Rick's Cabaret International (RICK)

Robert L. Watters, age 58, has been a director of the Company since 1986.  Mr. Watters was president and chief executive officer of the Company from 1991 until March 1999.  He was also a founder in 1989 and operator until 1993 of the Colorado Bar & Grill, an adult cabaret located in Houston, Texas and in 1988 performed site selection, negotiated the property purchase and oversaw the design and permitting for the cabaret that became the Cabaret Royale, in Dallas, Texas.  Mr. Watters practiced law as a solicitor in London, England and is qualified to practice law in New York State.  Mr. Watters worked in the international tax group of the accounting firm of Touche, Ross & Co. (now succeeded by Deloitte & Touche) from 1979 to 1983 and was engaged in the private practice of law in Houston, Texas from 1983 to 1986, when he became involved in the full-time management of the Company.  Mr. Watters graduated from the London School of Economics and Political Science, University of London, in 1973 with a Bachelor of Laws (Honours) degree and in 1975 with a Master of Laws degree from Osgoode Hall Law School, York University.  Since 1999, Mr. Watters has operated a cabaret in New Orleans.