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Global Entertainment Holdings Signs Collaboration Agreement with Hollywood Entertainment EDU Holding

Los Angeles, CA – February 5, 2013 – Global Entertainment Holdings (OTC: GBHL) and Hollywood Entertainment EDU Holding, Inc. (“EEDU”) are pleased to announce the signing of an exclusive Collaboration Agreement setting the stage for joint venture projects to be undertaken in both the U.S. and China.

Through its affiliated office in Beijing, EEDU is primarily in the business of designing, facilitating, promoting, managing, and operating educational and training programs for Chinese students and management personnel in the entertainment industry and who wish to undertake such training in the United States. The partnership with Global Entertainment will enlarge and develop the business of EEDU to place students in such programs and will also allow Global Entertainment and EEDU to jointly engage in the co-production of live action feature motion pictures, as well as 3D animation and video game creation.

In announcing the signing of the Agreement, Gary Rasmussen, Global Entertainment Holdings CEO, stated, “The collaboration with Hollywood Entertainment EDU Holding gives Global Entertainment a tremendous advantage in the realm of co-production/co-financing while fulfilling a mission to train and educate Chinese students in the advanced methods of film and video production.”

The executive management of EEDU added, “We are thrilled to find such an accomplished and reliable partner in Global Entertainment and we look forward to jointly engaging in several exciting projects both in China and here in the U.S.”

Daniel Sherkow, Chief Operating Officer of Global Entertainment Holdings stated, “Our initial meetings with the senior executives of EEDU have already spawned initial concepts for not only student training, but also for co-production/co-financing opportunities of feature motion pictures. This is a tremendously exciting collaboration with EEDU, a significant partner doing business on both the US and China.”

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.

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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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