AMARILLO, Texas, July 29, 1999--Hastings Entertainment, Inc. (Nasdaq: HAST), a leading multimedia entertainment superstore and Internet retailer, today announced the company has signed an agreement with Yahoo!Ò (Nasdaq: YHOO), a leading global Internet media company, to deliver live entertainment events through Yahoo! Broadcast Services (formerly broadcast.com inc.).

Hastings will feature the live Internet broadcasts, which will highlight concerts, book signings and other live entertainment events, on its e-commerce Web site, www.gohastings.com. During each event, Web participants will be able to view personal interviews with the artist, purchase autographed copies of the artist’s product and submit on-line questions that will be personally answered by the artist following the performance.

"This new relationship with Yahoo! for Yahoo! Broadcast Services extends Hastings’ ability to interact with our customers in each community through our special events programming worldwide on the Web," stated John Marmaduke, president and chief executive officer. "This is an exciting way to allow each of our customers to feel closer to the entertainment experience. It is like a back stage pass to each entertainment event!"

Founded in 1968, Hastings Entertainment, Inc. is the leading multimedia entertainment retailer that combines the sale of books, music, software, periodicals, DVDs and videos with the rental of videos, DVDs and video games in a superstore format. The company currently operates 137 superstores located primarily in small to medium-sized markets in 20 states across America. Hastings superstores average 21,200 square feet and total approximately 2.9 million square feet of retail space under lease. The company has opened eight superstores thus far in fiscal 1999 and anticipates opening 12 additional superstores during the remainder of the fiscal year.

Hastings also operates www.gohastings.com, an e-commerce Internet Web site that makes available to customers more than 10 million new and used entertainment products and unique gifts and toys. The site features exceptional product and pricing offers, including best-selling books at up to 50% off list price. In addition, investors and customers can review general and financial information about Hastings at this Web site.