Los Angeles, CA – (WORLD STOCK WIRE) – February 24, 2010 — Global Entertainment Holdings, Inc. a publicly traded entertainment Company (OTCBB: GBHL), announced that successful motion picture and television producer Daniel A. Sherkow is now the Chief Operating Officer of Global Universal Entertainment, Inc., a wholly-owned subsidiary and the U.S. production arm of GBHL.

GBHL CEO Gary Rasmussen said “Our U.S. film operations will now be lead by a man that knows every facet of the entertainment and motion picture business. Dan has arranged financing and produced successful and award winning films for ABC, NBC and CBS television, Time-Life Films, Paramount Pictures, Tri-Star Pictures, and Dick Clark Productions. Dan has also produced numerous successful Broadway projects and has advised foreign concerns such as Seoul Movie, the Korean animation company and The China Film Group, Corp., the official government agency of The People’s Republic of China, on financing, distribution and production of major motion pictures.”

After graduating from the University of Wisconsin (Milwaukee) with a Bachelor’s degree in Fine Arts (BFA)/Honors, Mr. Sherkow entered the Graduate School of Business Administration at Harvard University where he earned an MBA.

Following senior management positions at NBC Television and Time-Life Films, and then Vice President, Production at Paramount Pictures and Tri-Star Pictures, Mr. Sherkow produced the feature motion picture “SUSPECT,” written by Eric Roth (“FORREST GUMP”) and starring Cher, Dennis Quaid, and Liam Neeson. Mr. Sherkow funded and produced “AMERICAN BUILT”/”RACE FOR GLORY”; and “IMPROMPTU”, which opened to universal acclaim and won the prestigious Houston WorldFest Award as “Audience Favorite”. “IMPROMPTU”, starring Judy Davis, Hugh Grant, Emma Thompson, Mandy Patinkin, Bernadette Peters and Julian Sands, marked the film directorial debut of noted Broadway stage director, Pulitzer Prize and Tony Award winner, James Lapine (“SUNDAY IN THE PARK WITH GEORGE”). Following its theatrical release and extraordinarily successful video/DVD distribution, “IMPROMPTU” was telecast on the prestigious Public Broadcasting System (PBS) show “Masterpiece Theatre”.

Mr. Sherkow recently financed and produced the feature motion picture “BEING MICHAEL MADSEN”, starring Michael Madsen, Daryl Hannah, Harry Dean Stanton, Virginia Madsen, and David Carradine. “BEING MICHAEL MADSEN” was a featured official submission at the largest independent film festival in Europe, the Raindance Film Festival in London, and at the Starz Denver International Film Festival and San Francisco International Film Festival. “BEING MICHAEL MADSEN” was also selected to screen in the prestigious “Outside the Box (Office)” series at the USC School of Cinema in Los Angeles.

Mr. Sherkow has produced the Made-For-TV-Movies “DONOR”, starring Melissa Gilbert and Jack Scalia, as Executive Producer for CBS Entertainment;”ELVIS AND THE COLONEL: THE UNTOLD STORY”, starring Beau Bridges for Dick Clark Productions and NBC; and served as Executive Producer for “ALL LIES END IN MURDER”, starring Kim Delaney and Jamey Sheridan (“LAW AND ORDER: CRIMINAL INTENT”) for ABC-TV.

Broadway stage projects have included “AGNES OF GOD”, starring Elizabeth Ashley and Amanda Plummer, “MY ONE AND ONLY”, starring Twiggy and Tommy Tune, as well as “THE SLAB BOYS” with Sean Penn, Kevin Bacon, Val Kilmer, and Jackie Earle Haley, Jr., which Mr. Sherkow produced on behalf of Paramount Pictures.

GBHL through its partially owned subsidiary, Global Universal Pictures has produced three successful feature length films. Blue Seduction starring Billy Zane and Estella Warren. American Sunset starring Corey Haim and the thriller Plaster Rock. Pre-production activities have started on a fourth feature length motion picture tentatively titled “The Dark.”

Global Universal Entertainment COO, Daniel A. Sherkow stated “Our unique financing strategy coupled with mitigating investor risk has certainly been proven correct. Three major motion pictures financed and completed in less than fifteen months in this uncertain economy speaks volumes as to the GBHL development strategy. GBHL’s first two pictures, Blue Seduction and American Sunset have been successful and we expect continued success and profitability with the Murder/Horror thriller Plaster Rock.”

Mr. Sherkow further stated “Joining the Global Universal team was an easy decision. The people involved with GBHL have, literally, a lifetime of experience in the film business and their reputations are impeccable. I wanted to get in on the ground floor to be a part of building a major motion picture company.”

Global Entertainment Holdings, Inc. is a publicly-held, entertainment company traded on the OTC Bulletin Board under the symbol: GBHL; website: www.Global-GBHL.com. The Company’s goal is building a worldwide entertainment organization with a multitude of domestic and foreign production affiliates. GBHL, through its wholly owned subsidiary, Global Universal Film Group, Inc. (www.GlobalUniversal.com), and its affiliated Canadian subsidiary, Global Universal Pictures, is in the process of developing and producing a slate motion pictures that will be produced in the U.S. and in Canada with recognizable star names, for worldwide release. Information on its recently completed films can be found at: www.AmericanSunsetTheMovie.com, and www.PlasterRockMovie.com.

GBHL is focused on the financing and marketing of these feature-length films. GBHL, through another wholly owned subsidiary, You’ve Got The Part, Inc. (www.YouveGotThePart.com), will attempt to capitalize on the current popularity of Hollywood and reality based programming by casting small roles online that anyone with a digital camera can apply for. Further information on the Company and/or its publicly traded stock can be obtained by contacting Worldwide Financial Solutions at: wfsolutions@gmail.com, or (765) 780-0915. Or, you may contact the company directly at: contact@globaluniversal.com, or by facsimile at: (818) 827-0090.

Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as “expects,” “will,” “anticipates,” “estimates,” “believes,” or statements indicating certain actions such as “may,” “could,” or “might” occur. Such statements reflect the current views of GBHL and its affiliated companies with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance and commercial appeal of its feature-length films, its film production services, competitive market conditions in the motion picture industry (both in the US and foreign markets), successful sale of the rights to film content produced, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Neither Global Entertainment Holdings, nor its affiliate or subsidiary companies undertakes any responsibility to update the “forward-looking” statements contained in this news release.

URL: WWW.GLOBALUNIVERSAL.COM.
Global Entertainment Holdings, Inc.

Global Renaissance Funding, LLC.

Global Universal Film Group, Inc.

At Raleigh Studios
650 N. Bronson Avenue, Suite B-116
Los Angeles, CA 90004 USA
Phone: 323-521-6000