STAMFORD, Conn, June 27, 2000--World Wrestling WWE Entertainment, Inc. (NMS: WWE) reported better than expected results for the fourth quarter ended April 30, 2000, record results for Fiscal 2000, and plans for continued growth in Fiscal 2001.

For the quarter, the Company reported net revenues of $116.4 million; earnings before interest, taxes, depreciation and amortization (EBITDA) of $19.4 million; and pro forma diluted earnings per share of $0.19. "The quarter came in better than expected due to the expanding appeal of the Company's WWE entertainment brand -- generating particularly strong TV ratings, advertising revenues, and pay per view (PPV) buys,'' said Linda McMahon, CEO. "Results were partly offset by our $1.1 million investment in XFL start-up costs and $4 million in special legal and accounting costs for, among other items, the Company's strategic transactions with NBC, Viacom/CBS, WWE-New York, and the settlement of an old outstanding lawsuit.''

Attributable EBITDA for the WWE entertainment brand, which excludes the XFL, was $20.5 million in 4Q00, which compares to pro forma EBITDA $21.8 million in 4Q99.

4Q FY2000 Highlights

Live and Televised Entertainment revenues increased 44% or $26.8 million to $87.3 million, more than offsetting a $4.1 million decline in Branded Merchandise to $29.1 million due in part to the timing of year ago license payments. Advertising revenues increased $12.9 million, PPV increased $11.0 million, live events increased $2.2 million and Internet increased $2.2 million. Key performance drivers were:

-- Higher ratings for WWE Raw is War, the No. 1 regularly

scheduled show on cable TV - Up 7% to 6.3 in 4Q00

compared to 5.9 in the year ago quarter and up 3% compared to

6.1 in 3Q00.

-- Higher ratings for WWE SmackDown!, the No. 1 regularly

scheduled show on UPN - Up 9% to 5.0 in 4Q00 compared to 4.6 in

3Q00 and up 15% compared to 4.4 in 2Q00, when the series debuted.

-- Increased PPV buys - Up 39% to 2.5 million compared to 1.8 million

in the year ago quarter.

-- Increased Internet Page Views and Unique Visitors - Page views

increased 133% to 200 million and unique visitors increased 144%

to 4.4 million in April 2000 compared to April 1999 for WWE.com

and its network of related sites.

FY2000 Highlights

Net revenues increased 51% to a record $379.3 million compared to $251.5 million; pro forma earnings before interest, taxes, depreciation, amortization and a non-cash charge increased 52% to a record $85.7 million compared to $56.4 million; and pro forma diluted EPS increased 36% (on more shares resulting from the Company's IPO) to a record $0.80 compared to $0.59.

Live and Televised Entertainment revenues increased 56% to $265.5 million compared to $170.0 million with advertising up $47.8 million, PPV up $25.6 million, live events up $19.2 million, and television rights up $2.9 million. Branded Merchandise revenues increased 40% to $113.8 million compared to $81.4 million with licensed merchandise up $18.1 million, other branded products up $6.8 million, and Internet up $7.5 million. The Company ended the year with $208.7 million in cash and short term investments, only $11.4 million in long term debt, and $254.7 million in total stockholders' equity.

FY2001 Outlook

"We look forward to solid growth in FY2001,'' said Mrs. McMahon. "Our target for the WWE entertainment brand is a 15% increase in revenues and EBITDA. This target does not include the potential of a significant increase in revenues and EBITDA associated with a new contract with USA Networks or Viacom/CBS. Separately, our target for the XFL professional sports brand is $80-$85 million in first season revenues and a net cash outlay, including start-up costs and $6 million in capital expenditures, of $35-$38 million -- half of which will be paid for by our XFL partner, NBC."

Forward-Looking Statements: This news release contains forward-looking statements, which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for live events, broadcast television, cable television, pay-per-view, Internet, food and beverage, entertainment, professional sports, and licensed merchandise; acceptance of the Company's brands, media and merchandise within those markets; and other risks and factors identified in the Company's Prospectus dated October 18, 1999 and other documents filed with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.