Document:

Exhibit 10.8

                              AMENDED AND RESTATED
                          MONITORING SERVICES AGREEMENT

     Amended and Restated Monitoring Services Agreement (this "Agreement") dated
as of May 17, 2004 by and among Transportation Investment Partners, L.L.C.
("TIP"), Caravelle Investment Fund, L.L.C. ("Caravelle"), Albion Alliance
Mezzanine Fund, L.P. ("Albion I"), Albion Alliance Mezzanine Fund II, L.P.
("Albion II" and, collectively with TIP, Caravelle and Albion I, the "Original
Monitors") and Trimaran Fund Management, L.L.C. ("TFM") and Albion Alliance, LLC
("AA" and, collectively with TFM, the "Additional Monitors" and collectively
with the Original Monitors, the "Monitors") and Transportation Technologies
Industries, Inc., a Delaware corporation (the "Company").

     WHEREAS, the Company, Caravelle Advisors, L.L.C. ("Caravelle Advisors"),
CIBC WMC Inc. ("CIBCWMC"), Albion I and Albion II have entered into a Management
and Advisory Services Agreement, dated as of March 9, 2000 (the "Original
Agreement");

     WHEREAS, pursuant to an agreement date as of June 21, 2000, the Company,
Caravelle, CIBCWMC, Albion I and Albion II amended the Original Agreement (the
"First Amendment");

     WHEREAS, pursuant to an agreement dated as of February 28, 2001, the
Company, TIP (as successor in interest to CIBCWMC), Caravelle, Albion I and
Albion II have further amended the Original Agreement (the "Second Amendment");

     WHEREAS, pursuant to an agreement dated as of December 19, 2003 the
Company, TIP, Caravelle, Albion I and Albion II have further amended the
Original Agreement (the "Third Amendment" and together with the Second
Amendment, the First Amendment and the Original Agreement, the "Existing
Agreement");

     WHEREAS, pursuant to the terms of the Stockholders Agreement dated as of
March 9, 2000 among the Company and the stockholders of the Company (as amended,
the "Stockholders Agreement"), the Monitors and/or certain of their affiliates
(the "Designators") are entitled to nominate candidates to the Company's Board
of Directors;

     WHEREAS, the Company desires for the Monitors to provide certain ongoing
monitoring services to the Company, and the Monitors are willing to provide such
services subject to the terms and conditions contained herein; and

     WHEREAS, the parties hereto desire to amend and restate in its entirety the
Existing Agreement and to make certain addition modifications all as provided
for herein;

<PAGE>
                                      -2-

     NOW, THEREFORE, for good and valuable consideration, the receipt of which
is hereby acknowledged, the parties hereto agree as follows:

     Section 1. Services. During the term of this Agreement, the Monitors shall
provide such monitoring services to the Company and its subsidiaries as the
Board of Directors of the Company shall reasonably request and the Monitors
shall agree to provide from time to time. Such services shall be performed at
each of the Monitors' offices or at such other locations as the Monitors shall
reasonably determine.

     Section 2. Monitoring Fees.

          (a) In consideration of the services previously provided and to be
     provided in accordance with Section 1, the Company agrees to pay to the
     Original Monitors an annual monitoring fee of $1,250,000 (the "Monitoring
     Fee") accruing from the date of the Original Agreement and payable, except
     as set forth below, annually in arrears on the date on which the Company
     makes bonus payments to any of its officers, but in no event later than
     February 15 of each year and payable in accordance with Section 2(b) and
     upon the date of any termination of this Agreement pursuant to Section 9;
     provided that the Monitoring Fee accruing in respect of calendar year 2000
     shall be $1,250,000 and shall be payable on the earlier of (i) the date on
     which the Company makes bonus payments to any of its officers in respect of
     calendar year 2000 and (ii) February 15, 2001. Notwithstanding the
     foregoing sentence, the Company and the Original Monitors agree that the
     amount of the Monitoring Fee due and payable in respect of any calendar
     year shall not exceed an amount equal to 61.57% of the aggregate bonuses
     paid to Messrs. Begel, Weller, Tallering, Mueller and Williams in respect
     of such calendar year; provided that the amount of the Monitoring Fee in
     respect of calendar year commencing with the 2004 calendar year shall not
     be less than $450,000 if the aggregate bonuses paid to Messrs. Begel,
     Weller, Tallering, Mueller, Cirar and Williams is at least $290,000 for
     such year.

          (b) The Company and the Monitors agree that the Company shall pay the
     Monitoring Fee to the Original Monitors as follows: (i) $892,857.14 to TIP;
     (ii) $178,571.43 to Caravelle; (iii) $89,285.71 to Albion I; and (iv)
     $89,285.71 to Albion II. To the extent that the Monitoring Fee payable in
     respect of any calendar year is reduced as provided in the penultimate
     sentence of Section 2(a), the amount of the Monitoring Fee payable to each
     Original Monitor shall be reduced pro rata in proportion to the percentage
     of the aggregate Monitoring Fee payable to each Original Monitor pursuant
     to the first sentence of this Section 2(b).

<PAGE>
                                      -3-

          (c) In addition to the Monitoring Fee, in consideration for additional
     services to be provided to the Company, the Company agrees to pay to the
     Additional Monitors an additional monitoring fee (the "Additional
     Monitoring Fee") in an annual aggregate amount equal to $300,000, which
     Additional Monitoring Fee, with respect to fiscal year 2003 has been paid
     in full as of December 19, 2003 and, with respect to each subsequent fiscal
     year shall be paid in equal quarterly installments on the first day of each
     fiscal quarter of the Company and upon the date of any termination of this
     Agreement pursuant to Section 9. $250,000 of such annual Additional
     Monitoring Fee shall be paid to TFM and $50,000 of such annual Additional
     Monitoring Fee shall be paid to AA.

     Section 3. Director Fees.

     (a) In consideration for the Designators providing their nominees and/or
observers to the Board of Directors of the Company in accordance with the terms
of the Stockholders Agreement, the Company agrees to pay to the Original
Monitors an aggregate annual director and observer fee of $250,000 (the
"Director Fee" and, collectively with the Monitoring Fee, and the Additional
Monitoring Fee, the "Fees") accruing from the date of the Original Agreement and
payable annually in arrears on the date on which the Company makes bonus
payments to any of its officers, but in no event later than February 15 of each
year and payable in accordance with Section 3(b) and upon the date of any
termination of this Agreement pursuant to Section 9; provided that the Director
Fee accruing in respect of calendar year 2000 shall be $250,000 and shall be
payable on earlier of (i) the date on which the Company makes bonus payments to
any of its officers in respect of calendar year 2000 and (ii) February 15, 2001.
Notwithstanding the foregoing sentence, the Company and the Original Monitors
agree that the amount of the Director Fee due and payable in respect of any
calendar year shall not exceed an amount equal to 12.31% of the aggregate
bonuses paid to Messrs. Begel, Weller, Tallering, Mueller and Williams in
respect of such calendar year. Once any Director Fee has been paid it shall not
be returnable under any circumstances, including upon any termination of this
Agreement by any party hereto.

     (b) The Company and the Original Monitors agree that the Company shall pay
the Director Fee to the Original Monitors as follows: (i) $178,571.43 to TIP;
(ii) $35,714.29 to Caravelle; (iii) $17,857.14 to Albion I; and (iv) $17,857.14
to Albion II. To the extent that the Director Fee payable in respect of any
calendar year is reduced as provided in the penultimate sentence of Section
3(a), the amount of the Director Fee payable to each Original Monitor shall be
reduced pro rata in proportion to the percentage of the aggregate Director Fee
payable to each Original Monitor pursuant to the first sentence of this Section
3(b).

<PAGE>
                                      -4-

     Section 4. Deferral of Payment of Fees. Each of the Company and the
Monitors agrees that the Fees payable hereunder shall only be payable to the
extent such payment is permitted under the terms of the Company's Senior Credit
Facilities and any other financing agreement of the Company entered into after
the date of the Original Agreement. Each of the parties hereto agrees that
notwithstanding that the Company may not be required to pay all or any portion
of any Fee as a result of the application of the terms of the preceding
sentence, all Fees shall nonetheless accrue and be earned on a daily basis and
shall be payable (including all missed payments in respect of any Fee) on the
first date that the payment thereof is permitted under the terms of the Senior
Credit Facilities or such other financing agreement. "Senior Credit Facilities"
collectively, (i) the First Lien Secured Credit Facility, dated as of March 16,
2004, by and among the Company, the lenders party thereto from time to time and
Lehman Brothers Inc., Lehman Commercial Paper Inc., Wachovia Capital Markets,
LLC and Credit Suisse First Boston, as amended from time to time and (ii) the
Second Lien Secured Credit Facility, dated as of March 16, 2004, by and among
the Company the lenders party thereto from time to time and Lehman Brothers
Inc., Lehman Commercial Paper Inc., Wachovia Capital Markets, LLC and Credit
Suisse First Boston, as amended from time to time.

     Each of the parties hereto agrees that to the extent that Fees due to the
Monitors are deferred as provided in Section 3 above, any catch-up payments
shall first be allocated first to any Additional Monitoring Fee that is due and
payable under this Agreement, second to any Monitoring Fee that is due and
payable under this Agreement and third to any Director Fee that is due and
payable under this Agreement.

     Each of the parties hereto agrees that as of December 31, 2003 the
following Fees have accrued and remain unpaid under the Original Agreement:

                                             Additional
                        Monitoring Fees      Monitoring Fees      Directors Fees
                        ---------------      ---------------      --------------
      TIP:              $0                   $-                   $57,142.86
      Caravelle:        $0                   $-                   $11,428.58
      Albion I:         $0                   $-                   $ 5,714.28
      Albion II         $0                   $-                   $ 5,714.28
      TFM               $-                   $0                   $-
      AA                $-                   $0                   $-
                        ---------------      ---------------      --------------
         Total:         $0                   $0                   $80,000.00
      --------------    ---------------      ---------------      --------------

     Each of the parties hereto agrees that such fees shall continue to accrue
under this Agreement and the obligations of the Company subject to the terms of
this Agreement.

     Section 5. Reimbursement. The Monitors and their affiliates shall be
entitled to reimbursement of all reasonable out-of-pocket expenses (including
travel expenses) incurred in connection with the performance of this Agreement
(other than salary expenses

<PAGE>
                                      -5-

and associated overhead charges). The Company agrees to pay such amounts
promptly upon request therefor.

