RASCALS INTERNATIONAL, INC. RETAINS THE SERVICES OF iCAPITAL AS ITS INVESTMENT BANKING FIRM

Rascals International, Inc., an entertainment/comedy club corporation (OTC BB: RSCA), announced that it has engaged iCapital Finance, Inc. as its investment banking consulting firm to structure financing and provide capital resources, identify merger and acquisition candidates, and advise the Companys management on other strategic decisions.

Delaware (PRWEB) July 18, 2003 -- Rascals International, Inc., An entertainment/comedy club Corporation (OTC BB: RSCA) (Rascals"), announced that it has engaged iCapital Finance, Inc. (iCapital") as its investment banking consulting firm to structure financing and provide capital resources, identify merger and acquisition candidates, and advise the Companys management on other strategic decisions.

iCapital has a direct connection to the investment community which will help us quickly move forward with our strategy," said Ed Rodriguez, CEO of Rascals. Their vast experience will aid in our overall market support, which is where we have needed some more substantial professional help in the past."

Continues Ed Rodriguez, iCapital is one of the premier investment banking consulting firms in the United States catering specifically to small capitalization public companies. With over 50 corporate clients, iCapital has the experience and resources to quickly facilitate financing and to bring a substantial number of M&A candidates to the table. We are pleased to be associated with this premier firm in this exciting industry."

Randall Letcavage, Managing Director of iCapital, states, Rascals is a company poised for explosive growth in the entertainment sector, with new clubs around the country and new outlets for its products. Of particular interest to many in the industry are new clubs based in hotel facilities."

Irvine-based iCapital will provide Rascals with services ranging from the preparation of corporate documents to providing guidance and assistance in maximizing shareholder value.

ABOUT RASCALS INTERNATIONAL, INC.:
Rascals International, as one of the premier comedy clubs in the United States, draws upon its high national recognition and rich history to provide the highest quality comedic entertainment in the industry. Currently, the company prides itself on its ability to employ successful entertainers at its growing chain of venues, both as stand alone and hotel-based operations.

ABOUT iCAPITAL FINANCE, INC.:
iCapital is a leading investment bank specializing in the Micro and Small Cap Public Companies and Middle Market Private Companies offering a wide range of financial advisory services, including M&A, equity and debt financing, strategic advisory, and financial consulting. iCapitals industry experience and financial resources enables it to assist high growth companies meet their corporate objectives.

The information in this Press Release includes certain forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company.

Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.

Contact Information:

iCapital Finance, Joseph Cerbone (jcerbone@icapitalfinance.com), 2603 Main Street, Suite 1150, Irvine, CA 92614, Office: (949) 260-8070; Fax: (949) 260-0116