Rick's Cabaret International [NASDAQ: Rick's] Press Releases

Rick's Cabaret International, Inc. Negotiates New Terms For Purchase Of Scores-Las Vegas Club And Extends Closing Date

Tue, 01 Jul 2008 05:00:00 GMT

HOUSTON - (July 1, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , said today it has renegotiated payment terms and set a new closing date for its purchase of the Scores-Las Vegas adult nightclub.

Under the terms of the renegotiated agreement Rick's Cabaret will pay a total purchase price $21 million, payable $12 million in cash to DI Food & Beverage of Las Vegas, LLC, a $5 million convertible debenture bearing four percent interest and a non-convertible promissory note for $4 million at eight percent interest. A new closing date has been set for the later of July 25, 2008 or within five business days of the date of issuance of final permits to operate the club and the assignment of the existing lease.

"We are very pleased with the new terms of the deal, which reduce the amount of cash payable at closing and shifts a greater portion of the purchase price to non-convertible debt," said Eric Langan, President and CEO of Rick's Cabaret. He said there are no apparent difficulties in obtaining the necessary regulatory approval.

Under terms of the original agreement to purchase Scores-Las Vegas, Rick's Cabaret had agreed to pay $16 million in cash and a $5 million convertible debenture bearing four percent interest. The agreement includes an option to buy the property on which the Scores Las Vegas is located.

Closing the transaction remains subject to closing conditions that include, but are not limited to Rick's Cabaret obtaining adequate financing, approval by relevant regulatory authorities of the transfer of ownership in the selling entity and other conditions consistent with transactions of this type.

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Media Contact: Allan Priaulx, 212-338-0050, ir@ricks.com

RICK'S CABARET INTERNATIONAL, INC. WELCOMES INCLUSION IN RUSSELL 2000® LIST

Mon, 30 Jun 2008 05:00:00 GMT

HOUSTON � June 30, 2008 � Rick�s Cabaret International, Inc. (NASDAQ: RICK), the nation�s premier group of upscale gentlemen�s clubs, today welcomed its addition to the Russell 2000� list of leading publicly traded stocks as of June 27, 2008.

�We are delighted to be included in this prestigious list of outstanding companies,� said Eric Langan, President and CEO of the company. �This is another step in our journey to add to shareholder value as we continue to execute our business plan and our acquisition program.�

The Russell 2000 is a stock-market index measuring the performance of 2000 small-capitalization stocks, weighted by the market capitalization of the component stocks. The Russell 2000 is published by the Frank Russell Company..

Mr. Langan noted that the investment community has estimated that index funds based on the Russell 2000 will need to own approximately 400,000 shares of Rick�s Cabaret stock in order to assure proportional representation.

In other Rick�s Cabaret news, Mr. Langan said the company�s nightclubs had record revenues in May and they continue their strong growth, with double digit increases in same location same period sales so far in fiscal 2008.

About Rick�s Cabaret: Rick�s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns, operates or licenses adult nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC," �Club Onyx� and �Tootsie�s Cabaret�. Sexual contact is not permitted at these locations. Rick�s Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick�s Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-looking Statements: This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company�s actual results to differ materially from those indicated in this document, including the risks and uncertainties associated with operating and managing an adult business, the business climates in New York City and elsewhere, the success or lack thereof in launching and building the company�s businesses in New York City and elsewhere, risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information visit www.ricks.com <http://www.ricks.com/>.

Contact: Allan Priaulx, 212-338-0050, ir@ricks.com

Exotic Dancers Excel At More Than Just The Obvious, Says Researcher In Rick's Cabaret "Club Bulletin"

Tue, 24 Jun 2008 05:00:00 GMT

CLEARWATER, FLORIDA - (June 24, 2008) - A respected anthropologist says dancing in topless clubs helps women become poised, self-confident and creative individuals who often go on to higher education and successful business careers.