     Section 6. Indemnity; No Liability. In consideration of the execution and
delivery of this Agreement by the Monitors, the Company hereby agrees to
indemnify, exonerate and hold each of the Monitors and any of their affiliates,
and each of their respective partners, shareholders, directors, officers,
fiduciaries, employees and agents and each of the partners, shareholders,
affiliates, directors, officers, fiduciaries, employees and agents of each of
the foregoing (collectively, the "Indemnitees") free and harmless from and
against any and all actions, causes of action, suits, losses, liabilities and
damages, and expenses in connection therewith, including without limitation
reasonable attorneys' fees and disbursements (collectively, the "Indemnified
Liabilities"), incurred by the Indemnitees or any of them as a result of, or
arising out of, or relating to the Monitors' performance of services under this
Agreement except for any such Indemnified Liabilities arising solely on account
of such Indemnitee's gross negligence or willful misconduct, and if and to the
extent that the foregoing undertaking may be unenforceable for any reason, the
Company hereby agrees to make the maximum contribution to the payment and
satisfaction of each of the Indemnified Liabilities which is permissible under
applicable law. None of the Indemnitees shall be liable to the Company or any of
its affiliates for any act or omission suffered or taken by such Indemnitee that
does not constitute gross negligence or willful misconduct.

     Section 7. Assignment; Designation. Each Monitor may at its option assign
its rights and obligations under this Agreement to any of its affiliates or to
any transferee of any capital stock of the Company held by such Monitor or its
affiliates. Each Monitor in its sole discretion may also designate any one or
more of its affiliates as the recipient of any Fees payable under this
Agreement. The Company may not assign its rights or obligations under this
Agreement without the consent of each other party hereto.

     Section 8. Governing Law; Submission to Jurisdiction. THIS AGREEMENT SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES.

     Section 9. Termination. This Agreement may be terminated with respect to
any Monitor by such Monitor at any time by written notice to the Company. In
addition, this Agreement shall terminate (a) with respect to any Monitor upon
the termination of such Monitor's and its affiliates' right to appoint one or
more members of the Company's Board of Directors in accordance with the terms of
the Stockholders' Agreement and (b) with respect to all Monitors upon the
earlier to occur of (x) a Change of Control (as defined in the Certificate of
Designation of the Company governing the terms of its Series A, 14 1/2% Senior
Redeemable Preferred Stock as in effect on the date hereof) and (y) the date of
the consummation of an initial public offering of common stock of the Company
pursuant to an effective registra-

<PAGE>
                                      -6-

tion statement under the Securities Act of 1933; provided that, as a condition
to the termination of this Agreement pursuant to this clause (y), the Company
shall have first paid to the Monitors an aggregate cash termination fee (the
"Termination Fee") in the amount of $3.5 million; provided further that this
clause (y) shall not be effective against any party hereto (i.e. this Agreement
may not be terminated pursuant to such clause (y) and no Termination Fee shall
be payable pursuant to such clause (y)) until such time as the Company shall
have obtained the requisite consents to the effectiveness of such clause (y)
pursuant to and in accordance with the terms of the Senior Credit Facilities.
The Company and the Monitors agree that the Company shall pay the Termination
Fee to the Monitors as follows: (i) $2,083,333.33 to TIP; (ii) $416,666.67 to
Caravelle, (iii) $208,333.33 to Albion I; (iv) $208,333.33 to Albion II, (v)
$486,111.11 to TFM and (vi) $97,222.22 to AA.

     Section 10. Amendment, etc. This Agreement may be modified, waived,
discharged or terminated only by a written amendment signed by each of the
parties hereto affected thereby, and no waiver of any provision hereof shall be
effective unless expressed in a writing signed by the party to be charged. No
delay or omission by any party in exercising any right with respect to this
Agreement shall operate as a waiver. A waiver on any one occasion shall not be
construed as a bar to, or waiver of, any right or remedy on any future occasion.

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the
date first written above.

                                 TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

                                 By:  /s/ Kenneth M. Tallering
                                      -----------------------------------
                                      Name: Kenneth M. Tallering
                                      Title: Vice President, General
                                                   Counsel and Secretary

                                 TRANSPORTATION INVESTMENT PARTNERS, L.L.C.

                                 By:  /s/ Steven A. Flyer
                                      ----------------------------------
                                      Name: Steven A. Flyer
                                      Title: Attorney in Fact

                                 CARAVELLE INVESTMENT FUND, L.L.C.

                                 By:  /s/ Steven A. Flyer
                                      ----------------------------------
                                      Name: Steven A. Flyer
                                      Title: Managing Director

                                 ALBION ALLIANCE MEZZANINE FUND, L.P.

                                 By:      Albion Alliance LLC, its
                                             General Partner

                                 By:  /s/ Charles A. Gonzalez
                                      ---------------------------------
                                      Name: Charles A. Gonzalez
                                      Title: Managing Director

<PAGE>

                                      ALBION ALLIANCE MEZZANINE FUND II, L.P.

                                      By:      AA Mezz II GP, LLC, its
                                                  General Partner

                                      By:      Albion Alliance LLC,
                                                  its Sole Member

                                      By:  /s/ Charles A. Gonzalez
                                           ----------------------------------
                                           Name: Charles A. Gonzalez
                                           Title: Managing Director

                                      TRIMARAN FUND MANAGEMENT, L.L.C.

                                      By:  /s/ Steven A. Flyer
                                           ----------------------------------
                                           Name: Steven A. Flyer
                                           Title: Managing Director

                                      ALBION ALLIANCE, LLC

                                      By:  /s/ Charles A. Gonzalez
                                           ----------------------------------
                                           Name: Charles A. Gonzalez
                                           Title: Managing DirectorEXHIBIT  10.1

                            STOCK PURCHASE AGREEMENT
                            ------------------------

     This  Stock  Purchase  Agreement (the "Agreement") is made and entered into
this  ____  day  of September, 2004, by and among Peregrine Enterprises, Inc., a
New  York  corporation (the "Company" or "Peregrine"), Philip Eisenberg and Lena
Eisenberg,  Individually ("the Eisenbergs" or "Sellers"), RCI Entertainment (New
York)  Inc.,  a New York corporation ("Purchaser" or "RCI New York"), and Rick's
Cabaret  International,  Inc.,  a  Texas  corporation  ("Rick's").

     WHEREAS,  the  Sellers  own  100  shares of common stock, no par value (the
"Shares")  of  the  Company, which Shares represent all of the shares of capital
stock  of  Peregrine  presently  outstanding;  and

     WHEREAS, Philip Eisenberg serves as President to the Company; and

     WHEREAS,  Peregrine  owns and operates an adult entertainment cabaret known
as  The  Paradise Club ("The Paradise Club") located at 50 West 33rd Street, New
York,  New  York  (the  "Premises").

     WHEREAS, the Sellers desire to sell the Shares of Peregrine to RCI New York
on  the  terms  and  conditions  set  forth  herein;  and

     WHEREAS,  RCI  New  York  desires  to purchase the Shares of Peregrine from
Sellers  on  the  terms  and  conditions  set  forth  herein.

     NOW,  THEREFORE, in consideration of the premises, the mutual covenants and
agreements  and  the respective representations and warranties herein contained,
and  on  the  terms  and subject to the conditions herein set forth, the parties
hereto,  intending  to  be  legally  bound,  hereby  agree  as  follows:

                                    ARTICLE I
                         PURCHASE AND SALE OF THE SHARES

     Section  1.1     Sale  of  the Shares.  Subject to the terms and conditions
                      --------------------
set forth in this Agreement, at the Closing (as hereinafter defined) the Sellers
hereby  agree  to  sell, transfer, convey and deliver to RCI New York all of the
Shares  of  common stock of Peregrine, free and clear of all encumbrances, which
represents  all of the outstanding capital stock of Peregrine, and shall deliver
to RCI New York stock certificates representing the Shares, duly endorsed to RCI
New  York  or  accompanied  by  duly executed stock powers in form and substance
satisfactory  to  RCI  New  York.

     Section  1.2     Purchase  Price.  As consideration for the purchase of the
                      ---------------
Shares, RCI New York shall pay to Sellers total consideration of $7,625,000 (the
"Purchase  Price")  payable  as  follows:

                                        1
<PAGE>
     (i)  $2,500,000  payable  to the Shareholders by cashier's check, certified
          funds  or  wire  transfer at the Closing (as hereinafter defined); and

     (ii) $5,125,000  as  evidenced  by  a  Promissory  Note  (part  of which is
          convertible  as  set forth below) bearing simple interest of 4.00% per
          annum  (the  "Promissory  Note") payable commencing 120 days after the
          Closing  as  follows:  (a)  the  payment  of  $58,333.33 per month for
          twenty-four (24) consecutive months; (b) the payment of $63,333.33 for
          twenty-four (24) consecutive months; (c) the payment of $68,333.33 for
          twelve  (12)  consecutive  months;  and  (d) a lump sum payment of the
          remaining  balance  to  be  paid  on the sixty-first (61st) month. All
          payments shall be credited first to accrued interest and thereafter to
          principal  on  the Promissory Note. $2,000,000 of the principal amount
          of the Promissory Note is convertible into shares of restricted common
          stock of Rick's Cabaret International, Inc. ("Rick's Common Stock") as
          follows:  (1)  $200,000  convertible  at $4.00 per share; (2) $225,000
          convertible  at $4.50 per share; (3) $250,000 convertible at $5.00 per
          share;  (4)  $275,000  convertible  at  $5.50  per share; (5) $300,000
          convertible  at $6.00 per share; (6) $325,000 convertible at $6.50 per
          share;  (7)  $350,000  convertible at $7.00 per share; and (8) $75,000
          convertible  at $7.50 per share. RCI New York shall not have the right
          to  force conversion of the Promissory Note. The Promissory Note shall
          be secured by the shares and the assets of RCI New York and Peregrine,
          including  a  collateral  reassignment  of  the lease for the business
          premises  at  50  West  33rd Street, New York, New York. A copy of the
          Form  Promissory  Note  is  attached  hereto  as  Exhibit  1.2.

     Section 1.3     Payments into Escrow.  As of the date of execution of this
                     --------------------
Agreement, the Purchaser has deposited $800,000 in an escrow account (the
"Escrow") with Prestige Title Agency, Inc., Brooklyn, New York (the "Escrow
Agent").  The $800,000 shall be held in Escrow until the Closing as defined
herein.

