Exhibit 99.1

              RCG Companies Completes $4.3 Million Equity Financing
              - Company Reports Chartered Leisure Tour Destinations
                     Were Unaffected by Recent Hurricanes -

Charlotte,  NC - September 16, 2004 - RCG Companies  Incorporated  ("RCG", Amex:
RCG) announced  today that it has closed on an equity  financing  agreement with
institutional  and  accredited  investors  through  the  sale of  $4,300,000  of
unsecured  convertible  preferred  stock and associated  warrants and additional
investment  rights to purchase an aggregate of 4,574,468  shares of common stock
at prices  ranging  from $1.03 to $1.20.  The  preferred  stock  bears an annual
dividend  rate of 6% and  converts  into  shares of RCG common  stock at a fixed
price of $.94 per share,  subject to anti-dilution  provisions.  RCG has granted
registration rights in connection with the equity financing.  Further details of
the  financing  are set  forth in the  Current  Report on form 8-K that has been
filed with the SEC by RCG contemporaneously herewith.

Separately,  RCG  reported  that all of the leisure  tour  destinations  that it
currently  offers  charter  vacation  packages to  throughout  the Caribbean and
Mexico have been  unaffected  by the recent  hurricanes  - Charley,  Frances and
Ivan.

Commenting on the  announcement,  Michael D. Pruitt,  Chief Executive Officer of
RCG, stated,  "This financing will allow RCG to continue to execute the business
plans of the travel  businesses  in our  seasonally  slower travel months of the
year into what we  believe  will be a  profitable  calendar  year  2005.  We are
confident that additional  measures  planned to be instituted over the next four
months, including renegotiation of contracts and announcements regarding airline
partners,  will  result in  significant  cost  savings and a platform to achieve
profitability."

About RCG Companies Incorporated

RCG Companies  Incorporated  (www.rcgcompanies.com)  is focused on delivering to
its  shareholders  rapidly growing,  relatively  low-risk  revenues,  along with
increasing  earnings  per share.  The majority of RCG's  revenues are  currently
derived from its wholly  owned travel  service  organizations,  SunTrips(R)  and
Vacation  Express(R),  which  deliver  leisure  and  vacation  travel  packages,
together  making RCG one of the largest  leisure  travel tour  operators  in the
United States. RCG is also involved in the technology  services sector,  through
its wholly owned software and information technology services segment,  Logisoft
Corp.

Statements in this news release about  anticipated or expected future revenue or
growth  or  expressions  of future  goals or  objectives,  including  statements
regarding  whether  current plans to grow and strengthen the Company's  existing
network will be  implemented or  accomplished,  are  forward-looking  statements
within the meaning of Section 21E of the  Securities  Exchange  Act of 1934,  as
amended.  All  forward-looking   statements  in  this  release  are  based  upon
information available to the Company on the date of this release.

Any  forward-looking  statements involve risks and uncertainties,  including the
risk that the Company will be unable to grow or strengthen  its network due to a
lack of capital or an inability to identify acquisition  candidates and that the
Company may not realize anticipated cost savings or revenue growth opportunities
associated  with  restructuring  certain  operational  and  financial  policies,
procedures,  and contracts of SunTrips(R) and Vacation Express(R)  Additionally,
forward-looking  statements concerning the performance of the travel and leisure
industry are based on current market  conditions and risks,  which may change as
the result of certain  regulatory,  political  or  economic  events,  a shift in
consumer travel preferences,  as well as those risks and uncertainties described
in the Company's filings with the Securities and Exchange Commission, that could
cause actual events or results to differ  materially  from the events or results
described  in  the  forward-looking  statements,  whether  as a  result  of  new
information,  future  events or  otherwise.  Readers are  cautioned not to place
undue reliance on these forward-looking statements.



Investor Contact:
Robert B. Prag, President
The Del Mar Consulting Group, Inc.
(858) 794-9500
bprag@delmarconsulting.com