RICK'S CABARET INTERNATIONAL, INC. WELCOMES INCLUSION IN RUSSELL 2000® LIST
– 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.”
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
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
Allan Priaulx, 212-338-0050, [email protected]