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The Seidler Companies Initiates Coverage of Medifast with a 'Strong Buy' and a Price Target of $18

The Seidler Companies Incorporated announced that it had initiated coverage of Medifast, Inc. yesterday before the market opened with a "Strong Buy" rating and a Price Target of $18. The report was written by Analyst David M. Block, who covers stocks in the health and nutrition space.

"Medifast is one of our favorite plays in the sector," said Mr. Block. "While the company has room to grow on several fronts, we believe its clinically proven core weight loss products and program will be the key driver of growth going forward. Underlying that growth will be the company's first-ever direct response television commercial, which we anticipate will generate significant revenue and lead to impressive growth in fiscal 2004."

Founded in 1969, The Seidler Companies Incorporated is one of California's leading independent investment banking and financial services firms. The firm provides a broad range of products and services in the areas of corporate finance, public finance, institutional capital market services and individual and family investing. The Seidler Companies is 100% family and employee-owned and is a member firm of the New York Stock Exchange, Inc. (NYSE), National Association of Securities Dealers (NASD) and Securities Investor Protection Corporation (SIPC). Seidler is focused on providing investment and investment banking to the middle-market

SOURCE: Seidler Companies, Inc.

CONTACT: David M. Block, +1-213-683-4500, for Seidler Companies, Inc.