CGI Holding Corporation Announces Intention to Apply for Listing on American Stock Exchange.

LAKE BLUFF, Ill. -- CGI Holding Corporation (OTCBB: CGIH) today announced that the Company intends to apply to list its common stock for trading on the American Stock Exchange. Presently, the Company's common stock is quoted on the OTC Bulletin Board under the symbol "CGIH.OB". Trading on the American Stock Exchange would commence, using a new trading symbol, only if the Company's listing application were to be approved by the American Stock Exchange. There can be no assurance that the Company will be successful in obtaining such an approval of its listing application by the American Stock Exchange, nor can there be any assurance regarding the timing of such a possible approval.

Gerard M. Jacobs, the Company's CEO stated, "CGI Holding Corporation intends to actively seek a listing of our stock on the American Stock Exchange. We appreciate the Amex's straightforward approach and the helpfulness and professionalism of its representatives, and an Amex listing would clearly enhance the visibility and marketability of our stock."

CGI Holding Corporation, based in Lake Bluff, Illinois, currently has one subsidiary, WebSourced, Inc., Morrisville, North Carolina, a leader in search engine marketing (see www.keywordranking.com) and on-line dating (see www.Cherish.com).

Statements made in this press release that express the Company's or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe", "expect", "intend", "estimate", "anticipate", "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. Other factors that could cause the Company's actual activities, results or performance to differ materially include risks and uncertainties relating to: existing and potential litigation; historical losses; likely inability to collect all monies owed to us; acquisitions financing, terms, conditions, and ability to close; volatile stock price; integration of acquired businesses; managing growth; availability of skilled labor and key personnel; weak general economic and business conditions; competition; lack of long-term contracts; lack of brand awareness; client expectations; dependence upon the internet as a means for commerce; governmental regulation or taxation; inability to protect intellectual property; insider control; no dividends; Nevada laws that could discourage transactions involving the Company's stock; and other factors and risks discussed in the Company's filings with the Securities and Exchange Commission. The Company cannot guarantee future financial results, levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.