Rick's Cabaret International, Inc. Options Begin Trading On Chicagoboard Options Exchange (CBOE)

HOUSTON - (December 1, 2008) - Options on Rick's Cabaret International, Inc. [NASDAQ-GM:RICK] common stock have begun trading on the Chicago Board Options Exchange (CBOE).

"This is exceptionally good news for our company and for our shareholders as CBOE options trading extends the investment opportunities in our stock," said Eric Langan, President and CEO of Rick's Cabaret. "It is another mark of our progress, along with our advancement to the NASDAQ Global Market and our inclusion in the Russell 2000," he added.

The CBOE offers a platform for investors who anticipate a directional movement in the price of a stock. Its put and call options provide the right to buy or sell that stock at a predetermined price, for a specific duration of time.

Since CBOE founded the listed options business in 1973 it has been the leader in options volume. In 2007, CBOE options contract volume reached an all-time record of 944,471,924 contracts, up 40% over the previous year.

CBOE, the largest U.S. options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: www.cboe.com.

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, Las Vegas, 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; a network of online adult auction sites under the flagship URL naughtybids.com; ED Publications, the national trade magazine and convention for the adult nightclub industry; and Storerotica, the national trade magazine and convention for the adult product and intimate apparel industries. Rick's Cabaret common stock is traded on the NASDAQ Global Market under the symbol RICK. For further information contact [email protected].

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.

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