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The details for the number of buys (in 000's) are as follows:              Event                       Q1 Transition 06       Q1 F06           ---------                     ----------------       -------    Backlash(R)                                      -             273    Judgment Day(R)                                231             236    ECW(R) One Night Stand                         280             268    Vengeance(R)                                   313             320    Great American Bash(R)                         224             233    Prior events                                   166             115                                      -----------------  --------------    Total                                        1,214           1,445                                      =================  ==============  

• Beginning with the ECW One Night Stand pay-per-view, the North American retail price was increased by $5.00 to $39.99 in order to bring the price closer in line with similar sporting events. This represents our first increase in the Pay-Per-View retail price in more than four years.
• International buys, which generate lower revenues per buy, comprised approximately 40% of total buys in the current quarter as compared to 28% of total buys in the prior year quarter.
• Live Event revenues were $15.9 million as compared to $16.5 million in the first quarter of last year.
• There were 86 events, including 2 international events, during the quarter as compared to 70 events, including 7 international events, during the same period last year.
• North American average attendance increased to approximately 5,300 in the current quarter as compared to 4,600 in the prior year quarter.
• International events generated approximately $0.3 million in the current quarter as compared to $5.7 million in the prior year quarter. The two events in the current quarter were performed in emerging territories in Latin America while the seven events in the prior year quarter consisted of two tours that performed in well established markets including Japan and the United Kingdom.
• Seven ECW live events were produced in the current quarter, generating approximately $0.2 million with an average ticket price of approximately $26.00 and average attendance of approximately 1,000. While we continue to develop and grow the brand, ECW events are currently held in smaller venues which generate lower average attendance and revenues per event.
• Venue Merchandise revenues were $4.7 million as compared to $3.3 million in the first quarter of last year, primarily reflecting the increase in North American attendance. Also, the venue merchandise per capita spending by our fans increased by approximately $0.40 to $11.00 in the current quarter.
• Television Rights Fees revenues were $22.2 million as compared to $20.0 million in the prior year quarter. This increase is partially due to the rights fees received from our ECW telecasts.
• Television Advertising revenues were $1.1 million as compared to $10.4 million in the prior year quarter. This decline was due to our television distribution agreement with USA Network, which became effective in October 2005. Due to this change, we no longer participate in domestic television advertising sales. Advertising revenues in the current quarter include sales of advertising on our Canadian television programs and various sponsorship packages.

Consumer Products

Revenues from our Consumer Products businesses were $23.3 million versus $18.2 million in the prior year quarter, a 28% increase.

• Home Video net revenues were $14.5 million as compared to $8.5 million in the prior year quarter, reflecting a 55% increase in gross units sold. Our WrestleMania® 22 DVD sold approximately 345,000 gross units in the quarter, representing our best selling title to date. Based on the strength of this release, combined with the release of several other successful titles, we shipped approximately 1.1 million units in the current quarter.
• Licensing revenues were $5.6 million as compared to $7.5 million in the prior year quarter, reflecting decreases in novelty and multimedia game product sales. The prior year quarter reflected sales of our WrestleMania 21 videogame while no new videogames were released in the comparable period this year.
• Magazine Publishing net revenues were $3.1 million as compared to $2.1 million in the prior year quarter, reflecting an additional issue sold in the current quarter. Beginning in July, we began publishing WWE® Magazine, which replaces our two former magazines, Raw® and SmackDown®.

Digital Media

Revenues from our Digital Media related businesses were $5.6 million as compared to $3.7 million in the prior year quarter, a 51% increase.

• WWE.com revenues were $2.1 million as compared to $1.7 million in the prior year quarter, reflecting additional revenues from advertising and wireless based content.
• WWE Shop revenues were $3.3 million as compared to $1.8 million in the prior year quarter, primarily due to a 68% increase in the number of orders processed during the current quarter.

WWE Films

Our first feature film, See No Evil, was released on May 19, 2006, and generated approximately $15.0 million in gross domestic box office receipts and is currently being distributed in international theatrical markets. WWE does not participate in any revenues associated with this film project until the print and advertising costs incurred by our distributor have been recouped. Accordingly, no revenues have been recorded in the current quarter.

Profit Contribution (Net revenues less cost of revenues)

Profit contribution for the quarter was $40.0 million as compared to $41.3 million in the prior year quarter. Total profit contribution margin was approximately 43% for the current quarter as compared to 44% for the prior year quarter. The decline in the profit contribution is due in part to the absence of domestic television advertising revenues in our Live and Televised Entertainment segment.

Selling, general and administrative expenses

SG&A expenses were $22.5 million for the current quarter as compared to $22.8 million in the prior year quarter.

EBITDA

EBITDA was approximately $17.5 million in the current quarter as compared to $18.5 million in the prior year.

