Rick's Cabaret International, Inc. reports $23 million in nightclub sales for fourth quarter, up 11.6%

HOUSTON – (October 11, 2012) – Rick’s Cabaret International, Inc. (NASDAQ:RICK) said today it recorded sales at its nightclubs of $23.0 million in its fourth quarter ending September 30, 2012, an 11.6 percent increase over the same period a year ago.

The company said quarterly sales at clubs it has operated for more than one year were $20.7 million, an increase of 1.85 percent over the same period in 2011.

Among the contributors to the sales increases were the Rick’s Cabaret near Dallas-Ft. Worth Airport, which was a BYOB club in 2011 but now serves alcohol; the first contribution from the nine Jaguars clubs the company began operating in mid-September; Club Onyx in Charlotte; gains at Silver City Cabaret in Dallas, acquired earlier this year; and the Downtown Cabaret in Minneapolis, which was acquired in August 2011.

The company will announce its fourth quarter and full fiscal year earnings results in December.

About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) is home to adult entertainment venues serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities operate as "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret” and under other brand names. Rick’s Cabaret also operates a media division, ED Publications, and owns membership websites as well as a network of online auction sites. Rick’s Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact [email protected]  or visit www.ricksinvestor.com . Facebook http://www.facebook.com/rickscabaretintl.

Forward-looking Statements: This press release may contain 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 press release, including the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company’s businesses, 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.ricksinvestor.com.

Contact: Allan Priaulx, 212-338-0050, [email protected]