STAMFORD Conn. June 20 2005 – World Wrestling Entertainment® (WWE) intends to give its superstar legends of yesteryear new life and at the same time provide retailers and licensees with an infusion of new product with the formal introduction of its new WWE Legends initiative at the national Licensing Show this week.

“WWE has a tremendous heritage on television in the licensing industry at retail and most importantly with our fans ” said Donna Goldsmith Senior Vice President Consumer Products.  “Our fans have been clamoring for us to do more with their favorite wrestlers of the past and the WWE Legends initiative is intended to do just that.  Through apparel action figures video games DVDs collectables and other licensed products WWE reminds our fans of our great heritage and those great members of the professional wrestling industry who remain their heroes.”

The WWE Legends initiative began informally with the introduction of WWE’s new subscription video on demand (SVOD) service WWE 24/7™ — which is and will be distributed by cable telephony and satellite partners worldwide — and through the use of the massive video library WWE has amassed over the past several years in career retrospective DVDs such as The Ultimate Ric Flair Collection and The Rise + Fall of ECW both of which are among the best-selling DVDs in WWE history.

With more than 25 professional wrestling greats signed on to the Legends initiative such as “Rowdy” Roddy Piper™ Jerry “The King Lawler™ and “Superstar” Billy Graham™    WWE is now ready to start issuing licensed merchandise at retail.  WWE issued its first official Legends DVD Greatest Wrestling Stars of the ‘80’s this month.  In the next several months there will be Legends action figures apparel books and more DVDs. The Legends themselves will be out promoting a wide range of WWE activities including WWE 24/7.  Also in the works are Legends fantasy weekends where the fans will have a chance to reminisce with their favorite WWE Legend.

Goldsmith indicated that the Legends initiative could have a far reaching impact for the company.  “If we can rekindle in the minds of casual and lapsed wrestling fans why they loved the WWE by reconnecting them with their pop culture icons then we have a chance at getting them more involved in the current television programs Pay-Per-View television events and products that we offer ” she said.  “Sometimes you need to remind people of your past to get them to be part of your future.”

World Wrestling Entertainment Inc. (NYSE: WWE) is an integrated media and entertainment company headquartered in Stamford Conn. with offices in New York City Los Angeles Toronto and London.  Additional information on the company can be found at wwe.com and corporate.wwe.com.

-30-

Media Contact:            Gary Davis VP Corporate Communications 203-353-5066

Investor Contact:         Michele Goldstein VP Planning and Investor Relations 203-352-8642

Trademarks:  The names of all World Wrestling Entertainment televised and live programming talent names images likenesses slogans and wrestling moves and all World Wrestling Entertainment logos are trademarks which are the exclusive property of World Wrestling Entertainment Inc.  All other trademarks are the property of their respective owners.

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 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; risks relating to maintaining and renewing key agreement including television distribution agreement; 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. In addition to these risks and uncertainties our dividend is based on a number of factors including our liquidity and historical and projected cash flow strategic plan our financial results and condition contractual and legal restrictions on the payment of dividends and such other factors as our board of directors may consider relevant.