Press Releases

Bradley T. MacDonald, Chairman of the board of Medifast, Inc. (BULLETIN BOARD: MDFT) announces that revenues for the first quarter increased by 37% approaching $2 million. "Medifast's advertising and sales strategies have produced substantial revenue increases for the company," says MacDonald. "Also, a strategic partner, Health Inventions, Inc., a physician network marketing clinic, exceeded its forecasts for the first quarter." MacDonald praised their "patient support services and consultants who have created a unique disease management model combating obesity."

Recognizing obesity as a disease, the IRS says it will begin allowing taxpayers to claim weight loss expenses as a medical deduction. The IRS ruling could pave the way for insurance companies and such government programs, such as Medicare, to offer coverage for clinical obesity treatments. Medifast, your physician's answer to weight control, is a leading provider of medical meal replacement products and programs to physicians across the United States.

Medifast will launch a complete nutrition and meal replacement program for diabetics called "Medifast Plus for Diabetics." For over twenty years, Medifast has been helping people lose weight and change their lives. Medifast has joined the fight to reduce the incidences of diabetes with this revolutionary line of products. The line of new products will feature: three exciting new shakes, specially formulated for diabetics, in chocolate, vanilla, and strawberry; Hearty Oatmeal; Homestyle Chili; Chicken Noodle Soup; Cream of Broccoli Soup; Cream of Chicken Soup; Medifast Ready-to-Drink packaged in a convenient juice box, available in chocolate and vanilla; and coming soon, Medifast Plus for Diabetics Protein Bars available in chocolate and peanut butter.

The nutritional profile of the Medifast Plus for Diabetics line will feature soy based products that are low in sugar, low in calories, low in fat, low in cholesterol, and low glycemic. The Medifast Plus for Diabetics line is kosher, great tasting, and enriched with 24 essential vitamins and minerals including soluble fiber, sodium and potassium. The products are also heart healthy as approved by the FDA, containing at least 6.25 grams of soy protein per serving.

An estimated 20 million diabetics are potential customers of this line of products, which will require medical supervision. A dynamic national advertising campaign is scheduled for May 2002 featuring ads in Parade Magazine, Readers Digest, and National Enquirer. Medifast for Diabetics will also be promoted to physician and clinical customers via Physician Marketplace magazine, direct mail, and radio. This line of patent pending formulas and nutritional profiles is expected to double the revenues of Medifast over the next years.

This release contains forward-looking statements, which may involve known, and unknown risks, uncertainties and other factors that may cause Medifast's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Medifast cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectation on this date.

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SOURCE: Medifast, Inc.