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 plans for expanding its presence in its home state of Arizona are moving forward with the City Mayor and Council of Yuma, Arizona unanimously agreeing to enter into a Phase I Development Agreement with Global Properties I to formally begin work on a proposed 6,000 fixed seat multi-purpose events center for their city. The facility is projected to have 22 luxury suites, 2 club suites, restaurants and lounges. The Phase I Development Agreement provides advanced funding for Global Properties to move the project forward. Yuma is located close to the border with California to the west and Mexico to the south. The area offers a climate that blends desert sunshine with the cool waters of the Colorado River attracting visitors that double the population during the winter season and provide a boon for area businesses. Along with Global Properties I, five other Global Entertainment (Global) subsidiaries participate in the development that includes design, opening, managing and marketing the state-of-the-art multi-purpose events center. International Coliseums Company heads the design and construction phase. The Western Professional Hockey League d/b/a the Central Hockey League (CHL) will award a 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 Yuma arena. Global has perfected this turnkey solution for mid-size communities intent on providing a multi-use entertainment facility for its citizens and the surrounding region. The facility�s projected opening is autumn of 2009. Steven J. Bielewicz, president of Global Properties I said, �The City of Yuma made the commitment that allows us to move forward with this events center and maintain our timelines. We believe Yuma offers us a market that will be home to one of the most successful events centers developed by our Global companies. We take particular pleasure in working on this development, our second Arizona multi-purpose events center having opened our first facility in Prescott Valley in late 2006.� Rick Kozuback, president and chief executive officer of Global Entertainment commented, �With the recent announcements of development projects for the cities of Dodge City, Kansas, Allen, Texas and Independence, Missouri and now Yuma, Arizona, our past investments in the development of our cross-revenue generating platform of sister companies is producing the anticipated results. Our name is gaining in recognition with each project awarded and we are becoming the developer of choice for turnkey multi-purpose events centers in mid-sized communities. We have a strong pipeline in place as well as many additional target markets under further assessment.� 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 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 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 is an in-house ticketing company for sports and entertainment venues. Cragar Industries is the licensor for its nationally recognized, branded products CRAGAR�, TRU-SPOKE�, 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.