The Directors of Global Entertainment Group plc ("GEG") are pleased to announce the acquisition of 100 per cent of the issued share capital of Global Gaming Leisure plc ("GGL") for a total consideration of GBP2,030,000 ("the Acquisition"). The Acquisition has been satisfied by the issue of 126,875,000 new ordinary shares of GEG at the price of 1.6p per share, credited as fully paid. The total number of shares in issue following the Acquisition will be 424,601,635, giving GEG a market capitalisation of GBP5,838,272. GGL actively seeks investments across a range of opportunities within the Asian gaming industry. It has interests in one of the VIP Rooms within Wynn Resorts (Macau) with plans to acquire further interests in Macau. GGL's unaudited accounts show a profit of HKD3,181,877 (approximately GBP205,000) for the 12 months to 31 December 2007. GGL will be integrated into GEG's existing gaming activities which currently provides a statistical risk management business focused on the gaming and entertainment industry. Following the Acquisition, the shareholding of Dr. Johnny Hon, Chairman of GEG and a Director and shareholder of GGL, will increase from 21.22 per cent to 24.86 per cent of the issued share capital of GEG. In addition, Roy Nominees Limited has ceased to have a substantial shareholding in GEG. The following is a list of substantial shareholdings in GEG following the Acquisition: Shareholder Number of Shares Interest in GEG post Acquisition (%) Dr Johnny Hon 105,573,572 24.86 Daiton Global 71,159,667 16.76 Faith Conqueror Limited 41,666,667 9.81 Ms Chiu Fong Lai 40,000,000 9.42 David Cowham 16,290,123 3.84 Jefferies International (Nominees) 14,843,750 3.50 Limited Dr. Hon said "Global Entertainment Group plc considers that it is positioned to take advantage of one of the most rapidly growing segments of the gaming industry, Macau. The acquisition of GGL constitutes another step forward in that strategy." The Directors of GEG accept responsibility for the contents of this announcement. --- Ends --- About Global Entertainment Group plc Global Entertainment Group plc is a vertically integrated media and entertainment conglomerate focused on Film and Television Production, Cinema Operations, Artist Management, and Gaming and Risk Management. For additional information, please visit www.gegplc.com. For further information please contact: GEG plc Johnny Hon, Chairman +44 (0) 20 7073 7888 Rukpong Tupprasoot, COO info@gegplc.com Atlantic Law Llp Andrew Greystoke +44 (0) 20 7616 2888 GTH Media Relations Toby Hall +44 (0) 20 7153 8039 Brooke Paul +44 (0) 20 7153 8035