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/C O R R E C T I O N -- Lemelson Capital, LLC/

In the news release, Lemelson Capital Reaffirms Short Call on WWE, issued 09-Apr-2014 by Lemelson Capital, LLC over PR Newswire, we are advised by the company that the wrong version of the release was issued inadvertently. The complete, corrected release follows:

Lemelson Capital Reaffirms Short Call on World Wrestling Entertainment (WWE)

Shares Fairly Priced Between $8.25 and $11.88

SOUTHBOROUGH, Mass., April 9, 2014 /PRNewswire/ -- Lemelson Capital, LLC, a private investment management firm, today is reiterating its "sell" position on the common stock of World Wrestling Entertainment (NYSE: WWE). 

This guidance follows Lemelson Capital's earlier March 17, 2014 sell position on the stock.  Since then, WWE has experienced a substantial correction, falling 26.8 percent, from a $30.37 March 17, 2014 close to $22.21 yesterday. 

The full report can be found here: http://www.amvona.com/featured/finding-alpha/item/34691-the-short-case-for-world-wrestling-entertainment

Despite this correction, Lemelson Capital today reiterates its position that the stock remains overvalued.  The firm affirms $8.25 to $11.88 as fair value for the stock based on the company's execution track record, accelerating earnings declines and lack of visibility into a more lucrative broadcast network contract. 

"WWE is facing multiple challenging factors, including underwhelming subscription figures for their WWE network in addition to a multi-year negative earnings trend, suggesting that the firms' intrinsic value is materially lower than the current stock price," said Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital.

Lemelson Capital Management's March 17, 2014 sell report has been cited as a key factor in the stock's substantial downward correction. In that report, Lemelson Capital reported that "the 10-year earnings growth rate of the company is -17.3%. The five-year earnings growth rate is something more substantial at -46.2%. The one-year earnings growth rate is a remarkable -91.6%." 

At the close of the market on April 8, 2014, despite the roughly 27 percent correction since Lemelson Capital Management's March 17, 2014 report, WWE is still trading at a price-earnings ratio of 600.

Lemelson Capital and its clients have no position in WWE.

About Lemelson Capital Management

Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments.  The firm is based in Southborough, MA.  For more information, see: http://www.lemelsoncapital.com

Media contact:
Lemelson Capital Public Relations
(508) 485-0607

SOURCE Lemelson Capital, LLC

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