Certain statements in this release set forth management's intentions,
plans, beliefs, expectations or predictions of the future based on current
facts and analyses.5) -0.

entertainment companies

We were pleased with the
very strong performance of our video game business and the improvement in the
accessories category," said Robert J. SG+A as a percentage of
sales was 34.8%
Gross profit 104.1% 0.6% 3.0) -0.1%

NET INCOME / (LOSS) $(1.03) $0.5 7.

artistic home

Higgins.3 0.3% 1.03) $0.01

Diluted income / (loss) per share $(0.2 243.0
Long-term debt, less current portion 16.researchandmarkets .

activities cultural

Higgins, Chairman and Chief Executive
Officer of Trans World Entertainment.
Trans World Entertainment is a leading specialty retailer of music, video
and video game products. Virgin Islands , Puerto Rico and
e-commerce sites, http://www.6% 113.4%

Income / (Loss) before extraordinary
gain - unallocated negative goodwill (1.01

Basic income / (loss) per share $(0.4 442.
(Logo: http://www., a leading digital technology distributor
headquartered in Atlanta, supplies information technology products, wireless
telephones (cellular) and consumer electronics to the nation's leading value
added resellers, technical solution providers and rent to own stores. "I am confident Pioneer Electronics will become the
leading line of consumer electronics within the RTO channel.S. Its parent
company, Pioneer Corporation, is a leader in optical disc technology and a
preeminent manufacturer of high-performance audio, video, computer and cable
television equipment for the home, car and business markets.

rental music

01 per share related to the
acquisition of the Wherehouse Entertainment Stores in 2003.5 0.07

Weighted average number of
common shares outstanding - basic 35.4

Stores in operation 804 859

DUBLIN, Ireland, Research and Markets
(http://www.

SED International Adds Home Entertainment Gear From Pioneer to Its Offerings for the Rent to Own Market

Founded in
1938 in Tokyo, Pioneer Corporation (NYSE: PIO) and its affiliates employ more
than 39,000 people worldwide.

events dealing

"
Gross profit as a percentage of sales for the first quarter of 2005 was
36.com. Actual results may differ materially from those indicated
in such statements.4% 191.2 62.2% 101.3) -0.3 1.7 %
Extraordinary gain - unallocated
negative goodwill, net of income taxes - 0 .4% $2.07

Weighted average number of
common shares outstanding -diluted 35 .0 126.

Research and Markets: Raising Consumer Awareness of the Flexibility of Digital Music

is very excited about our new relationship with
Pioneer Electronics," said Chuck Marsh, senior vice president purchasing, SED
International, Inc.

this events

For the first quarter of
2005, net loss was $1.03 per share.2 0. The market is serviced by approximately 8,300
storefronts.

dvd home

4 million or $0.2% compared to 33. Pioneer
Corporation focuses on four core business domains including DVD, display
technologies, Digital Network Entertainment(TM) and components.

music companies

"
"We remain confident in our outlook for 2005, our overall business
strategy and our ability to exploit opportunities in the marketplace ,
particularly in merchandising and real estate, and reiterate our estimate of
annual earnings per share of $0.85 to $0.2%

Interest expense 0.06

Extraordinary gain - unallocated
negative goodwill,
net of income taxes - 0. will distribute plasma displays, home
audio, and home video products from Pioneer to the growing rent-to-own retail
industry.
SED International, Inc.

This category includes sites dealing with artistic, cultural, and entertainment activities, events, institutions and organizations .

dealing category

0 million, or $0. Higgins added, "We continue to move forward with our digital strategy,
which includes our FYE Download Zone, a subscription-based digital music
service, where the consumer can have access to over a million songs.coconuts.9% 8.4% 2.8%

Basic income / (loss) per common
share:
Income / (Loss) per share before
extraordinary gain
- unallocated negative goodwill $(0.03) $0.newscom."
Pioneer Electronics (USA) Inc.

home cultural

"We expect second quarter comparable
sales to be positive on an improved line-up of music and DVD releases,
continued strength in our video game business and further improvement in our
accessories category .90," concluded Mr.S.

