SOURCE: Global Entertainment Holdings/Equities Inc.

March 21, 2007 00:05 ET

Global Entertainment's First Quarter 07 Overview

Corporate Update Thursday, March 20, 2007 6:00 pm ET

LOS ANGELES, CA -- (MARKET WIRE) -- March 21, 2007 -- Global Entertainment Holdings/Equities Inc. ("Global" or the "Company") (OTCBB: GAMT) (FRANKFURT: G8E1), a publicly traded, vertically integrated media company and independent producer and distributor of motion picture, video and television entertainment. Market Cap $76.5 Million, today announced projected revenues through 2010.

                                Revenue Forecast
                2007           2008           2009           2010
            ------------   ------------   ------------   ------------
Projected
Revenues     $4,464,184    $43,899,236    $85,742,707    $113,317,561

Source: Projected Revenues from Proxy Statement of September 1, 2006 filed
with the Securities Exchange.

Visit Corporate web site at www.globalentertainmentco.com
Company Overview

Global Entertainment Holdings/Equities Inc. through its wholly owned subsidiary, Bayshore Media Group, is a burgeoning independent producer and distributor of motion pictures, music videos and television entertainment. The company has completed and currently owns outright the full rights to 14 never released full length feature films which are being readied for release. Global's management is now engaged in leveraging its network of contacts and utilizing its extensive experience in international film distribution to formulate lucrative distribution and licensing agreements.

Founded in 1997 and headquartered in Hidden Hills, California, Global Entertainment also invests in and supports entertainment related subsidiaries. As independent producers, neither Global nor any of its subsidiaries are contractually bound to any one major motion picture studio affording the Company the freedom to utilize outside funding sources, if needed, and the ability to maintain creative control.

Global Enters Strong Motion Picture Market

In 2004, worldwide box office admissions increased 11% to $9.6 billion. After a sharp rise in box office receipts from 2000 - 2002, the growth in U.S. box office has been steady. International markets have become increasingly important for theatrical releases; in 2004, international markets accounted for 62.2% of total revenues up from 50.5% in 2001. Satellite and cable television licensing are large and continuously developing markets. The launch of digital cable in 1997 combined with affordability of digital satellite services has resulted in the number of channels increasing from 202 in 1998 to 324 in 2004.

Plans for Growth

The completion of the acquisition of Bayshore Media and the Bayshore Films has provided Global with a solid foundation of products valued at over sixty million dollars upon which to build a worldwide entertainment company. Through leveraging the experience of the management team and consultants, Bayshore Media is currently engaged in developing strategic alliances with the intent purpose of developing and producing a continual stream of new motion pictures, television series and direct to TV / cable properties.

By way of organic growth and through strategic acquisitions, Global has begun the construction of a solid vertically integrated media company. In the short-term Global's primary source of revenues will be from the license and distribution of the Bayshore Films domestically and internationally. Over the medium- to longer-term, the Company intends to acquire additional independent production and distribution firms, film libraries and build out or acquire production and post-production facilities in Canada and the United States. Within the next three to five years, Global's management also intends to establish its own music label for the promotion of recording artists.

The Company also plans to increase revenue streams and brand awareness through direct sales and licensing of ancillary products related to the new motion releases through retail chain stores and related media outlets. Merchandising is significant to Global, as it represents a future large percentage of the Company's revenue streams. Merchandise will be branded with the Company logo and with popular characters and personalities from its films. Potential merchandising includes: sweatshirts; T-shirts; plush toys; jackets; umbrellas; sunglasses; crash gear (helmets, pads, and other safety equipment); street active wear; and, action figures.

Technology has positively affected the entertainment industry and provided producers and distributors of entertainment with new media by which to market their products. Webcasting provides the Company a low cost method to deliver films to international markets.

The Company is in the process of building an enhanced online presence which will include: interactive games and activities related to current and future motion pictures and television series; access to the library of Motion Pictures (existing, newly produced and acquired); regional entertainment information; movie reviews and online columns; entertainment and cultural news and events; chat rooms; and an online store.