     If the NYS liquor authority for the State of New York denies the addition
of a representative of Purchaser to the existing Liquor License which allows for
the sale of liquor on the Premises (the "Liquor License") by December 1, 2004,
then the Purchaser or Peregrine will have the right at any time thereafter, by
written notice to the other party to terminate this Agreement and the Purchaser
shall be refunded all funds then held in Escrow except for $150,000, which shall
have been or be paid to Peregrine.  The Purchaser and Peregrine will use their
best efforts on the date of execution hereof to cause a representative of the
Purchaser to be added to the existing Liquor License.  If the Closing does occur
then the $800,000 held in Escrow will be paid to Peregrine and credited against
the $2,500,000 due at Closing.  If Purchaser, through no fault of Peregrine,
fails to close the transaction by December 1, 2004, time being of the essence,
Peregrine shall be entitled, as its sole legal or equitable remedy, to terminate
this Agreement and receive and retain $250,000 deposited into Escrow by
Purchaser as and for its liquidated damages.  The balance of the funds then held
in Escrow ($550,000) shall be refunded to the Purchaser.  If Peregrine, through
no fault of the Purchaser, fails to the close the transaction by December 1,
2004, time being of the essence, Purchaser shall have the right, in

                                        2
<PAGE>
lieu of any other legal or equitable remedy, to either seek specific performance
of this Agreement or to terminate this Agreement and receive back all sums
deposited into Escrow.  In no event shall any party be liable to the other for
any consequential, special or punitive damages.

                                   ARTICLE II
                                     CLOSING

     Section  2.1     The Closing.  The closing of the transactions contemplated
                      -----------
by  this Agreement shall take place on or before December 1, 2004, provided that
a  representative of the Purchaser has been added to the existing Liquor License
by  the  NYS  Liquor Authority of the State of New York that allows Purchaser to
sell  alcoholic  beverages  on  the  Premises  (the  "Closing Date"), at the law
offices of Jaffe & Asher, LLP, 600 Third Avenue, New York, New York 10016, or at
such  other  time  and  place  as  agreed  upon  among  the  parties hereto (the
"Closing").

     Section  2.2     Delivery  and  Execution.  At the Closing: (a) the Sellers
                      ------------------------
shall  deliver  to RCI New York certificates evidencing the Shares of Peregrine,
free and clear of any liens, claims, equities, charges, options, rights of first
refusal  or  encumbrances,  duly endorsed to RCI New York or accompanied by duly
executed stock powers in form and substance satisfactory to RCI New York against
delivery  by  RCI  New  York to the Sellers of payment in an amount equal to the
Purchase  Price  of the Shares being purchased by RCI New York in the manner set
forth  herein;  (b)  the  Related  Transactions  (as  defined  below)  shall  be
consummated  concurrently with the Closing; and (c) the Conditions to Closing of
the  Sellers  and  RCI  New York as set forth in Article V and VI, respectively,
shall  have been satisfied or waived in writing by the party authorized to waive
such  condition.

     Section 2.3     Related Transactions.  In addition to the purchase and sale
                     --------------------
of  the  Shares, the following actions shall take place contemporaneously at the
Closing  (collectively,  the  "Related  Transactions"):

     (i)       The  Sellers  will  enter  into  a  five (5) year covenant not to
               compete pursuant to the terms of which the Sellers will agree not
               to  compete,  either  directly of indirectly, with Peregrine, the
               Paradise  Club,  RCI  New  York  or  Rick's  by  operating  an
               establishment  featuring  live  female  nude  or  semi-nude
               entertainment  within  the  corporate  limits  of the city of New
               York,  New  York;

     (ii)      The  Landlord  shall  consent  in  writing to the transfer of the
               Shares  to  the  Purchaser  at  the  time  of  Closing and to the
               continuation  of  the  existing  lease  with the Purchaser as the
               owner  of  the  Shares. If requested by the Landlord, Rick's or a
               creditworthy  principal  of  Rick's  satisfactory to the Landlord
               will  execute  a  "good-guy"  guaranty  similar to that signed by
               Philip  Eisenberg  which guaranties the lease payments during the
               period  of  actual  use  and occupancy of the premises by RCI New
               York;

     (iii)     The  estoppel  certificate to Purchaser from Peregrine shall have
               been  executed  and  the  Landlord  shall  consent  and execute a
               Non-Disturbance  Agreement in a form acceptable to Purchaser; and

                                        3
<PAGE>
     (iv)      Purchaser, Rick's and Peregrine, as applicable, shall execute and
               deliver the Promissory Note, Stock Pledge Agreements and Security
               Agreement  securing  the  Promissory Note and execute and deliver
               the  other  documents  required thereby. The form of Stock Pledge
               Agreement and Security Agreement are as annexed hereto as Exhibit
               2.3  (i,  ii  and  iii).

                                   ARTICLE III
                         REPRESENTATIONS AND WARRANTIES
                          OF THE SELLERS AND PEREGRINE

     The  Sellers  and  Peregrine,  jointly  and severally, hereby represent and
warrant  to  RCI  New  York  and  Rick's  as  follows:

     Section  3.1.     Organization, Good Standing and Qualification.  Peregrine
                       ----------------------------------------------
(i) is an entity duly organized, validly existing and in good standing under the
laws of the New York, (ii) has all requisite power and authority to carry on its
business,  and  (iii)  is  duly  qualified  to  transact business and is in good
standing  in  all  jurisdictions  where  its  ownership,  lease  or operation of
property  or  the  conduct  of  its business requires such qualification, except
where  the  failure  to  do  so  would not have a material adverse effect to the
Sellers  or  Peregrine,  respectively.

     At  Closing,  the  authorized  capital  stock  of Peregrine consists of 200
shares of common stock, no par value, of which 100 shares are validly issued and
outstanding.  There  are  no  shares of preferred stock authorized or issued and
there is no other class of capital stock authorized or issued by Peregrine.  All
of  the  issued and outstanding shares of common stock of Peregrine are owned by
the  Sellers  and  are fully paid and non-assessable.  None of the shares issued
are  in  violation  of  any  preemptive  rights.  Peregrine has no obligation to
repurchase,  reacquire,  or  redeem any of its outstanding capital stock.  There
are  no  outstanding  securities  convertible  into  or  evidencing the right to
purchase or subscribe for any shares of capital stock of Peregrine, there are no
outstanding  or  authorized  options,  warrants,  calls,  subscriptions, rights,
commitments  or  any  other  agreements of any character obligating Peregrine to
issue  any  shares  of  its  capital stock or any securities convertible into or
evidencing  the right to purchase or subscribe for any shares of such stock, and
there  are  no  agreements  or  understandings with respect to the voting, sale,
transfer  or  registration  of  any  shares  of  capital  stock  of  Peregrine.

     Section  3.2     Subsidiaries.  Peregrine  has  no  subsidiaries.
                      ------------

     Section 3.3     Ownership of the Shares.  The Sellers own, beneficially and
                     -----------------------
of  record,  all of the Shares of Peregrine free and clear of any liens, claims,
equities,  charges,  options,  rights  of  first refusal, or encumbrances.   The
Sellers  have  the  unrestricted right and power to transfer, convey and deliver
full  ownership  of  the  Shares  without  the consent or agreement of any other
person  and without any designation, declaration or filing with any governmental
authority.  Upon  the  transfer  of  the  Shares to RCI New York as contemplated
herein,  RCI  New York will receive good and valid title thereto, free and clear
of  any  liens,  claims,  equities,  charges,  options, rights of first refusal,
encumbrances  or  other  restrictions  (except  those  imposed  by  applicable
securities  laws).

                                        4
<PAGE>
     Section  3.4     Authorization.  Sellers represent that they are persons of
                      -------------
full  age  of  majority,  with full power, capacity, and authority to enter into
this  Agreement  and  perform  the  obligations  contemplated  hereby by and for
themselves.  All  action on the part of Sellers necessary for the authorization,
execution,  delivery and performance of this Agreement by him has been taken and
will  be  taken  prior  to  Closing.  This  Agreement,  when  duly  executed and
delivered in accordance with its terms, will constitute legal, valid and binding
obligations  of  Sellers  enforceable  against him in accordance with its terms,
except  as  may  be  limited by bankruptcy, insolvency, reorganization and other
similar  laws of general application affecting creditors' rights generally or by
general  equitable  principles.

     All  corporate  action  on  the  part  of  Peregrine  necessary  for  the
authorization,  execution,  delivery  and  performance  of  this  Agreement  by
Peregrine  has  been  taken or will be taken prior to the Closing. As a New York
corporation,  Peregrine  has  the  requisite  corporate  power  and authority to
execute,  deliver and perform this Agreement. This Agreement, when duly executed
and  delivered in accordance with its terms, will constitute a valid and binding
obligation  of  Peregrine,  enforceable against Peregrine in accordance with its
terms,  except  as may be limited by bankruptcy, insolvency, reorganization, and
other  similar  laws  of general application relating to or affecting creditors'
rights  and  to  general  equitable  principles.

     Section 3.5     Sellers' Access to Information.  The Sellers hereby confirm
                     ------------------------------
and  represent  that they (a) have received a copy of Rick's Form 10-KSB for the
year  ended September 30, 2003, as amended, and a copy of Rick's Form 10-QSB for
the  quarter  ended December 31, 2003, March 31, 2004 and June 30, 2004; (b) has
been  afforded  the  opportunity  to  ask  questions of and receive answers from
representatives  of  Rick's  concerning  the  business  and financial condition,
properties,  operations  and  prospects  of  Rick's;  (c) has such knowledge and
experience  in  financial and business matters so as to be capable of evaluating
the  relative  merits and risks of the transactions contemplated hereby; (d) has
had  an  opportunity  to engage and is represented by an attorney of its choice;
(e)  has  had  an  opportunity  to  negotiate  the  terms and conditions of this
Agreement;  (f) has been given adequate time to evaluate the merits and risks of
the  transactions  contemplated hereby; and (g) has been provided with and given
an opportunity to review all current information about Rick's.  The Sellers have
asked  such  questions  about Rick's as it desires to ask and all such questions
have  been  answered  to  the  full  satisfaction  of  the  Seller.

