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Every day, more lives are transformed all over the world – one healthy habit at a time. Read the latest about how Medifast and the OPTAVIA® movement is impacting people’s lives.

Medifast Revenues YTD Up 90% Through August; Joint Venture with Elegant World, Indonesia Consummated; Take Shape for Life, Inc. Subsidiary Develops Revolutionary Health Network and Hires CEO and Executive Vice President; Mortgage Banking Executive Elected
PRNewswire-FirstCall
OWINGS MILLS, Md.

Chairman of the Board and CEO, Bradley T. MacDonald is pleased to announce that, "Medifast Revenues are up 90% YTD through August 30, 2002, primarily because of successful consumer advertising program driving Medifast patients to their primary care physicians and bariatric specialists. Medifast's Physician Lifestyles Program participation and patient activity is at the highest level since 1992. The Company's unique formulations and positioning as a weight and disease management product and program has created new sales and marketing opportunities for the company."

The company is pleased to announce a strategic joint venture with Elegant World SDN BHD (Elken) of Indonesia in which Medifast (BULLETIN BOARD: MDFT) will manufacture its "Take Shape" weight management products and programs for the Asian Market. The Company recently received its first large order to be delivered prior to year-end.

Medifast's Take Shape for Life, Inc., subsidiary has hired Mr. Rick Logsdail, a fifteen-year veteran of corporate and investment banking with the Royal Bank of Canada and CIBC of Canada, as President and Chief Operating Officer. The Company has also hired Mr. Dan Bell, who has over 25 years Sales and Marketing experience with Pangea, a nutritional and skincare company and Head of Sales of HandTech, a computer technology company, as the Executive Vice President of Sales and Marketing.

Take Shape for Life, Inc., is a start up Health Network of over 40 physicians and medical professionals with a network of over 200 certified health advisors providing physician supervised weight and disease management and fitness programs to major clinics, corporations, HMO's, and individuals while supporting the primary care physician and their patients. A Health Institute of top-notch medical practitioners led by Dr. Wayne Andersen directs this virtual clinic. In its first month of business the company generated over $350,000 in program revenues while successfully advising and counseling over 1,000 patients using "Take Shape" weight management products.

Chairman MacDonald is pleased to announce the unanimous election of Mary Travis, a distinguished Mortgage Banking Executive and Senior Vice President of Sunrise Mortgage Company of Delaware County, Pennsylvania. Mary will join the audit committee of the Board as an "Independent Director" assisting the Company in meeting the requirements of the NASDAQ or AMEX exchange listing requirements. Mr. Michael C. MacDonald, President of Xerox North American Solutions Group, has resigned from the audit committee but will remain on the executive committee of the Board continuing to provide strategic insight and leadership to the Board of Directors.

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