Exhibit 99.1

Investor Contact: John Heller — 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 THIRD QUARTER 2010 FINANCIAL RESULTS
Company Reports Revenue Growth of 11.2% and Earnings Per Diluted Share of $0.57 for the Quarter

CHANHASSEN, Minn. (October 21, 2010) - Life Time Fitness, Inc. (NYSE: LTM) today reported its operating results for the third quarter ended September 30, 2010.

     Third quarter 2010 revenue grew 11.2% to $238.3 million from $214.3 million during the same period last year. Net income for the quarter was $23.4 million, or $0.57 per diluted share, versus $20.6 million, or $0.51 per diluted share, for 3Q 2009. For the nine months ended September 30, 2010, revenue grew 8.8% to $689.2 million from $633.3 million during the same period last year. Net income for the same period was $63.1 million, or $1.55 per diluted share, compared to $54.0 million, or $1.36 per diluted share, for the first nine months of 2009.

     “We are pleased with our third quarter financial results,” said Bahram Akradi, Life Time Fitness chairman, president and chief executive officer. “In particular, our strong in-center revenue and same center sales performance, and improvement in member retention, were driven by the continued investments we are making in our member connectivity initiatives and expanded program offerings. Moving forward, further differentiating and expanding our member value proposition will remain a key area of focus. This will occur through enhanced program and service offerings intended to increase member acquisition and retention within the challenged consumer environment we expect to see for the foreseeable future.”

     In August, the Company opened a new yoga and Pilates boutique in Minneapolis. Additionally, in December, the Company plans to open a large-format center in Centennial, Colorado, representing the third Life Time Fitness center in the Denver market.

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Life Time Fitness Third Quarter 2010 Results — Page 2

Three and Nine Months Ended September 30, 2010, Financial Highlights:
Total revenue for the third quarter grew 11.2% to $238.3 million. Total revenue for the first nine months of 2010 grew to $689.2 million from $633.3 million during the same period last year.

(Period-over-period growth)		3Q 2010 vs. 3Q 2009				YTD 2010 vs. YTD 2009
Membership dues			7.2	%			6.6	%
Enrollment fees			(8.1	%)			(5.4	%)
In-center revenue			17.5	%			13.9	%
Same-center revenue (13th month of operation)			6.6	%			4.7	%
Same-center revenue (37th month of operation)			4.0	%			1.6	%
Average center revenue / membership		$374 - up 4.4%				$1,113 - up 4.7%
Average in-center revenue / membership		$112 - up 11.9%				$335 - up 10.0%

Memberships increased 5.4% to 622,698 at September 30, 2010, from 590,716 at September 30, 2009.

Total operating expenses for 3Q 2010 were $192.7 million compared to $174.3 million for 3Q 2009. Year-to-date operating expenses totaled $563.0 million compared to $522.5 million for the same period last year.

Operating margin was 19.1% for 3Q 2010 compared to 18.7% in the prior-year period. Year-to-date operating margin was 18.3% compared to 17.5% in the prior-year period.

(Expense as a percent of total revenue)		3Q 2010				vs.				3Q 2009				YTD 2010				vs.				YTD 2009
Center operations			60.9	%		vs.					59.5	%			61.7	%		vs.					60.5	%
Advertising and marketing			2.6	%		vs.					2.7	%			2.7	%		vs.					3.2	%
General and administrative			4.5	%		vs.					4.5	%			4.7	%		vs.					5.2	%
Other operating			3.1	%		vs.					3.7	%			2.5	%		vs.					2.8	%
Depreciation and amortization			9.8	%		vs.					10.9	%			10.1	%		vs.					10.8	%

Net income for 3Q 2010 was $23.4 million compared to $20.6 million for 3Q 2009. For the nine months ended September 30, 2010, net income was $63.1 million compared to $54.0 million in the prior-year period.

EBITDA for 3Q 2010 grew 8.7% to $69.3 million from $63.7 million in 3Q 2009. Year-to-date EBITDA grew 9.2% to $196.4 million from $179.9 million during the same period last year.

Cash flows from operations for the first nine months of 2010 totaled $146.1 million compared to $138.6 million in the prior-year period.

Weighted average fully diluted shares for 3Q 2010 totaled 41.3 million compared to 40.3 million in 3Q 2009.

