Press Release: Rascals International
August 7, 2001
WEST ORANGE, NJ -- Rascals International, Inc. (OTC: RASC) announces their first hotel comedy clubs venture with
the Crowne Plaza Hotel Downtown in Phoenix, Arizona.
Rascals' new management team has begun developing new Company units, franchising and co-venturing permanent comedy
club showrooms at national full service hotels such as the Crowne Plaza Hotels and Resorts, Holiday Inns, Hiltons,
Sheratons and Radisson properties.
The Phoenix Crowne Plaza Rascals Comedy Club showroom will have 300+ seats for seven shows a week. Additionally,
the Rascals Comedy Club will feature headliner comedy shows at the hotel's 1,000+ seat ballroom with major acts.
Ed Rodriquez, Chairman & CEO of Rascals International, Inc. stated ``our co-venturing hotel development strategy
gives the Company significant growth opportunities with minimal capital requirements and the additional seating
capacity, as required, to include marquee comedians in our entertainment schedule. Rascals finances the initial
marketing and provides an on-site manager and staff to sell showroom tickets, group events and coordinate promotional
activities with the hotel's management. The leveraging of existing banquet facilities with our intense direct sales,
marketing and promotional expertise is an excellent marginal income opportunity requiring little or no additional
investment in the property. We believe that we can open 12 hotel co-venture units by year end and accelerate the
opening of new units as our development, training and start-up teams expand.''
Rascals Comedy Club Restaurants are a special gathering place for groups of friends and couples of all ages to
enjoy good food and drinks, and then ``live'' entertainment for the cost of a movie and dinner. The showrooms also
provide food and beverage service before and during the shows.
Rascals Comedy Clubs originated in October of 1983 when it opened its first Comedy Club Restaurant in West Orange,
New Jersey.
Rascals International owns comedy clubs in Ocean Township, New Jersey and West Orange, New Jersey. The company
also owns a video library of nearly 400 hours of top name comedians. The company is headquartered in West Orange,
New Jersey and located on the Web at www.Rascalscomedyclub.com.
Certain statements in this press release, other than historical information, may be considered forward looking
statements, within the meaning of the ``safe harbor'' provisions of the Private Securities Litigation Reform Act
of 1995, and is subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties
materialize, or should underling assumptions prove incorrect, actual results may differ from those anticipated,
estimated or expected. Among the key factors that may have a direct bearing on Rascals International Inc's. operating
results, performance or financial conditions are its ability to implement its growth strategies, national, regional
and local economic conditions affecting the comedy club restaurant industry, negative publicity, fluctuations in
quarterly results of operations, including seasonality, government regulations, weather, commodity and labor costs.
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Contact:
Rascals International, Inc., West Orange
Ed Rodriguez, 973/243-8000
Fax: 973/243-8088
Email: Rascalscomedyclub.com