Rascals International (fka RASC)

[bostonredsox]

Rascals International Retires Debt of Over $500,000

Tuesday January 29, 12:45 pm Eastern Time
Press Release
SOURCE: Rascals International, Inc.

WEST ORANGE, N.J., Jan. 29 /PRNewswire-FirstCall/ -- Rascals International, Inc. (OTC Bulletin Board: RASC - news), a leading comedy club and Internet comedy site (http://www.rascalscomedyclub.com), today announced that the CEO of the Company, Ed Rodriguez, has forgiven Rascals of past debts totaling approximately $570,000. These debts were primarily unpaid rent due to a real estate company partly owned by Mr. Rodriguez.

Ed Rodriguez, stated, ``In return for continued participation in the Company's two New Jersey club mortgages, we were able to elicit a significant credit that reduced our rental debt by $570,000. This sum enhances our balance sheet and will directly contribute to growing our profits during 2002.''

Rodriguez continued, ``This debt reduction also allows us to ease our cash requirements, enabling us to meet our goal to open clubs in ten U.S. cities by year-end.''

Full details can be found in the Company's Form 8K.

Rascals International operates comedy clubs in Ocean Township and West Orange both in New Jersey, clubs in the Crowne Plaza Hotel Downtown Phoenix, Arizona, and the Sheraton Springfield at Monarch Place, Springfield, MA and is scheduled to open shortly in the Philadelphia suburb of West Chester, PA. The Company also has a video library of nearly 400 hours of top name comedians. The Company is headquartered in West Orange, New Jersey. For more information, visit its corporate website, www.Rascalscomedyclub.com.

Contact Information: At the Company, contact Ed Rodriguez, CEO, 973-243-8000 or [e-mail]. For Investor Relations, contact Mario ``Ike'' Iacoviello, OTC Financial Network, 888-765-5355 or 760-931-9211 or [e-mail]. See also www.otcfn.com/rasc.

Except for the statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE: Rascals International, Inc.

[bostonredsox]

Rascals International Retains OTC Financial Network to Direct Comprehensive Investor Relations Campaign

Tuesday January 22, 8:33 am Eastern Time
Press Release
SOURCE: Rascals International, Inc.

WEST ORANGE, N.J., Jan. 22 /PRNewswire/ -- Rascals International, Inc. (OTC Bulletin Board: RASC - news), operator of leading comedy clubs and the Internet comedy site http://www.rascalscomedyclub.com, today announced that it has retained OTC Financial Network, a division of National Financial Communications Corp., to direct a comprehensive investor relations campaign.

National Financial Communications Corp. President Geoffrey Eiten stated, ``Rascals recently deployed a hotel joint venture strategy, opening comedy clubs within prominent hotel properties. This allows Rascals to rapidly grow revenues and build brand name identity with minimal start-up and operating expenses. Combined with a schedule to open new stand-alone clubs across the U.S., Rascals is carving its niche as the leading operator of comedy club restaurants.''

Eiten added, ``Other exciting areas of Rascal's development include leveraging its extensive library of comedic performances for a commercial video entitled ''Before They Were Famous`` and delivering live, pay-for-view presentations on its Internet website and cable television. With solid and multifold growth strategies in place, Rascals is well-positioned to enhance its market capitalization substantially in the near future.''

Rascals CEO Ed Rodriguez, ``Industry experts now value the U.S. comedy club market at $2 billion annually. We are prepared to rapidly capture share of this market during 2002. When we add merchandising opportunities, such as our upcoming video, we have the potential to grow exponentially. OTC Financial Network has been retained to communicate our exciting growth prospects and build our reputation among the investment community.''

About OTC Financial Network

OTC Financial Network, a division of National Financial Communications Corp. (NFC), is a full-service financial communications and investor relations firm that specializes in micro/small-cap companies. Headquartered in Needham, Massachusetts, NFC operates from independent affiliate offices in Arizona, California, Oregon, Colorado, Florida and Canada. The Company offers its services to companies listed on all major exchanges in addition to the over- the-counter markets. For more information on NFC, visit www.nationalfc.com. OTC Financial Network, a division of National Financial Communications Corporation, serves as special advisor to the featured Company and has received fees for services. This is not an offer to buy or sell securities. Information or opinions in this release are presented solely for informative purposes, and are not intended nor should they be construed as investment advice.

About Rascals International

Rascals International operates comedy clubs in Ocean Township and West Orange, New Jersey. Additional clubs are located in the Crowne Plaza Hotel, Downtown Phoenix, Arizona, and the Sheraton Springfield at Monarch Place, Springfield, MA, and one is scheduled to open in West Chester, PA in 2002. The Company also owns a video library of nearly 400 hours of top name comedians including Jay Leno, Billy Crystal and Rosie O'Donnell. Rascals International is headquartered in West Orange, New Jersey and located on the Web at www.Rascalscomedyclub.com.

For more information on Rascals: At the Company, contact Ed Rodriguez, CEO, 973-243-8000 or email [e-mail]. For Investor Relations, contact Mario ``Ike'' Iacoviello, OTC Financial Network, 888-765-5355 or 760- 931-9211 or [e-mail]. See also www.otcfn.com/rasc.

