STAMFORD Conn. November 8 2002 – World Wrestling Entertainment Inc. (NYSE: WWE) today issued the following statement:

As part of its customary business operations reviews on September 23 2002 World Wrestling Entertainment Inc. identified a series of suspicious financial transactions in connection with the operations of The World® the company’s entertainment complex in Times Square New York City.

WWE engaged KPMG Forensic a premier provider of investigative and forensic accounting services which conducted a preliminary review of the suspicious transactions.

On September 25 2002 WWE executives and the team from KPMG first met with the Manhattan District Attorney’s office and turned over the findings of their investigation.

WWE is appreciative of the efforts of the office of District Attorney Robert Morgenthau for its diligent investigation which today resulted in the arrest of Kenton Jenkins former General Manager of The World.

WWE and the investigators at KPMG are continuing to cooperate with the District Attorney’s office regarding the current case. The company does not believe that these matters will have a material effect on its operations.

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Media Contact: Gary Davis Vice President Corporate Communications 203-353-5066

Investor Contact: Tom Gibbons Vice President Investor Relations – 203-328-2576

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Forward-Looking Statements: This news release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995 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; uncertainties relating to litigation; risks associated with producing live events both domestically and internationally; uncertainties associated with international markets; and other risks and factors set forth from time to time in Company filings with the Securities and Exchange Commission. Actual results could differ materially from those currently expected or anticipated.