Source: Star Trac Star Trac(R) Reorganization Fueled by MichaelBruno AcquisitionIRVINE, Calif., July 7, 2010 (GLOBE NEWSWIRE) — Star Trac, aglobal leader in the commercial fitness industry, announced today thatMichael Bruno and Star Trac have signed an agreement wherebyBruno will purchase the controlling interest in Star Trac’s parentcompany. This will strengthen the company’s ability to provide theproduct innovation, quality, reliability and customer service that havebeen the Star Trac brand legacy since 1988. The parties expect toclose within two business days. Financial terms of the acquisition havenot been disclosed.Bruno, a highly respected fitness industry veteran for more than 20years, also has holdings that include Stairmaster based in Vancouver,Washington and Land America, a manufacturing firm in China thatbuilds high-end consumer and commercial fitness equipment. Hisreorganization plan for Star Trac focuses on company continuity andaggressive streamlining.”Our activities will create the foundation for the company to experiencestrong growth and profitability,” Bruno said. “This reorganizationprovides the resources for a strong balance sheet and positions StarTrac for long-term success.”Star Trac is already recognized as a technology leader in the fitnessindustry, offering the very best in high performance cardiovascular andstrength training equipment. The stability created by thisreorganization allows the company to continue providing customerswith market leading innovation and high quality service, directed by a strong management team led by President and COOMike Leveque, a 17 year Star Trac veteran.”Becoming a part of Bruno’s growing family of fitness companies is a tremendous opportunity for Star Trac,” Leveque said.”His other companies and Star Trac share a strong belief in serving customer needs, and Bruno is committed to supportingthe ongoing product innovation investments that are critical for Star Trac to maintain its global leadership position.”Star Trac will maintain its deep commitment to innovation and customer service. With the consolidation of U.S. operationsto one Southern California location, the company will improve efficiencies and communication that will allow them to betterserve their customers as a stronger company emerges