     Section  3.6     Acquisition  of  Stock  for  Investment.  The  Sellers
                      ---------------------------------------
understand  that  any issuance of Rick's Common Stock upon the conversion of the
Promissory  Note  (as  referenced  in  Section  1.2  herein)  will not have been
registered  under  the  Securities  Act  of 1933, as amended (the "Act"), or any
state  securities  acts, and are accordingly, are restricted securities, and the
Sellers  represent  and  warrant  to  the Purchaser and Rick's that the Sellers'
present  intention  if  Purchaser chooses to convert, is to receive and hold the
Rick's  Common Stock for investment only and not with a view to the distribution
or  resale  thereof.

     Additionally,  the  Sellers  understand  that any sale of any Rick's Common
Stock issued, under current law, will require either (a) the registration of the
Rick's  Common  Stock  under  the  Act and applicable state securities acts; (b)
compliance  with  Rule  144  of the Act; or (c) the availability of an exemption
from  the  registration  requirements of the Act and applicable state securities
acts.  The  Sellers  understand  that  Rick's  intends  to  file  a Registration
Statement  to  register  the  Rick's  Common

                                        5
<PAGE>
Stock that may be issued to the Sellers as contemplated herein within sixty (60)
days  after  the  Closing.

     To  assist in implementing the above provisions, the Sellers hereby consent
to  the  placement  of  the legend, or a substantially similar legend, set forth
below,  on  all  certificates  representing ownership of the Rick's Common Stock
acquired  hereby  until  the  Rick's Common Stock has been sold, transferred, or
otherwise  disposed  of,  pursuant to the requirements hereof.  The legend shall
read  substantially  as  follows:

          "THESE  SECURITIES  HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
          ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES ACTS.
          THESE  SECURITIES  HAVE  BEEN  ACQUIRED  FOR  INVESTMENT,  ARE
                                         --------
          RESTRICTED  AS  TO  TRANSFERABILITY,  AND  MAY  NOT  BE  SOLD,
          HYPOTHECATED,  OR  OTHERWISE  TRANSFERRED WITHOUT COMPLIANCE WITH
          THE  REGISTRATION  AND  QUALIFICATION  PROVISIONS  OF  APPLICABLE
          FEDERAL  AND  STATE  SECURITIES  LAWS  OR  APPLICABLE  EXEMPTIONS
          THEREFROM."

     Section  3.7     No  Breaches  or Defaults.  Except as set forth in Exhibit
                      -------------------------
3.7,  the  execution, delivery, and performance of this Agreement by the Sellers
and  Peregrine  does not:  (i) conflict with, violate, or constitute a breach of
or  a  default  under,  (ii)  result  in the creation or imposition of any lien,
claim,  or  encumbrance  of  any  kind  upon  the  Shares,  or (iii) require any
authorization,  consent,  approval, exemption, or other action by or filing with
any  third  party  or  Governmental  Authority  under any provision of:  (a) any
applicable  Legal  Requirement,  or (b) any credit or loan agreement, promissory
note,  or any other agreement or instrument to which the Sellers or Peregrine is
a  party  or by which the Shares may be bound or affected.  For purposes of this
Agreement,  "Governmental  Authority"  means any foreign governmental authority,
the  United States of America, any state of the United States, and any political
subdivision  of  any  of  the foregoing, and any agency, department, commission,
board,  bureau,  court,  or similar entity, having jurisdiction over the parties
hereto  or  their  respective  assets  or  properties.  For  purposes  of  this
Agreement,  "Legal  Requirement"  means  any  law, statute,  injunction, decree,
order  or judgment (or interpretation of any of the foregoing) of, and the terms
of  any  license  or  permit  issued  by,  any  Governmental  Authority.

     Section  3.8     Consents.  Except  as set forth in Exhibit 3.8, no permit,
                      --------
consent,  approval  or  authorization  of, or designation, declaration or filing
with,  any  Governmental  Authority or any other person or entity is required on
the  part  of  the  Sellers  or  Peregrine  in connection with the execution and
delivery  by  the Sellers or Peregrine of this Agreement or the consummation and
performance  of  the  transactions  contemplated  hereby.

     Section  3.9     Pending Claims.  Except as set forth in Exhibit 3.9, there
                      --------------
is  no  claim,  suit,  arbitration,  investigation,  judgment,  action  or other
proceeding,  whether  judicial,  administrative or otherwise, now pending or, to
the  best of the Sellers' or Peregrine's knowledge, threatened before any court,
arbitration,  administrative or regulatory body or any governmental agency which
may  result  in  any  judgment,  order,  award,  decree,  liability  or  other
determination which will or could reasonably be expected to have any effect upon
Sellers  or  Peregrine  or the transfer by Sellers to RCI New York of the Shares
under  this  Agreement,  nor  is  there  any basis known to Sellers for any such

                                        6
<PAGE>
action.  No  litigation  is  pending,  or, to Sellers' or Peregrine's knowledge,
threatened  against  Sellers  or  Peregrine, or their assets or properties which
seeks  to restrain or enjoin the execution and delivery of this Agreement or any
of  the  documents  referred  to  herein  or  the  consummation  of  any  of the
transactions  contemplated  thereby or hereby.  Neither Sellers nor Peregrine is
subject  to  any  judicial  injunction  or  mandate  or  any  quasi-judicial  or
administrative  order  or restriction directed to or against them or which would
affect  Peregrine  or  the  Shares  to  be  transferred  under  this  Agreement.

     Section  3.10     Taxes.  Peregrine  has  timely  and  accurately filed all
                       -----
federal,  state,  foreign and local tax returns and reports required to be filed
prior to such dates and have timely paid all taxes shown on such returns as owed
for  the  periods  of such returns, including all sales taxes and withholding or
other  payroll related taxes shown on such returns.  Peregrine has made adequate
provision  for  the  payment of all taxes accruable for all periods ending on or
before  the  Closing  Date to any taxing authority and are not delinquent in the
payment  of  any  tax  or  governmental charge of any nature.  No assessments or
notices  of  deficiency  or other communications have been received by Peregrine
with  respect  to  any  tax  return which has not been paid, discharged or fully
reserved against and no amendments or applications for refund have been filed or
are  planned  with  respect to any such return.  There are no agreements between
Peregrine  and any taxing authority, including, without limitation, the Internal
Revenue Service, waiving or extending any statute of limitations with respect to
any  tax  return.

     Section  3.11     Financial  Statements.  Sellers  and  Peregrine  have
                       ---------------------
delivered to RCI New York the balance sheet of Peregrine as of December 31, 2002
and  2003,  together  with  the  related  statements  of  income,  changes  in
shareholder's  equity  and  cash  flow  for  the  year then ended, including the
related  notes,  all prepared by its certified public accountants.  In addition,
Peregrine  has  delivered  to  RCI  New  York  the  interim  unaudited financial
statements  for  Peregrine  for  the  six  month period ended June 30, 2004 (the
unaudited  balance  sheet  and  interim  financial  statements  are collectively
referred  to  as  the  "Financial  Statements").  Such  Financial  Statements,
including  the  related  notes,  are in accordance with the books and records of
Peregrine  and  fairly  represent  the  financial  position of Peregrine and the
results  of  operations and changes in financial position of Peregrine as of the
dates  and  for the periods indicated, in each case in conformity with generally
accepted accounting principles applied on a consistent basis.  Except as, and to
the extent reflected or reserved against in the Financial Statements, Peregrine,
as  of  the  date  of  the  Financial  Statements,  has no material liability or
obligation of any nature, whether absolute, accrued, continued or otherwise, not
fully  reflected  or  reserved  against  in the Financial Statements.  As of the
Closing Date, Sellers and Peregrine represent there have been no adverse changes
in  the  financial condition or other operations, business, properties or assets
of  Peregrine  in  excess of $25,000 from that reflected in the latest financial
statements  of  Peregrine  as  furnished  pursuant  to  this  Agreement.

     Section  3.12     Labor  Matters.  Peregrine  is  not  a party or otherwise
                       --------------
subject  to  any  collective  bargaining  agreement  with  any  labor  union  or
association.  There  are no discussions, negotiations, demands or proposals that
are  pending  or  have  been  conducted  or  made  with or by any labor union or
association, and there are not pending or threatened against Peregrine any labor
disputes,  strikes  or  work stoppages.  To the best of Sellers' and Peregrine's
knowledge, Peregrine is in compliance with all federal and state laws respecting
employment  and  employment  practices,  terms  and conditions of employment and
wages  and  hours,  and,  to  its  knowledge, is not engaged in any unfair labor
practices.  Peregrine  is not a party to any written or oral contract, agreement
or  understanding  for  the  employment  of any officer, director or employee of
Peregrine.

                                        7
<PAGE>
     Section  3.13     Compliance  with  Laws.  Peregrine  is,  and at all times
                       ----------------------
prior  to  the  date  hereof  have  been,  to  the  best  of their knowledge, in
compliance  with  all  statutes,  orders,  rules,  ordinances  and  regulations
applicable  to  it or to the ownership of their assets or the operation of their
businesses,  except  for  failures  to  be  in  compliance that would not have a
material  adverse  effect  on  the business, properties, condition (financial or
otherwise)  or  prospects  of Peregrine.  Sellers and Peregrine have no basis to
expect,  nor  have  they  received, any order or notice of any such violation or
claim  of violation of any such statute, order, rule, ordinance or regulation by
Peregrine.  Exhibit  3.13  sets forth all licenses and permits held by Peregrine
used in the operation of their businesses.  These licenses and permits represent
all of the licenses and permits required by Peregrine for the operation of their
business.

     Section 3.14     Title to Properties; Encumbrances.  Peregrine has good and
                      ---------------------------------
marketable  title  to  all  of  its  properties  and  assets, real and personal,
tangible  and  intangible,  that  are  material  to  the condition (financial or
otherwise),  business,  operations  or prospects of Peregrine, free and clear of
all  mortgages, claims, liens, security interests, charges, leases, encumbrances
and  other  restrictions  of any kind and nature, except (i) as disclosed in the
Financial  Statements of Peregrine, (ii) statutory liens not yet delinquent, and
(iii) such liens consisting of zoning or planning restrictions, imperfections of
title,  easements,  pledges,  charges  and  encumbrances,  if  any,  as  do  not
materially  detract  from the value or materially interfere with the present use
of  the property or assets subject thereto or affected thereby.   At the time of
Closing,  the  assets  of  Peregrine shall include, but shall not be limited to,
those  set  forth  in  Exhibit  3.14.

