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Medifast Revenues up 200% in January; Company Delivers 855 Million Consumer Impressions Featuring Coach Dick Vitale Driving Revenue 3 Times Higher than Last Year
PRNewswire-FirstCall
OWINGS MILLS, Md.

Medifast, Inc. announced today that its revenues for the month of January increased by 200% to $1.6 million versus the same period last year. The Company's extremely successful consumer-advertising program has contributed to the strong results. Medifast will deliver over 855 million consumer impressions through a national print and network radio advertising campaign featuring celebrity sportscaster, Coach Dick Vitale. In essence, by April every American will either hear or see a Medifast ad twice.

Coach Vitale says, "I am really enthused and excited to be part of the Medifast family. I am totally impressed with the leadership of its head coach, Brad MacDonald, and I am proud to be associated with him and the team he has put together. It is thrilling to know that I am promoting awareness to the Medifast products, which play a vital role in assisting people in living healthy, quality lives. To be part of this goal is simply `Awesome Baby' with a capital `A'"!

In addition, Medifast is proud to introduce a new line of non-nutritional, health related accessories designed to support its weight and disease management business. These products include a blood pressure monitor, thermometer, body fat reader and scale marketed under the "Take Shape" label. The Company estimates that these products, which will be sold to physicians and their patients starting in March, will increase revenues for 2003 by $1 million.

"Investors in Medifast can rest assured that its management team is focused on increasing revenues, profits, and productivity, which doubled shareholders' equity in FY 2002," added MacDonald. "We believe investors will see the results from our efforts when we announce our year-end results during the first week of March. Medifast continues to fight nutritional pollution in our society with its `prescription for life' disease and weight management meal replacement products. Providing quality Medifast products and services, and looking after the health and well being of our patients, will provide the financial results that will continue to increase shareholder equity."

Medifast ads will appear in a variety of national publications including Parade Magazine, Today's Health and Wellness, AARP Magazine, and over the airwaves of CBS radio during the NCAA's March Madness. "Our aggressive advertising campaign is the largest in the history of the Company and has proven extremely successful thus far and in fact has the highest return on investment for the use of cash reserves, which are growing daily," says MacDonald. For more information about Medifast, visit www.stocksontheweb.com.

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.

SOURCE: Medifast, Inc.

CONTACT: Casey Seward, Public & Investor Relations Specialist of
Medifast, Inc., +1-410-504-8154