Trans World Entertainment Opens FYE Store in Arundel, Maryland

ALBANY, N.Y.–(BUSINESS WIRE)–Nov. 16, 2000–Trans World
Entertainment Corporation (Nasdaq National Market: TWMC) today
announced plans to open a new For Your Entertainment (F.Y.E.) store in
the Arundel Mills Shopping Center in Hanover, Maryland on November 17.
The new store will be the fourteenth F.Y.E. store across 8 states and
the first in Maryland.

“We are very pleased with the performance of our F.Y.E. store
format,” commented Robert J. Higgins, Trans World’s Chairman and Chief
Executive Officer. “We look forward to the future expansion of this
format as we continue to serve the needs of all our customers.”

F.Y.E. stores carry a broad assortment of music and video
merchandise and an extensive selection of games, portable electronics,
accessories and boutique items. F.Y.E. makes the traditional
superstore experience available to shopping mall consumers.

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.twec.com. Mall locations include Camelot, Record
Town, The Wall, Disc Jockey and Saturday Matinee and F.Y.E.
Freestanding locations include Coconuts Music and Movies, Strawberries
Music, Spec’s and Planet Music.

Certain statements in this report set forth management’s
intentions, plans, beliefs, expectations or predictions of the future
based on current facts and analyses. Actual results may differ
materially from those indicated in such statements. Additional
information on factors that may affect the business and financial
results of the Company can be found in filings of the Company with the
Securities and Exchange Commission.

CONTACT: TRANS WORLD ENTERTAINMENT CORPORATION
John Sullivan, 518/452-1242 ext. 7400
Chief Financial Officer
or
THE MWW GROUP
Michael Lendener, 212/704-9727
Investor Relations