Payment Services Interactive Gateway Corp. announces results for the three months ending June 30, 2007



    MISSISSAUGA, ON, Aug. 23 /CNW/ - Payment Services Interactive Gateway
Corp. ("PSiGate") (TSX Venture Exchange: PSG) today reported its interim
consolidated financial statements for the three months ending June 30, 2007.

    
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                                 Highlights
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    -  Cash of $1,692,523
    -  Revenue up 24% to $1,242,444
    -  Gross Profit increased to 58.1% (from 55.4%)
    -  EBITDA of $286,915
    -  Net Income of $187,627
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    Anthony Palumbo, President & CEO commented: "We are pleased with this
quarter's accomplishments and revenue and profit performance. In looking at
the results, if $52,600 comprising of a non-cash charge relating to foreign
currency translation and one time professional fees relating to a previously
announced acquisition are backed out of expenses, then the resultant second
quarter net income and EBITDA becomes more reflective of PSiGate's operating
performance. Second quarter 2007 gross profit increased 2.7% to 58.1%, sales
continued their upwards trend and EBITDA remained strong. We also look forward
to completing the proposed transaction with Home Capital Group Inc. previously
announced on August 16, 2007".
    The Interim Financial Statements and Management Discussion and Analysis
are available at www.sedar.com

    About PSiGate

    PSiGate (www.psigate.com) empowers businesses on the Internet by
providing secure, cost-effective and trusted e-commerce solutions. PSiGate
provides an easy and seamless interface to new or existing online storefronts,
offering a reliable means of both real-time and batch payment collection and
financial transaction processing. PSiGate provides Internet Merchant Accounts
(Merchant IDs) for North American based businesses. As at the date of this
press release, the Company has 10,574,469 common shares outstanding.

    This document may contain forward-looking statements, relating to the
Company's operations or to the environment in which it operates, which are
based on PSiGate's operations, estimates, forecasts and projections. These
statements are not guarantees of future performance and involve risks and
uncertainties that are difficult to predict, and/or are beyond PSiGate's
control. A number of important factors could cause actual outcomes and results
to differ materially from those expressed in these forward-looking statements.
These factors include those set forth in other public filings. Consequently,
readers should not place any undue reliance on such forward-looking
statements. PSiGate disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.




For further information:

For further information: on Payment Services Interactive Gateway Corp.,
please contact Anthony Palumbo at (905) 567-4000, ext. 241

Organization Profile

PAYMENT SERVICES INTERACTIVE GATEWAY CORP.

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PSIGATE

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