WWE Issues Press Release On New WWE Magazine

WWE issued the following press release about the new WWE Magazine:

New WWE(R) Magazine Launches July 11
STAMFORD, Conn.–(BUSINESS WIRE)–July 5, 2006–World Wrestling Entertainment? will launch a new men's lifestyle magazine on Tuesday, July 11. The new "WWE Magazine" will focus on the lifestyles of WWE Superstars and Divas, their activities outside the ring, and what they like in movies, music, gadgets, fashion and other items of interest to young men in their twenties.

"This is a complete rebirth of our publishing division. We've been planning on giving our audience a look behind the curtain for years and now is the perfect time to do it. The new WWE Magazine is what our fans won't see on TV," said Shane McMahon, Executive Vice President, Global Media, World Wrestling Entertainment.

A significant marketing blitz is planned for the magazine's launch, with WWE using its considerable television, live event and online assets to promote the new venture.

WWE hired two well-respected publishing industry veterans to fold its preexisting magazines "RAW?" and SmackDown?" into one new title.

Bob Lee, the new Vice President and Publisher of WWE's Magazine Group, is overseeing all distribution, marketing, and advertising sales. Prior to joining WWE, Lee served as publisher of "Sync Magazine," where he launched the first men's tech-tainment magazine. Lee was featured in "Folio Magazine" as one of the "Top-Ten Media Executives to Watch in 2004." Previously, Lee was publisher of "Gear Magazine" and has worked at "Discover," "Elle," and "Us Weekly."

Lee says he was attracted to WWE because of the connection between the WWE Superstars and WWE fans. "The connection is unmatched in any other property. Our fans are the ultimate consumers of goods which are affiliated with our Superstars," Lee said. "The new WWE Magazine is designed to attract a larger segment of the WWE fan base, and to appeal to a wide range of advertisers that target readers of lad titles and other men's lifestyle magazines. The agencies to which we've spoken have been very receptive to the new look and broader appeal of our magazine."

Tony Romando, the new Vice President and Editor-In-Chief for WWE's Magazine Group, has built his career on successful magazine launches, including "Jane" and "FHM" and has been involved in the rebranding of magazines like "Rolling Stone" and "Men's Fitness."

"I'm looking forward to the launch of WWE magazine as much as anything I've done in my career," said Romando. "One of the things that drew me to WWE was the company's tremendous media presence, and how it uses that presence to create a 360-degree approach to marketing."

World Wrestling Entertainment, Inc. (NYSE: WWE – News) 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.

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 agreements, including television distribution agreements; 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.