Trans World Entertainment Appoints Fred Fox Executive Vice President; Retail Executive to Direct Merchandising and Marketing Efforts

ALBANY, N.Y., Mar 4, 2002 /PRNewswire-FirstCall via COMTEX/ — Trans World
Entertainment Corporation (Nasdaq: TWMC) announced today that Fred Fox, 44, has
joined the Company as Executive Vice President, Merchandising and Marketing,
reporting to Robert J. Higgins, Chairman and Chief Executive Officer.

“Fred’s broad business experience makes him extremely well-qualified to lead our
merchandising and marketing team” said Higgins.

Mr. Fox is a seasoned retail executive with over twenty-four years of diverse
experience encompassing Merchandising, Marketing, Operational and Supply Chain
management. Mr. Fox joins Trans World Entertainment after holding several key
executive-level positions at OfficeMax and Montgomery Ward with P&L
responsibilities exceeding $1.7 billion annually. His recent experience includes
the successful development, launch, and sale of eCommerce entities with sales
volume exceeding $400 million annually. Mr. Fox has also held various management
positions with Circuit City Stores, Incorporated, Target Stores, and Fisher
Scientific Company, LLC.

Trans World Entertainment is a leading specialty retailer of music and video
products. The Company operates retail stores in 46 states, the District of
Columbia, the U.S. Virgin Islands, Puerto Rico and an e-commerce site,
www.fye.com. In addition to its mall locations, operated under the FYE brand,
the Company also operates freestanding locations under the names Coconuts Music
and Movies, Strawberries Music, Spec’s and Planet Music.

SOURCE Trans World Entertainment Corporation

CONTACT:          John Sullivan, Chief Financial Officer of Trans World
Entertainment Corporation, +1-518-452-1242, ext. 7400; or Investor Relations,
Michael Lendener of The MWW Group, +1-212-704-9727, , for
Trans World Entertainment Corporation

URL: http://www.fye.com