Please replace the biographical information for David Kastin with the information listed below due to multiple revisions in the paragraph.
The corrected release should read:
TOWN SPORTS INTERNATIONAL ANNOUNCES RECENT ADDITIONS TO SENIOR MANAGEMENT TEAM
Town Sports International Holdings, Inc. ("TSI") (Nasdaq: CLUB) a leading owner and operator of fitness clubs in the Northeast and Mid-Atlantic region, today announced three recent changes to its management team.
Daniel Gallagher was promoted to Senior Vice President of Finance from Vice President of Finance. David Kastin joined TSI as Senior Vice President, General Counsel and Secretary and James Rizzo joined TSI as Senior Vice President of Human Resources.
"I am very pleased that TSI is able to attract and grow top talent like Dan, David and Jim," said Alex Alimanestianu, Town Sports International's Chief Executive Officer. "They bring a new level of experience, insight and perspective to our growing organization," said Alimanestianu.
Daniel Gallagher
Senior Vice-President of Finance
Mr. Gallagher joined Town Sports International in February of 1999 as Vice President Finance. Dan was instrumental in TSI's successful IPO in 2006. He was promoted to Senior Vice President - Finance in November, 2007. Mr. Gallagher is a former Certified Public Accountant in the State of New York and holds a Bachelors of Science in Accounting from Villanova University. Mr. Gallagher began his career with Coopers and Lybrand in the Business Assurance Practice (audit). After the merger of Coopers and Lybrand with PricewaterhouseCoopers, his career continued in a management role and joined the Mergers and Acquisition Consulting Group in 1998.
David Kastin
Senior Vice President - General Counsel and Corporate Secretary
Mr. Kastin joined Town Sports International in August 2007, following a legal career of over fifteen years in government, private practice, and in-house counsel positions. He began his professional career as an attorney in the Enforcement Division of the U. S. Securities and Exchange Commission in New York. From 1996 through 2003, Mr. Kastin was an associate in the corporate and securities departments at several prominent New York law firms, including Bryan Cave LLP. From March 2003 until 2007, Mr. Kastin was in-house counsel at Toys "R" Us, Inc., most recently as Vice President - Deputy General Counsel. Before joining TSI, Mr. Kastin was Senior Associate General Counsel and Corporate Secretary at Sequa Corporation. Mr. Kastin received a law degree from the Benjamin N. Cardozo School of Law and a B.B.A. in Finance from The George Washington University.
James Rizzo
Senior Vice President/Human Resources
Jim Rizzo joined Town Sports International in February 2007 as Senior Vice President/Human Resources. Prior to Town Sports, he was Vice President/Human Resources for Duane Reade Inc. where as a member of the Company's strategic executive committee, he has planned and implemented the initiatives to recruit, hire, train and staff the Company's rapid expansion in an inner-city retail market. He was responsible for all Human Resources activities, organizational issues, benefits, wage and salary, labor planning and analysis and communications for this $1.8 billion dollar retail drug chain. Before Duane Reade he was President/C.O.O. for Holbrook-Patterson Inc, and for Childcraft, Inc. a subsidiary company of The Walt Disney Corp.. He also was President of Personnel Systems Company and held senior Human Resource positions with Talbots Inc., Hit or Miss Stores and the Melville Corporation. Jim holds a degree from Northeastern University.
About Town Sports International Holdings, Inc.:
New York-based Town Sports International Holdings, Inc. (TSI) (NASDAQ:CLUB) is a leading owner and operator (through its subsidiaries) of fitness clubs in the Northeast and mid-Atlantic regions of the United States. TSI operates (through its subsidiaries) under the brand names of New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs, with 151 clubs and approximately 477,000 members in the U.S. as of September 30, 2007. In addition, the Company operates three facilities in Switzerland with approximately 6,000 members. For more information on TSI visit http://www.mysportsclubs.com.
Forward-Looking Statements:
This press release contains "forward looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. All statements herein that are not historical facts, including statements about our beliefs or expectations and statements about looking ahead or carrying out a vision, are forward-looking statements. These statements are subject to risks, uncertainties, and other factors, including, among others, risks, uncertainties and factors set forth in our reports and documents filed with the United States Securities and Exchange Commission, including our Annual Report on Form 10-K (which reports and documents should be read in conjunction with this press release). We believe that all forward-looking statements are based on reasonable assumptions when made; however, we caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes and that, accordingly, one should not place undue reliance on these statements. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update these statements in light of subsequent events or developments. Actual results and outcomes may differ materially from anticipated results or outcomes discussed in any forward-looking statement.