Cash Flows

Net cash provided by continuing operations was $2.4 million for the quarter ended July 28, 2006, as compared to $21.6 million for the quarter ended July 29, 2005. In the current quarter we spent approximately $12.6 million on the production of feature films and approximately $1.5 million for the purchase of additional film libraries.

Change in Fiscal Year

As previously disclosed, the Company will switch to a calendar year basis beginning with calendar year 2007. This change is intended to simplify our communication with shareholders and will enable us to report our financial results in a timeframe consistent with the majority of our media and entertainment peers. We will issue one additional quarterly report for our second fiscal quarter ending October 27, 2006, and will subsequently file a transitional annual report for the eight months ended December 31, 2006.

Transition Period Outlook

We continue to expect the results of our 2006 transition period to be approximately even with the $30 million of Net Income and $0.43 EPS from continuing operations in the comparable prior year period.

Note: World Wrestling Entertainment, Inc., will host a conference call on August 31, 2006, at 11:00 a.m. ET to discuss the Company's first quarter earnings results for the 2006 transition period. All interested parties can access the conference call by dialing 800-895-0231 (conference ID: WWE). Please reserve a line 15 minutes prior to the start time of the conference call. A presentation that will be referenced during the call can be found at the Company web site at corporate.wwe.com. A replay of the call will be available approximately three hours after the conference call concludes, and can be accessed at corporate.wwe.com.

World Wrestling Entertainment, Inc., (NYSE: WWE - News) is an integrated media and entertainment company headquartered in Stamford, Conn. 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.

