PARTNERSHIP CAPITAL GROWTH ACTS AS SOLE ADVISOR TO FITNESS WORLD FOR ACQUISITION BY ANGELO GORDON

SAN FRANCISCO, CA (January 11, 2010) -- Partnership Capital Growth, a full-service, boutique investment bank that focuses exclusively on the healthy, active and sustainable living marketplace, announced that Angelo Gordon & Co. acquired H&C Management Consultants, Ltd. dba Fitness World in partnership with New Evolution Fitness, Steve Nash Sports Club, Fitness World founder Henry Polessky, and members of Fitness World’s senior management team.

Founded in 1959, Fitness World is the most prominent brand in Vancouver fitness. With over 100,000 members and now 15 clubs spanning from Delta to Langley, the company offers convenience, versatility and a value commitment resulting in six years of being named the “No. 1 Fitness Club in the Lower Mainland” by Vancouver Magazine. The transaction included a merger with the Steve Nash Sports Club and a rebranding of Fitness World to Steve Nash Fitness World. The company will continue to operate unique and separate brands providing the most comprehensive offering of fitness clubs in British Columbia.  
 
"Acquiring Fitness World, the largest brand in the B.C. market, allows us to cover all levels and price points while giving us the foothold to expand our market position," said New Evolution's Mark Mastrov, who is also a partner in the Steve Nash Sports Clubs.

“Steve Nash and Mark Mastrov are two of the most important names in fitness and undoubtedly the right team to continue the Fitness World legacy,” said Brent Knudsen, Managing Partner of Partnership Capital Growth. “The organizational strength of Fitness World coupled with the expertise of Angelo Gordon and New Evolution Fitness provide the ideal foundation for ongoing success and growth.”

ABOUT STEVE NASH FITNESS WORLD AND STEVE NASH SPORT CLUBS
Steve Nash Fitness World provides full-service health clubs with thirteen conveniently located facilities throughout Vancouver, British Columbia. Steve Nash Sports Clubs, established in 2007 by Steve Nash, Mark Mastrov and Leonard Schlemm, operate two full-service sports clubs in Vancouver with a third club opening in White Rock. On a combined basis, the company achieved sales in excess of $50 million. For more information about Steve Nash Fitness World and Steve Nash Sports Club, please visit www.fitnessworld.ca or www.stevenashsportsclub.com.

ABOUT ANGELO GORDON
Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages, with its affiliates, approximately $21 billion. Angelo Gordon seeks to generate absolute returns with low volatility by exploiting inefficiencies in selected markets and capitalizing on situations that are not in the mainstream of investment opportunities. www.angelogordon.com

ABOUT NEW EVOLUTION FITNESS
Based in Lafayette, California, the New Evolution Fitness Company (“NEFC”) team has a two-decade plus record of success delivering superior returns on investment in the acquisition, development, management and operation within the fitness industry both domestically and internationally. Founded in 2008 by Mark Mastrov and Jim Rowley, the current team of NEFC professionals represent over a century of experience working in a broad sector of health, wellness and fitness investments and operations.

About Partnership Capital Growth
Partnership Capital Growth is a San Francisco-based boutique investment bank that provides full-service merger and acquisition, financing and capital structure advisory services to middle market companies. The company focuses exclusively on consumer products and services in the areas of healthy, active and sustainable living. Partnership Capital Growth is based in San Francisco, California. www.pcg-advisors.com

Please feel free to contact Brian Smith at brian@pcg-advisors.com or Brent Knudsen at
brent@pcg-advisors.com to discuss this transaction.