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“American Sunset” Released on iTunes as an “AppFlik”

Los Angeles, CA – (February 24, 2011) – Global Entertainment Holdings (OTCBB: GBHL) announced today that its sales and distribution subsidiary, Global Universal Film Group, has released its feature movie “American Sunset” staring  the late Corey Haim  as an AppFlik on Apple’s (AAPL) iTunes App store. AppFlik” is the new embedded application technology for movie distribution from Stonehenge Level4 Development Partners. The application is a FREE download and differs from current streaming resources in that it functions as an embedded movie to prevent piracy. The movie is loaded into an application with social networking capabilities that interact with viewers worldwide. Security against theft is greatly enhanced, there are no streaming or buffering issues, and the delivery is a hi-resolution viewing experience.

According to Gary Rasmussen, CEO of Global Entertainment Holdings, “The digital distribution of movies is highly efficient, cost effective and profitable. Delivery is fantastic – our films will be available to consumers any place, at any time, with no packaging, no shipping or logistics to worry about. Plus, the security features of AppFlik™ solve the challenges of getting safe electronic distribution of our movies.”  Mr. Rasmussen continued “it took a little longer than expected to get it on iTunes, but when you download the free app you will see that it was worth the wait! Now that we got through the process for the first film, others should be much faster.” Level 4 Distribution is a digital distribution company engaging new technologies using apps as its new media platform. New media distribution is the next way to monetize content through smart phones, tablets, Google TV, and other new media platforms that use media-rich apps. This ‘fourth-level’ of distribution can be used for both older content that is looking for a new way to bring revenues as well as new content that desires to enhance its market reach.

The AppFlik™ is being marketed initially through iTunes since the very successful iPhone and iPad is currently the viewing screen of choice. However, with the introduction of other platforms (i.e. Google TV, Apple’s iTv, DroidX, etc.), the sky is the limit for this form of digital distribution.

The user’s cost of the app will depend on the amount of layers in the app itself. Starting at 4.99 and up, the apps can be quickly monetized to the content owner since the ROI is higher than other distribution methods. Cost to the content owner is a onetime reasonable cost whether it is a line item on a budget or a onetime fee to build it.

Stonehenge Level4 Development Partners create Apps that help film makers build awareness and broaden their distribution channels. The Apps include the film, as well as rich media features such as digital books, behind the scenes clips, trailers, news, and social media capabilities for mobile devices such as the iPad, iPhone, iTouch, as well as Android phones like the EVO 4g, G3 and Droid.

About Global Entertainment Holdings, Inc. (OTC: GBHL) is a publicly-held, entertainment company. 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, 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.GLOBAL-GBHL.COM, or contact the Company by email at: contact@globaluniversal.com.

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