Except for the statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE: Rascals International, Inc.

[bostonredsox]

Rascals International Announces Stock Buy-Back

Monday January 7, 2:39 pm Eastern Time
Press Release
SOURCE: Rascals International, Inc.

WEST ORANGE, N.J.--(BUSINESS WIRE)--January 7, 2002--Rascals International, Inc. (OTCBB: RASC - news) announced today that its board had authorized the purchase of up to two million shares of the Corporation's common stock.

This represents almost 10% of the issued and outstanding shares.

Ed Rodriguez, Rascals's Chairman and CEO had this to say about the decision,`` It is impossible for me to understand why our shares are so devalued considering what the company has accomplished in the last year, and with our exciting and profitable prospects for the future, starting in 2002. Our plans will benefit everyone involved in Rascals, especially existing shareholders whose patience I applaud, while my frustration continues to grow.''

``Rascals has positioned itself to take full advantage of various opportunities, primarily the opening of new clubs. The first two of these, in Phoenix Arizona, and Springfield, Massachusetts have already opened and are well ahead of break-even schedule. 2002 will be a dramatic year for us, and we can't wait to demonstrate the results of our careful preparation and forward looking Business Plan.''

The first Rascals club opened in 1988, the second in 1991, and the latest two clubs premiered in 2001.

Visit our Website: www.rascals.net

-0-

This press release contains certain forward-looking statements regarding Rascals International Inc. its business and financial prospects. These statements represent Management's present intentions and its present belief regarding the company's future. These statements are not, however, predictions of the future, nor are they assurances that any of our intentions will be fulfilled. There are numerous risks and uncertainties that could cause our actual results to differ dramatically from the results suggested in this press release. Among the more significant risks are the fact that Rascal International's growth will be limited unless it obtains additional capital, and may not be able to attract the skilled managers it will need in order to expand its operations efficiently. In addition, changing circumstances may cause Management to determine that a change in plans will be in the best interests of Rascals International Inc. For this reason, readers should not place undue reliance of any of our forward-looking statements. Readers should also take note that Rascals International Inc. will not necessarily make any public announcement of changes affecting these forward-looking statements, which should be considered accurate on this date only. Readers should refer to the documents filed by Rascals International Inc with the Securities and Exchange Commission for a better understanding of our company.



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Contact:

Rascals International, Inc., West Orange
Ed Rodriguez, 973/243-8000
[e-mail]

[bostonredsox]

Rascals International Relists On NASDAQ OTC Bulletin Board

Wednesday December 19, 9:39 am Eastern Time
Press Release
SOURCE: Rascals International, Inc.

WEST ORANGE, NJ--(BUSINESS WIRE)--December 19, 2001--Rascals International, Inc. (OTC: RASC - news) is pleased to announce that the company's stock has been relisted on the NASD OTC Bulletin Board. The stock will continue to be traded under the symbol RASC.

Rascals Comedy Clubs originated in October of 1983 when it opened its first comedy club restaurant in West Orange, New Jersey. Rascals has earned a reputation and industry recognition as a one of America's premier comedy club chains.

Rascals International operates comedy clubs in Ocean Township and West Orange, New Jersey and is opening new clubs in the Crowne Plaza Hotel Downtown Phoenix, Arizona, the Sheraton Springfield at Monarch Place, Springfield, MA and West Chester, PA. 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.



--------------------------------------------------------------------------------
Contact:

Rascals International, Inc., West Orange
Ed Rodriguez, 973-243-8000
Fax: [phone]
Email:[e-mail]

[bostonredsox]

Rascals International Inc. Gets Clearance From the SEC to Get Listed On the OTC Bulletin Board

Thursday December 13,2001 9:30 am Eastern Time
Press Release
SOURCE: Rascals International, Inc.

WEST ORANGE, N.J.--(BUSINESS WIRE)--Dec. 13, 2001--Rascals International, Inc. (OTC:RASC - news) announced today that it has cleared comments from the SEC on its Form 10-SB, a major step to obtain a re-listing of its shares on the OTC Bulletin Board.

Commenting on this development, Ed Rodriguez, Chairman & CEO of Rascals International, Inc. said, ``We are pleased to announce this first step to re-listing our shares on the OTC Bulletin Board. This is an important step because it will assist in creating value and liquidity for our shareholders. Re-listing of our shares on the OTC Bulletin Board will provide access to an increased base of investors and give us an opportunity, as well as the marketplace, to put a value on one of the leading brand name comedy clubs in the United States. This development fits well with our plan to establish Rascals Comedy Clubs in major hotels throughout North America.''

Rascals Comedy Clubs originated in October of 1983 when it opened its first comedy club restaurant in West Orange, New Jersey. Rascals has earned a reputation and industry recognition as a one of America's premier comedy club chains.

Rascals International operates comedy clubs in Ocean Township and West Orange, New Jersey and is opening new clubs in the Crowne Plaza Hotel Downtown Phoenix, Arizona, the Sheraton Springfield at Monarch Place, Springfield, MA and West Chester, PA. 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, Phone: [phone] Fax: [phone]
Email:[e-mail]