VCG Holding Corp Announces Results of Annual Shareholder's Meeting

  
    
  
  
    
      VCG Holding Corp. (AMEX: PTT):
    
    
      VCG Holding Corp., a leading owner, operator and consolidator of adult 
      nightclubs, announced that on June 12, 2007, it held it’s 
      Annual Meeting of Shareholders. For more information on the following 
      proposals, see the Company’s proxy statement 
      dated May 24, 2007, the relevant portions of which are incorporated 
      herein by reference.
    
    
      In connection with the Annual Meeting, June 12, 2007, tabulated proxies 
      representing 15,622,367 shares, or 93.2%, of the total outstanding 
      shares voted in the following manner:
    
    
      Proposal 1: The election of directors.
    
    
      
        
        
        
        
        
          FOR
        
        
        
        
          WITHHELD
        
      
      
        
          Nominees:
        
        
        
        
        
        
        
        
        
      
      
        
          Troy H. Lowrie
        
        
        
        
          15,426,238 
        
        
        
        
          2,380 
        
      
      
        
          
            Micheal L. Ocello
          
        
        
        
        
          15,426,238 
        
        
        
        
          2,380 
        
      
      
        
          Robert J. McGraw, Jr
        
        
        
        
          15,426,238 
        
        
        
        
          2,380 
        
      
      
        
          Rand E. Kruger
        
        
        
        
          15,019,987 
        
        
        
        
          602,380 
        
      
      
        
          Allan S. Rubin
        
        
        
        
          15,426,238 
        
        
        
        
          2,380 
        
      
      
        
          Edward Bearman
        
        
        
        
          15,426,238 
        
        
        
        
          2,380 
        
      
      
        
          Martin A. Grusin
        
        
        
        
          15,618,287 
        
        
        
        
          4,080 
        
      
    
    
      Proposal 2: Ratification of the appointment of Causey Demgen & 
      Moore, Inc. as the company’s 
      independent certified public accountants.
    
    
      15,352,975 shares voting for (representing 99.27%)
    
    
      248,142 shares voting against (representing 1.7%)
    
    
      21,250 shares abstaining.
    
    
      Proposal 3: Ratification of February 2, 2007 private placement 
      of 3,000,000 shares of common stock at a price below the then market 
      value of common stock representing more than 20% of outstanding common 
      stock.
    
    
      15,591,582 shares voting for (representing 99.9%)
    
    
      10,035 shares voting against (representing 0.01%)
    
    
      20,750 shares abstaining.
    
    
      About VCG Holding Corp.
    
    
      VCG Holding Corp. is an owner, operator and consolidator of adult 
      nightclubs throughout the United States. The Company currently owns 
      twelve adult nightclubs and one upscale dance lounge. The clubs are 
      located in Indianapolis, St. Louis, Denver, Colorado Springs, Raleigh, 
      Minneapolis, and Louisville.
    
    
      Forward-looking statements
    
    
      Statements contained in this press release concerning future results, 
      performance or expectations are forward-looking statements within the 
      meaning of Section 27A of the Securities Act of 1933, as amended, and 
      Section 21E of the Securities Exchange Act of 1934, as amended. These 
      statements include statements regarding the intent, belief or current 
      expectations of the Company and members of its management team, as well 
      as assumptions on which such statements are based. All forward-looking 
      statements in this press release are based upon information available to 
      the Company on the date of this press release. Forward-looking 
      statements involve a number of risks and uncertainties, and other 
      factors, that could cause actual results, performance or developments to 
      differ materially from those expressed or implied by those 
      forward-looking statements including the following: failure of facts to 
      conform to necessary management estimates and assumptions; the Company’s 
      ability to identify and secure suitable locations for new nightclubs on 
      acceptable terms, open the anticipated number of new nightclubs on time 
      and within budget, achieve anticipated rates of same-store sales, hire 
      and train additional nightclub personnel and integrate new nightclubs 
      into its operations; the continued implementation of the Company’s 
      business discipline over a large nightclub base; unexpected increases in 
      cost of sales or employee, pre-opening or other expenses; the economic 
      conditions in the new markets into which the Company expands and 
      possible uncertainties in the customer base in these areas; fluctuations 
      in quarterly operating results; seasonality; changes in customer 
      spending patterns; the impact of any negative publicity or public 
      attitudes; competitive pressures from other national and regional 
      nightclub chains; business conditions, such as inflation or a recession, 
      or other negative effect on nightclub patterns, or some other negative 
      effect on the economy, in general, including (without limitation) growth 
      in the nightclub industry and the general economy; changes in monetary 
      and fiscal policies, laws and regulations; war, insurrection and/or 
      terrorist attacks on United States soil; and other risks identified from 
      time to time in the Company’s SEC reports, 
      including the Annual Report on Form 10-KSB for 2006, Quarterly Reports 
      on Form 10-QSB and Current Reports on Form 8-K, registration statements, 
      press releases and other communications. The Company undertakes no 
      obligation to update or revise forward-looking statements to reflect 
      changed assumptions, the occurrence of unanticipated events or changes 
      to future operating results over time.