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Medifast 4th Quarter Revenues up 250%; Exceeds Forecast as New Products and Programs Gain Acceptance in the Medical Community
PRNewswire-FirstCall
OWINGS MILLS, Md.

Bradley T. MacDonald, Chairman of the Board of Medifast Inc. (BULLETIN BOARD: MDFT) is delighted to report that its new Medifast Plus line for combating Diabetes, Arthritis, Menopausal Health problems and the Company's Appetite Suppression product, featuring a new technology "MEDIFIBER" is an overwhelming success in the medical marketplace.

The company is also pleased with the performance of its clinical sports nutrition products, "Take Shape" Women's Sports Drink and Bioengineered Food for men. Dosage controlled, Medifast® and Take Shape® meal replacement products provide clinically proven, safe and effective weight and disease management and sports nutrition products that will help Americans stay healthy.

Revenues through November 21, 2002 for the 4th Quarter are $2.4 million versus $682k at the same time last year boosting revenues over 250%. Fourth Quarter revenues to date are double revenues reported for the entire 4th Quarter last year. The Company has made formal application to the American Stock Exchange and has selected Cohen Specialists, LLC as its "Specialist" assuming it is approved and admitted to the exchange.

As Coach Dick Vitale recently autographed on a basketball, "Medifast is Awesome Baby." Coach Vitale will help communicate the company's message to America during the first quarter of 2003 with our "You Lose and You Win" advertising strategy. Medifast appreciates the superb support of its Physicians, Medical Practitioners and Qualified Health Advisors during 2002 and wishes all Medifast customers and investors a happy holiday season.

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