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NEWS and PRESS RELEASES

GBHL Expands Global Universal Film Group

NEW DISTRIBUTION DIVISION TO BE HELMED BY MEDIA EXECUTIVE, BOBBIE STONE

Los Angeles, CA – (August 2, 2011) – Global Entertainment Holdings (OTCQB / OTCBB: GBHL) announced today that its sales and distribution subsidiary, Global Universal Film Group, Inc. is expanding the Distribution Division to reach new ground in the distribution of media content for the Company. The Distribution Division will be helmed by Bobbie Stone who will oversee new content acquisitions, exploitation of new media markets, and worldwide licensing of the Company’s films through traditional media.

Bobbie Stone is a renowned distributor and producer/director with more than 20 years experience in the creation, licensing, acquisition, and distribution of independent films and online media content in the global marketplace. Through the years, Ms. Stone has produced or executive produced over 250 special interest video and TV productions which have had wide release.

“We are thrilled to have a talent with the caliber of Bobbie Stone join the Global Universal family,” Stated Gary Rasmussen, CEO of GBHL. He continued “with Global’s current film library, new acquisitions, New Media markets, worldwide licensing, and our exclusive brands such as “You’ve Got the Part” talent contest to oversee, she will have many opportunities to use her extensive talents. We are excited to expand our content to a variety of media channels that reaches more markets and expands business.”

Bobbie gained valuable knowledge in television broadcasting and production at a local television station. She then became VP of an independent broadcast network where she produced or was floor director of TV productions in the studio. The company then opened an office on Madison Avenue for Stone to run the marketing, sales, and distribution division for the network. Meanwhile Ms. Stone sharpened her production skills while attending New York School of Visual Arts majoring in filmmaking and directing. The next level of her career was in DVD as the exclusive sales agent for a large DVD distributor. Ms. Stone handled the 2,000 title catalog of movies, documentaries, lifestyle and special interest content for release to DVD, TV and ancillary media worldwide. While there she also produced straight to DVD content in a production output deal with the studio. The next stage was to open her own distribution company, Indie Vision Films, where she licensed hundreds of independent films for release in the global marketplace on TV, broadband, and DVD.

Ms. Stone took her experience to the New Media marketplace with the production of original lifestyle webisodes, the development of an Internet TV network, and the marketing, syndication, and streaming of content in the New Media arena.

As a film distributor and sales agent Bobbie has represented thousands of indie films and video content in the DVD, TV, and Broadband market worldwide.

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, 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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