World Wrestling Federation Entertainment Drops The F Word

World Wrestling Federation Entertainment is dropping the "F" word and changing its
name to World Wrestling Entertainment to reflect the growing diversity of its
entertainment properties.

"As World Wrestling Federation Entertainment, we have
entertained millions of fans around the United States and
around the globe," said Linda McMahon, CEO of World
Wrestling Entertainment. "Our new name puts the emphasis
on the 'E' for entertainment, what our company does best.
WWE provides us with a global identity that is distinct and
unencumbered, which is critical to our U.S. and international
growth plans."

McMahon said the company began considering
dropping the word "Federation" from its name when World
Wildlife Fund (a/k/a World Wide Fund for Nature) prevailed
in a recent court action in the United Kingdom. The court
ruling prevents the World Wrestling Federation from the use
of the logo it adopted in 1998 and the letters WWF in
specified circumstances. The "Fund" has indicated that
although the two organizations are very different, there is the
likelihood of confusion in the market place by virtue of the
fact that both organizations use the letters WWF. The Fund
has indicated that it does not want to have any association
with the World Wrestling Federation.

"Therefore," said McMahon, "we will utilize this
opportunity to position ourselves emphasizing the
entertainment aspect of our company, and, at the same
time, allay the concerns of the Fund.

"World Wrestling Entertainment and WWE will now be the
identity that we use from the television base we have
established in 130 countries," she said. "As WWE, we will
launch our further expanded U.S. and international touring,
our international expansion of branded merchandise and
licensed products, and our further integration into the film,
publishing and music businesses."

The Tough Enough™
television series on MTV, a new book deal with Simon and
Schuster, and the motion picture, The Scorpion King – all
executive produced by WWE Chairman Vince McMahon
and WWE — are examples of the types of activities the
company plans to undertake as it expands in the
global entertainment industry.

New logo art has been provided to business partners,
licensees and vendors. The company expects that, for the
most part, the changeover to the new name and logo will be
completed within five months.

WWE will continue to trade as WWF on the New York Stock
Exchange until a replacement symbol is found.

In conjunction with the name change, WWE
has changed the name of its entertainment complex in New
York City's Times Square from WWF New York to The
World®, currently the name of its popular night club.