     Section  3.15     No  Pending  Transactions.  Except  for  the transactions
                       -------------------------
contemplated  by  this Agreement, neither Sellers nor Peregrine is a party to or
bound by or the subject of any agreement, undertaking, commitment or discussions
or  negotiations  with  any  person  that  could result in (i) the sale, merger,
consolidation  or  recapitalization  of  Peregrine,  (ii) the sale of any of the
assets of Peregrine except in the ordinary course of business, or (iii) the sale
of  any  outstanding  capital  stock  of  Peregrine.

     Section  3.16     No  Undisclosed  Liabilities. To the best of Sellers' and
                       ----------------------------
Peregrine's  knowledge,  Peregrine  does  not  have  any obligation or liability
(contingent  or  otherwise)  that  would  be  required  to  be  reflected in the
financial  statements of the Company in accordance with GAAP except as reflected
in  the  Peregrine  Balance  Sheet.

     Section 3.17     Contracts and Leases.  Except as disclosed in Exhibit
                      --------------------
3.17, Peregrine (i) has no leases of personal property relating to the assets of
the Company, whether as lessor or lessee; (ii) has no contractual or other
obligations relating to the assets of the Company, whether written or oral; and
(iii) has not given any power of attorney to any person or organization for any
purpose relating to the assets of the Company.  Other than as contemplated by
this Agreement, as of the Closing Date, there will not be any lease agreements
for the Premises where The Paradise Club is located.  Peregrine has furnished
Purchaser a copy of each and every contract, lease or other document relating to
the assets of the Company to which they are subject or are a party or a
beneficiary.  To Sellers' and Peregrine's knowledge, such contracts, leases or
other documents are valid and in full force and effect according to their terms
and constitutes a legal, valid and binding obligation of Peregrine and the other
respective parties thereto and are enforceable in accordance with their terms.
Sellers and Peregrine have no knowledge of any default or breach

                                        8
<PAGE>
under such contracts, leases or other documents or of any pending or threatened
claims under any such contracts, leases or other documents.  Neither the
execution of this Agreement, nor the consummation of all or any of the
transactions contemplated under this Agreement, will constitute a breach or
default under any such contracts, leases or other documents which would have a
material adverse effect on the financial condition of Peregrine for the
operation of its business after the Closing.

     Section 3.18     Material Agreements; Action.   Except as listed in Exhibit
                      ---------------------------
3.18  hereto,  there  are  no  material  contracts,  agreements,  commitments,
understandings  or  proposed  transactions,  whether  written  or oral, to which
Sellers  or  Peregrine  is  a  party  or by which they are bound that involve or
relate  to:  (i)  any  of  the  respective  officers, directors, stockholders or
partners  of  Peregrine;  (ii)  the sale of any of the assets of Peregrine other
than  in  the  ordinary  course  of  business;  (iii)  covenants  of Sellers and
Peregrine  not  to  compete  in  any  line of business or with any person in any
geographical area or covenants of any other person not to compete with Peregrine
in  any  line  of  business or in any geographical area; (iv) the acquisition by
Peregrine  of  any  operating business or the capital stock of any other Person;
(v)  the  borrowing of money; or (vi) the expenditure of more than $5,000 in the
aggregate  or  the performance by Peregrine extending for a period more than one
year  from  the  date  hereof,  other  than  in the ordinary course of business.

     Section  3.19     No  Default.  Neither Sellers nor Peregrine is in default
                       -----------
under  any  term or condition of any instrument evidencing, creating or securing
any  indebtedness  of Sellers or Peregrine, and there has been no default in any
material  obligation  to  be  performed  by Sellers or Peregrine under any other
contract,  lease, agreement, commitment or undertaking to which it is a party or
by which it or its assets or properties are bound, nor have Sellers or Peregrine
waived  any material right under any such contract, lease, agreement, commitment
or  undertaking.

     Section  3.20     Books  and  Records.  The books of account, minute books,
                       -------------------
stock  record  books and other records of Peregrine, all of which have been made
available to RCI New York, are accurate and complete and have been maintained in
accordance  with  sound business practices.  Upon Closing, all books and records
will  be  in  the  possession  of  Sellers  or  Peregrine.

     Section  3.21     Insurance Policies.  Copies  of  all  insurance policies
                       ------------------
maintained by Peregrine relating to the operation of The Paradise Club have been
delivered  or  will  be  made available to Purchaser.  The policies of insurance
held by Peregrine are in such amounts, and insure against such losses and risks,
as  Peregrine  and  Sellers  reasonably  deem  appropriate  for its property and
business  operations.  All such insurance policies are in full force and effect,
and  all premiums due thereon have been paid.  Valid policies for such insurance
will  be  outstanding  and  duly  in  force  at  all times prior to the Closing.

     Section  3.22     Employee  Benefit  Plans.  Peregrine  does  not  have  or
                       ------------------------
contribute  to  any  pension,  profit-sharing,  option, other incentive plan, or
other  Employee  Benefit  Plan  (as  defined  in  Section  3(3)  of the Employee
Retirement  Income Security Act of 1974), or have any obligation to or customary
arrangement  with  employees  for  bonuses,  incentive  compensation, vacations,
severance  pay,  insurance,  or  other  benefits except as set forth in Schedule
3.22.  Schedule  3.22  is  a  list  of  each  employee  and  consultant  and the
compensation  paid  to  each  employee  and  consultant.

                                        9
<PAGE>
     Section  3.23     Absence  of  Certain  Changes.  Since  the  date  of  the
                       -----------------------------
Financial Statements, Peregrine has not:

     (a)  suffered  the damage or destruction of any of its properties or assets
          (whether  or  not covered by insurance) which is materially adverse to
          the business or financial condition of Peregrine, taken as a whole, or
          made any disposition of any of its material properties or assets other
          than  in  the  ordinary  course  of  business;
     (b)  made  any  change or amendment in each of their respective certificate
          of  incorporation  and  or  formation  or  Bylaws,  or other governing
          instruments;
     (c)  issued  or  sold  any equity securities or other securities, acquired,
          directly  or  indirectly,  by redemption or otherwise, any such equity
          securities,  reclassified,  split-up  or  otherwise  changed  any such
          equity  security,  or  granted  or entered into any options, warrants,
          calls  or  commitments  of  any  kind  with  respect  thereto;
     (d)  paid,  discharged  or  satisfied  any  material  claim,  liability  or
          obligation (absolute, accrued, contingent or otherwise), other than in
          the  ordinary  course  of  business  except  as  described  on Exhibit
          3.23(d);
     (e)  prepaid  any material obligation having a maturity of more than ninety
          (90)  days  from  the  date  such  obligation  was issued or incurred;
     (f)  cancelled  any material debts or waived any material claims or rights,
          except  in  the  ordinary  course  of  business;
     (g)  made  any  capital  expenditures  or  additions  to property, plant or
          equipment  or  acquired  any  other  property  or  assets  (other than
          materials  and  supplies)  at  a  cost  in  excess  of  $5,000  in the
          aggregate;
     (h)  except  as  described on Exhibit 3.23(h), written off or been required
          to  write  off  any  notes  or  accounts  receivable.

     Section 3.23      Disclosure.  No representation or warranty of the Sellers
                       ----------
or  Peregrine  contained  in  this  Agreement  (including  the  exhibits hereto)
contains  any  untrue  statement  or omits to state a material fact necessary in
order  to  make  the  statements  contained  herein  or therein, in light of the
circumstances  under  which  they  were  made,  not  misleading.

     Section  3.24     Brokerage  Commission.  To  the  extent  a  brokerage
                       ---------------------
commission  is  due  in  connection  with  this  Agreement  or  the transactions
contemplated hereby, Seller assumes the obligation of paying the total brokerage
commission.

                                   ARTICLE IV
                         REPRESENTATIONS AND WARRANTIES
                           OF RCI NEW YORK AND RICK'S

     RCI  New  York  and Rick's hereby represent and warrants to the Sellers and
Peregrine  as  follows:

     Section  4.1     Authorization.  RCI  New  York  is  a  corporation  duly
                      -------------
organized  in  the state of New York and has full power, capacity, and authority
to  enter  into  this Agreement and perform the obligations contemplated hereby.
All  action  on  the  part  of  RCI  New  York  necessary for the authorization,
execution,  delivery  and performance of this Agreement by it has been taken and
will

                                       10
<PAGE>
be  taken prior to Closing.  This Agreement, when duly executed and delivered in
accordance with its terms, will constitute legal, valid, and binding obligations
of  RCI  New York enforceable against RCI New York in accordance with its terms,
except  as  may  be  limited  by  bankruptcy, insolvency, and other similar laws
affecting  creditors'  rights  generally  or  by  general  equitable principles.

     Rick's  is  a corporation duly organized in the state of Texas and has full
power,  capacity,  and  authority  to  enter into this Agreement and perform the
obligations contemplated hereby.  All action on the part of Rick's necessary for
the  authorization,  execution, delivery and performance of this Agreement by it
has  been  taken  and will be taken prior to Closing.  This Agreement, when duly
executed  and  delivered  in  accordance  with its terms, will constitute legal,
valid,  and  binding  obligations  of  Rick's  enforceable  against  Rick's  in
accordance  with  its terms, except as may be limited by bankruptcy, insolvency,
and  other  similar  laws  affecting  creditors'  rights generally or by general
equitable  principles.

     Section  4.2     Valid  Issuance.  The  Rick's  Common  Stock  which may be
                      ---------------
issued  to  the Sellers pursuant to the terms of the Promissory Note referred to
in  Section  1.2  above,  when  issued  in accordance with the provisions of the
Promissory  Note  and  this  Agreement,  will  be validly issued, fully paid and
non-assessable,  and entitled to all of the benefits and rights stated in Rick's
Articles  of  Incorporation  and  other  charter  documents.

     Section  4.3     Restricted Stock.  The shares of Rick's Common Stock to be
                      ----------------
issued  to  the Sellers pursuant to the terms of the Promissory Note referred to
in  Section  1.2  above  are  restricted  securities and may only be sold, under
current law, either by (a) the registration of the Rick's Common Stock under the
Act  and  applicable  state securities acts; (b) compliance with Rule 144 of the
Act;  or (c) the availability of an exemption from the registration requirements
of  the  Act  and  applicable  state  securities acts.  Rick's will use its best
efforts  to  maintain  current  information  by  complying  with  its  reporting
requirements  under  The  Securities  Act  of  1934,  as  amended.  Rick's  will
undertake  to  file  a  Registration  Statement with the Securities and Exchange
Commission to register the Rick's Common Stock within 60 days following Closing.

