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Non-Tech : Rascals Comedy Club Restaurants(RASC)

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To: pennyangel who started this subject5/14/2002 10:53:30 AM
From: pennyangel  Read Replies (1) of 44
 
Rascals Appoints Hornblower & Weeks, Inc. as Investment Banker

NEW YORK, May 14 /PRNewswire-FirstCall/- Rascals International, Inc.
(OTC Bulletin Board: RASC), operators of a growing chain of U.S. comedy clubs
and the Internet site (http://www.rascalscomedyclub.com), today announced that
it has appointed Hornblower & Weeks, Inc. as its Investment Banker.
"Given the recent growth Rascals has undergone and our aggressive plans
for the future, we thought it prudent to forge a relationship with a
professional investment banking firm," said Ed Rodriguez, Chief Executive
Officer, Rascals International Inc. "We are counting on Hornblower & Weeks to
generate not only financial and business opportunities for Rascals but also to
provide guidance that will help us expand our business operations and fuel our
growth."
"We recognize the value of Rascals' 400 hours of comedy archives and the
distribution potential of the material. The Company already announced
agreements for video-on-demand in the hotel marketplace, pay-per-view and a
home video series. This is on-top-of the value of its clubs, before further
expansion or licensing of the Rascals brand," stated Paul Taboada, Director of
Corporate Finance, Hornblower & Weeks. "Hornblower & Weeks continues to look
for fundamentally strong companies as illustrated in their sales, earnings and
growth rate. We are excited about the opportunity."

About Hornblower & Weeks, Inc.
Hornblower & Weeks, Inc is a full service brokerage firm with offices on
Wall Street with years of experience and an exceptionally high success rate in
fulfilling the requirements that enable their clients to meet their needs and
grow in their respective industries. The company provides research, marketing
and trading services for institutional, corporate and individual clients and
specializes in providing investment-banking services tailored to the specific
needs of companies.

About Rascals International
Rascals International operates a chain of comedy clubs including its
flagship club in West Orange, New Jersey and clubs in Ocean Township, New
Jersey, the Crowne Plaza Hotel, Downtown Phoenix, Arizona, and the Sheraton
Springfield at Monarch Place, Springfield, MA. Rascals is scheduled for
further expansion with a club set to open shortly in the Philadelphia suburb
of West Chester, PA. The Company also leases its video library of nearly
400 hours of top name comedians. Corporate offices are headquartered in West
Orange, New Jersey. For more information, visit its corporate website,
rascalscomedyclub.com.

Certain statements in this release constitute forward-looking statements
or statements which may be deemed or construed to be forward-looking
statements within the meaning of the Private Placement Act of 1995. The words
"forecast," "project," "intend," "expect," "should," "would," and similar
expressions and all statements, which are not historical facts, are intended
to identify forward-looking statements. These forward-looking statements
involve and are subject to known and unknown risks, uncertainties and other
factors which could cause the Company's actual results, performance (finance
or operating) or achievements to differ from future results, performance
(financing and operating) or achievements expressed or implied by such
forward-looking statements. The above are more fully discussed in the
Company's SEC filings.

Investor Contact:
Christopher Yelcho
3rd Millennium Management
Phone: (973) 633-0888 ext. 106
chris@3rd-mm.com

Rascals Comedy Clubs Information:
Ed Rodriguez, CEO
Phone: (973) 266-7020
ed@rascalscomedyclub.com

Hornblower & Weeks.
Paul E. Taboada, Director Of Corporate Finance
Phone: (212) 361-2266
pthbw@aol.com

MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com

SOURCE Rascals International, Inc.
-0- 05/14/2002
/CONTACT: Investor - Christopher Yelcho of 3rd Millennium Management,
+1-973-633-0888, ext. 106, chris@3rd-mm.com; Rascals Comedy Clubs Information
- Ed Rodriguez, CEO, +1-973-266-7020, ed@rascalscomedyclub.com; Hornblower &
Weeks, Paul E. Taboada, Director Of Corporate Finance, +1-212-361-2266,
pthbw@aol.com/
/Web site: rascalscomedyclub.com /
(RASC)

CO: Rascals International, Inc.; Hornblower & Weeks, Inc.
ST: New York, New Jersey
IN: ENT FIN OTC
SU:
*** end of story ***
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