STAMFORD, CONN., August 1, 2002 -- World Wrestling Entertainment’s® (NYSE: WWE) first Canadian retail store and themed drop ride, WWE® Niagara Falls, has officially opened in Niagara Falls, Canada. The store and themed drop ride, operated by Canadian Niagara Hotels under license from WWE® , features more than 4,000 square feet of retail and exhibit space and a 220-foot ride.

WWE® Superstars Trish Stratus® , Chris Benoit® and The Big Valbowski® cut a symbolic championship belt to officially open the store and themed drop ride. They were among the first to ride the 220 foot high "Pile Driver® " and later they cast their hands in cement as a permanent memento of the opening.

"World Wrestling Entertainment® is extremely pleased to bring our brand of excitement to Niagara Falls, one of the world’s leading tourist destinations," said Carl DeMarco, President, World Wrestling Entertainment® Canada, Inc. "The store not only provides visitors the opportunity to purchase WWE® merchandise but it will also offer them great entertainment through the exhibits and ‘Pile Driver® ’."

The retail store contains World Wrestling Entertainment® exhibits, memorabilia, exclusive merchandise and interactive displays. Multi-media lighting designs and effects create an atmosphere for fans equivalent to that of stepping into a World Wrestling Entertainment® arena.

"With 14-million tourists visiting Niagara Falls every year, WWE® Niagara Falls further establishes the Falls Avenue site as Niagara’s premier destination," said Dino DiCienzo Jr., Canadian Niagara Hotels.

"This is a significant investment for Niagara Falls," said Wayne Thomson, Mayor City of Niagara Falls. "Over the past few years, our tourism industry has grown to include many leading brands in entertainment and the arrival of the World Wrestling Entertainment® is the icing on the cake."

World Wrestling Entertainment, Inc. (NYSE: WWE) is an integrated media and entertainment company headquartered in Stamford, Conn., with offices in New York City, Chicago, Toronto and London. Additional information on the company can be found at wwe.com and corporate.wwe.com. For information television ratings and community activities can be found at parents.wwe.com.

Canadian Niagara Hotels and Entertainment is a wholly owned Canadian company operating the Falls Avenue site in Niagara Falls, Ontario. Its hotels include the Sheraton on the Falls, Brock Plaza, Skyline Inn and Hampton Inn at the Falls.

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Media Contacts: 
Pam MacIntyre – World Wrestling Entertainment Canada, Inc. 
Telephone – 416.497.8338 x. 114

Gord Arbeau – Canadian Niagara Hotels and Entertainment
Telephone – 905.374.4446 x. 4217

Investor Contact: 
Tom Gibbons, 203-328-2576

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.