Life Time Fitness 8-K Results of Operations and Financial Condition

Exhibit 99.1

Investor Contact: Ken Cooper — 952-229-7427 or ir@lifetimefitness.com

Media Contact: Jason Thunstrom — 952-229-7435 or pr@lifetimefitness.com

FOR IMMEDIATE RELEASE

LIFE TIME FITNESS ANNOUNCES FOURTH QUARTER AND
FULL-YEAR 2007 FINANCIAL RESULTS
Company Reports Revenue Growth of 22.8% and Earnings Per Share of $0.48 for the Quarter; Full-Year
Revenue Grew 28.1% and Earnings Per Share was $1.78

CHANHASSEN, Minn. (February 22, 2008)— Life Time Fitness, Inc. (NYSE: LTM) today reported its operating results for the fourth quarter and full year ended December 31, 2007.

     Fourth quarter 2007 revenue grew 22.8% to $171.1 million from $139.3 million during the same period last year. Revenue for the year totaled $655.8 million, up 28.1% from $511.9 million in 2006.

     Net income during the quarter grew 35.0% to $19.1 million, or $0.48 per diluted share. This compares to net income of $14.1 million, or $0.38 per diluted share, for 4Q 2006. For the full year, net income grew 34.5% to $68.0 million, or $1.78 per diluted share, from $50.6 million, or $1.37 per diluted share, for 2006.

     “Life Time Fitness continued to achieve its operational and financial objectives in 2007,” said Bahram Akradi, chairman and chief executive officer. “Our strong value proposition and unwavering commitment to deliver the highest possible quality services, programs and products, and unparalleled member experience, led to yet another outstanding year. Looking ahead in 2008, we remain confident in our differentiated and disciplined business model. In light of the current challenging economic environment, we continue to adapt, focusing on enhancing the member experience and optimizing membership levels at our centers, while implementing ongoing operational and product improvements. We have extended our planned openings in 2008 to 11, including expansion into higher income demographic areas and three new states. With our steadfast focus on member service and experience, we also will continue to invest in our existing centers, amenities and services, nutritional products and expanded corporate wellness programs, and our rigorous employee training and certification initiatives.”

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Life Time Fitness Fourth Quarter and Full-Year 2007 Results — Page 2

     Life Time Fitness continued its expansion efforts during the fourth quarter with openings in Austin, Texas, Sugarloaf, Georgia (Atlanta-area), and San Antonio, Texas, representing the company’s second location in each of these markets. Additionally, in January 2008, Life Time Fitness opened its first Colorado center in Parker (Denver-area).

     Memberships grew 12.5% in 2007 to 499,092.

Three and Twelve Months Ended December 31, 2007, Financial Highlights:
Total revenuefor the fourth quarter grew 22.8% to $171.1 million, driven primarily by growth in membership dues and in-center revenue. Total revenue for the full year grew to $655.8 million from $511.9 million in 2006.

(Period-over-period growth)		4Q 2007 vs. 4Q 2006			2007 vs. 2006
·	Membership dues		21.9	%		27.8	%
·	Enrollment fees		8.0	%		10.3	%
·	In-center revenue		25.1	%		31.7	%
·	Same-center revenue		5.3	%		6.1	%
·	Average center revenue / membership	$344 — up 6.8%			$1,360 — up 6.2%
·	Average in-center revenue / membership	$93 — up 9.4%			$387 — up 9.1%

Total operating expensesduring 4Q 2007 totaled $133.5 million compared to $111.3 million for 4Q 2006 and full-year operating expenses were $518.4 million, compared with $411.4 million in 2006, driven primarily by increased expenses to support new centers, membership ramp, and in-center revenue growth.

Operating margin was 22.0% for 4Q 2007, compared to 20.1% in the prior-year period. Full-year operating margin was 21.0%, compared to 19.6% in 2006.

(Expense as a percent of total revenue)		4Q 2007 vs. 4Q 2006	2007 vs. 2006
·	Center operations	56.1% vs. 58.1%	57.5% vs. 57.1%
·	Advertising and marketing	4.0% vs. 3.8%	3.8% vs. 4.1%
·	General and administrative	5.8% vs. 6.7 %	6.2% vs. 7.4%
·	Other operating	2.9% vs. 2.5%	2.5% vs. 2.5%
·	Depreciation and amortization	9.2% vs. 8.7%	9.0% vs. 9.3%

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Life Time Fitness Fourth Quarter and Full-Year 2007 Results — Page 3

Net incomeduring 4Q 2007 grew 35.0% to $19.1 million from $14.1 million in 4Q 2006, and full-year net income grew 34.5% to $68.0 million from $50.6 million in 2006, driven by continued top-line growth.

• Net income margin for 4Q 2007 was 11.1% compared with 10.1% in 4Q 2006. Net income margin in 2007 was 10.4% compared with 9.9% in 2006.

• The effective income tax rate for 2007 was 39.9%, the same rate reported for 2006.

EBITDAfor 4Q 2007 grew 32.8% to $53.7 million from $40.4 million in 4Q 2006. Full-year EBITDA grew 32.7% to $197.7 million from $149.0 million in 2006.

