STAMFORD, CONN, July 8, 2002 - World Wrestling Entertainment, Inc. (NYSE: WWE) today announced it has successfully settled its lawsuit against the Parents Television Council (PTC), L. Brent Bozell III, Media Research Center (MRC), and others. As a result, WWE will receive $3.5 million and a series of non-monetary considerations, including a personal letter of apology from Mr. Bozell (see the posting at the PTC website, www.parentstv.org, and at wwe.com or corporate.wwe.com).

The lawsuit centered on various statements made by PTC and its representatives linking the deaths of four children to the WWE SmackDown! television program and on statements claiming that certain advertisers had stopped advertising on SmackDown.

In his letter of apology, Mr. Bozell acknowledged that the PTC's concerns with the content of WWE'S programming has been reduced significantly over the past years, and went on to admit that it was not fair to WWE to have passed on to advertisers accusations about children's deaths which were false. In addition, as part of the settlement agreement, Mr. Bozell has offered to meet with certain specific advertisers with whom he or members of his organizations met with or sent letters to regarding WWE to personally explain the basis of his letter of apology.

"We have always maintained that certain statements made about us by the PTC went beyond fair comment or criticism, and were false, defamatory, and very unfair,'' said Linda McMahon, WWE CEO. "We feel vindicated by this settlement."

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