SOURCE: Gateway International Holdings, Inc.

October 11, 2005 09:32 ET

Gateway International Holdings Granted Appeal Hearing to Its SEC Administrative Proceedings

ANAHEIM, CA -- (MARKET WIRE) -- October 11, 2005 -- Gateway International Holdings, Inc. (OTC: GWYI) announces that the Securities and Exchange Commission has agreed to hear its appeal of the administrative law judge's initial decision to revoke the Company's registration and to issue a cease and desist order against Larry Consalvi.

The Securities and Exchange Commission's order reads as follows:

"Pursuant to Rule 411 of the rules of Practice, the petition of Gateway International Holdings, Inc. and Lawrence A. Consalvi for review of the administrative law judge's initial decision is granted. Pursuant to Rule 411(c), the commission on its own initiative, had determined to review what sanctions, if any, are appropriate in this matter."

The Company has now filed all the remaining outstanding 10-QSB and 10-KSB filings. The remaining 10-QSB filings included the quarter ended December 31, 2003, the six-month period ended March 31, 2004, and the nine-month period ended June 30, 2004. These 10-QSB statements were all filed during the week ended October 7th, 2005.

Lawrence A. Consalvi commented on the Securities and Exchange order, "The SEC has seen fit to review the decision and I am hopeful that we will be successful in our appeal. Furthermore we have filed all of the outstanding 10-QSB's to bring our filings up to date. We continue to work closely with our advisors to resolve any remaining issues that the Corporate Finance division of the Securities and Exchange Commission may have in relation to the financial statements that we have filed. We are anxious to continue our aggressive acquisition plans."

Investor information is available on Gateway International Holdings' website at


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