New York/Stamford, Conn. - May 14, 2002 -- Metropolitan Entertainment has been retained by World Wrestling Entertainment™ to be the exclusive producer of all music and comedy concerts for WWE™’s entertainment complex, "The World"®.

Located in famed Times Square in New York City, the 48,000 square foot venue can accommodate more than 1,000 guests and features a state-of-the-art soundstage for TV and live entertainment productions. The complex also includes a 500-seat restaurant. The World® is located on the site of the legendary Paramount Theatre, which has been restored to its original grandeur with the reconstruction of the famed marquee and arch.

"We’re very excited to be working with Metropolitan Entertainment, one of the most recognizable names in the concert and entertainment business. We believe that their credibility and track record will propel The World® to new heights as one of the premiere entertainment venues in New York City," said Linda McMahon, CEO of WWE™.

According to Mitchell Slater, Chairman of Metropolitan Entertainment, "This is a major step in our strategic growth plan. Our new partnership with WWE™ serves to enhance our position as the preeminent independent promoter in the Northeast. With three exclusive venues in Manhattan, Metropolitan Entertainment has the ability to develop an act from club level up through the stadium level. We are excited to be working with WWE™ and look forward to a long and mutually rewarding relationship."

About Metropolitan Entertainment:
Metropolitan Entertainment, established in 1971, is the exclusive presenter of concerts and events at such venues as New York’s famed Hammerstein Ballroom, Darien Lake Performing Arts Center, Baltimore’s Pier 6, The New Jersey Performing Arts Center, The Sovereign Center in Trenton, NJ, Scranton Cultural Center, and major arenas and theaters nationwide.

World Wrestling Entertainment (NYSE: WWF) is an integrated media and entertainment company headquartered in Stamford, Conn., with offices in Chicago, New York, Toronto and London. Additional information on the company can be found at wwe.com and wwecorpbiz.com.

WWE Media Contact: Jayson Bernstein, 203-353-5015
WWE Investor Contact: Tom Gibbons, 203-328-2576
Metropolitan Contacts: Larry Solters, 213-639-6169; Hannah Kampf, 213-639-6159

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; the outcome of certain litigation, and other risks and factors identified in the Company’s documents filed with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.