EXHIBIT
99.1
Rick's
Cabaret International, Inc. Shareholders Elect Attorney Luke Lirot to Board
of
Directors
HOUSTON--(BUSINESS
WIRE)--Rick's Cabaret International, Inc. (NASDAQ:
RICK
-
News
),
operator of upscale gentlemen's clubs, today held its Annual Meeting of
Shareholders in Houston, Texas. In addition to re-electing all current
directors, shareholders elected prominent first amendment attorney Luke Lirot
as
the sixth member of the Board of Directors.
Mr.
Lirot, who has a private law practice in Florida, is a past president of the
First Amendment Lawyers' Association and has actively participated in numerous
state and federal legal matters, with a specialization in adult entertainment
issues.
Shareholders
at the annual meeting, held at the company's Rick's Cabaret-North nightclub
in
Houston, also ratified the selection of Whitley Penn LLP as the company's
independent auditors and approved an amendment to the 1999 stock option
plan.
About
Rick's Cabaret
Rick's
Cabaret International, Inc. (NASDAQ:
RICK
-
News
) 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
[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; 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:
Rick's
Cabaret International, Inc.
Allan
Priaulx, 212-338-0050
Source:
Rick's Cabaret International, Inc.