Currently, Global owns, free and clear, all the rights to its properties which allows the Company a plethora of licensing and distribution opportunities to expand into new media as well as traditional income stream.

FINANCIAL HIGHLIGHTS

BALANCE SHEET INFORMATION

                          Year End     Year End     Year End     Year End
                          12/31/06     12/31/05     12/31/04     12/31/03
                         (Audited)    (Audited)    (Audited)    (Audited)
                        ------------ ------------ ------------ ------------
Current Assets          $ 58,594,967 $    250,000 $    756,856 $  1,193,555
Total assets            $ 60,046,922 $  2,358,050 $  2,074,601 $  2,828,150
Current Liabilities     $  1,132,369 $  1,183,294 $  1,579,004 $  1,236,967
Total Liabilities       $  1,132,369 $  1,478,794 $  1,905,873 $  1,345,219
Equity                  $ 58,914,553 $    879,256 $    168,728 $  1,482,931
Board of Directors

David Dadon, Chairman of the Board

Mr. Dadon is an entrepreneur with extensive global operating, financial and management experience. Since 1999 he has produced more than 20 feature films. Additionally the companies that Mr. David Dadon controls have amassed several hundred movie titles for worldwide distribution. Mr. David Dadon is the founder of Bayshore Media. Mr. David Dadon brings to Global extensive public company experience. Mr. Dadon's feature film production credits include "Very Mean Men," "Jungle Juice," "Bad Fellas," "Strike Behind Enemy Lines," "Innocent Man," "Uninvited Guest," "Cop on the Run," "Italian Ties," "Ultimate Target," "Revenge Games," "Daddy Fox," "$500,000 payoff," "Sitting Ducks," "Ticker," "replicant," "Marine," "Dead Man's Run," "Face to Face," "Outlaw," "Ides of March," "Never Look Back," "Strike Zone," "Bad Guys," "Armstrong" and "Seventh Veil."

Jacob Dadon, President, Chief Executive Officer

Mr. Dadon, a Santa Monica College Film Major, shares his family's love of the entertainment industry, and intends to produce many successful films, TV shows, and records through Bayshore. Honing his skills in a very close family environment and learning the industry directly from the source, Mr. Dadon has tremendous experience that will now allow him to accomplish the task of growing Bayshore to a world leader in content, distribution, and merchandising. To date, Mr. Dadon has served as executive producer on over 20 films.

Lydia Dadon, Chief Financial Officer, Secretary & Director

Lydia Dadon's entertainment and film making experience from 1999 to present includes acting as the executive producer on over 20 films.

Corporate Advisors

Transfer Agent Transfer on Line Inc.

Accountants Spector & Wong, LLP Pasadena, CA

Corporate Attorney Sandler Travis & Rosenberg, P.A. Miami, FL.

Securities Attorneys Richardson & Patel, LLP Los Angeles, CA

Provide advice for capital formation and business strategy including litigation. The firm is known for its analytical firepower, creative problem solving and resourceful implementation to assist its clients.

Safe Harbor Statement

This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. These forward-looking statements which may include statements regarding our future financial performance or results of operations, including expected revenue growth, cash flow growth, future expenses, future operating margins and other future or expected performance, are subject to the following risks: the acquisition of businesses or the launch of new lines of business, which could increase operating expenses and dilute operating margins; the inability to license or distribute our film library competition; and to the general risks associated with our businesses.

In addition to the risks and uncertainties discussed above you can find additional information concerning risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements in the reports that we have filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent our judgment as of the date of this release and you should not unduly rely on such statements. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in the filing may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statement.

Market Cap: 76.5 Million Outstanding Shares: 225,155,273

Outstanding Shares 223,655,223 restricted

Lockup Agreement 12 months: 1,091,640

Public Float approximately 1,500,000 free trading

Global Entertainment Holdings/Equities. Inc., Hidden Hills, CA

For further financial information, please visit www.sec.gov, www.otcbb.com or Frankfurt: www.deutsche-boerse.com or see our website at www.globalentertainmentco.com

Contact Information