Judith Lynne Hanna, PhD, a senior research scholar at the University of Maryland, says in an article in the May issue of Exotic Dancer's Club Bulletin that Diablo Cody, who won an Academy Award this year for the "Juno" screenplay, "is one of many performers who prove that exotic dancers are more than sexual objects." Club Bulletin is a bimonthly magazine from ED Publications, Inc., a division of Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] .

"Dancers commonly gain self-esteem and self-confidence appearing nude before strangers," Hanna writes in the business magazine that serves the nearly 4,000 gentlemen's clubs in the U.S. "Successful dancers become acute observers of verbal and nonverbal communication in order to sell a fantasy of themselves and to create the patron's fantasy. Business and money management leads dancers to complete education, start businesses and support families," she adds.

Hanna notes that after Cody won the Oscar for Best Original Screenplay "the media referred to her as having 'once worked as a stripper,' 'a former stripper,' a 'retired stripper.' Commenting about her dress, the question was 'what would you expect from a stripper?' and 'she should have saved more dollar bills and bought a better dress.'"

The reason the media attacked Cody, she said, is that "exotic dancing, the preferred term for stripping since the advent of upscale gentlemen's clubs, is stigmatized and has an unfounded reputation for leading to prostitution, drugs, crime and decreased property values. But recent social science has disproved all of this."

In 2006, Cody was the Keynote Speaker at the 14th Annual Gentlemen's Club Owners EXPO, produced by ED Publications. Cody's invitation to speak at the EXPO came on the heels of the success of her book "Candy Girl: A Year in the Life of an Unlikely Stripper," which chronicled Cody's experiences as a "regular" girl who decided to spice up her life by dancing at adult nightclubs in Minneapolis.

Hanna earned her PhD in anthropology from Columbia University and also holds an MA in political science from Michigan State University. The author of six books on subjects ranging from dance to social behavior, she has published more than 300 articles in scholarly journals on anthropology, art, black studies, dance, drama, education, gender, leisure and recreation, medicine, music, political science, psychology, religion and urban studies.

About Rick's Cabaret:
ED Publications, Inc. Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. ED Publications is the publisher of Exotic Dancer, TEEZE and Adult Store Buyer (ASB) magazines and owner of tradeshows including the annual Gentlemen's Club Owners Expo and StorErotica for the retail lingerie and adult store industry. The company >owns, operates or licenses adult nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also owns the adult Internet membership site couplestouch.com and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on the NASDAQ Global Market under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Media Contact: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Completes Purchase Of Second Adult Nighclub In Dallas, Texas

Thu, 19 Jun 2008 05:00:00 GMT

HOUSTON - (June 19, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , premium operator of upscale gentlemen's clubs, said today it has completed the purchase of Platinum Club II in Dallas, TX, and will re-brand it as an upscale Club Onyx catering to African-American gentlemen.

Rick's Cabaret paid $1.5 million in cash for the adult nightclub at the intersection of 10557 Wire Way and Northwest Highway, just off busy I-35 Stemmons Freeway. The company also acquired the accompanying real estate for $6 million, paying $1.65 million in cash and financing the balance. It is the company's second acquisition in Dallas this year and the third in the Dallas-Ft. Worth "Metroplex."

Rick's Cabaret estimates the club will add approximately $4 to $5 million in annual revenue, with earnings before income tax, depreciation and amortization (EBITDA) between $1.5 million to $2 million. This estimate was not included in the company's latest earnings guidance update on May 8th.

"The more we get to know the Dallas market the more enthusiastic we have become about the potential for an upscale Club Onyx facility," said Eric Langan, President and CEO of Rick's Cabaret. "Dallas has the great mix of professional athletes, music artists and business executives that has made our Club Onyx brand successful in Houston and Charlotte. We also will benefit from management efficiencies and purchasing power now that we have three locations in the Dallas-Ft. Worth market. We are pleased that we completed this transaction well within the time period originally announced to our investors."

