Health & Fitness, Inc. Extends Expiration Date for Exchange Offers

Business Wire, Sept 9, 1999

LOGAN, Utah--(BUSINESS WIRE)--Sept. 8, 1999--

ICON Health & Fitness, Inc. ("ICON") today announced that it is extending the expiration date for its exchange offer and consent solicitation for its 13% Senior Subordinated Notes due 2002, the 15% Senior Secured Discount Notes due 2004 of IHF Holdings, ICON's immediate parent company, and the 14% Senior Discount Notes due 2006 of ICON Fitness Corporation, IHF Holdings' immediate parent company, until 5:00 p.m., New York City time, on September 15, 1999. ICON announced that it is extending the exchange offers as it is in the midst of finalizing negotiations of the terms of its new credit facility with its new bank group.

As of 5:00 p.m., New York City time, on September 8, 1999, $99,750,000 principal amount (or approximately 99%) of the 13% Notes of ICON, $123,750,000 principal amount (or 100%) of the 15% Notes of IHF Holdings and $155,000,000 principal amount (or approximately 96%) of the 14% Notes of ICON Fitness Corporation had been tendered in the exchange offers. The exchange offers are subject to a number of conditions which are set forth in an Exchange Offer and Consent Solicitation Statement dated July 28, 1999, as supplemented by a Supplement to Exchange Offer and Consent Solicitation Statement dated August 30, 1999.

Persons with questions regarding the exchange offers should contact MacKenzie Partners, Inc., the Information Agent for the exchange offers, at 800-322-2885.