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NEWS and PRESS RELEASES

Global Entertainment Holdings Announces Appointment of Alan Bailey as CFO

Los Angeles, CA – January 15, 2013 ‐ Global Entertainment Holdings (OTC: GBHL) has announced the appointment of Alan Bailey, who will function as GBHL’s Chief Financial Officer and oversee accounting functions for the Global Universal group of subsidiary entities. Mr. Bailey supersedes Stanley Weiner, who continues to serve as a director of the Company.

Bailey brings a well of financial experience to Global Universal having spent over 35 years at Paramount Pictures (division of Viacom Industries), most recently as Senior Vice President and Corporate Treasurer.

In making the announcement, Gary Rasmussen, Global Entertainment Holdings CEO, stated, “Alan’s extraordinary experience as a senior financial executive at a major media power, as well as his extensive relationships within our industry, will help accelerate Global Universal’s growth as a successful media company that looks to the bottom line profits while seeking to minimize risk for our investors.”

Jointly, Bailey commented, “Global Universal is an exciting opportunity and I look forward to working with an experienced and proven management team like Gary, Jackie (Giroux), and Dan (Sherkow), who understand and appreciate the challenges and opportunities in an industry with significant revenue potential and upside growth in assets.”

Daniel Sherkow, Chief Operating Officer of Global Universal Entertainment stated, “It’s pleasure to team up with Alan again, having worked with Alan at Paramount where both of us were senior executives. I’m confident that Alan understands how to best move Global Universal forward not only financially, but also in all of the other facets of our operation. I’m excited that we have been able to put into place a superb piece of financial manpower.”

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., and Global Universal Entertainment, Inc., 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.

For more information, please visit us at: WWW.GLOBAL-GBHL.COM, or contact the Company by email 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,” 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 undertakes any responsibility to update the “forward-looking” statements contained in this news release.

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