Global Entertainment Executives Participate in Groundbreaking Ceremonies for $55 Million Multi-Purpose Events Center in Independence, Missouri

TEMPE, Ariz.--(BUSINESS WIRE)--Global Entertainment Corporation (AMEX: GEE) executives will join Mayor Don Reimal, City Manager Robert Heacock and other dignitaries for groundbreaking ceremonies commencing at 10:00 a.m. CDT on September 16, 2008, for a $55 million, 5,800 fixed-seat multi-purpose events center and community skating rink slated for construction in the nation’s heartland for the City of Independence, Missouri. Global’s family of subsidiary companies will serve a broad range of functions from design and construction consulting services to facility management under multi-year agreements. The events center, with its world-class design, will be located in the well-developed Eastland Center that is strategically located just east of Kansas City, Missouri, and easily accessible from two major intersecting interstate highways. The development (www.globalentertainment2000.com/development.asp) will include an estimated 26 luxury suites and VIP seating, along with restaurants, lounges and an attached practice facility with a second ice surface, a much-sought-after addition in new arena development. A Central Hockey League (CHL) team is planned to be the facility’s primary tenant, with the team license to be awarded by the Western Professional Hockey League, a Global subsidiary.

“The synergy with area businesses, restaurants and hotels will help solidify Independence as a destination spot.”

Other Global subsidiaries providing services include:

--	International Coliseums Company (ICC) will serve as project consultant for the design and construction of the facility.
--	Encore Facility Management (Encore) will manage all building operations.
--	Global Entertainment Marketing Systems (GEMS) will be the licensing and advertising arm, handling all sales and marketing services.
--	Global Entertainment Ticketing (GetTix.Net) will provide exclusive ticketing services for all events.

Mayor Don Reimal commented, “We are looking forward to the opening of this new arena, which will serve as a location for a variety of local and regional events. This tremendous facility will benefit not only Independence and Jackson County, but also the surrounding communities and counties.”

“The events center will be a unique place for community celebration and activities that bring people and families together,” said Independence City Manager Robert Heacock. “The synergy with area businesses, restaurants and hotels will help solidify Independence as a destination spot.”

Steve J. Bielewicz, president of Global Properties I, stated, “Our expansion into the heartland of the nation could not be better served than through our entry in the Independence, Missouri, market. The timely groundbreaking for the project demonstrates the commitment made by the leadership of the City of Independence in meeting the projected grand opening that is expected to be in the fall of 2009.”

Richard Kozuback, president and chief executive officer of Global Entertainment Corporation, said, “We are very excited to officially break ground on the Independence Event Center in Independence, Missouri. Bringing this project together is a great example of how multiple parties can work collectively to accomplish a goal, one that will develop an events center like none other in the area. We are grateful to the City of Independence for the vision and commitment they have for their community and look forward to the ribbon-cutting ceremony."

Commenting further, Kozuback stated, “Our $50 million facility project for Allen, Texas, is also under construction at this time and on track for an anticipated completion date of October 2009.”

Visit our web sites:

www.globalentertainment2000.com		www.centralhockeyleague.com
www.coliseums.com		www.GetTix.net

Global Entertainment Corporation is an integrated events and entertainment company focused on mid-size communities that is engaged, through its six wholly owned subsidiaries, in sports management, multi-purpose events and entertainment centers and related real estate development, facility and venue management and marketing and venue ticketing. 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.

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-K for the year ended May 31, 2008, as filed with the Securities and Exchange Commission.