Rascals International (fka RASC)

[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]