trustees are:



Mr. Raymond A. McLean, Chairman
Mr. Andrew C. Burns
Mr. Dave Gadhia
Dr. James J. Miller
Mr. B. Jeffrey Parr
Mr. Ross J. Tocher
Mr. Bryan Williams


Immediately following the Annual General Meeting, the Board of Trustees appointed members to the Audit Committee and Compensation and Corporate Governance Committees. As a result of recent input from unitholders, Mr. Raymond A. McLean, CEO of Gateway Casinos G.P. Inc., stepped down from the Compensation and Corporate Governance Committee and was replaced by Dr. James J. Miller. Membership of the committees for the coming year is as follows, each of who is independent of management:



Audit Committee
Mr. Andrew C. Burns, Chairman
Mr. B. Jeffrey Parr
Mr. Bryan Williams

Compensation and Corporate Governance Committee
Dr. James J. Miller, Chairman
Mr. Andrew C. Burns
Mr. Bryan Williams


Profiles of each of the members of the Board of Trustees can be found in the Fund's Information Circular dated April 18, 2005, copies of which can be accessed on SEDAR (www.sedar.com) and on the Fund's website.

The Fund is an unincorporated, open-ended limited purpose trust established under the laws of British Columbia, which operates the Burnaby Casino in Greater Vancouver, BC, the Palace Casino in Edmonton, Alberta and the Lake City Casinos in Kamloops, Kelowna, Penticton and Vernon, BC. Headquartered in Burnaby, BC, the Fund is one of the largest casino operators in Western Canada.

To find out more about Gateway Casinos Income Fund (TSX:GCI.UN), visit our website at http://www.gatewaycasinosincomefund.com.

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