Town Sports International Holdings, Inc. (the “Company”) (NASDAQ: CLUB), announced today that it has successfully completed a repricing of its currently outstanding $270.7 million senior secured term loan, reducing current interest rates on the term loan by a total of 125 basis points. The repricing was effected through an amendment to the Company's existing credit agreement. The amendment reduced the applicable margin on the initial term loans from 4.50% to 3.50% for Base Rate Loans and from 5.50% to 4.50% for Eurodollar Loans and reduced the interest rate floor on the initial term loans from 2.50% to 2.25% for Base Rate Loans and from 1.50% to 1.25% for Eurodollar Loans. The credit agreement was also amended to convert the existing voluntary prepayment penalty from a 101 hard call provision, originally scheduled to end in May 2013, to a 101 soft call provision ending in August 2013. All other principal provisions, including maturity and covenants under the Company’s existing credit agreement, comprised of the term loan facility and a $50 million revolving credit facility, remain unchanged. The Company expects to incur approximately $4.1 million in fees and expenses in connection with the amendment, including a 1.0% amendment fee of $2.7 million and $1.4 million of related bank and legal fees. Dan Gallagher, Chief Financial Officer, commented: “We have greatly improved the Company’s credit profile over the past year and are pleased we were able to complete this re-pricing, saving approximately $3.4 million of cash interest costs in 2013.” About Town Sports International Holdings, Inc. New York-based Town Sports International Holdings, Inc. is a leading owner and operator of fitness clubs in the Northeast and mid-Atlantic regions of the United States and, through its subsidiaries, owns and operates 160 health and fitness facilities in four major metropolitan areas—New York, Boston, Washington, D.C. and Philadelphia—with over a half million members.