Bally Total Fitness Emerges From Chapter 11 and Closes Transaction with Harbinger Capital Part...(p The Company also announced that fund...),Health

The Company also announced that funds which had been deposited in respect of subscriptions for notes which were to be issued in the rights offering associated with a noteholder sponsored restructuring plan, which was not consummated, will be returned promptly.

More detailed information is available on Bally's website at http://www.ballyfitness.com and from the Company's Chapter 11 website and hotline:

Bally Chapter 11 Information Website: http://www.kccllc.net/bally

Bally Chapter 11 Information Hotline: Toll Free: (888) 251-3046

About Bally Total Fitness

Bally Total Fitness is among the largest commercial operators of fitness centers in the U.S., with over 375 facilities located in 26 states, Mexico, Korea, China and the Caribbean under the Bally Total Fitness(R) and Bally Sports Clubs(R) brands. 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

Forward-looking statements in this release including, without limitation, statements relating to the restructuring, are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Statements that are not historical facts, including statements about the Company's beliefs and expectations are forward-looking statements. These statements are based on beliefs and assumptions by the Company's management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events. In addition, these forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of
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