Bally Total Fitness Offers Crunch Fitness for Sale; Company Continues

    Business Editors/Health/Fitness Writers

    CHICAGO--(BUSINESS WIRE)--May 11, 2005--Bally Total Fitness Holding Corporation (NYSE: BFT), North America's leader in health and fitness products and services, today announced that it is has begun a sale process for its Crunch Fitness(SM) clubs to be conducted by The Blackstone Group L.P.
    "The sale of Crunch is part of our overall strategy to restructure and focus the operations of the Company and further the turnaround of Bally Total Fitness," said Paul Toback, Chairman and CEO of Bally Total Fitness. "The sale of Crunch would provide the buyer with a great fitness brand while enabling Bally to strengthen its core assets. We will evaluate the interest in Crunch we obtain from potential buyers and then determine the best course of action for our stakeholders."
    Crunch Fitness, recognized as a premier brand in the high-end fitness market, currently has more than 85,000 members and operates 21 upscale, full-service gyms in New York City, Chicago, Atlanta, San Francisco, Los Angeles and Miami.
    As previously announced, Bally Total Fitness has engaged The Blackstone Group L.P. to assist in its turnaround strategy. The Company will also continue to look at its entire portfolio of non-core assets to evaluate additional strategic alternatives that benefit stakeholders.

    About Bally Total Fitness

    Bally Total Fitness is the largest and only nationwide commercial operator of fitness centers, with approximately four million members and 440 facilities located in 29 states, Mexico, Canada, Korea, China and the Caribbean under the Bally Total Fitness(R), Crunch Fitness(SM), Gorilla Sports(SM), Pinnacle Fitness(R), Bally Sports Clubs(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.

    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 provisions of the Private Securities Litigation Reform Act 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: the outcome of the SEC and Department of Justice investigations and Bally's internal investigation, including review and restatement of its previously announced or filed financial results and the costs and expenses associated therewith; the audit of the restated financial statements; the identification of one or more other issues that require restatement of one or more prior period financial statements; the completion and audit of Bally's 2004 financial statements; the communication by Bally's management and independent auditors of the existence of material weaknesses in internal controls over financial reporting; general economic and business conditions; competition; success of operating initiatives, advertising and promotional efforts; existence of adverse publicity or litigation (including various shareholder litigations) and the outcome thereof and the costs and expenses associated therewith; 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; ability to remain in compliance with, or obtain waivers under, the Company's loan agreements and indentures; and other factors described in prior filings of the Company with the Securities and Exchange Commission.

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CONTACT: The Blackstone Group Michael Genereux, 212-583-5395 or Peter Laurinaitis, 212-583-5168

KEYWORD: ILLINOIS INDUSTRY KEYWORD: SPORTS MEDICAL PRODUCT SOURCE: Bally Total Fitness

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