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Media Contact: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Completes Private Placement Of 672,000 Shares Of Restricted Stock For Proceeds Of $13.4 Million

Fri, 13 Jun 2008 05:00:00 GMT

HOUSTON - (June 9, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , premier operator of upscale gentlemen's clubs, announced today that it has completed a private placement of 672,000 restricted shares of its common stock to institutional investors at a price of $20 per share, raising gross proceeds of $13,440,000.

The funds will be used for acquisitions. Rick's Cabaret currently has signed agreements to purchase the Scores adult nightclub in Las Vegas and the Platinum II nightclub in Dallas.

"We are pleased that we have continued our access to capital despite current financial market conditions," said Eric Langan, President and CEO of Rick's Cabaret. "This is our fourth consecutive private equity transaction, each at a share price higher than the previous. Our ability to raise funds allows us to execute our strategic acquisition program in a way that is accretive to our shareholders and also demonstrates to sellers of clubs that we complete the transactions we negotiate."

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Media Contact: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Sets New Date For Closing On Acquisition Of Scores-Las Vegas Club

Mon, 09 Jun 2008 05:00:00 GMT

HOUSTON - (June 9, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , said today it has extended the date for closing on the acquisition of the Scores-Las Vegas adult nightclub to July 2, 2008.

The new date agreed to with the sellers of the club was selected to allow for the completion of the transfer of various state and local permits. Under terms of the purchase agreement signed on April 17, 2008 the transaction was to have closed on or before June 10, 2008. No other terms of the agreement have been changed.

Under terms of the agreement Rick's Cabaret will purchase Scores-Las Vegas from DI Food & Beverage of Las Vegas, LLC for $16 million in cash and a $5 million convertible debenture bearing 4 percent interest. As part of the acquisition Rick's Cabaret also acquires an option to buy the property on which the club is located, just off the Las Vegas Strip.

Closing on the transaction is subject to certain closing conditions, including but not limited to Rick's Cabaret obtaining adequate financing, approval by relevant regulatory authorities of the transfer of ownership in the selling entity and other conditions consistent with transactions of this type. As a condition of closing the sellers have agreed to demonstrate gross revenues for the preceding 12 months of at least $18.5 million and earnings before income tax, depreciation and amortization of not less than $4 million. The company believes this acquisition will add 29 cents per share to earnings on an annual basis.

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Will Purchase Second Adult Nightclub In Dallas, Texas

Tue, 13 May 2008 05:00:00 GMT

HOUSTON - (May 13, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , premium operator of upscale gentlemen's clubs, said today it has signed an agreement to buy a second Dallas adult nightclub, Platinum Club II, which it will re-brand as an upscale Club Onyx catering to African-American gentlemen.

Rick's Cabaret will pay $1.5 million for the Platinum Club II at 2051 Northwest Highway, just off busy I35-Stemmons Freeway. The company will also acquire the accompanying real estate at a cost of $6 million, paying $1.5 million at closing and financing the balance.

Platinum Club II was recently converted to an Urban Club format. Based on post-conversion operating data, Rick's Cabaret estimates the club will add approximately $4 to $5 million in annual revenue, with earnings before income tax, depreciation and amortization (EBITDA) well within the company's current range for acquisitions. This transaction was not included in guidance the company issued in its May 8th earnings conference call.

"Platinum II has made a good start with its new Urban Gentlemen's format and we believe that adding the Club Onyx brand will only further that success," said Eric Langan, President and CEO of Rick's Cabaret. "The price we are paying is well within our target of acquiring clubs in the three to five times EBITDA range, plus it has strategic value as it gives us a total of three venues in the Dallas-Ft. Worth market. This improves management efficiency and gives us important marketing strength and purchasing power."

Closing on the transaction is scheduled within 45 days and is subject to certain closing conditions, including but not limited to Rick's Cabaret obtaining adequate financing, issuance by the City of Dallas of the necessary permit to conduct an adult entertainment business, other required approvals by relevant regulatory authorities, and other conditions consistent with transactions of this type.