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Life Time Fitness Third Quarter 2010 Results — Page 3

Updated 2010 Business Outlook:
The following statements are based on the Company’s current expectations for fiscal year 2010 subject to the risks and uncertainties described below:

	•		Revenue is expected to be $900-910 million (up from $890-905 million), driven primarily by in-center revenue growth.
	•		Net income is expected to be $81.0-83.5 million (up from $79.0-81.0 million), driven by revenue growth.
	•		Diluted earnings per common share is expected to be $1.98-2.04 (up from $1.92-1.98).

          As announced on October 14, 2010, the Company will hold a conference call today at 10:00 a.m. ET to discuss its third quarter 2010 results. Bahram Akradi, chairman, president and chief executive officer, Michael Robinson, executive vice president and chief financial officer, and John Heller, senior director, investor relations and treasurer, will host the call. The conference call will be webcast live and may be accessed via the Company’s Investor Relations section of its website at lifetimefitness.com. A replay of the call will be available beginning at approximately 1:00 p.m. ET on October 21, 2010.

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About Life Time Fitness, Inc.

Life Time Fitness, Inc. (NYSE: LTM) is a healthy way of life company based in Chanhassen, Minnesota. The Company is dedicated to providing programs and services that help its members connect and engage with their areas of interest, and achieve success with their health and fitness goals. Life Time Fitness designs and operates distinctive, multi-use sports, professional fitness, family recreation and spa/resort centers that help members lead healthy and active lives. As of October 21, 2010, the Company operated 89 centers in 19 states and 24 markets. Additional information about Life Time Fitness centers, programs and services is available at www.lifetimefitness.com.

Risks and 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 attracting and retaining members, risks related to our debt levels and debt covenants, our ability to access existing credit facilities and obtain additional financing, strains on our business from continued growth, risks related to maintenance of our data, competition from other health and fitness centers, delays in opening new centers, identifying and acquiring suitable sites for new centers 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’s expectations for fiscal year 2010 exclude any unusual items that might occur during the fiscal year, such as legal matters or the potential recognition of compensation expense in association with the June 2009 grant of long-term performance-based restricted stock to the Company’s senior management team. The Company cautions investors not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date on which the 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.

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

		September 30,				December 31,
		2010				2009
		(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	33,502			$	6,282
Accounts receivable, net			5,453				4,026
Center operating supplies and inventories			15,766				14,621
Prepaid expenses and other current assets			14,423				12,938
Deferred membership origination costs			16,245				20,278
Deferred income taxes			942				660
Total current assets			86,331				58,805
PROPERTY AND EQUIPMENT, net			1,546,749				1,512,993
RESTRICTED CASH			2,052				2,941
DEFERRED MEMBERSHIP ORIGINATION COSTS			7,281				8,716
OTHER ASSETS			60,111				48,070
TOTAL ASSETS		$	1,702,524			$	1,631,525
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt		$	77,518			$	16,716
Accounts payable			14,014				14,429
Construction accounts payable			22,375				9,882
Accrued expenses			58,085				48,235
Deferred revenue			33,426				36,939
Total current liabilities			205,418				126,201
LONG-TERM DEBT, net of current portion			554,228				643,630
DEFERRED RENT LIABILITY			31,455				29,048
DEFERRED INCOME TAXES			81,656				77,189
DEFERRED REVENUE			7,314				8,819
OTHER LIABILITIES			9,523				9,207
Total liabilities			889,594				894,094
SHAREHOLDERS’ EQUITY:
Common stock			840				829
Additional paid-in capital			405,203				395,121
Retained earnings			407,193				344,095
Accumulated other comprehensive loss			(306	)			(2,614	)
Total shareholders’ equity			812,930				737,431
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	1,702,524			$	1,631,525

