Fitness industry 'heavyweights' sign strategic partnership to kick-start the transformation of the fitness industry in Germany, Austria and Switzerland

Dynamic Life SA (Athens Stock Exchange, ASE: Dyn), a unique company that engineers operating systems and develops membership programs for the fitness industry, and Bonsport GmbH, a leading German provider of fitness products and services, team up in a landmark deal that initiates their collaboration in the German, Austrian and Swiss fitness markets.

Dynamic Life's wholly owned subsidiary "The Being Best Global AllianceΤΜ Ltd.' based in Dublin, Ireland and 'CS Club Support GmbH' a wholly owned subsidiary of Bonsport GmbH have signed an agreement that carries an initial ten-year duration and authorizes CS Club Support GmbH to monitor, assess, select and train the health and fitness clubs that will become the affiliates for the application of Dynamic Life's unique product, Being BestTM.

Dynamic Life has developed Being BestTM -a paradigm shift- that creates new standards for the fitness industry and carries the market forward to the next generation of fitness memberships.

The Being Best Global AllianceΤΜ is solely dedicated to the growth and fulfillment of the Being BestTM promise worldwide and this agreement marks the beginning of the creation of its international network. The Being Best Global AllianceΤΜ's mission is to unite the world's leading health and fitness clubs and leisure providers on a platform that enables each affiliated club to provide to its members premium integrated fitness and leisure services that are enjoyed consistently, effortlessly and flexibly anyw here, anyway and anytime within its international network.

The German, Austrian and Swiss markets total EUR 3 billion in annual membership sales, a further EUR 3 billion in annual additional in-club-sales and employ 180.000 people. There are 6.600 clubs in the region and Being BestTM will endorse 10% of them (approx. 660 clubs). Being BestTM will change the way people feel about fitness in a territory where fitness club ex-members outnumber present members 3 to 1- and can raise turnover in selected clubs by 430 Million Euros annually when fully deployed, whilst finally providing the service members are searching for.

'This is the launch pad of our international expansion and proliferation of the application of our systems, products and services. Germany, Austria and Switzerland are important regions and we consider them a significant pillar of our strategic expansion and international investment for 2004.' said Natasha Bougiatioti, CEO, Dynamic Life S.A.

Bonsport GmbH has founded CS Club Support GmbH to offer and apply Dynamic Life's international product, Being BestΤΜ, in Germany, Austria and Switzerland. The founding team consists of dedicated specialists who have vast experience and have screened the market to make the selection of the health and fitness clubs that will become part of The Being Best Global AllianceΤΜ, Dynamic Life's international network of affiliated clubs. CS Club Support GmbH will act as a Being BestΤΜ 'Country Operator' that will ha ndle Dynamic Life's international product and brand in the specific markets.

'We are very glad that our negotiations with Dynamic Life had a successful conclusion. More than 15 million fitness club members have cancelled their memberships within the last 10 years. Our aim is to attract 15% of these ex-members back to our Being BestΤΜ fitness clubs. Being BestΤΜ is a unique and unprecedented integration of fitness and leisure and its application in the German, Austrian and Swiss fitness markets needs exactly what we have agreed on with Dynamic Life: a very strong partnership between regional experts and a global player', said Volker Ebener, CEO of Bonsport GmbH.

Bonsport GmbH is a leading company in the German, Austrian and Swiss fitness markets and is a premier distributor and licensor of fitness products to end users, club members, and fitness clubs. Their product lines already include two leading global brands, Reebok Fitness and Les Mills.

'We have selected Bonsport GmbH as the strategic partner in those regional markets having assessed that the optimal strategy would be to create a synergy with the top key players in those given markets. They are the catalysts of the fitness industry in those regions and they have assembled a team of local experts who have evaluated our product and have recognized its tremendous impact potential for the fitness industry', commented Jan Lokhorst, Managing Director, International, Dynamic Life S.A.

CS Club Support GmbH will oversee the process and will ensure that health and fitness club employees are trained according to the Being BestΤΜ standards and that Being BestΤΜ is made available only to the clubs that meet the prerequisites and possess the relevant infrastructure for product's application and member satisfaction.