     Section  4.4     No  Breaches  or Defaults.  Except as set forth in Exhibit
                      -------------------------
4.4,  the execution, delivery, and performance of this Agreement by RCI New York
and Rick's does not:  (i) conflict with, violate, or constitute a breach of or a
default  under  or (ii) require any authorization, consent, approval, exemption,
or  other  action  by  or  filing with any third party or Governmental Authority
under any provision of:  (a) any applicable Legal Requirement, or (b) any credit
or  loan  agreement,  promissory  note,  or any other agreement or instrument to
which  RCI  New  York  or  Rick's  is  a  party.

     Section  4.5     Consents.  Except  as set forth in Exhibit 4.5, no permit,
                      --------
consent,  approval  or  authorization  of, or designation, declaration or filing
with,  any  Governmental  Authority or any other person or entity is required on
the part of RCI New York or Rick's in connection with the execution and delivery
by RCI New York and Rick's of this Agreement or the consummation and performance
of the transactions contemplated hereby other than as required under the federal
securities  laws.

     Section 4.6      Disclosure.  No representation or warranty of RCI New York
                      ----------
or  Rick's  contained in this Agreement (including the exhibits hereto) contains
any  untrue  statement  or  omits to state a material fact necessary in order to
make  the  statements contained herein or therein, in light of the circumstances
under  which  they  were  made,  not  misleading.

                                       11
<PAGE>
                                    ARTICLE V
                        CONDITIONS TO CLOSING OF SELLERS
                                  AND PEREGRINE

     Each  obligation  of  Sellers  and Peregrine to be performed on the Closing
Date  shall  be  subject to the satisfaction of each of the conditions stated in
this Article V, except to the extent that such satisfaction is waived by Sellers
and  Peregrine  in  writing.

     Section  5.1     Representations  and  Warranties  Correct.  The
                      -----------------------------------------
representations and warranties made by RCI New York and Rick's contained in this
Agreement  shall  be  true  and  correct  as  of  the  Closing  Date.

     Section  5.2     Covenants.  All  covenants,  agreements  and  conditions
                      ---------
contained  in  this  Agreement  to be performed by RCI New York and Rick's on or
prior  to  the  Closing  Date  shall have been performed or complied with in all
respects.

     Section  5.3     Delivery  of  Certificate.  RCI  New York and Rick's shall
                      -------------------------
provide to Sellers and Peregrine Certificates, dated the Closing Date and signed
by  the  President of RCI New York and the President of Rick's, respectively, to
the  effect  set  forth  in Section 5.1 and 5.2 for the purpose of verifying the
accuracy  of  such  representations  and  warranties  and  the  performance  and
satisfaction  of  such  covenants  and  conditions.

     Section  5.4     Consents.  All  necessary  consents  and  approvals  of
                      --------
governmental  bodies,  lenders,  lessors and other third parties shall have been
obtained.

     Section  5.5     Payment  of  Purchase  Price.  RCI  New  York  shall  have
                      ----------------------------
tendered  the  Purchase Price for the Shares as referenced in Section 1.2 to the
Sellers  concurrently  with  the  Closing.

     Section  5.5     Related  Transactions.  The  Related  Transactions  as set
                      ---------------------
forth  in  Section  2.3  shall  be  consummated  concurrently  with the Closing.

     Section  5.7     Corporate  Resolutions.  RCI  New  York  and  Rick's shall
                      ----------------------
provide  corporate  resolutions  of  the  Board of Directors of RCI New York and
Rick's,  respectively,  which  approve  the transactions contemplated herein and
authorize  the  execution,  delivery  and  performance of this Agreement and the
documents  referred to herein to which it is or is to be a party dated as of the
Closing  Date.

     Section  5.8     Absence  of Proceedings.  No action, suit or proceeding by
                      -----------------------
or  before any court or any governmental or regulatory authority shall have been
commenced and no investigation by any governmental or regulatory authority shall
have  been  commenced seeking to restrain, prevent or challenge the transactions
contemplated  hereby  or  seeking  judgments  against  RCI  New  York or Rick's.

                                       12
<PAGE>
                                   ARTICLE VI
                            CONDITIONS TO CLOSING OF
                             RCI NEW YORK AND RICK'S

     Each  obligation  of RCI New York and Rick's to be performed on the Closing
Date  shall  be  subject to the satisfaction of each of the conditions stated in
this  Article  VI,  except to the extent that such satisfaction is waived by RCI
New  York  and  Rick's  in  writing.

     Section  6.1     Representations  and  Warranties  Correct.  The
                      -----------------------------------------
representations and warranties made by the Sellers and Peregrine hereof shall be
true  and  correct  as  of  the  Closing  Date.

     Section  6.2     Covenants.  All  covenants,  agreements  and  conditions
                      ---------
contained  in  this Agreement to be performed by the Sellers and Peregrine on or
prior  to  the  Closing  Date  shall have been performed or complied with in all
respects.

     Section  6.3     Delivery  of  Certificate.  Sellers  and  Peregrine  shall
                      -------------------------
provide  to  RCI  New  York  and Rick's Certificates, dated the Closing Date and
signed  by  the  Sellers and by the President of Peregrine, respectively, to the
effect  set  forth  in  Section  6.1  and  6.2  for the purpose of verifying the
accuracy  of  such  representations  and  warranties  and  the  performance  and
satisfaction  of  such  covenants  and  conditions.

     Section  6.4     Delivery  of  Shares.  Sellers  shall  have  delivered
                      --------------------
certificates  evidencing  the Shares of Peregrine, duly endorsed to RCI New York
or  accompanied by duly executed stock powers in form and substance satisfactory
to  RCI  New  York  and  Rick's.

     Section  6.5     Corporate Resolutions.  Peregrine shall provide to RCI New
                      ---------------------
York  and  Rick's a corporate resolution of the Board of Directors of Peregrine,
which  approves  the  transactions  contemplated  herein  and  authorizes  the
execution, delivery and performance of this Agreement and the documents referred
to  herein  to  which  it  is  or is to be a party dated as of the Closing Date.

     Section  6.6     Consents;  Transfer of Licenses and Leases.  All necessary
                      ------------------------------------------
consents  and approvals of governmental bodies, lenders, lessors and other third
parties,  and  any  transfer  of  licenses and leases required for the continued
operation  of  the business of The Paradise Club, including, but not limited to:

          (a)  the  Cabaret  License  issued  by the New York City Department of
               Consumer  Affairs,  shall  be  in  full  force  and  effect;  and
          (b)  Seller  shall  have  obtained the written consent of the landlord
               for  the  transfer  of the Shares to the Purchaser at the time of
               Closing  and  the  continuation  of  the  existing lease with the
               Purchaser  as  the  owner  of  the  Shares.
          (c)  A  representative  of  Purchaser  shall  have  been  added to the
               permanent  Liquor  License  duly  issued  and approved by the NYS
               Liquor  Authority, which will allow for the sale of liquor by the
               Purchaser  on  the  Premises.

                                       13
<PAGE>
          (d)  Purchaser  shall  have  obtained  all necessary permits and other
               authorizations  which  may  be  needed  to  conduct  topless
               entertainment  on  the  Premises,  which  will  serve  liquor.

     Section  6.7     Related  Transactions.  The  Related  Transactions  as set
                      ---------------------
forth in Section 2.3 shall be consummated concurrently with the Closing.

     Section 6.8     Resignation.  The Officers and Directors of Peregrine shall
                     -----------
have provided to RCI New York their written resignations.

     Section  6.9     Ability  to  Audit.  The  Purchaser  and  Rick's  shall be
                      ------------------
satisfied  that  the  Seller's financial statements can be audited in compliance
with  Regulation  S-B  promulgated under the Securities Act of 1933, as amended.

     Section  6.10     Absence of Proceedings.  No action, suit or proceeding by
                       ----------------------
or  before any court or any governmental or regulatory authority shall have been
commenced and no investigation by any governmental or regulatory authority shall
have  been  commenced seeking to restrain, prevent or challenge the transactions
contemplated hereby or seeking judgments against Peregrine or any of its assets.

                                   ARTICLE VII
                       COVENANTS OF SELLERS AND PURCHASER

     Section  7.1     Covenants  of  Sellers
                      ----------------------

     a.     Stand Still.  To induce RCI New York and Rick's to proceed with this
            -----------
Agreement,  Sellers  and  Peregrine  agree  that  until  the Closing Date or the
termination  of  this  Agreement,  neither  Sellers  nor  any  representative of
Peregrine  will  offer to sell or solicit any offer to purchase or engage in any
discussions  or  activities  of  any  nature whatsoever, directly or indirectly,
involving  in  any  manner  the actual or potential sale, transfer, encumbrance,
pledge, collateralization or hypothecation of any assets of Peregrine.   Sellers
and Peregrine hereby agree to advise RCI New York and Rick's of any contact from
any third party regarding the acquisition or other investment in Peregrine or of
any  contact  which  would  relate  to  the  transactions  contemplated  by this
Agreement.

     b.     Access;  Due  Diligence.  Between the date of this Agreement and the
            -----------------------
Closing  Date,  Sellers and Peregrine shall (a) provide RCI New York, Rick's and
their  authorized  representatives  reasonable  access  to  all plants, offices,
warehouse  and other facilities and properties of Peregrine and to the books and
records  of  Peregrine;  (b)  permit RCI New York and Rick's to make inspections
thereof; and (c) cause the officers and advisors of Peregrine to furnish RCI New
York  and  Rick's  with  such financial and operating data and other information
with respect to the business and properties of Peregrine and to discuss with RCI
New  York,  Rick's and their authorized representatives the affairs of Peregrine
as RCI New York and Rick's may from time to time reasonably request.

