GEE Global Entertainment Corp.

Global Entertainment Corporation (AMEX: GEE), a company engaged in sports management, arena and related real estate development, facility and venue management and marketing, venue ticketing and brand licensing, announced today that its subsidiary company, Global Properties I, was selected to build a $50 million multi-purpose events center for the �All-American City� of Independence, Missouri, located east of Kansas City. A Letter of Intent was approved yesterday by City Council to utilize the expertise of Global Properties I, in a project to develop a state-of-the-art, multi-use entertainment facility with 5,800 fixed seats, along with 24 luxury suites. Missouri provides a new regional market for Global Entertainment�s (Global) growth on a national level. This is the company�s second announcement within the past 30 days of a new development opportunity to showcase its signature turnkey solution for developing, opening, managing and marketing multi-purpose facilities for mid-sized communities. In addition to Global Properties I, five other Global subsidiaries will serve a broad range of functions for the Independence project. International Coliseums Company will head the design and construction. The Western Professional Hockey League d/b/a the Central Hockey League (CHL) will award a new hockey franchise to serve as the center�s primary tenant. Encore Facility Management will engage in a multi-year agreement to manage the building, along with its licensing and advertising arm, Global Entertainment Marketing Systems, which will handle all sales and marketing services. Finally, GetTix will provide exclusive ticketing services for all events in the Independence arena. The new $50 million multi-purpose events center is anticipated to open in the autumn 2009. The multi-purpose events center will be part of a larger mixed-use development for the citizens of Independence and the surrounding region. Steven J. Bielewicz, president of Global Properties I, said, �We feel fortunate to have received this opportunity in Independence, Missouri. This market has long been an attractive location for us and the CHL. We are extremely confident in the long-term success of this events center for the City and the Citizens of Independence.� Richard Kozuback, president and chief executive officer of Global Entertainment Corporation, stated, �We are pleased with the announcement today that we were selected for a second time within the last 30 days for the development of a multi-purpose events center. Our selection by Independence, Missouri follows closely the announcement of our major role in the development of a multi-purpose events center for Allen, Texas. These are two great communities that we look forward to working with for many years on facility projects to the mutual satisfaction of all. �The arenas planned for Independence and Allen are characteristic of the cross-revenue generating, multi-million dollar projects we are currently presenting to mid-sized communities that fit our profile in a variety of markets throughout the nation. We anticipate further announcements within our current fiscal year,� Kozuback concluded. Visit our web sites: www.globalentertainment2000.com www.centralhockeyleague.com www.coliseums.com www.cragar.com www.gettix.net Global Entertainment Corporation is an integrated events and entertainment company focused on mid-size communities that is engaged, through its seven wholly owned subsidiaries, in sports management, multi-purpose events and entertainment center and related real estate development, facility and venue management and marketing, venue ticketing and brand licensing. The Western Professional Hockey League, Inc., through a joint operating agreement with the Central Hockey League, is the operator and franchisor of professional minor league hockey teams in nine states. International Coliseums Company serves as project manager for arena development while Encore Facility Management coordinates all arena facility operations. Global Entertainment Marketing Systems (GEMS) pursues licensing and marketing opportunities related to the Company�s sports management and arena developments and operations. Global Properties I, in correlation with arena development projects, works to maximize value and development potential of new properties. Global Entertainment Ticketing (GetTix.Net) is an in-house ticketing company for sports and entertainment venues. Cragar Industries, Inc. is the licensor for its nationally recognized, branded products CRAGAR�, TRUSPOKE�, CRAGAR S/S� and STREET PRO�. Certain statements in this release may be "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. Some of the important factors that could cause the company's actual results to differ materially from those projected in forward-looking statements made by the company include, but are not limited to, the following: intense competition within the sports and entertainment industries, past and future acquisitions, expanding operations into new markets, risk of business interruption, management of rapid growth, need for additional financing, changing consumer demands, dependence on key personnel, sales and income tax uncertainty and increasing marketing, management, occupancy and other administrative costs. These factors are discussed in greater detail in the company's Annual Report on Form 10-KSB for the year ended May 31, 2006, as filed with the Securities and Exchange Commission.