SOURCE: Gateway International Holdings, Inc.

March 06, 2007 08:06 ET

Gateway International Holdings Announces Real Estate Sale

ANAHEIM, CA -- (MARKET WIRE) -- March 6, 2007 -- Gateway International Holdings, Inc. (PINKSHEETS: GWYI) announced today that it has completed the sale of its Eran Engineering facility in Santa Ana, California for $2,017,000 in an all-cash transaction. Proceeds from the sale were used to reduce debt of approximately $642,000 with the remaining funds to be utilized for growth and working capital.

In a related transaction, Gateway has entered into an agreement to lease approximately 47,000 square feet in Tustin, California to house its precision manufacturing operations and its corporate offices. Management anticipates being able to move the corporate offices into the Tustin facility in early July with the manufacturing operations moving in August.

Gateway's CEO Tim Consalvi commented, "The larger facility will provide for the ability to accelerate internal growth at our Precision Manufacturing Group during a period when the market is growing. In addition, Gateway will have the ability to consolidate multiple operations, if desired, and add future acquisitions into existing operations. We are excited about the opportunities for growth and acquisition that the larger facility will provide."

Investor information is available on Gateway International Holdings website at www.gwyi.com. Additionally, a downloadable Investor Fact Sheet is available at www.firstcapitalinvestors.com/factsheets/GWYI.pdf.

About Gateway International Holdings, Inc.

Headquartered in Anaheim, Calif., Gateway is a manufacturer of advanced machined components and a distributor of both new and used Computer Numerical Controlled ('CNC') machines and tooling through its wholly owned subsidiaries: Elite Machine Tool Company, All American CNC Sales, Accurate Technologies, Eran Engineering and Nu-Tech Industrial Sales.

'SAFE HARBOR':

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.

Contact Information