Global Entertainment Corporation Increases Size of Board; Adds Two Independent Directors; Names New President for Subsidiary, International Coliseums Company.

PHOENIX -- 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, added two highly qualified members to its Board of Directors increasing the Board size to a total of nine. The new directors -- Michael L. Bowlin and Stephen A McConnell -- are independent and have substantial experience operating and serving as directors of public companies.

Michael L. Bowlin is Chairman and Chief Executive Officer of Bowlin Travel Centers, Inc., a public company, and was Chairman and Chief Executive Officer of Bowlin Outdoor Advertising and Travel Centers, Inc., an American Stock Exchange-listed company until January 2001 at the time it was acquired by Lamar Outdoor Advertising. Mr. Bowlin also served as a member of the Board of Directors and was the President of Stuckey's Corporation from 1986 through 1994. He holds a Bachelor's degree in Business Administration from Arizona State University.

Stephen A McConnell is President of Solano Ventures, an investment fund devoted to small and mid-sized companies. Mr. McConnell currently serves on the boards of Nasdaq National Market companies Capital Title Group, Inc. and Mobile Mini, Inc. He also serves as a Board Member of Miracor Diagnostics, Inc., a public company. Mr. McConnell holds a BA from Harvard College and an MBA from Harvard Business School.

"The addition of Mr. Bowlin and Mr. McConnell as board members increases the depth of public company executive level and operational experience we can draw upon as we set new goals for our growing company. Their exceptional skills and the guidance they can provide regarding corporate governance policies will be extremely useful as our reporting requirements under Sarbanes-Oxley come into effect," stated Rick Kozuback, president and chief executive officer of Global Entertainment.

"I am also extremely pleased to announce the promotion of Daniel Vaillant to President of ICC (International Coliseums Company), our division that designs and serves as construction manager for multi-purpose events centers we develop in conjunction with municipalities through the U.S.," said Kozuback. "Over the last two years, Dan has developed a new standard within our company for the term 'multi-tasking.' He is an invaluable member of our executive management team."

Global Entertainment Corporation is an integrated event and entertainment company focused on mid-size communities that is engaged, through its six wholly owned subsidiaries, in sports management, arena and related real estate development, facility and venue management and marketing, venue ticketing and brand licensing. The WPHL, Inc., through a joint operating agreement with the Central Hockey League (CHL), is the operator and franchisor of professional minor league hockey teams in eight states. International Coliseums Company serves as project manager for arena development while Encore Facility Management coordinates all arena facility operations. 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 an in-house ticketing company for sports and entertainment venues. Cragar Industries, Inc. is the licensor for its nationally recognized, branded products CRAGAR(R), TRU-SPOKE(R), CRAGAR S/S(R) and STREET PRO(R).

Visit our web sites:

www.globalentertainment2000.com

www.centralhockeyleague.com

www.coliseums.com

www.gems2000.com

www.EFM2000.com

www.Cragar.com

www.GetTix.net

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, 2005, as filed with the Securities and Exchange Commission.