Bally Total Fitness Independent Directors Reiterate Unanimous Support for CEO Paul Toback and Turnaround Plan.CHICAGO -- 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. ) released today a copy of its letter in response to correspondence from Liberation Investment Group. July 25, 2005 Mr. Emanuel Pearlman Liberation Investment Group 11766 Wilshire Boulevard, Suite 870 Los Angeles, California 90025 Re: Your Letter Dated July 21, 2005 Dear Mr. Pearlman: We received your latest letter and do not intend to engage in ongoing correspondence by again addressing specifics. As with any shareholder, we have carefully considered your views as expressed in your two recent letters, in our meetings with you and in your numerous calls to various Directors. We stand behind our earlier response and wish to reiterate the Independent Directors' support for CEO Paul Toback, his management team and turnaround plan. Our vote of support for Mr. Toback and against adding you to the Board of Directors was unanimous. Mr. Toback and his team are executing our turnaround plan and moving Bally forward to maximize shareholder value. Sincerely, The Independent Directors of the Board of Bally Total Fitness Holding Corporation About Bally Total Fitness Bally Total Fitness is the largest and only nationwide commercial operator of fitness centers, with approximately four million members and nearly 440 facilities located in 29 states, Mexico, Canada, China, Korea and the Caribbean under the Bally Total Fitness(R), Crunch Fitness(SM), Gorilla gorilla, an ape, Gorilla gorilla, native to the lowland and mountain forests of western and central equatorial Africa. It is the largest of the apes, the males reaching a height of 5 to 6 ft (150–190 cm) with a 9-ft (144–cm) arm spread. Sports(SM), Pinnacle Fitness(R), Bally bally Adjective, adv Brit old-fashioned, slang extreme or extremely: a bally nuisance, he's too bally charming for his own good Adj. 1. Sports Clubs A sports club, athletics club or sports association is an eclectic institution oriented to multiple sports, which fields many teams and has varied sports departments in several sports, working under the same umbrella organization. (R) and Sports Clubs of Canada(R) brands. With an estimated 150 million annual visits to its clubs, Bally offers a unique platform for distribution of a wide range of products and services targeted to active, fitness-conscious adult consumers. For more information, visit http://www.ballyfitness.com. |
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