Million Dollar Saloon Declares 12th ConsecutiveDividend.

DALLAS--(BUSINESS WIRE)--Dec. 23, 1998--The board of directors of the Million Dollar Saloon (OTCBB:MLDS) declared a cash dividend of $0.01 per share for the fourth quarter of 1998.

The dividend is payable on January 15, 1999 to shareholders of record as of January 5, 1999. Million Dollar

Nina Furrh, chairman and chief executive officer of MLDS, stated "We are pleased with the opportunity to offer our shareholders their twelfth consecutive dividend. Heading into 1999, we anticipate that the financial strength of the company will allow us to continue to issue dividends to our shareholders."

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.