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Medifast YTD Profits Exceed All of Last Year Revenues and Profits up Over 80%
Total Capital Increases by 1 Million in 6 Months
PRNewswire-FirstCall
OWINGS MILLS, Md.

Bradley T. MacDonald, Chairman of the Board of Medifast, Inc. (BULLETIN BOARD: MDFT) announces that, "10 QSB results are as follows: Revenue; 4.8 million, an 81% increase YTD, Margins increased to 65%, Profit from Operations up 87% YTD, Net Income reaches $936,000 up 116% YTD, Income attributable to shareholders is $891,000 up 134% YTD. The successful launch of `patent pending' Medifast Plus for Diabetics and the company's Physician Lifestyles Program supported by its teleweb operation is responsible for the improved performance of the company." The company significantly improved its total capital by 1 million dollars and improved its cash position by 100% in just 6 months.

The company's aggressive new product development program and its national advertising programs in Readers Digest, People Magazine, U.S. News and World Report and Parade have significantly increased revenues and margins during the first 6 months. Medifast has already surpassed last year's 12-month profit results in the first 6 months.

Chairman MacDonald says, "The market will eventually catch up with our superb operating results and profitability. We now meet the requirements for re-listing on the NASDAQ with the exception of stock price. The company has achieved 11 consecutive quarters of profitability and improved total capital or net equity by 4.5 million since October 1999. We are proud of the dedication and professionalism of the Medifast employees and management team, who have worked so diligently to achieve these results."

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.

CONTACT: Bradley T. MacDonald, Chairman & Chief Executive Officer of
Medifast, +1-410-581-8042, ext. 231

Web site: http://www.medifast.net/