Global Entertainment Holdings' Subsidiary IGW Software to Enhance Its Casino Suite Through Strategic Relationship with Parlay Entertainment.

Business Editors/High-Tech Writers

MIAMI--(BUSINESS WIRE)--June 17, 2003

Global Entertainment Holdings/Equities, Inc. (OTCBB:GAMM) (http://www.globalentertainmentinc.com) announced that its subsidiary, IGW Software, Inc. (IGW), has signed a letter of understanding to form a strategic relationship with Parlay Entertainment Limited, a member of the DCEG Group of Companies (OTCBB:DCEG).

As a result of this relationship, IGW will integrate the full range of Parlay's state-of-the-art online bingo and casino software into IGW's award winning Sportsbook, Horsebook and back-office product lines. The fully integrated system is scheduled for release in the third quarter of this year. IGW's customers include leading sports betting sites such as www.betgameday.com, www.vipsports.com and www.sirbet.com.

"After thoroughly reviewing the industry for casino and bingo style online gaming, IGW selected Parlay Entertainment as its strategic partner," said Bryan Abboud, President of IGW. "Like IGW, Parlay is focused on offering tremendous value and the highest level of responsiveness to its customers. By merging the synergy of Parlay's skill-set in casino and bingo game development with IGW's strengths in Sportsbook, Horsebook and backoffice integration, we now offer greater revenue opportunity and diminishing administrative expenses to both current and future clients."

"With the signing of this agreement to 'white label' Parlay software, we have accomplished one of our key corporate objectives for 2003," said David Outhwaite, Parlay's CEO. "IGW's dedication to quality and to the success of their customers is well established, and the combination of our two companies' software with a common back end creates an extremely powerful product offering. We're very pleased to be associated with an industry leader such as IGW to help broaden the reach of Parlay products."

About Global Entertainment Holdings/Equities, Inc.

Global Entertainment Holdings/Equities, Inc. (OTCBB:GAMM), is a publicly traded holding company that provides business development support and administrative assistance for technology-driven subsidiaries that license, develop and host internet software applications for the online entertainment and gaming sector.

IGW Software is a wholly owned subsidiary of Global Entertainment Holdings/Equities Inc. IGW is a leading provider of innovative software and services for the online gaming industry. Founded in 1996, IGW offers online casinos, Sportsbooks, Horsebooks and private label sites to entrepreneurs and land-based casinos worldwide.

About Parlay Entertainment

Parlay Entertainment Limited, a member of the DCEG Group of Companies (OTCBB:DCEG), licenses and supports Internet gaming products and related services, and neither operates nor participates in its customers' online gaming sites. As one of the first companies to license multi-player, pay-for-play bingo technology on the Internet, Parlay is a leader in the online bingo market, and offers a comprehensive suite of Java, Flash and downloadable bingo, casino and lottery products. Parlay is committed to customer satisfaction and the regulatory compliance of its entertainment software products worldwide.

Safe Harbor Statement

Statements in this press release that are not historical including statements regarding Global's, IGW's or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Such statements include statements regarding the Company's subsidiary's ability to integrate Parlay's products into existing products, the ability of IGW to release the integrated products by the third quarter of this year and the ability of the new product line to affect sales or earnings of the Company.

It is important to note that the Company's actual results could differ materially from those in any forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. Factors that could cause actual results to differ materially include the acceptance of new products, the execution of an agreement between IGW and Parlay, and other risk factors listed from time to time in the Company's SEC reports, including but not limited to, the annual report on form 10-KSB for the year ended December 31, 2002 and the quarterly report on form 10-QSB for the period ending March 31, 2003. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.