MONTCLAIR, N.J., May 26, 2004 (PRIMEZONE) -- Rascals International Inc. (OTCBB:RSCA) announced today that its flagship comedy club venue, located in the exclusive New Jersey enclave of Montclair, will have its Grand Opening on Friday June 11th. A private invitation-only cocktail party and show will be followed by two already sold out performances at 8:30 and 11:00PM.
Construction difficulties have plagued this 12,000 square foot, multi level, state of the art facility, and it diverted management's time, efforts and finances. Once open, Montclair will prove to be one of the largest grossing comedy club in the U.S. with anticipated annual revenue in excess of five million.
Ed Rodriguez, Rascals Chairman and CEO, had this to say: "We can now turn our full attention and resources to our next major club location in the Palisades Center, the country's second largest mall with over 20,000,000 annual visitors, located in the New York / Westchester suburb of Nyack. This club will open before Labor Day!"
"All of the financing is in place, the lease with the Center has been signed, the contractor has been selected, and acts are already being booked. With this opening, we will have opened 4 venues in less than nine (9) months, and before the year is over Louisville and Pittsburgh will also have opened."
"I could not be more pleased with the pace of our expansion, as further evidenced by the public's awareness of our potential and profitability."
About Rascals International, Inc.
Rascals International, Inc. is one of the premier comedy clubs in the United States, drawing upon its respected national recognition and rich history of providing the highest quality comedic entertainment in the industry. Currently, the company prides itself on its ability to employ successful entertainers at its' growing chain of venues, both in its stand-alone and hotel-based operations.
For further information, visit www.rascalscomedyclub.com or contact Ed Rodriguez at 973-233-1233
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.