Earlier this year Rick's Cabaret purchased the former Executive Club in Dallas, which has been rebranded as a Rick's Cabaret and will have a three-day Grand Opening celebration June 12-14, with a Due Diligence Ball for the investment community the evening of June 12th. New Orleans Nights in Ft. Worth was acquired in 2007 and has also been rebranded as Rick's Cabaret. The company owns and operates three Club Onyx nightclubs in Houston and Charlotte, which have an avid clientele of professional athletes, musicians and business executives.

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Updates Guidance For 2008 And Outlook FOR 2009

Fri, 09 May 2008 05:00:00 GMT

HOUSTON - (May 9, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , During a conference call with investors on May 8, 2008, Rick's Cabaret International, Inc. (NASDAQ: RICK), operator of upscale gentlemen's clubs, issued new guidance for its revenues and income for the 2008 fiscal year and its outlook for 2009.

For its 2008 fiscal year the company said it expects to have sales of approximately $61 to $62 million, with after tax net income of about $10.5 to $11 million, on which it anticipates earning between $1.25 and $1.30 per fully diluted share. If spread over all of calendar 2008 revenues should equal about $68-$70 million, with net income of about $13 to $14 million and projected earnings of approximately $1.55 to $1.60 per fully diluted share.

The company's outlook for fiscal 2009 anticipates revenues of exceeding $100 million, with earnings per share in the $2.30 to $2.50 range per fully diluted share.

The 2008 projections do not include the closing of a previously announced acquisition in Las Vegas while the 2009 outlook does include the Las Vegas transaction and continued execution of the company's acquisition strategy.

These projections update the company's previous guidance issued on February 13, 2007 and April 1, 2008. The company operates on a fiscal year ending September 30. Some projections have also been stated on a calendar year basis for ease in comparison with other companies.

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Reports Record Revenues And Income For Second Quarter, With EPS Of 32 Cents

Thu, 08 May 2008 05:00:00 GMT

HOUSTON - (May 8, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , the premier operator of upscale gentlemen's clubs, today reported record revenues of $15.46 million for its second quarter ended March 31, 2008 with net earnings of $2.60 million compared with $7.57 million and $492,344, respectively, for the same period last year. Earnings per diluted share for the quarter were 32 cents, compared with 9 cents the year before.

"This significant increase in our revenues and earnings demonstrates that our strategy of acquiring outstanding nightclubs in key markets is yielding the expected results in improving margins and cash flow," said Eric Langan, President and CEO of Rick's Cabaret. Mr. Langan will comment on the results in a conference call scheduled for today at 4:30 p.m. The call is being webcast by VCall (click here) and can be accessed at the Rick’s Cabaret website, www.ricks.com or www.InvestorCalendar.com. The toll free live participant dial-in number is 877-407-8031, and international callers are invited to dial 201-689-8031. The toll free replay number is 877-660-6853 (international callers dial 201-689-8031).

The revenue increase for the three months ended March 31, 2008 was driven primarily by new clubs in Miami and Ft. Worth, which together added nearly $7.29 million, while organic growth from existing clubs added $609,109, an 8.24 percent increase.

The increase in net income was primarily due to higher same-locations-same-period club sales and by revenues from the newly acquired clubs in Miami and Ft. Worth. Income before income taxes for same-location-same-period of club operations for the quarter increased to $1.72 million, a 30.5 percent increase over the same period in 2007.

Cash provided by operating activities for the six months ended March 31, 2008 was $6.4 million, compared with $1.3 million for the same period in 2007.

For the six months ended March 31, 2008, revenues for the company were $26.42 million, compared with $14.6 million for the first half of 2007. Net income was $4.39 million compared with $844,964, and earnings per diluted share for the first six months were 56 cents compared with 15 cents last year.

At the end of the second quarter the company showed $94.48 million in total assets on its balance sheet, compared with $ 47.07 million at the same point last year.

