SOURCE: Rick's Cabaret International, Inc.

February 13, 2007 09:01 ET

Rick's Cabaret International Engages Montgomery Street Research

HOUSTON, TX -- (MARKET WIRE) -- February 13, 2007 -- Rick's Cabaret International, Inc. (NASDAQ: RICK), the publicly traded chain of gentlemen's clubs, has signed a consulting agreement with Montgomery Street Research, LLC to explore acquisitions and opportunities in the capital markets.

Announcement of the new three-year-agreement was made by Eric Langan, President and CEO of Rick's Cabaret.

"We have spent more than a year getting to know Montgomery Street Research and believe the firm will be of value as we look at our acquisition and capital markets options," Mr. Langan said.

Montgomery Street Research is a San Francisco-based financial consultant to entertainment 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, 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 Information

  • Contact:
    Rick's Cabaret International, Inc.
    Allan Priaulx
    212-338-0050
    Email Contact