MONTCLAIR, N.J., June 2, 2004 (PRIMEZONE) -- Rascals International, Inc. (OTCBB:RSCA) today announces that the name of the corporation has been changed to "Headliners Entertainment Group, Inc." Commencing on June 2, 2004, the common stock of the corporation will be listed for trading on the OTC Bulletin Board under the symbol "HLNR" (OTCBB:HLNR).
"With our pending merger, we feel this new name more accurately describes what we're all about," said HLNR Chairman and CEO Ed Rodriguez. "We'll be operating multi-venue entertainment complexes under such names as Banana Joe's, Margarita Mamas, Red Cheetah, Funky Parrot, Cactus Cafe, as well as Rascals Comedy Club."
"Before the year ends, we'll have clubs in almost twenty U.S. cities, and Headliners Entertainment Group is a banner under which we can rally and move forward. Consolidated sales revenue for this year should exceed $20,000,000, and I see no reason why this growth rate cannot continue with a commensurate rate per share profit increase. I could not be more satisfied with our performance and that we are way ahead of our business plan benchmarks."
About Rascals International, Inc. / Headliners Entertainment Group, Inc.
Rascals International, Inc. / Headliners Entertainment Group, 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.
Safe Harbor
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.