                                       14
<PAGE>
     c.     Conduct  of  Business.  From  the date of the execution hereof until
            ---------------------
the  Closing Date, Sellers and Peregrine shall operate the business of Peregrine
in the ordinary course consistent with past practices, and:
     (i)       the  Company  will  not  authorize,  declare,  pay  or effect any
               dividend  except  as  is  consistent  with  past practices of the
               Company  or  liquidation  or other distribution in respect of the
               stock  of  the  Company or other equity interest or any direct or
               indirect  redemption, purchase or other acquisition of any equity
               interest  of  the  Company;

     (ii)      the Company will not make any changes in its condition (financial
               or  otherwise), liabilities, assets, or business or in any of its
               business relationships, including relationships with suppliers or
               customers,  that,  when  considered  individually  or  in  the
               aggregate,  might  reasonably  be  expected  to  have  a material
               adverse  effect  on  the  Company;

     (iii)     the  Company  will  not increase the salary or other compensation
               payable  or  to become payable by the Company to any employee, or
               the declaration, payment, or commitment or obligation of any kind
               for  the  payment  by  the Company of a bonus or other additional
               salary  or  compensation  to any such person except in the normal
               course  of  business,  consistent  with  past  practices  of  the
               Company;

     (iv)      the Company will not sell, lease, transfer or assign any of their
               assets,  tangible  or  intangible,  other  than  for  a  fair
               consideration  in  the  ordinary  course  of  business;

     (v)       the  Company will not accelerate, terminate, modify or cancel any
               agreement,  contract,  lease  or  license  (or  series of related
               agreements,  contracts,  leases and licenses) involving more than
               $5,000  to  which  the  Company  is  a  party;

     (vi)      the  Company  will not make any loans to any person or entity, or
               guarantee  any  loan;

     (vii)     the  Company will not waive or release any right or claim held by
               the  Company;

     (viii)    the  Company will operate its business in the ordinary course and
               consistent  with  past  practices  so as to preserve its business
               organization  intact, to retain the services of its employees and
               to  preserve  its  goodwill  and  relationships  with  suppliers,
               creditors,  customers,  and  others having business relationships
               with  it;

     (ix)      the  Company will not issue any note, bond or other debt security
               or  create,  incur  or  assume, or guarantee any indebtedness for
               borrowed  money  or  capitalized  lease  obligations;

     (x)       the  Company  will  not delay or postpone the payment of accounts
               payable  and  other  liabilities  outside  the ordinary course of
               business;

     (xi)      the  Company  will  not make any loan to, or enter into any other
               transaction  with, any of its directors, officers, and employees,
               outside  the  ordinary  course  of  business;

                                       15
<PAGE>
     (xii)     the  Company will not make any change in any method, practice, or
               principle  of  accounting  involving  the  business  or assets of
               Peregrine;

     (xiii)    the  Company  will not issue, sell or otherwise dispose of any of
               its equity securities, or create, sell or dispose of any options,
               rights,  conversion  rights or other agreements or commitments of
               any  kind relating to the issuance, sale or disposition of any of
               its  equity  securities;

     (xiv)     the Company will not reclassify, split up or otherwise change any
               of  its  equity  securities;

     (xv)      the  Company  will not be a party to any merger, consolidation or
               other  business  combination;  and

     (xvi)     the  Company  will not agree to take any action described in this
               Section  7.1(c).

     Section 7.2     Covenants of Purchaser.  Purchaser hereby agrees to use its
                     ----------------------
best  efforts  until the Closing Date to obtain a permanent state liquor license
duly  issued  and approved by the NYS Liquor Authority, which will allow for the
sale  of  liquor  by  the  Purchaser  on  the Premises and as soon as reasonably
possible thereafter Purchaser shall arrange for a representative of Purchaser to
be  added  to  the  aforesaid  liquor  license.

                                  ARTICLE VIII
                                 INDEMNIFICATION

     Section  8.1     Indemnification  from  Sellers and Peregrine.  Sellers and
                      --------------------------------------------
Peregrine,  jointly  and  severally, hereby agree to and shall indemnify, defend
(with  legal counsel reasonably acceptable to RCI New York and Rick's), and hold
RCI New York, Rick's, their officers, directors, employees, affiliates, assigns,
agents  and  legal  counsel (collectively, the "RCI New York Group") harmless at
all  times  after  the  date  of  this  Agreement,  from and against any and all
actions,  suits,  claims,  demands,  debts,  liabilities,  obligations,  losses,
damages,  costs, expenses, penalties or injury  (including reasonable attorneys'
fees  and  costs of any suit related thereto) suffered or incurred by any of the
RCI  New  York  Group  arising  from:  (a) any material misrepresentation by, or
material  breach  of  any  covenant  or  warranty  of  the  Sellers or Peregrine
contained  in  this  Agreement, or any exhibit, certificate, or other instrument
furnished  or  to  be  furnished  by  Sellers  or  Peregrine  hereunder; (b) any
nonfulfillment  of  any  material  agreement on the part of Sellers or Peregrine
under  this  Agreement;  (c)  from any material misrepresentation in or material
omission  from, any certificate or other instrument furnished or to be furnished
to  RCI  New  York  hereunder and/or any agreement related to or entered into in
connection  with  the transactions contemplated hereby; or (d) any suit, action,
proceeding,  claim  or  investigation  against RCI New York which arises from or
which  is  based  upon  or  pertaining to Sellers' or Peregrine's conduct or the
operation  or  liabilities  of  the  business  of Peregrine prior to the Closing
Date.

     If  any  action is brought against RCI New York or Rick's (the "Indemnified
Party") in respect of which indemnity may be sought against Sellers or Peregrine
pursuant to the foregoing paragraph, the Indemnified Party shall promptly notify
Sellers  and  Peregrine  in  writing  of the institution of such action (but the
omission  to  so  notify  Sellers  or  Peregrine  shall  not relieve it from any
liability  that  it

                                       16
<PAGE>
may  have  to  such Indemnified Party except to the extent Sellers and Peregrine
are  materially  prejudiced or otherwise forfeits substantive rights or defenses
by  reason  of such failure), and Sellers and Peregrine shall assume the defense
of  such  action, including the employment of counsel to be chosen by Sellers to
be  reasonably  satisfactory  to the Indemnified Party, and payment of expenses.
The  Indemnified  Party  shall  have  the  right to employ the counsel chosen by
Sellers or their own counsel in any such case, but the fees and expenses of such
counsel  shall  be  at the Indemnified Party's expense, unless the employment of
such counsel shall have been authorized in writing by Sellers in connection with
the  defense  of such action, or Sellers shall not have employed counsel to take
charge  of  the defense of such action, or counsel employed by Sellers shall not
be  diligently  defending  such  action,  or  the  Indemnified  Party shall have
reasonably  concluded  that  there  may  be  defenses  available to it which are
different  from  or  additional  to  those  available  to  Sellers,  or  that
representation  of  such Indemnified Party and Sellers and Peregrine by the same
counsel  would  be  inappropriate  under  applicable  standards  of professional
conduct  due  to  actual or potential differing interests between them (in which
case  Sellers  shall  not have the right to direct the defense of such action on
behalf  of  the Indemnified Party), in any of which event such fees and expenses
shall  been  borne  by  Sellers.  Anything  in  this  paragraph  to the contrary
notwithstanding,  Sellers  shall  not  be  liable  for any settlement of, or any
expenses  incurred  with  respect  to, any such claim or action effected without
Sellers'  written  consent,  which  consent  shall not be unreasonably withheld.
Neither  Sellers  nor  Peregrine shall, without the prior written consent of the
Indemnified  Party,  effect any settlement of any proceeding in respect of which
the  Indemnified Party is a party and indemnity has been sought hereunder unless
such settlement includes an unconditional release of such Indemnified Party from
all liability on claims that are the subject matter of such proceeding.

     Section 8.2     Indemnification from RCI New York and Rick's.  RCI New York
                     --------------------------------------------
and  Rick's  agree to and shall indemnify, defend (with legal counsel reasonably
acceptable to the Sellers) and hold Sellers, Peregrine, its officers, directors,
employees,  agents,  affiliates,  legal  counsel,  successors  and  assigns
(collectively, the "Seller's Group") harmless at all times after the date of the
Agreement  from  and against any and all actions, suits, claims, demands, debts,
liabilities,  obligations, losses, damages, costs, expenses, penalties or injury
(including  reasonably  attorneys'  fees  and costs of any suit related thereto)
suffered or incurred by any of the Seller's Group, arising from (a) any material
misrepresentation  by, or material breach of any covenant or warranty of RCI New
York or Rick's contained in this Agreement or any exhibit, certificate, or other
agreement  or  instrument furnished or to be furnished by RCI New York or Rick's
hereunder;  (b)  any nonfulfillment of any material agreement on the part of RCI
New  York  or  Rick's  under  this  Agreement;  or  (c)  from  any  material
misrepresentation  in  or  material  omission  from, any exhibit, certificate or
other  agreement  or  instrument  furnished  or  to  be furnished to the Sellers
hereunder and/or any agreement related to or entered into in connection with the
transactions contemplated hereby.

     Section 8.3     Defense of Claims.  If any lawsuit or enforcement action is
                     -----------------
filed  against any party entitled to the benefit of indemnity hereunder, written
notice  thereof  shall  be  given  to  the  indemnifying  party  as  promptly as
practicable  (and  in  any  event  not  less than fifteen (15) days prior to any
hearing  date  or  other  date by which action must be taken); provided that the
failure  of  any indemnified party to give timely notice shall not affect rights
to  indemnification  hereunder  except to the extent that the indemnifying party
demonstrates  actual  damage  caused  by  such  failure.  After such notice, the
indemnifying  party  shall  be entitled, if it so elects, to take control of the
defense  and  investigation  of  such lawsuit or action and to employ and engage
attorneys  of  its own choice to handle and defend the same, at the indemnifying
party's  cost,  risk  and  expense;  and  such  indemnified

                                       17
<PAGE>
party shall cooperate in all reasonable respects, at its cost, risk and expense,
with  the  indemnifying party and such attorneys in the investigation, trial and
defense  of  such  lawsuit or action and any appeal arising therefrom; provided,
however,  that  the  indemnified party may, at its own cost, participate in such
investigation,  trial  and  defense  of  such  lawsuit  or action and any appeal
arising  therefrom.  The indemnifying party shall not, without the prior written
consent  of  the  indemnified  party, effect any settlement of any proceeding in
respect  of which any indemnified party is a party and indemnity has been sought
hereunder  unless  such  settlement  of  a  claim, investigation, suit, or other
proceeding  only  involves a remedy for the payment of money by the indemnifying
party  and  includes an unconditional release of such indemnified party from all
liability on claims that are the subject matter of such proceeding.