Mr. Langan noted that new clubs in Philadelphia and Dallas opening in the third quarter will add more new revenues but he cautioned that start up expenses to launch the new clubs would also be a factor in results for the period. He said the company would update guidance for 2008 during the conference call.

Rick's CABARET INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	FOR THE THREE MONTHS ENDED MARCH 31,		FOR THE SIX MONTHS ENDED MARCH 31,

	2008	2007	2008	2007
	(UNAUDITED)		(UNAUDITED)

Revenues:
Sales of alcoholic beverages	$ 5,702,934	$ 2,812,406	$ 9,898,126	$ 5,407,004
Sales of food and merchandise	1,325,585	768,628	2,385,917	1,432,715
Service revenues	7,748,514	3,538,017	12,772,011	6,889,815
Internet revenues	172,712	177,502	343,501	365,481
Other	514,515	273,036	1,019,043	504,332
Total revenues	15,464,260	7,569,589	26,418,598	14,599,347

Operating expenses:
Cost of goods sold	1,633,224	962,469	2,975,055	1,853,636
Salaries and wages	3,297,158	2,156,054	5,883,634	4,227,192
Stock compensation	39,270	65,356	78,540	130,712
Other general and administrative:
Taxes and permits	2,018,865	981,327	3,254,658	1,854,272
Charge card fees	254,261	137,505	452,971	281,507
Rent	618,677	396,040	1,083,132	749,272
Legal and professional	349,862	248,418	643,235	487,276
Advertising and marketing	563,609	325,027	924,441	683,797
Insurance	166,933	180,812	368,329	309,265
Utilities	281,496	204,083	491,231	370,501
Depreciation and amortization	646,127	386,427	1,157,466	751,027
Other	1,231,064	798,908	2,170,295	1,587,170
Total operating expenses	11,100,546	6,842,426	19,482,987	13,285,627
Income from operations	4,363,714	727,163	6,935,611	1,313,720

Other income (expense):
Interest income	26,403	2,420	69,472	13,054
Interest expense	(676,673)	(328,454)	(1,138,556)	(654,017)
Minority interests	--	91,215	177,911	172,207
Income before income taxes	3,713,444	492,344	6,044,438	844,964
Income taxes	1,108,064	--	1,655,786	--
Net income	$ 2,605,380	$ 492,344	$ 4,388,652	$ 844,964
Basic and diluted earnings per share:
Net income, basic	$ 0.34	$ 0.09	$ 0.61	$ 0.16
Net income, diluted	$ 0.32	$ 0.09	$ 0.56	$ 0.15
Weighted average number of common shares outstanding:
Basic	7,561,163	5,365,602	7,183,699	5,253,546
Diluted	8,473,497	5,647,442	8,012,745	5,540,233

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. April Nightclub Revenues More Than Double Last Year's Total; Same Store Sales Up 11.5 Percent

Thu, 08 May 2008 05:00:00 GMT

HOUSTON - (May 8, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] ,premier operator of upscale gentlemen's clubs, said today it more than doubled nightclub sales in April from 2007 and had an 11.5 percent gain in same location sales over the previous year. Total sales at the company's 18 adult nightclubs for April were $5.1 million, a 105 percent increase over the $2.48 million recorded in April 2007. Same store sales were $2.68 million compared with $2.40 million last year, an 11.5 percent increase.

"Tootsie's Cabaret in Miami continues to be the biggest driver of our yearly increase and our New York City club continued its powerful growth with a gain of 46.8 percent over April of last year," said Eric Langan, President and CEO of the company. He noted that new acquisitions in Philadelphia and Dallas made modest contributions in April since they were under the control of the company for only a few days.

Mr. Langan said he would be available to discuss the April numbers in more detail during the company’s second quarter earnings conference call today at 4:30 pm EDT. The call is being webcast by VCall (click here) and can be accessed at the Rick's Cabaret website, www.ricks.com or www.InvestorCalendar.com. Toll free live participant dial-in number is 877-407-8031, and international callers are invited to dial 201-689-8031. The toll free replay number is 877-660-6853 (international callers dial 201-689-8031), account 286, conference ID 284203. .

