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, today announced that its Board of Directors has retained the financial advisory firm Miller Capital Corporation and their affiliate investment banking firm Miller Capital Markets, LLC (Miller) to advise and assist in actively exploring a range of strategic, value creation opportunities available to the company. The strategic alternatives the company may pursue could include, but are not limited to, continued execution of the company�s current operating plan, operating under a revised business plan, licensing or development arrangements, capital structure review, identification and evaluation of strategic partnerships or other collaboration agreements, business combination transactions or the sale of some of the company�s assets. This entire evaluation will be conducted with the goal of exploiting the company�s potential and maximizing shareholder value. During this process, the company will be continuing with all of its current business engagements in addition to examining new opportunities. Chairman of the Board W. James Treliving stated, �The Board is mindful of the near term challenges facing the company, however Global Entertainment is at a critical stage in its growth cycle and therefore, it is prudent for the company to consider alternatives to the status quo. Miller is an excellent firm and is well positioned to assist us in identifying and implementing the highest-value strategic options for our company on a go-forward basis. The Board is pleased to have their help in evaluating what is best for Global Entertainment and our shareholders and we believe this is a very positive step forward for our company.� No timetable has been set for the completion of this exploration of strategic alternatives. In addition, no assurance can be given by the company that this process will result in any specific proposal, agreement or transaction, or any other action by the company, being entered into or consummated as a result of this review, or that, if completed, any agreements or transactions will be successful or on attractive terms. The company does not intend to disclose any further developments with respect to the status of this process unless and until its Board of Directors has approved a definitive transaction or other strategic alternative. 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 centers and related real estate development, facility and venue management and marketing, venue ticketing and brand licensing. Global Properties I, in correlation with arena development projects, works to maximize value and development potential of new properties. International Coliseums Company (ICC) serves as project manager for arena development while Encore Facility Management coordinates operations for all arena facility scheduling. Global Entertainment Marketing Systems (GEMS) pursues licensing and marketing opportunities related to the Company�s sports management and arena developments and operations. Global Entertainment Ticketing (GetTix.Net) is a ticketing company for sports and entertainment venues. 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. Cragar Industries, Inc. is the licensor for its nationally recognized, branded products CRAGAR�, TRUSPOKE�, CRAGAR S/S� and STREET PRO�. Established in 1972 and headquartered in Phoenix, Arizona, The Miller Group of entities provides a broad spectrum of financial advisory and related services to both public and private middle-market companies located throughout the United States. Among the various activities and services the firm engages in are venture capital and private equity investing, management consulting, business valuations and investor relations. The Miller Group has an impressive record of designing programs related to corporate structure, business plans and financial assignments. Miller Capital Markets, an affiliate of The Miller Group, is a boutique investment bank that handles M&A transactions, private placements of equity and debt, and public market advisory services for our clients. Miller Capital Markets is registered with the SEC and is a FINRA member firm and a member of the National Investment Banking Association. 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, 2007, and Quarterly Report on Form 10-QSB for the quarter ended August 31, 2007, as filed with the Securities and Exchange Commission.