CHICAGO--(BUSINESS WIRE)--May 5, 2004--Bally Total Fitness Holding
Corporation (NYSE: BFT) announced today that it has named Barry M.
Deutsch to its Board of Directors and Audit Committee. Mr. Deutsch
joins Bally with nearly 20 years of experience in the healthcare,
finance and mergers and acquisitions arenas. Mr. Deutsch is presently
the chief financial officer at Ovation Pharmaceuticals, a
Chicago-based specialty pharmaceutical company. Mr. Deutsch joined
Ovation in 2001 and has been instrumental in Ovation's financings and
acquisitions. Mr. Deutsch will replace Martin Franklin, who resigned
earlier this week, citing time commitments.
"We expect the addition of Barry to further strengthen our Board
of Directors," said Paul Toback, Bally Total Fitness' chairman,
president, and chief executive officer. "He brings a deep knowledge of
accounting and finance, as well as tremendous contacts in those areas.
We are fortunate to have him on the team to help guide the Company to
continued growth and success."
Deutsch said, "I have been particularly impressed with what the
Bally team has accomplished in the past 16 months. I look forward to
providing my experience and insights to further assist the Company
with its specific business goals and objectives."
Toback added, "I'd like to thank Martin Franklin for his service
over the last year and for all his advice and counsel."
About Barry M. Deutsch:
Prior to joining Ovation Pharmaceuticals, Mr. Deutsch was a
healthcare investment banker with Vector Securities International and
Prudential Vector Healthcare Group where he assisted companies in the
life sciences industry in raising capital and evaluating and
negotiating mergers, acquisitions, and strategic alliances. Mr.
Deutsch joined Vector Securities shortly after the firm was formed
and, for the next 12 years, was a key contributor to the firm's growth
that culminated in the sale of the firm to Prudential Securities and
the creation of Prudential Vector Healthcare. Mr. Deutsch has
significant experience working with large healthcare companies on
acquisitions and divestitures, as well as experience with specialty
pharmaceutical and biotechnology organizations.
Prior to joining Vector Securities, Mr. Deutsch was an Analyst in
the corporate finance group of Salomon Brothers. Mr. Deutsch is a
Certified Public Accountant, and he received an MBA degree from the
Kellogg Graduate School of Management at Northwestern University and a
BSE degree from the Wharton School of the University of Pennsylvania.
Mr. Deutsch is 41 years old.
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 420 facilities located in 29 states, Canada, Asia, Mexico
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.
CONTACT: Bally Total Fitness Holding Corporation, Chicago
Jon Harris, 773-864-6850
www.ballyfitness.com
or
The MWW Group
Public Relations - 201-507-9500
Joe Cohen - Email: jcohen@mww.com
SOURCE: Bally Total Fitness Holding Corporation
