Gateway Access Solutions, Inc. Has Entered Into a $345,000 Private Placement Agreement With North American Funding, Inc.

Gateway Access Solutions, Inc. announced today that it has entered into a subscription agreement with North American Funding, Inc., a Texas-based firm, to sell 2,300,000 shares of its restricted common stock at a purchase price of $0.15 per share in a private placement, for total proceeds of $345,000. The Company will use the funds for working capital needs. As part of the transaction, the Company has agreed to sell up to an additional $655,000 worth of its common stock to this investor at a 10% discount to the market price of the shares at the time of purchase by the investor. The purchaser's right to purchase the additional shares expires six months after the date of closing of the initial private placement.

About Gateway Access Solutions, Inc.

Gateway Access Solutions, Inc. currently trading on the OTC under the symbol GWYA, provides tailored broadband solutions to businesses of all sizes in small to mid-sized communities throughout the United States. These underserved markets represent billions of dollars in annual revenues for those companies currently "rolling over" their proprietary and licensed markets. Gateway Access Solutions is headquartered in Carson City, NV, and is currently providing solutions in the Danville, Scranton and Wilkes-Barre, PA, as well as in Albuquerque, NM. For more information, contact the company at 775 841-7442 or visit the Web site at www.GatewayAccessSolutions.com.

Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.

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