Chameleon Gym: One of Five Finalists

SAN JUAN, Puerto Rico, Feb. 15 -- Marco Rexach, founder and President of Chameleon Fitness Systems, Inc., announced that the Chameleon Gym has been selected by fitness equipment buyers and consumers as one of five finalists of the NASDAQ Sports Product of the Year 2001 contest. More than 200 new sports products were entered in the contest. Voting was conducted by trade buyers, and finalists were subsequently announced at the 2001 Super Show, the world's largest sporting goods trade show.
The Chameleon Gym is a highly versatile professional weight-stack gym that encompasses six fundamental exercise categories. Together, these exercise categories are the foundation of any rigorous training program comprising independent bilateral exercises, machine-guided exercises, body-weight exercises, functional training, aerobics (treadmill) and stretching.

The Chameleon Gym, when enclosed within its "armoire" (or closet-like) structure, occupies a mere 7.8 sq. ft of corner space, which is only 12% of the space required by the average high-end home gym. Its full-sized front mirrors create a visual illusion of a larger room. The front doors of the machine can be custom designed to blend with its surroundings, whether a family room, office space, living room or bedroom. Unlike most other gym systems, the Chameleon Gym does not conflict or clash with its surroundings; to the contrary, it becomes part of it. This gym offers triple (150) the number of exercises of other high-end home gyms.

Chameleon Fitness Systems, Inc., is seeking US$1.5 million of seed capital. Production is expected to begin by the end of summer, with sales and deliveries commencing during the fourth quarter of this year. Net sales are projected to increase from $1.0 million in the first year of operations to $6.7 million in the fifth year. The estimated retail price of each unit will range from $5,000 - $6,000, depending on the equipment selected. Targeted markets for the system are homes, specialty fitness equipment stores, fitness facilities and health clubs.

The Chameleon Gym is a high-end, commercial-quality system that coexists with its environment. Its versatility and rapid conversion from a full-sized gym to an attractive piece of furniture are unique characteristics welcomed by the end user. Both men and women will feel very comfortable with the Chameleon Gym, significantly increasing its continued and productive use.

"The unit was first exhibited last month in Las Vegas at the Super Show, attended by 80,000 sporting goods industry buyers, suppliers and manufacturers. The worldwide acceptance and approval of this patented invention was inspiring," indicated a pleased Mr. Rexach.

For additional information please visit: http://www.chameleongym.net

SOURCE Chameleon Fitness Systems, Inc.
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