Charles Koppelman Joins Board of Directors of Worldwide Entertainment & Sports.

WEST ORANGE, N.J.--(BUSINESS WIRE)--June 28, 1999--

Company Taking a Series of Strategic Steps to

Strengthen its Franchise

Worldwide Entertainment & Sports Corp. (NASDAQ:WWES) today announced the first of a series of activities to strengthen its franchise by adding Charles Koppelman to its Board of Directors. Mr. Koppelman has a long distinguished career in the entertainment industry and is currently Chairman and Chief Executive Officer of CAK Universal Credit Corp., a leading entertainment finance company. He is also the former Chairman and Chief Executive Officer of EMI Records Group North America.

In addition, Laurence Gottlieb, formerly Vice President of CAK Universal Credit Corp., has been named Executive Vice President of WWES responsible for the Company's day-to-day operations.

Worldwide Entertainment & Sports' President and CEO, Marc Roberts, commented, "I am very pleased that Charles and Laurence have agreed to join the WWES team and that we will have the benefit of their wisdom and expertise. We have made a conscientious decision to strengthen our management team as a first step in our strategy to unlock the full potential of WWES and put us in a strong position to enhance shareholder value. The Company's success in attracting top quality athletes has created an extremely valuable asset in its impressive client list generating considerable opportunities to leverage the WWES brand by branching into additional markets and growing WWES into a leading sports and entertainment entity."

Charles Koppelman commented, "I am excited to be working with the Board and management of WWES and assisting them in achieving accelerated growth by helping to define synergistic opportunities both in sports and entertainment. My 35 years in the entertainment business and my years as a sportsman, makes me incredibly enthusiastic about this new relationship."

Mr. Koppelman formed CAK Universal Credit Corp. in February 1998 with Prudential Securities Incorporated. CAK Universal Credit Corp has an initial $200 million line of credit from Prudential Securities to originate and warehouse loans secured by income streams from intellectual property such as copyrighted music, computer software, books, movies and patents. These loans then will be securitized and sold to investors. The company expects to manage $1 billion in financing in its first year.

From April 1993 until 1997, Mr. Koppelman oversaw all North American activities of EMI's diverse record labels, which include Capitol, EMI, The Enclave, Capitol Nashville, EMI Latin, Blue Note and Angel/EMI Classics/Virgin Classics. He also evaluated the viability of new business ventures and oversaw the company's sales and distribution division, manufacturing facilities and studio operations.

Mr. Koppelman has received numerous awards for his career and philanthropic achievements. In 1990, he was honored by the Songwriters Hall of Fame with the Abe Olman Publishers Award. In 1991, he was named Humanitarian of the Year by the T.J. Martell Foundation for Leukemia, Cancer and AIDS Research.

Mr. Koppelman is a board member of the Rock and Roll Hall of Fame. He is also on the arts board at Tufts University and is the benefactor of the school's Koppelman Art Gallery. Mr. Koppelman is a Trustee of North Shore Hospital and sits on the Dean's Council at Hofstra Law School. He is also on the Board of Governors of New York Hospital.

Mr. Gottlieb worked closely with Mr. Koppleman at CAK Universal Credit Corp. where he focused on filmed entertainment and music related transactions. Previously, he practiced law as a Senior Associate in the Los Angeles law firm of Troop, Steuber, Pasich, Reddicj & Tobey, LLP representing clients including Disney, Fox and Sony. He received his J.D. from Benjamin N. Cardozo School of Law in 1993 and graduated with a B.S. Cum Laude from Boston University in 1990.

Worldwide Entertainment & Sports provides management, marketing and commercial endorsement agency services to professional athletes. Its clients include professional athletes in boxing, football, basketball and motorsports. The Company has the largest stable of heavyweight boxers in the sport including top contenders Shannon Briggs and undefeated Ike Ibeabuchi. The Motorsports division engages in signing marketing contracts with race teams, racecar drivers and potential motorsports sponsors. The Company's Football division client list is among the strongest in the NFL featuring All-Pro Antonio Freeman of the Green Bay Packers and O.J. McDuffie of the Miami Dolphins. Worldwide Entertainment & Sports is on the World Wide Web at www.wwentertainment.com.

Except for the historical information herein, certain matters discussed in this release include forward looking statements that may vary significantly based on a number of factors and uncertainties. Actual risks may vary significantly based on a number of factors, including, but not limited to: the success and achievement of the athletes managed by the Company; demand for their services; the ability of the company to attract additional clients; the effect of the Company's accounting policies; and other risk factors detailed in the Company's filings with the Securities and Exchange Commission.