                 World Wrestling Entertainment, Inc.                     Consolidated Income Statements        (dollars and shares in thousands, except per share data)                              (Unaudited)                                                      Three Months Ended                                                    July 28,  July 29,                                                      2006      2005                                                    --------- ---------  Net revenues                                       $ 93,267  $ 93,812  Cost of revenues                                     53,266    52,501 Selling, general and administrative expenses         22,508    22,815 Depreciation and amortization                         1,860     2,696                                                     --------  --------  Operating income                                     15,633    15,800  Investment income, net                                2,486     1,872 Interest expense                                        137       152 Other expense, net                                     (496)      (73)                                                     --------- --------- Income from continuing operations before   income taxes                                        17,486    17,447  Provision for income taxes                            6,184     6,269                                                     --------  --------  Income from continuing operations                    11,302    11,178                                                     --------  --------  Income from discontinued operations, net of taxes         -         2                                                     --------  --------  Net income                                         $ 11,302  $ 11,180                                                     ========  ========  Earnings per share - basic and diluted:      Continuing operations                         $   0.16  $   0.16      Discontinued operations                           0.00      0.00                                                     --------  --------      Net income                                    $   0.16  $   0.16                                                     ========  ========  Shares used in per share calculations:      Basic                                           70,708    68,899      Diluted                                         71,364    69,627                     World Wrestling Entertainment, Inc.                      Consolidated Balance Sheets                         (dollars in thousands)                              (Unaudited)                                                    As of       As of                                                   July 28,   April 30,                                                     2006        2006                                                  ---------------------           ASSETS  CURRENT ASSETS:       Cash and equivalents                        $ 130,869  $ 175,203      Short-term investments                        133,417    105,655      Accounts receivable, net                       57,858     67,775      Inventory, net                                  2,544      1,788      Prepaid expenses and other current assets      11,017     11,140      Assets of discontinued operations                 461        457                                                   ---------  ---------           Total current assets                     336,166    362,018  PROPERTY AND EQUIPMENT, NET                         67,857     67,570  FEATURE FILM PRODUCTION ASSETS                      48,656     36,094  INTANGIBLE ASSETS, NET                               2,738      1,461  OTHER ASSETS                                        12,060     12,247                                                   ---------  --------- TOTAL ASSETS                                     $ 467,477  $ 479,390                                                   =========  =========         LIABILITIES AND STOCKHOLDERS' EQUITY  CURRENT LIABILITIES:      Current portion of long-term debt           $     833  $     817      Accounts payable                               15,305     19,826      Accrued expenses and other liabilities         33,979     36,017      Deferred income                                18,211     19,874      Liabilities of discontinued operations            294        294                                                   ---------  ---------           Total current liabilities                 68,622     76,828  LONG-TERM DEBT                                       6,167      6,381  STOCKHOLDERS' EQUITY:      Class A common stock                              229        227      Class B common stock                              479        479      Additional paid-in capital                    280,314    277,693      Accumulated other comprehensive income             58        355      Retained earnings                             111,608    117,427                                                   ---------  ---------           Total stockholders' equity               392,688    396,181                                                   ---------  ---------  TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY       $ 467,477  $ 479,390                                                   =========  =========                     World Wrestling Entertainment, Inc.                 Consolidated Statements of Cash Flows                         (dollars in thousands)                              (Unaudited)                                                    Three Months Ended                                                   July 28,    July 29,                                                     2006        2005                                                   ---------  --------- OPERATING ACTIVITIES: Net income                                        $ 11,302   $ 11,180  Adjustments to reconcile net income to net cash   provided by operating activities:    Income from discontinued operations, net of     taxes                                                -         (2)    Revaluation of warrants                             866       (639)    Depreciation and amortization                     1,860      2,696    Amortization of investment income                  (122)      (263)    Stock compensation costs                          1,534        579    Provision for doubtful accounts                       -        370    Provision for inventory obsolescence                448        307    (Benefit) provision for deferred income taxes      (587)       308    Changes in assets and liabilities:        Accounts receivable                           9,917      7,179        Inventory                                    (1,204)      (534)        Prepaid expenses and other assets               123        200        Feature film production assets              (12,562)    (1,952)        Accounts payable                             (4,520)       243        Accrued expenses and other liabilities       (3,154)     4,537        Deferred income                              (1,541)    (2,588)                                                    --------   --------           Net cash provided by continuing            operations                                2,360     21,621           Net cash provided by discontinued            operations                                    -        136                                                    --------   --------           Net cash provided by operating            activities                                2,360     21,757                                                    --------   --------  INVESTING ACTIVITIES: Purchase of property and equipment                  (1,890)      (255) Purchase of other film library assets               (1,534)         - Purchase of short-term investments                 (45,854)    (1,325) Proceeds from sales or maturities of short-term  investments                                        17,850      5,470                                                    --------   --------           Net cash (used in) provided by            continuing operations                   (31,428)     3,890           Net cash used in discontinued            operations                                    -          -                                                    --------   --------           Net cash (used in) provided by            investing activities                    (31,428)     3,890                                                    --------   --------  FINANCING ACTIVITIES: Repayments of long-term debt                          (199)      (184) Dividends paid                                     (16,954)    (8,267) Issuance of stock, net                                 229        187 Proceeds from exercise of stock options              1,291        529 Excess tax benefit from stock-based payment  arrangements                                          367          -                                                    --------   --------           Net cash used in continuing operations   (15,266)    (7,735)           Net cash used in discontinued            operations                                    -          -                                                    --------   --------           Net cash used in financing activities    (15,266)    (7,735)                                                    --------   --------   NET (DECREASE) INCREASE IN CASH AND CASH  EQUIVALENTS                                       (44,334)    17,912 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD     175,203     56,568                                                    --------   -------- CASH AND CASH EQUIVALENTS, END OF PERIOD          $130,869   $ 74,480                                                    ========   ========                     World Wrestling Entertainment, Inc.                   Supplemental Information - EBITDA                         (dollars in thousands)                              (Unaudited)                                                   Three Months Ended                                                  July 28,    July 29,                                                   2006         2005                                               -----------  -----------  Net income reported on U.S. GAAP basis        $   11,302   $   11,180  Income from discontinued operations, net               -           (2) Provision for income taxes                         6,184        6,269 Interest and other, net                           (1,852)      (1,647) Depreciation and amortization                      1,860        2,696                                                ----------   ---------- EBITDA                                        $   17,494   $   18,496                                                ==========   ==========   Non-GAAP Measure:  EBITDA is defined as net income from continuing operations before  interest and other income, income taxes, depreciation and amortization. Although it is not a recognized measure of performance  under U.S. GAAP, EBITDA is presented because it is a widely accepted  financial indicator of a company's performance. The Company uses  EBITDA to measure its own performance and to set goals for operating  managers.  EBITDA should not be considered as an alternative to net  income, cash flows from operations or any other indicator of World  Wrestling Entertainment Inc.'s performance or liquidity, determined in accordance with U.S. GAAP.                     World Wrestling Entertainment, Inc.                Supplemental Information- Free Cash Flow                         (dollars in thousands)                              (Unaudited)                                                   Three Months Ended                                                 July 28,     July 29,                                                   2006         2005  Net cash provided by continuing operations    $    2,360   $   21,621  Less cash used in capital expenditures:   Purchase of property and equipment              (1,890)        (255)   Purchase of other film library assets           (1,534)           -                                                -----------  ----------- Free Cash Flow                                $   (1,064)  $   21,366                                               ===========  ===========   Non-GAAP Measure:  We define Free Cash Flow as net cash provided by continuing operations less cash used for capital expenditures. Although it is not a  recognized measure of liquidity under U.S. GAAP, Free Cash Flow  provides useful information regarding the amount of cash our  continuing business is generating after capital expenditures,  available for reinvesting in the business and for payment of  dividends.