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

		For the								For the
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2010				2009				2010				2009
REVENUE:
Membership dues		$	155,288			$	144,832			$	453,332			$	425,070
Enrollment fees			6,078				6,617				18,577				19,630
In-center revenue			69,453				59,129				203,442				178,681
Total center revenue			230,819				210,578				675,351				623,381
Other revenue			7,493				3,742				13,820				9,922
Total revenue			238,312				214,320				689,171				633,303
OPERATING EXPENSES:
Center operations			145,205				127,468				424,940				383,313
Advertising and marketing			6,265				5,756				18,940				20,145
General and administrative			10,563				9,669				32,606				33,172
Other operating			7,289				8,017				17,146				17,791
Depreciation and amortization			23,402				23,428				69,385				68,127
Total operating expenses			192,724				174,338				563,017				522,548
Income from operations			45,588				39,982				126,154				110,755
OTHER INCOME (EXPENSE):
Interest expense, net			(6,792	)			(7,651	)			(21,806	)			(23,005	)
Equity in earnings of affiliate			302				316				906				985
Total other income (expense)			(6,490	)			(7,335	)			(20,900	)			(22,020	)
INCOME BEFORE INCOME TAXES			39,098				32,647				105,254				88,735
PROVISION FOR INCOME TAXES			15,720				12,014				42,156				34,728
NET INCOME		$	23,378			$	20,633			$	63,098			$	54,007
BASIC EARNINGS PER COMMON SHARE		$	0.59			$	0.52			$	1.59			$	1.38
DILUTED EARNINGS PER COMMON SHARE		$	0.57			$	0.51			$	1.55			$	1.36
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — BASIC			39,932				39,410				39,597				39,221
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — DILUTED			41,260				40,255				40,783				39,687

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

		For the
		Nine Months Ended
		September 30,
		2010				2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	63,098			$	54,007
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			69,385				68,127
Deferred income taxes			(1,100	)			6,957
Loss on disposal of property and equipment, net			979				818
Gain on sale of land held for sale			(527	)			(873	)
Amortization of deferred financing costs			2,024				1,925
Share-based compensation			5,412				5,907
Excess tax benefit related to share-based payment arrangements			(1,697	)			(433	)
Equity in earnings of affiliate			(906	)			(985	)
Dividend received from equity investment			350				350
Changes in operating assets and liabilities			8,930				1,650
Other			199				1,101
Net cash provided by operating activities			146,147				138,551
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment			(86,132	)			(116,853	)
Acquisitions, net of cash acquired			(14,378	)			—
Proceeds from sale of property and equipment			721				8
Proceeds from sale of land held for sale			1,019				1,327
Increase in other assets			(578	)			(213	)
Decrease in restricted cash			889				151
Net cash used in investing activities			(98,459	)			(115,580	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings			—				7,813
Repayments of long-term borrowings			(38,067	)			(7,755	)
Proceeds from (repayments of) revolving credit facility, net			12,500				(27,600	)
Increase in deferred financing costs			(258	)			(745	)
Excess tax benefit related to share-based payment arrangements			1,697				433
Proceeds from exercise of stock options			3,660				2,191
Net cash used in financing activities			(20,468	)			(25,663	)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			27,220				(2,692	)
CASH AND CASH EQUIVALENTS — Beginning of period			6,282				10,829
CASH AND CASH EQUIVALENTS — End of period		$	33,502			$	8,137

Non-GAAP Financial Measures

          This release and the related conference call disclose certain non-GAAP financial measures.

EBITDA. Earnings Before Interest, Income Taxes and Depreciation and Amortization (EBITDA) is a non-GAAP disclosure consisting 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, net cash 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 EBITDA
(In thousands)
(Unaudited)

		For the Three Months Ended								For the Nine Months Ended
		September 30,								September 30,
		2010				2009				2010				2009
Net income		$	23,378			$	20,633			$	63,098			$	54,007
Interest expense, net			6,792				7,651				21,806				23,005
Provision for income taxes			15,720				12,014				42,156				34,728
Depreciation and amortization			23,402				23,428				69,385				68,127
EBITDA		$	69,292			$	63,726			$	196,445			$	179,867

Free Cash Flow. Free cash flow is a non-GAAP measure consisting of net cash provided by operating activities, less purchases of property and equipment. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and does not represent the total increase or decrease in the cash balance presented in accordance with GAAP. The Company uses free cash flow as a measure of cash generated after spending on property and equipment. Free cash flow should not be considered as a substitute for net cash provided by operating activities prepared in accordance with GAAP. Additional details related to free cash flow 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 cash provided by operating activities, the most directly comparable GAAP measure, to free cash flow:

RECONCILIATION OF NET CASH PROVIDED BY
OPERATING ACTIVITIES TO FREE CASH FLOW
(In thousands)
(Unaudited)

		For the Three Months Ended								For the Nine Months Ended
		September 30,								September 30,
		2010				2009				2010				2009
Net cash provided by operating activities		$	45,439			$	40,267			$	146,147			$	138,551
Less: Purchases of property and equipment			(37,968	)			(25,128	)			(86,132	)			(116,853	)
Free cash flow		$	7,471			$	15,139			$	60,015			$	21,698