     Section  8.4     Default  of  Indemnification  Obligation.  If an entity or
                      ----------------------------------------
individual  having  an indemnification, defense and hold harmless obligation, as
above provided, shall fail to assume such obligation, then the party or entities
or  both,  as  the  case  may be, to whom such indemnification, defense and hold
harmless  obligation  is  due  shall  have the right, but not the obligation, to
assume and maintain such defense (including reasonable counsel fees and costs of
any  suit  related  thereto)  and  to make any settlement or pay any judgment or
verdict  as  the  individual  or  entities deem necessary or appropriate in such
individual's or entities' absolute sole discretion and to charge the cost of any
such  settlement,  payment,  expense  and costs, including reasonable attorneys'
fees,  to  the  entity  or  individual  that  had the obligation to provide such
indemnification,  defense and hold harmless obligation and same shall constitute
an additional obligation of the entity or of the individual or both, as the case
may  be.

     Section  8.5     Right to Offset.  In the event that the RCI New York Group
                      ---------------
is  entitled  to  indemnification  in  accordance  with Section 8.1 hereof, then
Purchaser  shall  have  the right to offset any such amount in excess of $50,000
from  any  obligations  that  are  then  due  and  payable to the Sellers or the
Company.

     Section  8.6     Termination.  Indemnification  obligations  of  Peregrine,
                      -----------
Sellers,  RCI  New York and Rick's terminate eighteen (18) months after the date
of  Closing.

                                   ARTICLE IX
                                   TERMINATION

     This  Agreement shall terminate upon the occurrence of any of the following
events:

      (i)   the  transactions contemplated by this Agreement are not consummated
            on  or  before  the  Closing Date (as defined in Section 2.1 (unless
            extended  by  all of the parties hereto in writing). In the event of
            termination  as a result of this Section 9.1, then the funds held by
            the  Escrow  Agent will be disbursed in accordance with Section 1.3;

      (ii)  all  of  the  parties  mutually  agree  in writing to terminate this
            Agreement;

      (iii) if  the  NYS  liquor  authority for the state of New York denies the
            addition  of  a  representative  of Purchaser to the existing Liquor
            License to sell alcohol on the Premises by December 1, 2004 then the
            Purchaser  or  Peregrine  will  have  the  right  at

                                       18
<PAGE>
            any  time  by  written  notice  to the other party to terminate this
            Agreement  and the Purchaser shall be refunded $650,000 then held in
            Escrow  and  Peregrine will receive $150,000 then held in Escrow; or

      (iv)  any  state  or  federal  agency having jurisdiction over approval of
            this  transaction  shall  disapprove  of  any  part  of the proposed
            transaction.

                                    ARTICLE X
                                  MISCELLANEOUS

     Section  10.1     Amendment;  Waiver.  Neither  this  Agreement  nor  any
                       ------------------
provision  hereof  may  be  amended, modified or supplemented unless in writing,
executed  by  all  the  parties  hereto.  Except as otherwise expressly provided
herein,  no waiver with respect to this Agreement shall be enforceable unless in
writing  and  signed by the party against whom enforcement is sought.  Except as
otherwise  expressly  provided  herein,  no  failure  to  exercise,  delay  in
exercising,  or  single or partial exercise of any right, power or remedy by any
party,  and  no  course  of  dealing  between or among any of the parties, shall
constitute  a waiver of, or shall preclude any other or further exercise of, any
right,  power  or  remedy.

     Section  10.2     Notices.  Any notices or other communications required or
                       -------
permitted  hereunder  shall be sufficiently given if in writing and delivered in
Person,  transmitted  by  facsimile  transmission (fax) or sent by registered or
certified  mail  (return  receipt  requested)  or  recognized overnight delivery
service,  postage  pre-paid,  addressed as follows, or to such other address has
such  party  may  notify  to  the  other  parties  in  writing:

     (a)  if to the Sellers or Peregrine:       Philip and Lena Eisenberg
                                                38 Evergreen Pl.
                                                Demarest, New Jersey 07627

               with  a  copy  to:               Jaffe and Asher
                                                600 Third Avenue
                                                New York, New York 10016

     (b)  if to RCI New York or Rick's:         Eric Langan
                                                505 North Belt, Suite 630
                                                Houston, Texas 77060

          with  a  copy  to:                    Robert D. Axelrod
                                                Axelrod, Smith & Kirshbaum
                                                5300 Memorial Drive, Suite 700
                                                Houston, Texas 77007

A  notice  or  communication  will be effective (i) if delivered in Person or by
overnight  courier,  on the business day it is delivered, (ii) if transmitted by
telecopier,  on  the  business  day  of  actual  confirmed

                                       19
<PAGE>
receipt  by  the addressee thereof, and (iii) if sent by registered or certified
mail,  three  (3)  business  days  after  dispatch.

     Section  10.3     Severability.  Whenever  possible, each provision of this
                       ------------
Agreement shall be interpreted in such manner as to be effective and valid under
applicable  law, but if any provision of this Agreement is held to be prohibited
by  or  invalid under applicable law, such provision will be ineffective only to
the extent of such prohibition or invalidity, without invalidating the remainder
of  this  Agreement.

     Section  10.4     Assignment;  Successors and Assigns.  Except as otherwise
                       -----------  ----------------------
provided  herein,  the  provisions  hereof shall inure to the benefit of, and be
binding  upon,  the  successors and permitted assigns of the parties hereto.  No
party  hereto  may  assign  its  rights  or  delegate its obligations under this
Agreement  without  the prior written consent of the other parties hereto, which
consent  will  not  be  unreasonably  withheld.

     Section 10.5     Survival of Representations, Warranties and Covenants. All
                      -----------------------------------------------------
representations  and  warranties made in, pursuant to or in connection with this
Agreement  shall  survive  the  execution and delivery of this Agreement for the
maximum  period  allowed  by  law.

     Section  10.6     Public  Announcements.   The  parties  hereto  agree that
                       ---------------------
prior  to  making  any  public  announcement  or  statement  with respect to the
transactions  contemplated  by  this  Agreement, the party desiring to make such
public announcement or statement shall consult with the other parties hereto and
exercise  their  best  efforts  to  (i)  agree  upon  the text of a joint public
announcement  or  statement  to  be  made  by all of such parties or (ii) obtain
approval  of  the  other  parties hereto to the text of a public announcement or
statement  to  be  made  solely  by  the  party  desiring  to  make  such public
announcement;  provided, however, that if any party hereto is required by law to
make  such public announcement or statement, then such announcement or statement
may  be  made  without  the  approval  of  the  other  parties.

     Section  10.7     Entire Agreement.  This Agreement and the other documents
                       ----------------
delivered  pursuant  hereto  constitute  the  full  and entire understanding and
agreement  between  the  parties  with  regard  to the subject matter hereof and
thereof  and supersede and cancel all prior representations, alleged warranties,
statements,  negotiations,  undertakings,  letters, acceptances, understandings,
contracts and communications, whether verbal or written among the parties hereto
and thereto or their respective agents with respect to or in connection with the
subject  matter  hereof.

     Section  10.8     Choice  of Law.  This Agreement shall be governed by, and
                       --------------
construed  in accordance with, the laws of the State of New York, without regard
to  principles  of  conflict  of  laws.

     Section  10.9     Counterparts  and  Facsimiles.  This  Agreement  may  be
                       -----------------------------
executed  in  multiple  counterparts  and in any number of counterparts, each of
which  shall  be  deemed  an  original,  but  all  of which taken together shall
constitute  and  be  deemed  to be one and the same instrument and each of which
shall  be  considered  and  deemed an original for all purposes.  This Agreement
shall  be effective with the facsimile signature of any of the parties set forth
below  and  the facsimile signature shall be deemed as an original signature for
all  purposes and the Agreement shall be deemed as an original for all purposes.

                                       20
<PAGE>
     Section  10.10     Costs  and  Expenses.   Each  party  shall pay their own
                        --------------------
respective  fees,  costs  and  disbursements  incurred  in  connection with this
Agreement.

     Section 10.11     Section Headings.  The section and subsection headings in
                       ----------------
this Agreement are used solely for convenience of reference, do not constitute a
part of this Agreement, and shall not affect its interpretation.

     Section  10.12     No Third-Party Beneficiaries.  Nothing in this Agreement
                        ----------------------------
will  confer  any  third  party  beneficiary  or  other  rights  upon any person
(specifically  including any employees of Peregrine) or any entity that is not a
party  to  this  Agreement.

     Section  10.13     Validity.  The  invalidity  or  unenforceability  of any
                        --------
provision  of  this Agreement shall not affect the validity or enforceability of
any  other  provisions  of  this Agreement, which shall remain in full force and
effect.

     Section  10.14     Further  Assurances.  Each  party  covenants that at any
                        -------------------
time,  and  from  time  to  time,  after  the Closing Date, it will execute such
additional  instruments  and take such actions as may be reasonably be requested
by  the other parties to confirm or perfect or otherwise to carry out the intent
and  purposes  of  this  Agreement.

     Section  10.15     Exhibits Not Attached.  Any exhibits not attached hereto
                        ---------------------
on  the  date  of  execution  of  this Agreement shall be deemed to be and shall
become  a  part of this Agreement as if executed on the date hereof upon each of
the  parties  initialing  and  dating  each  such exhibit, upon their respective
acceptance  of  its  terms,  conditions  and/or  form.

     IN  WITNESS  WHEREOF,  the  undersigned  have  executed this Stock Purchase
Agreement to become effective as of the date first set forth above.

                                        RCI  ENTERTAINMENT  (NEW  YORK).  INC.

                                        /s/  Eric  Langan
                                        ----------------------------------------
                                        By:  Eric  Langan,  President
                                        Date:  9/15/04
                                             -----------------------------------

                                        RICK'S  CABARET  INTERNATIONAL,  INC.

                                        /s/  Eric  Langan
                                        ----------------------------------------
                                        By:  Eric  Langan,  President
                                        Date:  9/15/04
                                             -----------------------------------

                                       21
<PAGE>
                                        PEREGRINE  ENTERPRISES,  INC.

                                        /s/  Philip Eisenberg
                                        ----------------------------------------
                                        By:  Philip  Eisenberg,  President

                                        /s/  Philip Eisenberg
                                        ----------------------------------------
                                        Philip  Eisenberg,  Individually

                                        /s/  Lena  Eisenberg
                                        ----------------------------------------
                                        Lena  Eisenberg,  Individually

                                       22
<PAGE>

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