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NEWS and PRESS RELEASES

Global Universal Announces Canadian Broadcast Deal for American Sunset

Los Angeles, CA(WORLD STOCK WIRE) – July 06, 2010 —  Global Entertainment Holdings, Inc. a publicly traded entertainment Company (OTCBB: GBHL), and its Canadian affiliate, Global Universal Pictures (“Global Pictures”), announced that it recently signed a Canadian broadcast deal that will allow Canwest Television Limited Partnership (“Canwest”, successor in interest to Canwest Media, Inc.) to broadcast American Sunset exclusively in Canada. The sale was arranged through Kaleidoscope Entertainment, Inc., based in Toronto, Ontario, Canada, as the Canadian distributor for American Sunset.

GBHL CEO, Gary Rasmussen said “We are pleased to announce this broadcast arrangement with Canwest as it marks the first firm commitment for the film.  American Sunset had an exclusive screening at the Palais during the Cannes International Film Festival this past May and had audiences on the edge of their seats as they experienced the plot twists and turns of this exciting thriller! This prestigious exposure resulted in many potential sales opportunities worldwide for American Sunset, which our sales subsidiary Global Universal Film Group is actively following up on.”  Mr. Rasmussen also stated “making the cover of the Cannes Market News on May 16 during the height of the Cannes festival garnished considerable international attention for American Sunset.  Since this film is a product of Canada, and the late Corey Haim’s birthplace, it is truly fitting that we commence our subsequent sales efforts with a country wide broadcast for all Canadians to see.”

American Sunset starring the late Corey Haim and Frank Molina was directed by Michael Masucci and was also featured at the Canadian Pavilion at this year’s Cannes International Film Festival.  Eric A. Leffler, executive producer, commented, “This was Corey Haim’s last film and we’re all delighted that his abilities as an adult lead actor were finally recognized during the exclusive screening of American Sunset at the Cannes festival. Audiences in France identified with Corey’s character and the harrowing experiences his character underwent, all skillfully portrayed by Corey as a matured actor.  Hopefully soon, audiences worldwide will have the opportunity to enjoy his work and appreciate his special talent.”

During the Cannes International Film Festival, producer Jackelyn Giroux commented, “Myself, as well as the entire cast and crew, were deeply saddened by his untimely passing. Corey dubbed himself the ‘Comeback Kid’.  Although he is gone, we are pleased that Canadians will have the first opportunity to enjoy Corey’s comeback efforts and see his great performance in this exciting film.”

About Canwest

Canwest (www.canwest.com) (TSX-V: CGS and CGS.A) is Canada’s largest media company. Representing a portfolio of world-class brands, the Company creates and distributes some of the most compelling and dynamic content across multiple media platforms. The company owns and operates a conventional television network, Global Television, and 18 industry-leading specialty channels and holds ownership interest in 5 specialty channels.  Canwest is headquartered in Winnipeg, Manitoba, Canada.

About GBHL & Global Universal

Global Entertainment Holdings, Inc. (www.Global-GBHL.com) is a publicly-held, entertainment company traded on the OTC Bulletin Board under the symbol: GBHL.  The Company’s goal is to build a worldwide entertainment organization with a multitude of domestic and foreign production affiliates.  GBHL, through its wholly-owned subsidiaries, Global Universal Entertainment, Global Universal Film Group and its affiliated Canadian company, Global Universal Pictures (www.GlobalUniversal.com), is in the process of developing and producing a slate motion pictures that will be produced in both the U.S. and in Canada with recognizable star names, financed with distribution and tax incentives, with worldwide sales handled through Global Universal Film Group.  GBHL and its U.S. subsidiaries are located on the Raleigh Studios Lot in Hollywood, California USA, and Global Universal Pictures, a partially-owned, Canadian affiliate, is located in Fredericton, New Brunswick, Canada. Information on previously completed films can be found on the Company’s website, or on the Internet at: www.AmericanSunsetTheMovie.com, and www.PlasterRockMovie.com.

Global Renaissance Funding (GRF) is a Joint Venture entity formed by GBHL and Global Renaissance Entertainment Group (www.theGlobalRenaissance.com), helmed by Co-CEO Arthur Wylie.  GRF intends to finance a slate of films, including films based on several best-selling books written by novelist Omar Tyree. GBHL, through another wholly owned entity, You’ve Got The Part (http://www.youvegotthepart.com), will attempt to capitalize on the current popularity of Hollywood and reality based programming by casting various film roles online.  Anyone with access to a digital camera or cell phone will soon be able to submit their audition for a role in an upcoming film.

Coverage of GBHL’s common stock has been initiated by “The Wall Street Corner” (www.wallstreetcorner.com/daily.html).  Further information on the Company and/or its publicly traded stock can be obtained from Worldwide Financial Solutions at: wfsolutions@gmail.com, (765) 780-0915; or, directly from the Company at: contact@globaluniversal.com.

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,” “Hopefully” 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 undertake any responsibility to update the “forward-looking” statements contained in this news release.


Global Entertainment Holdings, Inc.
Raleigh Studios Lot
650 N. Bronson Ave., Suite B-116
Los Angeles, CA 90004  USA

Phone:   877-807-8880

Fax:        818-827-0090

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