VCGH Vcg Holding Corp. (MM)

VCG Holding Corp. (NASDAQ: VCGH), a growing and leading consolidator and operator of adult nightclubs, today responded to questions investors have raised regarding the termination of the Southern Clubs acquisition. Troy Lowrie, Chairman and CEO of VCG Holding, stated, �I believe there was some confusion regarding yesterday�s press release. During our third-quarter earnings call on November 19, 2007, and in a subsequent press release on November 29, 2007 we detailed the 2008 run rate and gave guidance for the 2008 and 2009 earnings per share that the Company expects to earn a minimum of $0.86 to $0.92 and $1.15 to $1.25, respectively. When that guidance was provided, we did not include the Southern Clubs in our projections. As a result, the formal termination of the Southern Clubs acquisition does not in any way change our previously provided guidance. �The decision to terminate the acquisition was based on our belief that given the highly attractive acquisition environment, we could generate an even higher return on capital from other acquisitions we are currently negotiating than we could have with the Southern acquisition. I want to again emphasize, our pipeline of opportunities remains strong and we are being presented with many acquisition opportunities that meet our stated objectives,� concluded Mr. Lowrie. About VCG Holding Corp. VCG Holding Corp. is an owner, operator, and consolidator of adult nightclubs throughout the United States. The Company currently owns 19 adult nightclubs1 and one upscale dance lounge. The night clubs are located in Indianapolis, IN, St. Louis, MO, Denver and Colorado Springs, CO, Ft. Worth and Dallas, TX, Raleigh, NC, Minneapolis, MN, Louisville, KY, Portland, ME, and Miami, FL. Forward-Looking Statements: Certain statements in this release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company�s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors identified from time to time in the Company�s reports with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB for the year ended December 31, 2006. All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements, except as may be required by law. 1 Subject to one (1) nightclub pending license approval