GBTS Gateway Finl Hldgs (MM)

- Opening Brings Gateway Network to 22 Offices - ELIZABETH CITY, N.C., April 24 /PRNewswire-FirstCall/ -- Gateway Financial Holdings, Inc. (NASDAQ:GBTS), the holding company for Gateway Bank & Trust Co., has announced the opening of its third financial center on the Outer Banks in North Carolina. The addition of this branch in Kitty Hawk, N.C. brings Gateway's network to 22 offices throughout North Carolina and Virginia. D. Ben Berry, chairman and chief executive officer of Gateway Financial Holdings, commented, "The thriving Outer Banks area is an example of the high- quality locations we select in Virginia and North Carolina to provide local residents and businesses with solid financial expertise coupled with our individualized customer service approach." The new Kitty Hawk branch opened Thursday, April 20 and is located at 5406 North Croatan Highway. About the Company Gateway Financial Holdings, Inc. is the parent company of Gateway Bank & Trust Co., a full-service regional community bank with a total of 22 offices - - 11 in Virginia: Virginia Beach (6), Chesapeake (2), Suffolk, Norfolk and Emporia; and 11 in North Carolina: Elizabeth City (3), Edenton, Kitty Hawk (2), Moyock, Nags Head, Plymouth, Roper and Raleigh, and a private banking center in Raleigh. The Bank also provides insurance through its Gateway Insurance Services, Inc. subsidiary and brokerage services through its Gateway Investment Services, Inc. subsidiary. As of December 31, 2005, Gateway had assets of $882.4 million. The common stock of the Corporation is traded on the Nasdaq National Market under the symbol GBTS. For further information, visit the Corporation's web site at http://www.gwfh.com/ . DATASOURCE: Gateway Financial Holdings, Inc. CONTACT: Lynn Polizos of P+G Communications, +1-757-641-7357, or , for Gateway Financial Holdings, Inc. Web site: http://www.gwfh.com/

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