Mr. Langan also said that the April 2008 sales report would be the last such monthly report the company will give and that future sales reports will be issued at the end of each quarter, a practice that will bring Rick's Cabaret in line with the trend toward quarterly sales reports issued by other publicly traded retail firms.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret Names Nestor Yumiguano As Executive Chef At Its New York City Steakhouse

Tue, 06 May 2008 05:00:00 GMT

NEW YORK CITY- (May 6, 2008) - Rick's Cabaret International, Inc. has named Nestor Yumiguano as Executive Chef of the Steakhouse at Rick's Cabaret, its adult nightclub at 50 West 33rd Street in Manhattan.

Mr. Yumiguano comes to Rick's following executive chef service at two highly regarded Flavia Nordio restaurants, 212 Restaurant & Bar and Paris Match. The son of a French-trained Ecuadorian chef, Yumiguano literally grew up in restaurant kitchens and was trained at the Culinary Art Institute in Quito. He later worked with restauranteur John Santaniello before moving to the celebrated Bice Italian restaurant, with Steven Soulis at il Cantinori restaurant and Katy Sparks with the opening Quilty's in New York before joining Ms. Nordio.

His work at 212 Restaurant & Bar was highly praised by food critics. "Expect to have your taste buds afflicted by dishes so finely tuned, with flavors so richly and perfectly infused that each bite sends shocks of pleasure coursing through the body," said NYCPulse.com. "Behind good nourishment there must invariably lurk a good cook; in this case executive chef Nestor Yumiguano awakens the appetite," wrote noted critic Sheldon Landwehr.

"I love the high energy and excitement of Rick's Cabaret," says Mr. Yumiguano of his new position. "It is wonderful to see people come in for the cabaret show being totally surprised at the quality of our steakhouse lunches and dinners."

About Rick's Cabaret-NYC:
Rick's Cabaret in New York City is an upscale gentlemen's club and steakhouse located at 50 West 33rd Street between Fifth Avenue and Broadway and near Madison Square Garden and the Empire State Building. The club features beautiful entertainers who offer an adult cabaret show from 11 am to 4 am daily (6pm opening on weekends). The club is owned by Rick's Cabaret International, Inc., [NASDAQ-GM:RICK] , a publicly traded company with 18 locations around the country. For further information visit www.ricks.com.

Contact: Allan Priaulx, 212-338-0050 or Lonnie Hanover at 212.242.6090

Rick's Cabaret Will Hold Conference Call May 8th To Discuss Second Quarter Results And Will Stage A "Due Diligence Ball" At Its New York City Club On May 13th

Fri, 02 May 2008 05:00:00 GMT

HOUSTON - (May 2, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] , premier operator of adult nightclubs, will release its second quarter 2008 results on May 8th, followed by a conference call/webcast hosted by CEO Eric Langan. On May 13th the company will hold a "Due Diligence Ball" for financial industry professionals and investors at the company's New York City nightclub.

The May 8th conference call is scheduled to begin at 4:30 p.m. EDT and will allow securities analysts and shareholders the opportunity to hear management discuss results for the quarter ended March 31, 2008. The call is being webcast by VCall (click here) and can be accessed at the Rick's Cabaret website, www.ricks.com or www.InvestorCalendar.com. Toll free live participant dial-in number is 877-407-8031, and international callers are invited to dial 201-689-8031. The toll free replay Number 877-660-6853 (international callers dial 201-689-8031).

The "Due Diligence Ball" has become a popular aspect of the Rick's Cabaret relationship with investors and financial community professionals, offering them an opportunity to see the company's operation first hand and talk with Mr. Langan. Usually held immediately after the company's quarterly conference call it is being held a few days later this period because of travel schedule conflicts. Guests receive free admission to the club, free hors d'oeuvres and can purchase all drinks at discount prices from 6 p.m. to 8 p.m. To RSVP email ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Will Purchase Scores-Las Vegas Gentlemen's Club In $21 Million Transaction

Fri, 18 Apr 2008 05:00:00 GMT

HOUSTON - (April 18, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK], the premier publicly traded operator of adult night clubs, said today it has signed a definitive agreement to buy Scores-Las Vegas, a 25,000-square foot gentlemen's club in Las Vegas for $21 million.

