PTT Vcg Holding Corp

VCG Holding Corp. (AMEX: PTT)(VCG), a leading owner, operator and consolidator of adult nightclubs, announced today that it held the grand opening of its new upscale lounge, Tabu, on June 17, 2005. Located above the Diamond Cabaret, an adult nightclub acquired by VCG in October 2004, Tabu is a 8,000 square-foot, high-end dance lounge with plush decor, cutting-edge music and a state-of-the-art sound and lighting system that was created to attract trendsetting clientele with a distinct style. The lounge incorporates Reatrix(TM) lighting in its VIP areas that allow patrons to interact with and manipulate projected images. In its first weekend, management estimates that Tabu recorded revenues of approximately $30,000. This does not take into account impact of the number of Tabu patrons that took advantage of easy internal access to the Diamond Cabaret nightclub downstairs. With the opening of Tabu, VCG has completed its corporate-wide renovation and construction program that included not only Tabu, but also the renovation of Diamond Cabaret and the construction of the Penthouse Club in Phoenix. Troy Lowrie, VCG's Chief Executive Officer, commented: "We are very pleased with the results of the grand opening of our new Tabu lounge. Tabu can generate significant incremental revenue and cash flow as a stand-alone facility and can also draw additional revenue to the Diamond Cabaret, which is located directly below the lounge. Strategically, the incremental revenue and cash flow from Tabu decreases the overall implied purchase price multiple of the Diamond Cabaret acquisition and also allows us to reach a broader group of clientele that might not have historically visited the Diamond Cabaret." About VCG Holding Corp. VCG Holding Corp. is an owner, operator and consolidator of adult nightclubs throughout the United States. The Company currently owns six adult nightclubs, one upscale dance lounge and operates seven other adult nightclubs under management agreements. The owned and managed clubs are located in Indianapolis, St. Louis, Denver, Phoenix, and Louisville. Forward-looking statements Statements contained in this press release concerning future results, performance or expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements regarding the intent, belief or current expectations of the Company and members of its management team, as well as assumptions on which such statements are based. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release. Forward-looking statements involve a number of risks and uncertainties, and other factors, that could cause actual results, performance or developments to differ materially from those expressed or implied by those forward-looking statements including the following: failure of facts to conform to necessary management estimates and assumptions; the Company's ability to identify and secure suitable locations for new nightclubs on acceptable terms, open the anticipated number of new nightclubs on time and within budget, achieve anticipated rates of same-store sales, hire and train additional nightclub personnel and integrate new nightclubs into its operations; the continued implementation of the Company's business discipline over a large nightclub base; unexpected increases in cost of sales or employee, pre-opening or other expenses; the economic conditions in the new markets into which the Company expands and possible uncertainties in the customer base in these areas; fluctuations in quarterly operating results; seasonality; changes in customer spending patterns; the impact of any negative publicity or public attitudes; competitive pressures from other national and regional nightclub chains; business conditions, such as inflation or a recession, or other negative effect on nightclub patterns, or some other negative effect on the economy, in general, including (without limitation) growth in the nightclub industry and the general economy; changes in monetary and fiscal policies, laws and regulations; war, insurrection and/or terrorist attacks on United States soil; and other risks identified from time to time in the Company's SEC reports, including the Annual Report on Form 10-KSB for 2004, Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K, registration statements, press releases and other communications. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.