Bally Total Fitness Enters Another New Market With Acquisition of 13 Portland, Oregon Clubs; Bally Now Has a Dominant Presence in Each of the Top 25 U.S. Markets.Business Editors CHICAGO--(BUSINESS WIRE)--May 18, 2000 Bally Total Fitness Bally Total Fitness is an American health club chain with 400 gyms in 70 cities, and claims 4 million customers [1]. The chain has recently opened gyms in South Korea, China & the Bahamas. (NYSE NYSE See: New York Stock Exchange : BFT (Binary File Transfer) An extension to the fax protocol that allows transmission of raw data. A page of text is transmitted faster than a bitmap of the page and is displayed at normal printer resolution at the receiving side. ) today announced its entry into the Portland, Oregon market with the purchase of 13 fitness centers previously operated under the Gold's Gym brand. With this acquisition, Bally gains its first presence in the 24th largest U.S. metropolitan market - making Bally a market leader in every one of the top 25 U.S. markets. The 13 new clubs will be re-branded to the Company's flagship Bally Total Fitness brand, bringing to approximately 385 the total number of Bally facilities serving its approximately 4 million members across North America. Lee Hillman Hillman was a famous British automobile marque, manufactured by the Rootes Group. It was based in Ryton-on-Dunsmore, near Coventry, England, from 1907 to 1976. Before 1907 the company had built bicycles. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bally Total Fitness, pointed to the acquisition of the Portland clubs as "indicative of the continuing vitality and strong growth that characterizes Bally Total Fitness today." Hillman continued, "We are pleased to be adding these outstanding, spacious fitness centers and welcoming their high quality staff to the Bally Total Fitness family. These new facilities provide us with the opportunity to expand our growth into yet another market in a manner consistent with our overall strategy." Hillman concluded, "As with all our acquisitions, we expect these new Portland clubs to be accretive to our business right from the start." Bally Total Fitness is the leading, and only nationwide, commercial operator of fitness centers, with approximately 4 million members and 385 facilities located across North America. With more than 120 million annual visits to its fitness centers, Bally offers a unique platform for distribution of a wide range of products and services targeted to active, fitness-conscious adult consumers. The Company's co-marketing partners include Pepsi Cola Company, Time-Warner, Novartis, MBNA MBNA Monument Builders of North America MBNA Mercedes-Benz North America MBNA Maryland Bank, National Association MBNA Maryland Bank North America MBNA Mount Baker Nurses Association (Bellingham, Washington) America, Netpulse Communications, Sunkist Growers, Household International and Procter & Gamble, among others. For more information, visit www.BallyFitness.com. Forward-looking statements in this release including, without limitation, statements relating to the Company's plans, strategies, objectives, expectations, intentions, and adequacy of resources, are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, among others, the following: general economic and business conditions; competition; success of operating initiatives, advertising and promotional efforts; existence of adverse publicity or litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; acceptance of new product and service offerings; changes in business strategy or plans; quality of management; availability, terms, and development of capital; business abilities and judgment of personnel; changes in, or the failure to comply with, government regulations; regional weather conditions and other factors described in filings of the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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