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Tuesday, January 9, 2001

TRANS WORLD AUTHORIZES
STOCK BUYBACK

Board OK’s Repurchase Of Five Million Shares, Trades Two Members For First-Round Draft Pick

Trans World Entertainment Corporation today announced that its board approved and extension of its stock repurchase program, authorizing the repurchase by the company of an additional five million shares of common stock.

It is the third time in the last 12 months that the board has approved a stock buyback. Under previously announced programs, the company has repurchased 10 million shares of common stock.

"We continue to believe the stock of Trans World Entertainment is undervalued and represents an excellent investment opportunity," said Trans World's Chairman and CEO Robert J. Higgins. "Our strong financial position blah blah blah ongoing growth initiatives yadda yadda deploying surplus cash blah blah blah maximize returns for our shareholders."

 
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