Rick's Cabaret will purchase Scores-Las Vegas from DI Food & Beverage of Las Vegas, LLC for $16 million in cash and a $5 million convertible debenture bearing 4 percent interest. As part of the acquisition Rick's Cabaret also acquires an option to buy the property on which the club is located, just off the Las Vegas Strip.

"We are delighted that we will own a premier club in one of the most important entertainment and recreation centers in the world," said Eric Langan, President and CEO of Rick's Cabaret. "Scores-Las Vegas is clearly one of the most outstanding gentlemen’s clubs in the United States. The transaction is consistent with our target of paying three to five times earnings before income tax, depreciation and amortization (EBITDA) for existing, profitable clubs that are immediately accretive to our bottom line and have the potential to grow."

Closing on the transaction is scheduled for June 10 and is subject to certain closing conditions, including but not limited to Rick's Cabaret obtaining adequate financing, approval by relevant regulatory authorities of the transfer of ownership in the selling entity and other conditions consistent with transactions of this type. As a condition of closing the sellers have agreed to demonstrate gross revenues for the preceding 12 months of at least $18.5 million and earnings before income tax, depreciation and amortization of not less than $4 million. The company believes this acquisition will add 29 cents per share to earnings on an annual basis.

The purchase would bring to 18 the number of clubs owned and operated by the company, including the recent acquisition of clubs in Philadelphia and Dallas.

Scores-Las Vegas opened on September 21, 2005 at 3355 S. Procyon St near the intersection of Desert Inn and Valley View. Operating 24/7, 365 days a year, the club has become a favorite of celebrities and athletes. It was named the winner of the "Best Club in The Southwest Region 2006" at the Adult Nightclub & Exotic Dancer Award Show, "Best Gentlemen's Club of Las Vegas 2006" by the Las Vegas Review Journal and "Best Gentlemen's Club 2006" by the Las Vegas Weekly. Scores-Las Vegas has also been featured on HowardTV, MTV, Fox, CNN, MSNBC and G4TV. Its two levels offer fine dining, cocktails, luxury VIP rooms, sports viewing on more than a dozen plasma screens, private parties and entertainment by approximately 500 international showgirls. The club's amenities include the intimate Grand Havana Private VIP Salon with warm fire places, over-stuffed pillows, marble floors with mosaic accents, a mezzanine overlooking the six show stages, plus the Library Bottle Lounge and Piano Room.

Late night features include an "after-hour" scene in the Sky Bar, a separate 5,000 square foot late night dance entertainment area on the mezzanine level. Unique shows nightly include breathtaking aerial acts, Las Vegas style showgirl revues and various other show stopping feature acts. The club bills itself as "the perfect destination for a casual night on the town, business dinners, special events or the traditional bachelor party."

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com

Rick's Cabaret International, Inc. Announces Purchase Of Exotic Dancer Magazine And Three-Year Employment Agreement With Publisher Don Waitt

Wed, 16 Apr 2008 05:00:00 GMT

HOUSTON - (April 16, 2008) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK], the premier operator of upscale gentlemen's clubs, has purchased ED Publications, Inc., the leading trade magazine serving the multi-billion dollar adult nightclubs industry. As part of the transaction Rick's Cabaret has also acquired two industry trade shows, two other industry trade publications and more than 25 industry websites owned by the Clearwater, FL companies.

Rick's Cabaret paid $1.2 million for the publisher of Exotic Dancer, TEEZE and Adult Store Buyer (ASB) magazines. The purchase agreement provides for an additional earn-out of up to $2 million over the next three years, based on certain performance benchmarks of the media division. Don Waitt, owner of ED Publications and a principal of the TEEZE/ASB group, joins Rick's Cabaret under a three-year agreement as President of its new media division, RCI Entertainment Media Holdings, Inc.

