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NEWS and PRESS RELEASES

“Down The Stretch” A Global Universal Entertainment Film Production

LOS ANGELES, April 23, 2012 /PRNewswire/ — Global Entertainment Holdings, Inc. (OTC: GBHL/GBHLE) announced today that its wholly-owned U.S. production subsidiary Global Universal Entertainment, Inc. has agreed to produce “Down The Stretch“!  Writer and Director Geoffrey Rush protege, Matthew D. McClure (Award winning short director of “Julio”), brings this new and exciting action crime adventure project which is sure to thrill audiences. It is a story of the fading world of the race track and a young gambler’s seduction into a big long shot. It is a true “Calling all Bruce Lee Fans” film, as legendary actor John Saxon and Bolo Yeung team up for the first time in 40 years since their classic duo with Bruce Lee in “Enter The Dragon.”

Saxon joins the cast in a quorum of a wild bunch of raw talented American film nominees! Negotiations for the legendary ensemble cast are under way — from Dreyfuss to Dern, to Railsback to Keitel and Mickey Rooney, are names under consideration.  The Film will star two young lead actors as Eric and Ty, in the film noir about betting on horses and on life.

Writer/director Matthew D. McClure (“Julio”) will produce with Lalesha Railsback (“The Mondavi Gang”) and Barrett Leigh (Production Coordinator on “The Fast and The Furious” and “Knocked Up”). “There will be no shortage of great production talent on this film. No effects. No CGI. Just a first rate cast of past Film Nominees, plus a stellar screenplay which will reach out to all audiences, worldwide,” stated Jackleyn Giroux, who helmed the deal for Global Universal Entertainment.

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 recognizably-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 U.S. 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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