Christian Schmiing, Managing Director, Bonsport GmbH & CEO, CS Club Support GmbH commented: 'Being BestΤΜ' is the evolution of the fitness industry. It breaks the rules and existing ways of doing business in a revolutionary way, leaving all competitors that follow the old paradigm out of the market. We are in a position to safeguard this unique product and fortify it in the largest fitness market in number of clubs and the second largest in turnover in the EU. We are happy to be the ones to be introducing this innovation that shifts the market in the direction of increased consumer rights and personalization.'

About Dynamic Life SA (ASE: Dyn)

Dynamic Life, founded in Greece in 1996, engineers operating systems and develops membership programs for the fitness industry. Dynamic Life is constantly monitoring consumer needs, researching markets, developing innovative systems, creating brands, producing content and proprietary media, building software, providing training and education and offering customer care in its quest to serve the industry. Its systems are exclusively delivered through its subsidiary, The Being Best Global AllianceΤΜ Ltd. bas ed in Ireland that provides an extensive and sophisticated infrastructure to support member interaction with Being BestΤΜ. Dynamic Life has operated in Greece a network of 120 clubs that has served as a test bed for its international expansion.

Dynamic Life S.A., listed on the Athens Stock Exchange (ASE), is one of the few fitness companies to be listed in any stock exchange worldwide and the only one with immense growth over the last year. Its current market capitalization stands at EUR 172.7 million (9/1/2004).

The investment program for the period 2001-2004 totals EUR 14.7 million of which EUR 4.7 million are budgeted for ERP infrastructure.

About Bonsport GmbH

Bonsport GmbH, a long-standing and leading company in the German/Austrian/Swiss fitness markets, concentrates on distribution and licensing of fitness products to end users, club members, and fitness clubs. Amongst the product lines that Bonsport GmbH handles are Reebok Fitness and Les Mills. Bonsport GmbH founded CS Club Support GmbH as a separate entity with the sole mission to be the Being BestΤΜ Country Operator in order to assure that a dedicated team of specialists is concentrated on deploying Being BestΤΜ in the German, Austrian and Swiss markets and that other Bonsport products will not interfere with Being BestΤΜ.

For further details, please contact:

Thomas Antoniadis

Critical Publics London

Email: Thomas@criticalpublics.com

Tel: +44 (0) 20 7395 4050

Fax: +44 (0) 20 7240 9786

Biographical Notes

About Natasha Bougiatioti, CEO, Dynamic Life S.A.

The architect of the development of Dynamic Life, one of the founders and CEO of the company. A Greek-American, born in 1962. Graduate of the University of North Carolina with a degree in economics. Comes from a banking background and has been active in the fitness industry as an entrepreneur since 1985. During her long and successful tenure in the fitness industry, she invented and described in detailed manuals an innovative system called the "Club by Natasha" that was awarded intellectual property rights in 1992.

Since then, she published new editions of the system as it was constantly improved to keep up to date with evolving market conditions. Her latest invention -the innovative Being BestTM system- is a major breakthrough that is described in an extensive selection of manuals called the 'Omnibook' that were intellectually copyrighted in the beginning of 2003.

About Volker Ebener, CEO, Bonsport GmbH

Born in 1944 in Germany. Studied law in Cologne and went on to open his first sports school in 1970. Has opened another 5 more multifunctional fitness clubs. Participant of the 1972 Munich Olympics as a member of the German Judo national team, 9 times winner of the German Judo Championship and runner up of the European Judo Championship. Founder of FIBO, the world's largest fitness fair, based in Essen, Germany which hosts more than 400 traders and attracts more than 80.000 visitors. Since 1988, founder a nd member of the managing committee of Europe's largest federation for Aerobics and Fitness - DFAV e.V. (Deutscher Fitness und Aerobic Verband) and since 1992 DFAV's President. Lifelong member of the Executive Board of FISAF (renowned world association for Aerobic and Fitness based in Sydney, Australia). Founder of YOU, the world's largest youth fair in Dortmund/Germany, founder and chief editor of the "Aerobic & Fitness - afi" magazine, counsel to the private fair organization Miller Freeman AG/Dusseldorf and counsel to Reebok Germany and Managing Director of Karstadt Fitness, a subsidiary of Karstadt, Europe's largest retailer.