Trans World Entertainment CEO Bob Higgins Inducted Into Video Business Video Hall of Fame

Higgins Joins Walt Disney and 79 Other Luminaries Who Have Received Prestigious Industry Award

ALBANY, N.Y., Dec. 12 /PRNewswire-FirstCall/ — Trans World Entertainment
Corporation (Nasdaq: TWMC), a leading retailer of entertainment products,
today announced that Chairman and CEO Robert J. Higgins was inducted into the
Video Business Video Hall of Fame on December 8, 2003.

Video Business founded the Video Hall of Fame in 1981 to recognize
outstanding contributors to the business of home entertainment while aiding
children in need. The Hall of Fame, now with 80 inductees, benefits three
charities: Variety — The Children’s Charity (not affiliated with Video
Business sister publication Variety), Fast Forward to End Childhood Hunger and
the Samara Jan Turkel Foundation. To date the organization has raised
$3 million for charity.

“I am thrilled to be recognized by Video Business and join a group of true
industry visionaries and icons in the Video Hall of Fame,” said Higgins. “It
is particularly gratifying as Trans World is often considered a music
retailer. We have moved aggressively into the video market, which will
continue to be a key focus and growth driver for our Company. We have been
successful in transitioning our product mix to emphasize video as CD sales
have been impacted and our recent Wherehouse acquisition will further build on
this strength.”

Bob Higgins founded wholesaler Trans World Music Corp. in 1972 and opened
a retail store a year later. He sold the wholesale business to concentrate on
retail, with Albany, N.Y.-based Trans World going public in 1986.

Trans World Entertainment is a leading specialty retailer of music and
video products. The Company operates 950 retail stores in 47 states, the
District of Columbia, the U.S. Virgin Islands, Puerto Rico and e-commerce
sites, www.fye.com and www.wherehouse.com . In addition to its mall
locations, operated primarily under the FYE brand, the Company also operates
freestanding locations under the names Coconuts Music and Movies, Strawberries
Music, Wherehouse, CD World, Spec’s and Planet Music.

SOURCE Trans World Entertainment Corporation
12/12/2003

CONTACT: John Sullivan, Executive Vice President and Chief Financial
Officer of Trans World Entertainment Corporation, +1-518-452-1242, ext. 7400;
or Kimberly Storin, Investor Relations Counsel, The MWW Group,
+1-212-704-9727, , for Trans World Entertainment Corporation

Web site: http://www.fye.com
http://www.wherehouse.com
(TWMC)