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BALLY MANUFACTURING ACQUIRES 19 CALIFORNIA HEALTH CLUBS; COMPANY IS NOW LARGEST OPERATOR IN IT'S MOST PROFITABLE HEALTH CLUB MARKET

BALLY MANUFACTURING ACQUIRES 19 CALIFORNIA HEALTH CLUBS; COMPANY IS
 NOW LARGEST OPERATOR IN IT'S MOST PROFITABLE HEALTH CLUB MARKET
 CHICAGO, Sept. 14 /PRNewswire/ -- Bally Manufacturing Corporation (NYSE: BLY) announced today the acquisition of all the stock of So. Cal. Nautilus Fitness Centers, a California corporation which operates 19 fitness centers in the Southern California area. The facilities will be managed for Bally by its subsidiary, Bally's Health & Tennis Corporation. The shareholders of So. Cal. Nautilus received approximately 975,000 shares of Bally common stock,subject to certain adjustments.
 As a result of the transaction, Bally's Health & Tennis Corp. is now the largest operator of health clubs in Southern California, in terms of number of members, revenue and square footage, with 42 locations in the Greater Los Angeles and San Diego areas.
 Bally's is already the largest health club operator in the United States. Along with its operations in Canada, the company now manages 329 clubs.
 "Our advertising and membership support programs make this an effective method of growth in Southern California," said Bally Chairman & CEO Arthur M. Goldberg.
 "This acquisition reinforces our position as the leader in the health and fitness industry nationwide. The So. Cal. acquisition fits nicely with our plans for future growth," Goldberg added.
 A subsidiary of Bally Manufacturing Corporation, Bally's Health & Tennis Corp. operates its fitness centers under various names, including: Bally's Holiday Health, Bally's Jack LaLanne, Bally's Scandinavian, Bally's President's First Lady, Bally's Chicago Health Clubs, Bally's Vic Tanny, Bally's Vertical Club, Bally's Holiday Spa, Bally's Holiday Fitness Centers and Bally's U.S. Swim & Fitness, and are located in major metropolitan markets including Los Angeles, New York, Chicago, Washington D.C., Philadelphia, Houston, Dallas, Minneapolis, Detroit, Miami, Atlanta, Seattle, Phoenix and Denver.
 Bally Manufacturing is one of the world's foremost operators of casino hotels and fitness centers. Bally is listed on the New York Stock Exchange.
 -0- 9/14/92
 /CONTACT: Michael Kempner or Stan Steinreich of MWW/Strategic Communications, Inc., 201-342-9500, Bally Manufacturing Corporation/
 (BLY) CO: Bally Manufacturing Corporation; So. Cal. Nautilus Fitness Centers ST: Illinois, California IN: SU:


TS -- NY012 -- 8846 09/14/92 07:41 EDT
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Publication:PR Newswire
Date:Sep 14, 1992
Words:354
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