Gary Rasmussen, CEO for Global Entertainment Holdings, remarked that, “With the finalization of our Share Exchange agreement, Global Entertainment Holdings now owns an equity interest in GREG, an indirectly in the Omar Tyree properties, and GREG is now a significant shareholder in our public company, GBHL, providing both GREG and GBHL with a vested interest in one another.”

Last year, Mr. Wylie and Omar Tyree, the New York Times bestselling author, whose works have been read by millions, structured an exclusive deal to adapt his popular novels into film. Leslie, a supernatural thriller set in New Orleans, along with his best seller Flyy Girl are the first of Tyree’s novels to be adapted to film by GREG and to be funded through GRF. Omar Tyree books have been sold and read by over 8 million people. Leslie and loyal Flyy Girl readers will provide a “built-in” audience for the film.

Leslie is intended to be just one of several films planned for production this Fall at the newly formed Wylie Studios in Southeastern Michigan. Arthur Wylie, CEO of GREG, has begun securing production rights from many of Hollywood’s super-producers to produce high quality productions with better pricing. Plans are to operate from the 104-acre studio complex, which is located in the City of Allen Park, just ten miles outside of Detroit, Michigan, until they secure a more permanent site for their productions. What is now the studio complex was formerly the headquarters and warehouses of Montgomery Ward.

The vertical integration of the studio into the production structure of GRF and Global Universal will facilitate many upcoming film productions with reduced labor rates, hefty tax incentives from Michigan and enhanced production scheduling. “This paves the way for our companies to commence working on raising capital and starting the production of films in Michigan”, stated Gary Rasmussen, GBHL CEO.

A recent article in Crains Detroit Business News attests to the fact that Arthur Wylie and GREG have established a major presence in Allen Park, Michigan. “I believe that all businesses must get back to the fundamentals of business, financing and protecting investors’ equity, by utilizing a more efficient combination of debt, equity and tax incentives than typically structured by Hollywood”, stated Arthur Wylie, GREG CEO.

About Global Renaissance Entertainment Group
Global Renaissance Entertainment Group, Inc. (www.theGlobalRenaissance.com), is a full service film and television production company located in Hollywood, CA, Atlanta, Georgia and Allen Park, Michigan. Our primary focus is to develop solid brands that have built in audiences, facilitating the successful release of content across multiple platforms of media. This consists of films originating from Global Renaissance Entertainment Group (GREG), as well as outside content from top production companies. We strategically structure the financing, marketing, distribution and production for films and television content to be released globally. The principals of GREG are currently developing a world-class film studio and entertainment complex in Allen Park, Michigan.
GREG, an Arthur Wylie owned and operated company, has recently joint ventured with Global Entertainment Holdings, Inc., a publicly‐held, fully reporting company whose common stock is traded over the counter (OTCBB: GBHL), creating GLOBAL RENAISSANCE FUNDING, LLC, for the purpose of forming and managing film funds. The principals of GBHL have been in business since 1987, and have produced over 15 feature-length films “on time” and “on budget.”

About GBHL & Global Universal

Global Entertainment Holdings, Inc. (www.Global-GBHL.com) is a publicly-held, entertainment company traded on the OTC Bulletin Board under the symbol: GBHL. The Company’s goal is to build a worldwide entertainment organization with a multitude of domestic and foreign production affiliates. GBHL, through its wholly-owned subsidiaries, Global Universal Entertainment, Global Universal Film Group and its affiliated Canadian company, Global Universal Pictures (www.GlobalUniversal.com), is in the process of developing and producing a slate motion pictures that will be produced in both the U.S. and in Canada with recognizable star names, financed with distribution and tax incentives, with worldwide sales handled through Global Universal Film Group. GBHL and its U.S. subsidiaries are located on the Raleigh Studios Lot in Hollywood, California USA, and Global Universal Pictures, a partially-owned, Canadian affiliate, is located in Fredericton, New Brunswick, Canada. Information on previously completed films can be found on the Company’s website, or on the Internet at: www.AmericanSunsetTheMovie.com, and www.PlasterRockMovie.com.

Global Renaissance Funding (GRF) is a Joint Venture entity formed by GBHL and Global Renaissance Entertainment Group (www.theGlobalRenaissance.com), helmed by Co-CEO Arthur Wylie. GRF intends to finance a slate of films, including films based on several best-selling books written by novelist Omar Tyree. GBHL, through another wholly owned entity, You’ve Got The Part (http://www.youvegotthepart.com), will attempt to capitalize on the current popularity of Hollywood and reality based programming by casting various film roles online. Anyone with access to a digital camera or cell phone will soon be able to submit their audition for a role in an upcoming film.

