Bally Total Fitness Retains KPMG LLP as Independent Auditors.Business Editors/Health/Medical Writers CHICAGO--(BUSINESS WIRE)--May 18, 2004 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. Holding Corporation (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 that the Audit Committee of its Board of Directors has selected KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen LLP LLP - Lower Layer Protocol as the Company's new independent auditor. "We are looking forward to working with KPMG. Their high audit standards and commitment to a strong control environment should be helpful in building investor confidence," said Ken Looloian, Chairman of the Audit Committee. Paul Toback, Chairman, 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. and President of Bally Total Fitness Holding Corporation added, "KPMG's broad experience, particularly in the retail and consumer sector where Bally is focused, will be enormously valuable to us as we accelerate our drive to maximize the potential of our business." KPMG LLP becomes the Company's independent auditors effective immediately, replacing Ernst & Young LLP. This change in auditors is also described in the Company's current Report on Form 8-K filed with the Securities and Exchange Commission May 18, 2004. 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, Canada, Asia, Mexico and the Caribbean under the Bally Total Fitness, Crunch Fitness(SM), Gorilla Sports(SM), Pinnacle Fitness, Bally Sports Clubs and Sports Clubs of Canada 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. |
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