At closing, Rick's Cabaret issued 21,740 shares of restricted common stock (valued at $23 per share) and paid $500,000 in cash and will pay an additional $200,000 six months after closing. An additional 65,217 shares of restricted common stock and an additional $500,000 in cash could be paid for the earn-out if the performance benchmarks are achieved.

"In addition to their strong cash flow, the acquisition of these preeminent trade publications will enable Rick's Cabaret to create new marketing synergies with major industry product suppliers and new national advertising opportunities," said Eric Langan, President and CEO of the company. "It also provides us with additional diversification of our revenue and income streams while remaining within our core competency."

"After 17 years operating the adult nightclub industry's only national trade magazine and industry convention, I look forward to being associated with Rick's Cabaret, which as a major industry player has an infrastructure in place that will allow us to take the service we offer to a much higher level," said Mr. Waitt. "We have very exciting new media ventures and national promotions in the works that will benefit Rick's Cabaret and the industry as a whole, as well as broaden the appeal of adult nightclub entertainment to consumers."

The two groups have combined revenues of over $2 million per year and earnings before income tax, depreciation and amortization (EBITDA) of approximately $670,000. The company believes this will add earnings of approximately $.05 per share on an annualized basis.

Founded in 1991, Exotic Dancer is the only national business magazine serving the 3,800 adult nightclubs in North America, which have annual revenues in excess of $2 billion, according to AVN Media Network. ED Publications currently publishes the Annual VIP Guide of adult nightclubs, touring entertainers and industry vendors, and Club Bulletin, a bimonthly news magazine for the owners and operators of adult nightclubs. ED Publications also produces the annual Gentlemen's Club Owners Expo, the only national convention for the adult nightclub and feature entertainment industries, and offers the exclusive ED VIP Club Card honored at more than 850 adult nightclubs.

Gentlemen's Club Owners Expo brings together over 3,000 adult nightclub executives, feature entertainers, vendors and other industry professionals for a unique, three-day convention that features a 450-booth tradeshow, three days of panel sessions with First Amendment attorneys and marketing and promotions experts, nightly networking parties and the annual Adult Nightclub & Exotic Dancer Awards Show, the only national awards show of its kind.

Adult Store Buyer (ASB) is a bimonthly industry trade magazine similar in content and format to ED's Club Bulletin. It is read by the owners and operators of more than 10,000 stores that sell adult videos, DVDs, toys and novelties, and the vendors who supply the products.

TEEZE is also a bimonthly industry trade magazine, distributed to the owners and operators of more than 7,500 stores and boutiques that sell lingerie and erotic apparel and the vendors who supply the products.

ASB and TEEZE also produce an annual convention and tradeshow for the retail lingerie and adult store industry called StorErotica. The 2nd Annual StorErotica show will be held in conjunction with the 2008 Gentlemen's Club Owners Expo August 24-28, 2008 at the Mandalay Bay Resort & Casino in Las Vegas.

The media group also operates a variety of websites including StripClubs4Sale.com, the largest database of adult nightclubs for sale in the United States. A site member has access to the owners and brokers selling the clubs and details such size, years in operation and financial information.

About Rick's Cabaret
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com, and a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com.

Forward-Looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this document, including: the risks and uncertainties associated with operating and managing an adult business; the business climates in New York City and elsewhere; the success or lack thereof in launching and building the company's businesses in New York City and elsewhere; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget; achieve anticipated rates of same-store sales; hire and train additional nightclub personnel and integrate new nightclubs into its operations; unexpected increases in costs of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; the impact of any negative publicity or public attitudes; competitive pressure from other national and regional nightclub chains; risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information go to www.ricks.com.

Contact for further information: Allan Priaulx, 212-338-0050, ir@ricks.com