SOURCE: Global Entertainment Acquisition Corporation

August 18, 2008 10:30 ET

Global Entertainment Licenses 500 Music Titles, Film Scores, Original Songs for Music Division

Music Maven, Division Head Del Makes Deal With Impact Productions to Keep Music in House

BEVERLY HILLS, CA--(Marketwire - August 18, 2008) - Global Entertainment Acquisition Corporation (PINKSHEETS: GEAC) announced today it has acquired through license the library of music scores, commercial jingles, original songs and underscores from Impact Productions, a Miami based power commercial music house. The library contains hundreds of memorable national, regional and local jingles, as well as scores from motion pictures and original songs from the likes of EJ Waters and many other artists, some of which had major distribution both domestically and globally. The company intends on rolling out its music division by creating and pulling material from its growing music library and putting them in its feature films made by its film division.

The announcement follows several very positive and aggressive moves by the company in acquiring entertainment properties and licenses. Recently, the company finished its first creative endeavor, finalizing the screenplay for its first fully developed comedy, "Brand Dead." It also recently announced that it had commenced production on its Sci Fi superhero flick "Spiderella," which is a Maurice Smith-developed project and which the company expects to complete in '08. The company also acquired rights to the comedy screenplay "The Psychic." Now, with this announcement, the company is demonstrating its commitment to building its music library and becoming a fully integrated production house.

Del, who heads the music division for Global, is ecstatic about the deal and expects it to yield a higher profitability for the company by keeping the rights to music in house. Says Del, a recording artist himself, "This is just the beginning of our music acquisition efforts hopefully. It makes a world of sense, as we build our film library, we have a huge need for original music of all genres, and this library has exactly that." Maurice Smith, who stepped down as CEO to work full time on the "Spiderella" franchise, says the company initiated a name change and will be announcing some exciting new developments when it becomes official.

"In terms of acquiring these music titles, it makes all the sense in the world," says company founder Maurice Smith. "Why go to outside writers for original music and producers when we have all the talent and material we need in house?"

ABOUT GLOBAL ENTERTAINMENT

Global Entertainment Acquisition Corporation is an emerging film production company headed by Maurice Smith, a veteran filmmaker who has produced many successful and memorable films such as "Screwballs," "Totally Blonde," "Alien Predator," "Recruits 1 and 2" and many other films over his distinguished 30-year career. His films have been distributed in virtually every country in the world and he has distribution on several films currently with some of the largest film distributors in the world.

The company will focus on producing small budget films in the Comedy and Sci Fi genres while searching for and developing emerging talent including writers, directors and actors to work on their films. In an era of expanded outlets of distribution, content is in higher demand than ever. It is Global's mission to become a leading content provider of entertaining, high quality films to feed the global demand.

Safe Harbor Disclosure:

This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

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