Business Week Names WWFE the No. 3 Hot Growth Company.

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--May 19, 2000

Business Week has ranked World Wrestling Federation Entertainment, Inc. (NMS: WWFE) the No. 3 company on its annual list of the country's 100 best small companies. Linda McMahon, President and CEO of WWFE, and WWF Superstar Kane are featured on the cover of Business Week's Hot Growth Companies issue, released today.

Business Week made WWFE No. 3 on its list citing the success of its Raw is War and WWF SmackDown! programs - the highest rated shows on cable and UPN, respectively. The article also noted WWFE's successful forays into music, publishing, licensing, home videos, and DVDs. Earlier this year, Electronic Media magazine named Linda one of 12 executives to watch in 2000.

WWFE, since going public in October 1999, has experienced tremendous growth under Linda's leadership. In just the first nine months of FY 2000, net revenues and EBITDA (earnings before interest, taxes, depreciation, amortization, and non-cash charges) have already surpassed the net revenues and EBITDA from all of FY 1999. For the first nine months of FY 2000, net revenues were $262.9 million and EBITDA was $66.7 million, a 67% and 83% increase from the previous year, respectively.

Earlier this year, WWFE announced a partnership with NBC to jointly own and run the XFL, a new professional football league with games to be broadcast on NBC on Saturday nights during prime time beginning in February 2001. Yesterday, UPN announced that it will broadcast weekly XFL games on Sunday nights.

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, broadcast television, cable television, pay-per-view, and Internet entertainment; and licensed merchandise; acceptance of the Company's media and merchandise within those markets; and other risks and factors identified in the Company's Prospectus dated October 18, 1999 and filed with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.