Gateway Financial Holdings, Inc.(Investor Relation Report)

Buyside, June, 2003

AVAILABLE ON THE WEB AT www.equityresearch.com

(GBTS--NASDAQ SMALL CAP)

Background

Gateway Financial Holdings, Inc. of Elizabeth City, North Carolina is a financial holding company for Gateway Bank & Trust company, a full service commercial bank established on December 1, 1998. The company had approximately $254 million in assets as of March 31, 2003. In addition to its main office in Elizabeth City, Gateway Bank & Trust company operates branch offices in Plymouth, Roper, Kitty Hawk and Edenton, North Carolina, and two branches each in Chesapeake and Virginia Beach, Virginia. In April 2003, the Bank announced its intention to acquire a Central Carolina Bank branch located in Elizabeth City, which will be its tenth branch office. The...

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