Trans World Entertainment to Operate Rock & Roll Hall of Fame Museum Store

ALBANY, N.Y.–(BUSINESS WIRE)–Oct. 30, 2000–Trans World
Entertainment Corporation (Nasdaq National Market: TWMC) announced
today that it has entered into an agreement to operate The Museum
Store at The Rock & Roll Hall of Fame & Museum.

Under the agreement, which calls for Trans World to receive an
undisclosed management fee based on sales, The Museum Store will be
operated under a joint Camelot and Rock & Roll Hall of Fame logo.

“We are proud to be affiliated with the Rock & Roll Hall of Fame
and Museum, as the synergies between our organizations are obvious,”
commented Bob Higgins, Chairman and Chief Executive Officer. “While
leveraging our operational expertise to drive the performance of this
store, we will seek cross-promotional opportunities with all other
Trans World sales channels.”

Terry Stewart, The Rock & Roll Hall of Fame and Museum’s President
and CEO, said, “The Museum Store is both an integral aspect of the
Rock & Roll Hall of Fame and Museum experience, and a unique retail
environment. We wanted to partner with a strong leader in music
retail, and Trans World was the perfect fit. This agreement will
surely be a win for both organizations and customers alike.”

The Rock & Roll Hall of Fame and Museum is a vital monument to the
brilliance, energy and power of rock and roll music. It honors the
history and celebrates the impact of a music form that has changed the
world’s cultural landscape. In addition to housing one of the largest
collections of rock and roll artifacts in the world, the Museum
presents dynamic world-class exhibitions, exciting live concerts and
innovative community and educational programs.

Trans World Entertainment is a leading specialty retailer of music
and video products. The Company operates retail stores in 45 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, 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.

–30–ac/ny*

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