PRESS RELEASE

Global Entertainment’s Film Group To Produce “Purgatory”

A Feature Film Based On J. Costa’s Short Film And Recent Audiobook Release

Los Angeles, CA – July 18, 2016 – Global Universal Film Group, Inc., a wholly-owned subsidiary of Global Entertainment Holdings (OTC: GBHL), has announced the acquisition of the rights to J. Costa’s psychological horror/thriller “Purgatory” for production as a feature-length, motion picture.

J. Costa’s “Purgatory” features “Dave”, a serial killer with heart, whose dispensation to discuss his nature while reflecting upon his sins, seems to relish in the beauty of his control over life and death. Adding to this chilling scenario is the sheer horror experienced by his still living captives, who bear witness to his confession.

“Purgatory” was an Official Selection at the Cannes International Film Festival; won Best Horror Short at the New York International Film Festival; and Best Short Film, Audience Choice Awards.

Jackelyn Giroux, President of Global Universal Film Group, who will shepherd the production of this film, commented, “J. Costa’s extraordinary talent in conceiving, writing, directing and then bringing the characters to life on the screen, can only be described as visionary. It deserves the big canvas of a fulllength feature film, where the result will simply terrify you!”

J. Costa stated, “Words can’t begin to express my excitement regarding the partnership between Global Entertainment and myself. The expertise and creativity that Jackie Giroux and the rest of the Global team bring to a project like Purgatory is second to none. By bringing the characters Dave, Judas and Mya to life (from the pages of the book Purgatory), it is our hope that their story, their lives and the controversial events that created them, will not only resonate with audiences on a “human” level, but will also unnerve people in a fashion that will allow them to see the world around themselves in a very different light.”

In addition, the film plans to make use of a unique and innovative new crowd promotion and online casting platform, “You’ve Got the Part,” currently being developed by Global Entertainment. You’ve Got the Part (© 2014 and TM2013), allows anyone desiring to have a role in this film the ability to audition via their cell phone, tablet or web cam, with winners being selected by the number of “Likes” on various social media websites.

Gary Rasmussen, CEO of Global Entertainment, added, “As in all of our film projects, we want to add value for both the audience and our shareholders. In this way, we are confident that “Purgatory” will be entertaining, as well as profitable.”

A Video Clip highlighting the upcoming film “Purgatory”, using Global Entertainment’s You’ve Got the Part, can be viewed at the following link: https://vimeo.com/175430955

Fans of J. Costa and his “Purgatory” can learn more about this upcoming feature film and listen to sound clips via J. Costa's social media presence at:

Website: http://jcosta.squarespace.com

Twitter: https://twitter.com/JCosta1914

Facebook: https://www.facebook.com/JCostaPurgatory/

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 and distribution affiliates. GBHL, operating through its wholly owned subsidiaries, Global Universal Film Group and Global Entertainment Film Fund, 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.YGTP.net), 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 affiliates or subsidiary companies, undertakes any responsibility to update the "forward-looking" statements contained in this news release.