World Wrestling Federation Entertainment, Inc. announces the formation of the XFL - a new professional football league

STAMFORD, CT (February 3, 2000) - World Wrestling Federation Entertainment, Inc. (NMS: WWFE) announced today the formation of the XFL - a new professional football league that is scheduled to kickoff in February 2001.

The inaugural season is expected to feature a ten-game regular schedule played at major stadiums in each city, and will conclude with a four-team playoff, and a Championship game at a neutral site. Through subtle rule changes designed to enhance the action and speed of the game, along with technical innovations that will bring fans inside huddles and on to the sidelines, the XFL is designed to accentuate the action that football fans crave.

"The appetite for professional football continues long past the Super Bowl," said Vince McMahon, Chairman of World Wrestling Federation Entertainment, Inc. "The XFL is more than just an extension of the football season, it is a completely new product that not only fills a void for football fans, but will give the casual fan an all-access pass to a football experience unlike any other to date. The action will feature the best football players available and will be highly competitive, hard-hitting, and most importantly, fan friendly. Guaranteed." 

World Wrestling Federation Entertainment Inc. has built a highly qualified team to launch the XFL. Similar to his past role with the World Wrestling Federation, Basil DeVito, President of New Business Development at World Wrestling Federation Entertainment Inc. will oversee the day-to-day operations of the XFL. His new role will utilize his extensive television syndication, advertising, sponsorship, public relations, live event sales and pay-per-view experience. Michael Keller, a former senior executive with the start-up USFL Michigan Panthers, start-up World League of American Football, and assistant General Manager with the NFL's Seattle Seahawks, as well as a former linebacker for the Dallas Cowboys, will serve as the XFL's Vice President of Football Operations.

While World Wrestling Federation Entertainment, Inc. expects to announce broadcast and cable television contracts at a later date, the XFL has already retained Michael Weisman, a highly respected, award-winning producer whose credits include seven Super Bowls as a broadcast production consultant.

"The XFL will attract the entire football-viewing demographic, strengthened by our unique understanding of the young, adult male audience. That, combined with our extensive experience filling venues and executing live events will help lead to the success of the XFL," McMahon added.