EXHIBIT 99.7
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GATEWAY INTERNATIONAL  HOLDINGS RELEASES RECORD FINANCIAL RESULTS FOR Q1 AND Q2,
2005

ANAHEIM, CA, May 6, 2005 - Gateway International  Holdings, Inc. (OTC: GWYI) has
released  numbers for the 3-month ended and 6-month ended periods of its current
fiscal  year.  The numbers  reflected  in this  release  include  the  following
subsidiaries:  Elite Machine Tool Company,  Eran  Engineering,  All-American CNC
Sales, Accurate Technology, and Spacecraft Machine Products.

For the  3-month  period  covering  October 1, 2004 thru  December  31, 2004 the
Company  reported  Total  Sales  totaling  $3,123,356.  Cost  of  Sales  totaled
$2,063,733,  resulting in a Gross Profit of  $1,059,623,  a Gross Margin of 34%.
Operating Expenses totaled $651,638, resulting in Pre-Tax Income of $407,985 for
the quarter, a Pre-Tax Profit Margin of 13%.

For the 6-month period covering  October 1, 2004 thru March 31, 2005 the Company
reported Total Sales of $9,021,450. Cost of Sales totaled $5,981,283,  resulting
in a Gross  Profit of  $3,040,167,  a Gross  Margin of 34%.  Operating  Expenses
totaled $1,914,846 and net miscellaneous expense totaled $136,101. For the first
half of the year,  Pre-Tax Income totaled  $989,580,  a Pre-Tax Profit Margin of
11%. The reported  financials  result in $0.025 Earnings per Share for the first
six months.

Gateway International's CEO, Larry Consalvi, commented on the financial results.
"We are certainly pleased with our results for the first half of the fiscal year
as we surpassed  last years Pre-Tax  profit numbers in the first quarter of this
year.  We continue to strengthen  our portfolio and hope to further  improve our
business,  our  competitiveness and our financial results during the second half
of the  year." He  continued  by  saying,  "The  results  of adding  established
businesses  to our  portfolio  over the last 6 months are only  beginning  to be
recognized.  Although we have experienced some success along the way, we are not
sitting back relying on past  results.  Rather,  we continue to look for new and
exciting  opportunities to bring  additional  value to the Company."  Additional
information  on Gateway  International  Holdings is available  on the  Company's
website,  www.gwyi.com  and via their  Investor  Relations and Capital  Advisory
firm, First Capital  Investors,  at  www.firstcapitalinvestors.com.  An investor
fact  sheet  for  Gateway  is   available   free  of  charge  for   download  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

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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.

SOURCE: Gateway International Holdings, Inc.

Investor Relations:
Dante Panella
First Capital Investors, Inc.
www.firstcapitalinvestors.com
407-656-9600 x 107
GWYI@firstcapitalinvestors.com