Coverage of GBHL’s common stock has been initiated by “The Wall Street Corner” (www.wallstreetcorner.com/daily.html). Further information on the Company and/or its publicly traded stock can be obtained from Worldwide Financial Solutions at: wfsolutions@gmail.com, (765) 780-0915; or, directly from the Company 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,” “Hopefully” 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 undertake any responsibility to update the “forward-looking” statements contained in this news release.

Gary Rasmussen, CEO
Global Entertainment Holdings
650 N. Bronson Suite B-116
On the Raleigh Studios Lot
Los Angeles, CA 90004
USA

Phone: 877-807-8880

Note: The following news is from Global Entertainment Holdings, and World Stock Wire, Inc. is not liable for the contents of this news.

Wylie Studios is the latest commitment of Arthur Wylie to the Detroit area.  Expanding and combining his Los Angeles, Atlanta and Charlotte operations, he moved the headquarters of Global Renaissance Entertainment Group to Allen Park earlier this year.  Wylie Institute for the Study of Entrepreneurship (WISE), a Film and New Media Division is located on the campus of Stautzenberger Institute, also in Allen Park.

“The movie industry is blossoming in Michigan, and we are finalizing our location for a major studio complex to meet the needs of our productions,” Wylie said.  ”We have committed our future to movie-making in the Detroit area.”

Michigan is becoming the “hotspot” in American movie production making it the fifth most popular state in the United States for filming.  It has the best film incentive in the United States with a tax credit of up to 42 percent of the production company’s expenditures incurred during film production.  An estimated $325 million has been generated so far in Michigan with more than 87 major film productions and TV projects creating 7,000 jobs.  Films include Gran Torino, Dreamgirls, Transformers, Up In the Air and 8 Mile to name a few.  In 2010, three more major studios are expected to open in Michigan with the number rapidly growing.

Wylie said he hopes that GREG can build the studios at Allen Park alongside his corporate headquarters and education institute but there are several attractive options in the downtown Detroit area. “I have never been more thrilled to be part of a project such as this, because in this instance, we can benefit one of the regions hardest hit by the recent recession,” said Wylie.  ”We hope to add value to these communities by creating opportunities for local businesses while supporting the education and training required for current and future generations of workers to thrive in industries such as entertainment.”

Among producers currently in discussions with Wylie Studios are Mark Ordesky, executive producer of the Lord of the Rings trilogy and Scott Mednick, executive producer of 300 and Superman Returns.

“Detroit is becoming a major film city, and we intend to be a leader as the movie industry grows in Michigan,” Wylie said.

About Global Renaissance Entertainment Group Inc.:

Global Renaissance Entertainment Group Inc. is a full service film and television production company located in California and Michigan.  Its primary focus is to develop solid brands that have built in audiences, facilitating the successful release of content across multiple platforms of media.  This consists of films originating from Global Renaissance Entertainment Group, as well as outside content from top production companies.  We strategically structure the financing, marketing, distribution and production for films and television content to be released globally.

About Wylie Institute for the Study of Entrepreneurship:

Wylie Institute for the Study of Entrepreneurship: Film and New Media Division is a Master Class Program within Stautzenberger Institute.  WISE is dedicated to entrepreneurship in various businesses.  The WISE Film and New Media Division will take the top students in Stautzenberger to develop their entrepreneurial skills, and upon graduation, support them in developing the startup of their own production companies, studios and marketing/PR firms.  An additional goal of WISE is special placement of graduates with established entertainment-related companies.

Contact: Allison Ritter, 1-404-604-2603, aritter@hopebeckham.com

SOURCE Wylie Studios

For Immediate Release …..

October 28, 2009 LOS ANGELES, CA — (WORLD STOCK WIRE) — Global Entertainment Holdings, Inc. (“Global”), a publicly traded entertainment Company (OTC: GBHL), and Charlotte, North Carolina’s Arthur Wylie, CEO, of Arthur Wylie Enterprises (AWE), announced that they have formed Global Renaissance Funding, LLC. (GRF), a joint venture company that will finance, market and partially own a slate of feature-length motion pictures (a Film Fund). Global, operating through its production subsidiary companies, and Wylie’s Global Renaissance Entertainment Group, Inc. (GREG), will produce the motion pictures funded by the new Film Fund. Wylie, a highly successful business investor in film, real estate, and financial service companies, is committed to raising the necessary capital for the Film Fund to finance a proposed slate of motion pictures with aggregate budgets in excess of $100 million.

