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January 10, 2012

Rick’s Cabaret International Nighclub Sales Rise 12.5 Percent in First Quarter of 2012

HOUSTON, TX – Rick’s Cabaret International, Inc. (NASDAQ:RICK), the nation’s leading group of premiere gentlemen’s clubs, reported a 12.5 percent increase in revenues from its nightclubs for the fist fiscal quarter ending December 31, 2011. Sales rose to $21.7 million from $19.3 million. Comparable sales at clubs open for more than one year rose by 6.7 percent to $20.6 million.    The overall rise in sales was driven by an 18.5 percent increase in revenues in December, with more modest increases in October and November. The figures do not include sales at the now-closed Rick’s Cabaret in Las Vegas, which was discontinued in April 2011.   “We are very pleased with the growth trend and if it continues we should achieve our goals for the fiscal year,” said Eric Langan, President and CEO of Rick’s Cabaret, which operates 23 clubs nationally. He noted that Rick’s Cabaret/Austin, XTC Cabaret/Dallas, Cabaret East/Ft. Worth, Rick’s Cabaret/San Antonio, and Rick’s Cabaret/Minneapolis all reported strong gains, as did Club Onyx locations in Philadelphia, Charlotte and Houston.

 
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