STAMFORD Conn. May 21 2001 – WWE Entertainment Inc. (NYSE: WWE) today announced completion of multiple television agreements in Australia Asia and Europe. The agreements expand WWE branded programming to new regions and solidify distribution in existing global territories.

"These agreements strengthen our international broadcast distribution presence in important territories as we continue to build the World Wrestling WWE brand globally " said Roger Marment Executive Vice President International Business Development WWE. "These new agreements give us the right mix of free television broadcasters and pay television outlets in these regions a successful formula that we pioneered in the United States and have since duplicated in many international markets."

AUSTRALIA:

WWE renewed two key Australian distribution agreements with Fox Sports Australia and MAIN EVENT PTY LTD. Combined the distribution deals will deliver more than 300 hours of WWE branded programming over the next two years.

• Fox Sports Australia will carry WWE Raw is War® (208 hours) and Metal® (104 hours) for two years.

• MAIN EVENT PTY LTD. the top pay-per-view provider in Australia will distribute all 12 pay-per-view specials throughout 2001 including WrestleMania® Royal Rumble® King of the Ring® SummerSlam® and Survivor Series®.

ASIA:

WWE signed three new distribution agreements in Hong Kong Indonesia and Malaysia as part of its strategy to expand programming within Asia. The distribution agreements have extended the WWE brand throughout Asia and represent approximately 1 900 hours of programming through 2002.

• TVB in Hong Kong a free TV platform which controls 75% of the market share 24 hours/day 7 days/week has bought one year of WWE SmackDown!™ and Superstars™ as well as six "Specials" (pay-per-view in the United States) throughout 2001 for a total of 119 hours. The deal marks WWE’s first output agreement in the country. This deal builds upon the success of more than 1 200 hours of programming sold to date to JSKY Sports Pay TV channel in Japan.

• Free to air channel RCTI in Indonesia has licensed the rights to WWE SmackDown! and eight "Specials" (pay-per-view in the United States) over 18 months (98 hours). Pay TV platform SBS in South Korea has extended its acquisitions to include WWE Raw is War for two years (208 hours) in addition to the already aired Heat.

• These distribution agreements come soon after TV3 Malaysia’s distribution renewal of Superstars and WWE SmackDown! (104 hours) which delivers WWE programming to 2.5 million viewers each week.

EUROPE:

WWE signed a new distribution deal in the Czech Republic in an effort to expand its programming presence in Eastern Europe.

• Czech Republic’s free TV channel TV3 has signed on to carry 52 hours of WWE SmackDown!. The deal comes less than six months after the successful launch of WWE Raw Is War and WWE SmackDown! on bTV (Balkan News Corporation) in Bulgaria and WWE SmackDown! on StoryFirst Communications’ CTC in Russia.

WWE Entertainment Inc. is an integrated media and entertainment company headquartered in Stamford Connecticut with sales offices in New York City Chicago and Toronto. The company can be found online at wwe.com and wweecorpbiz.com.

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Contact:

Jayson Bernstein

WWE Entertainment Inc.

203-353-5015