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 it is expanding its presence in the nation�s heartland with the signing of an agreement for the development of a $52 million state-of-the-art, multi-purpose events center for the City of Independence, Missouri. Global subsidiary International Coliseums Company (ICC) signed an agreement to serve as project consultant for the design and construction of the facility. Other Global subsidiaries will supply exclusive services over a 15-year period. Encore Facility Management (Encore) will manage the building operations. Global Entertainment Marketing Systems (GEMS) will be the licensing and advertising arm handling all sales and marketing services, and Global Entertainment Ticketing (GetTix.Net) will provide exclusive ticketing services for all events. The facility will be part of the well-developed Eastland Retail Center that is strategically located just east of Kansas City, Missouri and easily accessible from two major intersecting interstate highways. The multi-purpose events center is slated to have approximately 5,800 fixed seats that will include an estimated 26 luxury suites and VIP seating along with restaurants, lounges and an additional second ice surface that will provide a youth hockey and skating facility for the community. The facility, that has a scheduled opening in late 2009, will also be home to a Central Hockey League (CHL) franchise team that will serve as the primary tenant. The franchise will be awarded by the Western Professional Hockey League, a Global subsidiary. Steve J. Bielewicz, president of Global Properties I, commented, �With the completion of the Phase I Development portion of this project we look forward to moving quickly into the construction phase of the events center for Independence. Groundbreaking is expected to take place within the next four months. This represents a new market for the Global family of companies and one that is complementary to existing CHL franchise teams in Colorado, Kansas and Oklahoma.� Richard Kozuback, president and chief executive officer of Global Entertainment Corporation, said, �The announcement of the signing of this new agreement with Independence, Missouri opens a new market for us that will enhance our presence on a national basis. The Independence region has been a prime candidate for the development of an events center and we look forward to working with the City as we develop this major entertainment facility for the citizens of Independence and the regions surrounding this 'All-American City.' �This announcement comes less than 30 days prior to the anticipated groundbreaking for the new $52.5 million events center we were engaged in February 2008 to develop for Allen, Texas. Both Allen, Texas and Independence, Missouri will have a CHL franchise team and their respective new facilities will have an attached practice facility with a second sheet of ice, a much sought-after addition in new arena development,� 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 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�. 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 February 29, 2008, as filed with the Securities and Exchange Commission.