Trans World Entertainment to Host Holiday Sales Conference Call

ALBANY, N.Y., Jan 2, 2002 /PRNewswire via COMTEX/ — Trans World Entertainment
Corp. (Nasdaq: TWMC), a leading retailer of entertainment products, will host a
teleconference call for members of the financial community on Wednesday, January
9th at 10:00 AM ET to discuss a press release, which will be issued on Tuesday,
January 8th after the close of market regarding its holiday sales results. This
call will be simultaneously webcast at the Company’s corporate website,
http://www.twec.com.

About Trans World Entertainment Corp.

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,
http://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 Corp.

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