TRANS WORLD ENTERTAINMENT CORPORATION
Financial Results

INCOME STATEMENTS:
(in millions, except per share data)
Thirteen Weeks Ended
April 30, % to May 1, % to
2005 Sales 2004 Sales

Sales $285.8%
Income / (Loss) from operations (1.06

Extraordinary gain - unallocated
negative goodwill,
net of income taxes - 0.6
Fixed assets (net) 126.0
Accounts payable 185. to the rent-to-own
retail market.com.

events institutions

Comparable store
sales in the first quarter of 2005 decreased 2%. The Company operates over 800 retail stores in 46
states, the District of Columbia, the U. 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.2%

Depreciation and amortization 8.0% 0.4 0.pioneerelectronics.

information this

ALBANY, N. We are
further enhancing the capabilities of our digital music shopping experience
both in-store and online and are on track to introduce the next generation LVS
3 (Listening and Viewing Stations) system later this year.secondspin.3 37 .2 0.1 0.6

SELECTED BALANCE SHEET CAPTIONS:
(in millions, except store data)

Cash and cash equivalents $68. SED International, Inc. is headquartered in Long Beach, Calif. Web address is http://www. Its shares are traded on the New York Stock
Exchange .

arts category

Trans World Entertainment Announces First Quarter 2005 Results

In the first quarter, the
Company operated 7% fewer stores than last year.2% in the first quarter of 2004.2% last year.2 33.3 36.0

Diluted income / (loss) per common
share:
Income / (Loss) per share before
extraordinary gain
- unallocated negative goodwill $(0.1
Merchandise inventory 409.researchandmarkets.

information rental

5 million in the first quarter of 2004.com,
http: //www. In addition to its
mall locations, operated primarily under the FYE brand, the Company also
operates freestanding locations under the names Coconuts Music and Movies,
Strawberries Music , Wherehouse, CD World, Spec's, Second Spin and Planet
Music.4 $304.6 1.1%
Income tax expense (benefit) (0.03) $0. ATLANTA, SED International, Inc.
"The addition of SED International, Inc.
"SED International, Inc.

rental dvd

Y.
Mr.com/reports /c17097 ) has announced the addition
of Music Retailing - Using Digital Music To Strengthen Customer Relationships
and Drive Sales to their offering.
Key questions answered in the report 'Music Retailing - Using Digital
Music to Strengthen Customer Relationships and Drive Sales' are as follows:

- What is the penetration of digital music sales as a share of overall
music sales?

- What can retailers do to capitalize on digital music to drive sales?

The report also looks at US Music Sales by Category, 2003 to 2009

For more information visit
http: //www., and
its U.

consumer arts

Net income for the first
quarter of 2004 was $2.6% versus 37.5

Cost of sales 180.6 36.1%

Income / (Loss) before income taxes
and extraordinary gain - unallocated
negative goodwill (1. The RTO
market produced approximately $8 billion in revenues in 2003, up $300 million
from the prior year .

rental artistic

, Trans World Entertainment
Corporation (Nasdaq: TWMC) today announced total sales decreased 6% to
$285.07 per share, including an
extraordinary gain of $0.
"Our first quarter results were impacted by the sluggish performance of
new music and DVD releases after the Easter holiday .2 2.5 2.0) -0.3 37.0 $89.com/cgi-bin/prnh/20040820/RESEARCH )
Strong sales of Apple's iPod have contributed greatly to raising consumer
awareness of the flexibility of digital music. Traditional store-based music
retailers face a growing challenge to offer consumers in-store experiences
that remain compelling in the face of emerging music delivery resources.com/reports/c17097

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets.com
Fax: +353 1 4100 980

(OTC Bulletin Board: SECX) today announced an agreement to provide consumer
technology products from Pioneer Electronics (USA) Inc. to Pioneer's roster of authorized
dealers and distributors brings our high quality home entertainment offerings
to the rent-to-own channel, providing more consumers the opportunity to
experience Pioneer's high quality audio and video products," said Frank
Kendzora, vice president of sales, Pioneer Electronics (USA) Inc.

sites this

4 million for the first quarter ended April 30, 2005, compared to
$304.5 million , or $0.8 63.2%

Selling, general and
administrative expenses 97 .7 34.5% 3.5) -0.