• As a percentage of total revenue, EBITDA was 31.4% in 4Q 2007, compared to 29.0% in 4Q 2006.

• EBITDA margin in 2007 was 30.1% compared to 29.1% in 2006.

Cash flows from operationsfor the full year grew 13.0% to $142.2 million from $125.9 million in 2006.

Weighted average diluted sharesfor 4Q 2007 totaled 39.5 million compared to 37.3 million shares in 4Q 2006. For the full year, weighted average diluted shares totaled 38.1 million compared with 36.8 million in 2006.

2008 Business Outlook:
The following statements are based on the Company’s current expectations for calendar year 2008 and subject to the risks and uncertainties described below:

• Revenue is expected to be $780-$800 million (or approximately 19-22% growth). This year-over-year increase is driven primarily by new center growth, membership ramp at new and existing centers, and in-center revenue growth.

• Net income is expected to be $81.5-$83.0 million (or approximately 20-22% growth). This year-over-year increase is driven primarily by our growth strategies.

• Diluted earnings per common share is expected to be $2.05-$2.08 (or approximately 15-17% growth).

     As announced on February 7, 2008, the Company will hold a conference call today at 10:00 a.m. ET to discuss its fourth quarter and full-year 2007 results. Bahram Akradi, chairman and chief executive officer, Michael Robinson, executive vice president and chief financial officer, and Kenneth Cooper, senior director of Finance, will host the conference call. The conference call will be Web cast and may be accessed via the Company’s Investor Relations section of its Web site atlifetimefitness.com. A replay of the call will be available the same day via the Company’s Web site beginning at approximately 1:00 p.m. ET.

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Life Time Fitness Fourth Quarter and Full-Year 2007 Results — Page 4

About Life Time Fitness, Inc.
Life Time Fitness, Inc. (NYSE:LTM) operates distinctive and large, multi-use sports and athletic, professional fitness, family recreation and resort and spa centers. The company also provides consumers with personal training consultation, full-service spas and cafes, corporate wellness programs, health and nutrition education, the healthy lifestyle magazine, Experience Life, athletic events, and nutritional products. As of February 22, 2008, Life Time Fitness operated 71 centers in 16 states, including Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, Minnesota, Nebraska, North Carolina, Ohio, Texas, Utah and Virginia. The Company also operated one satellite facility and five preview locations in existing and new markets. Life Time Fitness is headquartered in Chanhassen, Minnesota, and can be located on the Web at www.lifetimefitness.com. LIFE TIME FITNESS, the LIFE TIME FITNESS logo, EXPERIENCE LIFE, and the LIFE TIME FITNESS TRIATHLON SERIES are registered trademarks of Life Time Fitness, Inc. All other trademarks or registered trademarks are the property of their respective owners.

Risks & Uncertainties
Certain information contained in this press release may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause the Company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. Among these factors are identifying and acquiring suitable sites for new sports, fitness and family recreation centers, opening new sports, fitness and family recreation centers, attracting and retaining members, obtaining additional financing and other factors set forth in the Company’s filings with the Securities and Exchange Commission. Diluted earnings per share could also be affected by the number of shares outstanding, which depends on factors such as the number of shares issued upon exercise of stock options and future grants of awards pursuant to equity-based incentive plans as well as stock offerings. The Company cautions investors not to place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update such statement to reflect events or circumstances arising after such date.

     All remarks made during the Company’s financial results conference call will be current at the time of the call and the Company undertakes no obligation to update the replay.

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LIFE TIME FITNESS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

	December 31, 2007			December 31, 2006
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	5,354		$	6,880
Accounts receivable, net		4,475			2,320
Inventories		14,324			8,773
Prepaid expenses and other current assets		15,963			9,201
Deferred membership origination costs		16,205			12,575
Deferred tax asset		1,188			—
Income tax receivable		5,814			97
Total current assets		63,323			39,846
PROPERTY AND EQUIPMENT, net		1,259,271			902,122
RESTRICTED CASH		6,767			4,738
DEFERRED MEMBERSHIP ORIGINATION COSTS		14,367			10,875
OTHER ASSETS		42,805			30,095
TOTAL ASSETS	$	1,386,533		$	987,676
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt	$	9,568		$	15,228
Accounts payable		12,872			8,878
Construction accounts payable		59,261			49,285
Accrued expenses		47,052			37,191
Deferred revenue		34,851			29,773
Total current liabilities		163,604			140,355
LONG-TERM DEBT, net of current portion		555,037			374,327
DEFERRED RENT LIABILITY		25,526			25,716
DEFERRED INCOME TAXES		38,607			38,584
DEFERRED REVENUE		17,529			15,917
OTHER LIABILITIES		13,673			264
Total liabilities		813,976			595,163
SHAREHOLDERS’ EQUITY:
Common stock		783			737
Additional paid-in capital		373,910			259,905
Retained earnings		199,890			131,871
Accumulated other comprehensive loss		(2,026	)		—
Total shareholders’ equity		572,557			392,513
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,386,533		$	987,676

