Million Dollar Saloon Declares 11th ConsecutiveDividend.

DALLAS--(BUSINESS WIRE)--The board of directors of the Million Dollar Saloon (OTCBB: MLDS) declared a cash dividend of $0.01 per share for the third quarter of 1998.

The dividend is payable on October 15, 1998 to shareholders of record as of October 5, 1998. Million Dollar Saloon common

According to Nina Furrh, chairman and chief executive officer of MLDS, the continued dividend payment signifies the board's confidence in the company's financial strength and future prospects.

In August 1998, MLDS amended a rental property lease agreement which will increase revenues by $.036 per share with virtually no associated increases in overhead costs.

Furrh said that the board anticipates the continued payment of dividends. Historically, the company's quarterly dividend has been as high as $0.04 per share.

Million Dollar Saloon Inc. is a Dallas-based company which owns and operates the Million Dollar Saloon, which is recognized as one of the premier gentlemen's clubs in the United States.

The company seeks expansion through the acquisition of other clubs as well as the acquisition or development of other entertainment and recreational properties.

Certain statements in this news release regarding future expectations and plans for expansion and the payment of dividends may be regarded as "forward-looking statements" within the meaning of the Securities Litigation Reform Act.

They are subject to various risks, such as the inherent uncertainties in business expansion and financial management which are discussed in detail in the Company's Securities and Exchange Commission filings. Actual results may vary materially.