Trans World Entertainment to Host Third Quarter Earnings Conference Call

ALBANY, N.Y., Oct 30, 2001 /PRNewswire via COMTEX/ — Trans World Entertainment
Corp. (Nasdaq: TWMC), a leading retailer of entertainment products, will host
its quarterly teleconference call for members of the financial community on
Wednesday, November 14, 2001 at 10:00 AM ET to discuss a press release, which
will be issued on Tuesday, November 13, 2001 after the close of market regarding
its third quarter results. This call will be simultaneously webcast at the
Company’s 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. Mall locations include Camelot, Record Town, The Wall, Disc
Jockey, Saturday Matinee and F.Y.E. Freestanding locations include 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 Corp., +1-518-452-1242, ext. 7400; or Michael Lendener of The
MWW Group, Investor Relations, +1-212-704-9727, , for Trans
World Entertainment Corp.

URL: http://www.twec.com