SOURCE: Gateway International Holdings, Inc.

August 17, 2005 07:05 ET

Gateway International Reports Financials for Q3 and YTD

ANAHEIM, CA -- (MARKET WIRE) -- August 17, 2005 -- Gateway International Holdings, Inc. (OTC: GWYI) has filed numbers for the 3rd quarter and for the 9-month period ending June 30, 2005, via a 10-QSB filing with the Securities and Exchange Commission.

For the 3-month period ending June 30, 2005, the Company reported total sales of $6,143,331. This compares with the prior year Q3 of 2,048,350. Q3 2005 pre-tax profit came in at $499,713. Allowance for tax liability of $99,028 was taken resulting in a net income totaling $400,685 versus $205,172 for Q3 2004. The profit figure resulted in a $0.01 EPS for the quarter.

For the 9-month period covering October 1, 2004 thru June 30, 2005, the Company reported total sales of $14,385,014, versus $4,858,110 for the first 9 months of 2004. Pre-tax profit totaled $2,062,417, a pre-tax margin of 14.3%. Allowance for tax liability of $726,575 was taken for the 9-month period, resulting in net income of $1,335,842 versus $184,526 for the same period from a year ago. The reported profit resulted in $0.0359 EPS for the first 9 months of operations versus $0.00555 from the prior period and represents an increase in earnings per share of 547% based on weighted average of shares outstanding.

Gateway's CEO Larry Consalvi commented on the results, "We are pleased to be progressing towards all of our stated goals. We look forward to finishing the year strong and improving on these excellent results."

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

"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.

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