GBHL CEO, Gary Rasmussen, stated “Joining forces with Arthur Wylie allows Global to partner with Wylie’s financial resources, as well as his film production and marketing companies (GREG), which plans to produce up to 13 mainstream films over the next 3 to 5 years will be distributed worldwide. We are thrilled with our new partnership.”

Last year, Mr. Wylie and Omar Tyree, the New York Times bestselling author, whose works have been read by millions, structured an exclusive deal to adapt his popular novels into film. LESLIE, a supernatural thriller set in New Orleans, is the first of Tyree’s novels to be adapted to film by GREG and funded by GRF. Currently, Leslie is in development for a fall 2010 release.

Global Renaissance Entertainment Group’s CEO, Arthur Wylie, said “The management teams of Global Universal (GBHL), their Canadian affiliate, Global Universal Pictures, and their film sales company, Global Universal Film Group, all have quality reputations in the film industry and a lifetime of experience. Also, their unique financing strategy for funding film projects, while significantly mitigating investor risk, made the decision to join forces an easy one for me.”

Global Renaissance Funding, will serve as the vehicle to raise capital, allowing both production companies, Global Universal and Global Renaissance Entertainment Group, to produce larger budgeted, yet cost efficient mainstream motion pictures for audiences worldwide. Wylie said “I will utilize Global’s successful financial strategy and our well known Arthur Wylie brand, to attract A-List talent, global distribution partners, top-notch production teams, as well as investors for our Film Fund.”

Global Universal Pictures, an affiliated GBHL company, is engaged in the production of lower-budgeted, high quality, genre pictures with recognizable name talent. Jackelyn Giroux, President of Global Universal Pictures said “I am excited to finalize our new joint venture at this time as it will highlight the upcoming world premiere of Global Picture’s new film, “AMERICAN SUNSET” at the American Film Market (AFM) in Santa Monica, CA. Wylie’s proposed slate of feature films, based on proven intellectual properties, capital raising abilities and his team of experienced production personnel, will afford our new venture an unprecedented opportunity to produce and market a continuous flow of quality films for the next several years.”

AMERICAN SUNSET stars former teen superstar Corey Haim, Frank Molina, Bernie Robichaud and Angela Cullins. The film, written and produced by Jackelyn Giroux and directed by Michael Masucci, is a “suspense-filled” turnstile-thriller about a man (Haim) battling his emotional demons amidst his wife’s abduction. AMERICAN SUNSET will premiere at the Laemmle Theatre in Santa Monica, CA on Monday, November 9th. (www.AmericanSunsetTheMovie.com)

Arthur Wylie Enterprises/Global Renaissance Entertainment Group is owned by Arthur Wylie. The brand is one of the hottest celebrity-driven and entrepreneurially-savvy brands in the country. Mr. Wylie’s ventures launched out of his dorm room in college, gaining “millionaire” status by the time he was 26. Wylie is the founder and CEO of Arthur Wylie Enterprises, which has overseen $475 million in assets, transactions, insurance, intellectual properties and real estate over the past 10 years. Arthur Wylie has conducted business globally with many of the top financial and business institutions. His current projects are in film development, speaking engagements, celebrity events, publishing, and international real estate ventures. For more information on the company please visit www.theglobalrenaissance.com or www.arthurwylie.com.

Global Entertainment Holdings, Inc. is a public Company, traded on the “OTC” under the symbol, GBHL. The Company goal is building a global entertainment organization. GBHL, through its wholly owned subsidiary, Global Universal Film Group, Inc. (http://www.globaluniversal.com), and its partially-owned Canadian subsidiary Global Universal Pictures, is in the process of developing and producing a slate of six to eight motion pictures. GBHL is focused on the financing and production of feature-length films, with recognizable names, for worldwide release. GBHL, through another wholly owned subsidiary, You’ve Got The Part, Inc. http://www.youvegotthepart.com, will attempt to capitalize on the current popularity of Hollywood and reality based programming.

Further information on the Company and/or its publicly traded stock can be obtained by contacting Worldwide Financial Solutions at wfsolutions@gmail.com; (765) 780-0915; or, contact the company directly at: contact@globaluniversal.com; facsimile: (818) 827-0090; URL: WWW.GLOBALUNIVERSAL.COM.

SOURCE: Global Universal Film Group, Inc., a wholly-owned subsidiary of

Global Entertainment Holdings, Inc. (OTC: GBHL)