LIFE TIME FITNESS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except per share data)
(Unaudited)

	For the						For the
	Three Months Ended						Year Ended
	December 31,						December 31,
	2007			2006			2007			2006
REVENUE:
Membership dues	$	115,199		$	94,500		$	434,138		$	339,623
Enrollment fees		6,176			5,721			24,741			22,438
In-center revenue		44,910			35,892			182,215			138,332
Total center revenue		166,285			136,113			641,094			500,393
Other revenue		4,813			3,163			14,692			11,504
Total revenue		171,098			139,276			655,786			511,897
OPERATING EXPENSES:
Center operations		96,082			80,929			377,235			292,273
Advertising and marketing		6,800			5,266			24,967			20,770
General and administrative		9,889			9,376			40,820			37,781
Other operating		4,969			3,507			16,340			12,998
Depreciation and amortization		15,732			12,179			59,014			47,560
Total operating expenses		133,472			111,257			518,376			411,382
Income from operations		37,626			28,019			137,410			100,515
OTHER INCOME (EXPENSE):
Interest expense, net		(6,411	)		(4,895	)		(25,443	)		(17,356	)
Equity in earnings of affiliate		355			237			1,272			919
Total other income (expense)		(6,056	)		(4,658	)		(24,171	)		(16,437	)
INCOME BEFORE INCOME TAXES		31,570			23,361			113,239			84,078
PROVISION FOR INCOME TAXES		12,520			9,253			45,220			33,513
NET INCOME	$	19,050		$	14,108		$	68,019		$	50,565
BASIC EARNINGS PER COMMON SHARE	$	0.49		$	0.39		$	1.81		$	1.40
DILUTED EARNINGS PER COMMON SHARE	$	0.48		$	0.38		$	1.78		$	1.37
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING- BASIC		38,821			36,448			37,518			36,118
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING- DILUTED		39,529			37,285			38,127			36,779

LIFE TIME FITNESS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

	For the
	Year Ended
	December 31,
	2007			2006
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	68,019		$	50,565
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		59,014			47,560
Deferred income taxes		11,505			3,165
Loss on disposal of property and equipment, net		354			946
Amortization of deferred financing costs		853			696
Share-based compensation		7,746			7,556
Excess tax benefit from stock option exercises		(4,605	)		(10,229	)
Changes in operating assets and liabilities		(544	)		25,425
Other		(136	)		168
Net cash provided by operating activities		142,206			125,852
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(415,822	)		(261,767	)
Proceeds from sale of property and equipment		5,054			6,629
Proceeds from property insurance settlement		78			581
Increase in other assets		(4,488	)		(7,803	)
Increase in restricted cash		(2,029	)		(823	)
Net cash used in investing activities		(417,207	)		(263,183	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings		113,455			—
Repayments on long-term borrowings		(11,181	)		(19,120	)
Proceeds from revolving credit facility, net		67,800			134,000
Increase in deferred financing cost		(2,160	)		(842	)
Proceeds from common stock offering, net of underwriting discount and offering costs		92,502			—
Excess tax benefit from stock options exercises		4,605			10,229
Proceeds from exercise of stock options		8,454			15,264
Net cash provided by financing activities		273,475			139,531
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,526	)		2,200
CASH AND CASH EQUIVALENTS — Beginning of period		6,880			4,680
CASH AND CASH EQUIVALENTS — End of period	$	5,354		$	6,880
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash payments for interest, including capitalized interest	$	30,621		$	22,183
Cash payments for income taxes	$	33,746		$	17,005
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Property purchase financed through note payable	$	95		$	1,620
Property purchase financed through capital lease obligation	$	1,445		$	—
Purchases of property and equipment in accounts payable	$	10,218		$	22,594

Non-GAAP Financial Measures

     This release contains a non-GAAP disclosure, EBITDA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBITDA as a measure of operating performance. The funds depicted by EBITDA are not necessarily available for discretionary use if they are reserved for particular capital purposes, to maintain compliance with debt covenants, to service debt or to pay taxes. EBITDA should not be considered as a substitute for net income, cash flows provided by operating activities or other income or cash flow data prepared in accordance with GAAP. Additional details related to EBITDA are provided in the Form 8-K that the Company filed with the Securities and Exchange Commission on the date of this press release.

     The following table provides a reconciliation of net income, the most directly comparable GAAP measure, to EBITDA:

RECONCILIATION OF NET INCOME TO EARNINGS BEFORE INTEREST,
INCOME TAXES AND DEPRECIATION AND AMORTIZATION
(In thousands)
(Unaudited)

	For the				For the
	Three Months Ended				Year Ended
	December 31,				December 31,
	2007		2006		2007		2006
Net income	$	19,050	$	14,108	$	68,019	$	50,565
Interest expense, net		6,411		4,895		25,443		17,356
Provision for income taxes		12,520		9,253		45,220		33,513
Depreciation and amortization		15,732		12,179		59,014		47,560
EBITDA	$	53,713	$	40,435	$	197,696	$	148,994