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NEWS and PRESS RELEASES

Global Entertainment Holdings Promotes Daniel Sherkow to Chief Operating Officer

Los Angeles, CA – February 20, 2013 – Global Entertainment Holdings (OTC: GBHL) is pleased to announce the promotion of Daniel A. Sherkow to the position of Chief Operating Officer of GBHL, the parent company. Previously, Mr. Sherkow held the position of COO of Global Universal Entertainment, a subsidiary of GBHL.

In making the announcement of Sherkow’s promotion, Gary Rasmussen, Global Entertainment Holdings CEO, cited Sherkow’s dedication and innovative ideas in the company’s continued expansion. Rasmussen stated, “We greatly value Dan’s creative approaches to our expansion plans at GBHL and look forward to his involvement in all aspects of the management and growth of the company where he will have a larger role.”

Sherkow stated, “Global Entertainment Holdings is poised for future growth with some extraordinary productions and programs such as our affiliation with the Lifton Institute of Media Arts and Sciences (LIMS) and the relaunch of the social networking website and mobile app, ‘You’ve Got the Part.com’. I couldn’t be more pleased than to be working with Gary, Jackie (Giroux), and Alan (Bailey) on these exciting opportunities at Global 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., 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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