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NEWS and PRESS RELEASES

Global Entertainment Holdings Announces “Plaster Rock” Now Available on DVD

December 22, 2010, Los Angeles, CA — Global Entertainment Holdings, Inc. (OTCBB: GBHL) announces the commercial release of the latest movie, “Plaster Rock – Terror on the Tobique”, produced by its Canadian affiliate, Global Universal Pictures. The film is being released by another subsidiary, Global Universal Film Group. “We are excited to be releasing this film to the public”, stated GBHL CEO, Gary Rasmussen. He continued “revenues from the release of American Sunset are being realized in this fiscal quarter and now Plaster Rock will ramp up revenues in the first quarter of 2011. Our previous film, American Sunset, starring the late Corey Haim, is scheduled to be released as an AppFlik on Apple iTunes before year end and, depending on how well it is received, we will also consider releasing Plaster Rock as an AppFlik.” The Plaster Rock DVD, along with a Free Plaster Rock Hat, is now available at: www.PlasterRockMovie.com.

“Plaster Rock – Terror On The Tobique”— Based upon events that actually occurred near the filming location, four young men and women are boated into a hunting lodge in the wilds of northern New Brunswick, Canada to partake in a cross country ski race in which the winner will reap a cash prize of $250,000. Each contestant is a former athlete or high-profile celebrity who has already received a deposit of $25,000 for their time just to travel and enter the race in the desolate area known as “Plaster Rock.” The only problem is, once left at the lodge by boat, there is no way out, and each contestant begins to realize they have more at stake than the cash prize.

Plaster Rock is a fast-paced thriller-horror film which takes place in remote wilderness where you need more than luck to survive!

Jackie Giroux, the film’s co-creator and director, commented, “…the use of a professional magician as an integral part of a films’ plot is very rare. What makes our film unique is, we utilized the world renown talents of Peter Loughran, Master of Illusions. Peter has created original Illusions for top magicians around the world including Criss Angel for the popular television program called “MindFreak!” Peter gives an amazing performance in Plaster Rock.”

Peter Loughran states, “It was really a thrill for me to take a break from designing magic and illusions, and sharpen my acting skills to become one of the central characters in “Plaster Rock.” My character was based on one of the oldest unsolved mysteries in New Brunswick, so it was equally challenging to research ‘this very real psycho’ and sink my teeth into a very meaty role, while creating many of the illusions in the film..” Peter’s site www.masterofillusions.ca has over three thousand fans.

The femme fatale, Lalesha Railsback, is no stranger to horror films, since her father, veteran actor Steve Railsback, played Charles Manson, of the critically acclaimed film Helter Skelter. Ms. Railsback commented, “My dad has always been a method actor, and I have learned so much from his days at The Actors Studio.” Lalesha has been acting since she was fifteen years old, and co starred in movies such as Coo Coo Cafe with Barbara Carrera (directed by her Mom, Jackie Giroux), and The Mondavi Gang, which she co-directed. Most recently, she co-stars in another Global Universal film produced by Jackie Giroux, and currently in post production, The Night, which is due to be released in February of 2011. “Global Universal has been so dedicated to the up coming new talent, and enabled us to work together as a family, which is rare in the film business today”, added Lalesha Railsback.

Plaster Rock had a limited theatrical release at the Grand Falls Cinema Three, with Iron Man 2 and Nightmare on Elm Street, in May of 2010. Both Kirk Davidson, of K-93 FM Radio, and Kelsey McDonald of The Victoria Star News, gave Plaster Rock very favorable reviews.

About Global Entertainment Holdings, Inc. (OTC: GBHL) is a publicly-held, entertainment company (www.Global-GBHL.com). The Company’s goal is to build a worldwide entertainment organization with a multitude of domestic and foreign production affiliates. GBHL, operating through its wholly owned subsidiaries, Global Universal Film Group, Inc., Global Universal Entertainment, Inc., and its partially-owned Canadian subsidiary Global Universal Pictures (www.GlobalUniversal.com), is in the process of developing and producing a slate of motion pictures in Canada and the U.S., employing recognizable-named talent, for worldwide release. 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.

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 affiliated or subsidiary entities undertakes any responsibility to update the “forward-looking” statements contained in this news release.

For more information, please visit us at: WWW.GLOBALUNIVERSAL.COM, or contact the Company by email at: contact@globaluniversal.com.

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