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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 Is Awesome Baby! Profit From Operations Up 156% YTD; Net Income Up 340% YTD; Coach Dick Vitale Joins Medifast Team!
PRNewswire-FirstCall
OWINGS MILLS, Md.

Chairman of the Board, Bradley T. MacDonald, is pleased to announce that coach and celebrity sportscaster Dick Vitale has joined the Medifast (BULLETIN BOARD: MDFT) team to assist in promoting a healthy lifestyle using Medifast weight and disease management and clinical sports nutrition products. Dick Vitale will participate in a comprehensive advertising and promotional campaign for the next three years, which will highlight his persuasive skills to convince Americans to lose weight and get in shape using "The Physician's Answer to Weight Management" Medifast medical meal replacement products. The campaign theme will be "You Lose Weight and You Win with Medifast," and will be advertised via national print, radio and television over the next three years.

Chairman MacDonald also announced record operating results for Medifast, Inc. for the third quarter and 9 months YTD. The Company reported in the 10-QSB, Net Profit From Operations was 1.7 MM, up $1.1 MM (156%) from the same period last year, Net Income was 2.5 MM, up 1.9 MM (340%) from the same period last year and Basic Earnings Per Share of $0.36 YTD and Fully Diluted $0.29 a share respectively. The tax asset is 957K of the Net Income or $0.14 Basic or $0.11 Fully Diluted per share. Cash and CDs increased by 932K or 160%. Total Capital reached 5.3 MM, up 2.7 MM (107%) YTD over the same period last year. The spectacular operating results were achieved as a result of the Company's new business model, national advertising campaign, efficient manufacturing operations, and its dedicated and professional management team.

The Company now plans to apply for listing on The American Stock Exchange during the first quarter of 2003 or sooner.

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/