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Global Entertainment Acquires "Bringing Down The House"; to Become Motion Picture

"Frat Classic Could Be Next 'Animal House,'" Says CEO Maurice Smith

BEVERLY HILLS, CA -- (MARKET WIRE) -- 06/12/08 -- Global Entertainment Acquisition Corporation, Inc., trading under the symbol (PINKSHEETS: PSRZ), announced today that it has entered into an agreement to acquire the rights to produce the screenplay "Fatties; Bringing Down the House."The company announced that it will produce the full length feature this fall. The news comes on the heels of yesterday's announcement wherein the company acquired the rights to make the 3rd sequel to the comedy classic "Screwballs."

"There is a pattern, and it is beginning to take shape," says iconic producer and Global's CEO Maurice Smith. "We are in the entertainment acquisition business, and as such our focus is acquire properties that we believe will provide a high level of entertainment value. Our focus initially and primarily is to make very funny pictures for the coveted 18 to 35 audiences and this screenplay, like 'Screwballs 3,' and 'The Psychic,' certainly fits that description. I can't wait to begin shooting these films."

"Fatties; Bringing Down The House" is a screenplay that harkens back to the comedy classic "Animal House" and "Revenge of the Nerds." The story takes place on the campus of the University Of Florida, where 4 rather large, socially challenged Freshman encounter the wrath of the powerful Delta Pi fraternity. The zany comedy, cut out of the National Lampoon production model, takes a wild turn when the fed up fatties decide to seek revenge by stealing the marijuana plants growing in the basement of the frat House.

Could be a Major Franchise

The first movie of what the company expects to be a franchise, ends with our fatties getting the last laugh, but remain unfulfilled in their ultimate goal of seeking revenge on the frat, and the Frat leaders dead set on seeking revenge on our Fatties. Stay tuned for the second film. Fatties 1 is set to go into production in the fall of '08.

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.

For more information or investor questions contact:
1-877-576-8007
Investorrelations@globalentertainment.com
www.globalentertainmentcorp.com

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