Changes Lead to Greater Support for World Wrestling Federation Entertainment's New Media Business.

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--June 8, 2001

World Wrestling Federation Entertainment, Inc. (NYSE: WWF) today announced changes to strengthen its ability to offer an integrated brand message, provide better service to fans, and further enhance the web experience that its WWF.com network has become known for around the world.

Shane McMahon, President of WWFE's New Media Division, announced that the company's e-commerce efforts would be rolled into its Consumer Products Division to provide additional support and greater flexibility to meet market opportunities. He also announced that WWFE's corporate marketing group would take over the task of marketing support for WWF.com, ensuring WWF.com network promotion would receive greater benefit from overall corporate marketing efforts. The changes bring the company closer to its goal of establishing one brand marketing strategy and message across all electronic and print media platforms.

"Having the resources of WWFE's Corporate Marketing and Consumer Products Divisions more focused on WWF.com will bring us closer to achieving our full potential within the Internet business," said McMahon. "By combining our catalogue, arena, licensing and e-commerce sales into one integrated operation, we can be more responsive to our fans, improving sales and better leveraging inventory. Support from our Corporate Marketing Division ensures a more prominent and integrated role in the company's overall marketing and advertising programs that will drive more visitors to our site and make us a more valuable buy for advertisers."

Currently, WWF.com is one of the most visited sites on the Internet, attracting more than 8 million unique visitors per month worldwide. It is the number one provider of streaming video on the web with 8.4 million video streams per month, outperforming such sites as MSN.com and CNN.com. The WWF.com network has grown to more than 40 branded sites, making it the most visited web destination for male teens around the world.

Stuart Snyder, President of WWFE, said the changes captured synergies for the corporation. "As an integrated media entertainment company, we are constantly looking for ways to better serve our audience through improved integration, and to capture synergies within the business to make us more effective and efficient," said Snyder. "These changes for our New Media, Marketing and Consumer Products Divisions fit with our philosophy of maximizing our marketing and product sales efforts through greater integration."

World Wrestling Federation 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 on the New York Stock Exchange under the symbol WWF and online at WWF.com and WWFECORPBIZ.com.