Trans World Entertainment to Ring NASDAQ Opening Bell

Company Celebrates 20 Years Listed on The NASDAQ Stock Market

ALBANY, N.Y., June 19 /PRNewswire-FirstCall/ — Trans World Entertainment
Corporation (Nasdaq: TWMC) today announced that Robert J. Higgins, Chairman
and Chief Executive Officer, will ring The NASDAQ Stock Market opening bell on
Friday, June 23, 2006 at 9:30 a.m. EDT, in recognition of 20 years as a
NASDAQ-listed company.

“Trans World is honored to take part in the opening bell ceremony and mark
20 years of trading on the NASDAQ,” said Robert J. Higgins, Chairman and Chief
Executive Officer of Trans World Entertainment. “We are proud to celebrate
this milestone and consider it a tribute to the accomplishments of the Trans
World team in making the Company an industry leader and America’s destination
for all things entertainment.”

Trans World Entertainment is a leading specialty retailer of music, video
and video game products. The Company operates over 1,100 retail stores in the
United States, the District of Columbia, the U.S. Virgin Islands and Puerto
Rico. The Company operates mall stores under the f.y.e., Sam Goody and
Suncoast brands and freestanding locations under the names Coconuts Music and
Movies, Strawberries Music, Wherehouse, Sam Goody, Spec’s and Second Spin. The
Company also operates on the web at http://www.fye.com,
http://www.coconuts.com, http://www.wherehouse.com, http://www.secondspin.com,
http://www.samgoody.com and http://www.suncoast.com.

Certain statements in this release 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.

SOURCE Trans World Entertainment Corporation

CONTACT: John J. Sullivan, EVP, Chief Financial Officer of Trans World
Entertainment, +1-518-452-1242 ext. 7400; or Rich Tauberman of MWW Group,
+1-201-507-9500,