Global Entertainment Holdings' Subsidiary Interactive Gaming & Wagering Announces a Sportsbook Licensing Relationship With - www.SpinnerSports.com

Business Wire, Oct 24, 2002

Business & Entertainment Editors/High-Tech Writers

MIAMI--(BUSINESS WIRE)--Oct. 24, 2002

Global Entertainment Holdings/Equities, Inc. (OTCBB:GAMM), http://www.globalentertainmentinc.com, Global Entertainment today announced that its subsidiary, Interactive Gaming & Wagering (IGW), has established a new licensing relationship and launched an online sportsbook at http://www.SpinnerSports.com.

The site was developed and launched in less than one month. SpinnerSports.com's ownership has many years experience in the land-based and online sports gaming and casino industry. After an extensive evaluation of the industry's software providers, SpinnerSports.com found that IGW offered the best combination of features, security, flexibility and customer attraction. Commented Mr. Jay Harwood, Operations Manager for SpinnerSports: "The IGW business model we chose was a perfect fit for our company strategy. By being able to delegate the operations of the site to a service provider, we are able to concentrate on what we do best -- marketing and customer service."

SpinnerSports.com's goal is to build a company that will earn their customers' respect and trust, and offer one of the best sports wagering sites on the Internet. "We wanted to offer our players a stable gaming platform with state-of-the-art technology and tight security, while at the same time offer a very high quality wagering experience," added Mr. Harwood.

"As a complete turnkey solution provider, IGW understands there are companies wishing to concentrate all their efforts in marketing their operation, and prefer to leave the day-to-day management to a qualified third party. We partner with the best solutions providers in our industry for the benefit of our clients," states Bryan Abboud, CEO of Global Entertainment and President of IGW.

Mr. Abboud continues, "IGW has over six years experience supporting the needs of our clients and their customers. With the rapid changes in our industry, we consistently strive to exceed our clients' technical and service expectations. Our level of commitment to quality, and efficiency, directly translates into player attraction. Our clients have some of the best wagering sites on the Internet today."

Notes to Editors:

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

Safe Harbor Statement

Some statements in this release are forward-looking and are subject to certain risks and uncertainties, including, but not limited to, economic conditions, competition, changes in laws, and the demand for the company's goods and services, which could significantly affect anticipated future results. Actual results may differ materially from any forward-looking statements.

http://www.GlobalEntertainmentInc.com http://www.IGWsoftware.com http://www.SpinnerSports.com