25.07.2005 18:55:00
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Bally Total Fitness Independent Directors Reiterate Unanimous Support for CEO Paul Toback and Turnaround Plan
Bally Total Fitness (NYSE:BFT) released today a copy ofits letter in response to correspondence from Liberation InvestmentGroup.
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
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 commercialoperator of fitness centers, with approximately four million membersand nearly 440 facilities located in 29 states, Mexico, Canada, China,Korea and the Caribbean under the Bally Total Fitness(R), CrunchFitness(SM), Gorilla Sports(SM), Pinnacle Fitness(R), Bally SportsClubs(R) and Sports Clubs of Canada(R) brands. With an estimated 150million annual visits to its clubs, Bally offers a unique platform fordistribution of a wide range of products and services targeted toactive, fitness-conscious adult consumers. For more information, visithttp://www.ballyfitness.com.
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