EXHIBIT 99.5

Gateway International Holdings Reports Record Results for 2004

Anaheim,  California - November 8, 2004 - Gateway International  Holdings,  Inc.
(OTC: GWYI) has released its year-end  financial results for 2004. The Company's
fiscal year runs from October 1st through  September 30th.  Results are reported
on both a consolidated  and  subsidiary  basis.  The Company  currently has four
operating  subsidiaries:  Elite  Machine Tool  Company,  Eran  Engineering,  All
American CNC Sales and A-Line Capital.

For the 2004  financial  results that follow,  only Elite  Machine Tool and Eran
Engineering are included.

On a  consolidated  basis,  the Company  reported  record  annual  sales for the
Company  totaling  $7,445,240.  Net income  before taxes for the year was also a
record, coming in at $726,990, a pre-tax margin of 9.8%.

On a  subsidiary  basis,  Elite  Machine Tool posted total sales for the year of
$4,015,587.  Profit before taxes was $289,551,  a net pre-tax margin of 7.2%. At
Eran  Engineering,  annual sales  totaled  $3,426,653.  Net income  before taxes
totaled $437,439, a net pre-tax margin of 12.8%.

Pre-tax  earnings per share for the year  totaled 2.3 cents per share,  based on
31,966,000 shares outstanding.

Financial Note: On September 29th 2004, the Company announced the acquisition of
All  American  CNC Sales.  Financial  results for All American CNC Sales will be
included in the 2005 numbers  beginning October 1, 2004. On October 7, 2004, the
Company announced the formation of A-Line Capital Corporation. Financial results
for A-Line Capital will be reported  beginning  with October 2005  financials as
well.

The Company is preparing to audit the year-end  financials.  Once the audits are
completed,  financial results will be available to all interested parties on the
company's website at www.gwyi.com.

CEO Larry  Consalvi  commented on the year-end  results.  "We are pleased in our
year-end  results.  We  continue  to build a  portfolio  of  cash-flow  positive
companies.  For 2004  only  Elite  Machine  Tool  Company  and Eran  Engineering
contributed  to our financial  results.  As we continue to grow  internally,  we
believe  that we are on tract to meet or exceed  our  financial  goals for 2005.
Additionally,  we  anticipate  further  improvements  by adding All American CNC
Sales and A-Line Capital to our financial results for 2005."
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"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.

Source: Gateway International Holdings, Inc.

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