World Wrestling Entertainment Inc.

2008 News Releases

WWE® To Cease Affiliation With Ohio Valley Wrestling

February 7, 2008
World Wrestling Entertainment® announced today that Ohio Valley Wrestling (OVW) will no longer be affiliated with World Wrestling Entertainment as an official developmental territory, making Florida Championship Wrestling™ (FCW™) WWE’s official development training facility for talent around the globe.

“Ohio Valley Wrestling has been a tremendous partner with World Wrestling Entertainment through the years, and we thank them for their work in developing many of today’s WWE Superstars,” said John Laurinaitis, Senior Vice President of Talent Relations. “We look forward to Florida Championship Wrestling playing host to the next generation of WWE Superstars recruited from around the world.”

Last November, WWE announced the formation of Florida Championship Wrestling, a new training center for future WWE Superstars. The facility has four wrestling rings and approximately 35 contracted athletes, with plans to increase that number to more than 70 in the near future. The facility is now fully operational, as WWE undertook large-scale renovations to FCW in order to accommodate its training needs. The finished training facility is more than 10,000 square feet, including an arena that will seat nearly 300 fans. The new training facility will also host a weekly show in front of a live audience, to be broadcast for regional television.

FCW is owned and operated by Steve Keirn, a former professional wrestler and producer for WWE. WWE trainer Tom Prichard oversees all talent training at the facility.

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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, feature films, 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.