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Medifast Announces Listing on the American Stock Exchange
PRNewswire-FirstCall
OWINGS MILLS, Md.

Bradley T. MacDonald, Chairman of the Board, is delighted to announce that, "Medifast's (BULLETIN BOARD: MDFT) application for the American Stock Exchange (AMEX) has been approved." Trading of Medifast's Common Stock is anticipated to commence on the AMEX effective Friday, December 20, 2002 under the new symbol "MED," assuming the Company is in compliance with all applicable listing standards. The AMEX approved Medifast, Inc., for the listing of 11,230,881 shares of common stock, par value $1.00 per share. Medifast's AMEX specialist will be Cohen Specialists, LLC.

MacDonald stated, "Medifast is committed to its shareholders, and that commitment includes doing all we can to ensure that Medifast's common stock is traded swiftly, reliably and transparently. Being listed on the AMEX is a definitive milestone event for the shareholders and employees of the Company. This listing will provide for a more orderly market with less volatility and provide more liquidity for our investors." Medifast's listing on the AMEX will furthermore increase its visibility and credibility to institutional investors.

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,
Medifast, +1-410-581-8042, ext. 231