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Medifast Continues Operating Momentum with a Record October
Monthly Revenues Grow 54% Versus Year Earlier Period; 2003 Revenues Increase 114% to $21.5 Million

Medifast, Inc. announced today record revenues for the month of October. The company's revenues were approximately $2.05 million, a 54.8% increase versus the same period last year. For the full year to date, revenues were approximately $21.58 million, a 114% increase versus the previous year. The increase in revenues was a result of continued growth in the company's Take Shape for Life and Consumer's Choice divisions and its Lifestyles Program that provides web support for patients and practitioners.

"We have seen strong growth across all of our business lines as we are beginning to gain traction in several of our new products and markets," said Bradley T. MacDonald, Medifast's President and Chief Executive Officer. "However, we have just begun to see benefits from our Consumer's Choice acquisition and the many new associates who have enrolled in our Take Shape for Life division. While we believe that these businesses will play an important role in our future growth, we are most excited about our television advertising campaign scheduled to begin in early 2004. We will be outlining some of the initiatives that we expect will deliver compelling 2004 financial results in our third quarter conference call next week and in a special meeting for investors we will host in December."

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: Jeremy Hunt, Public & Investor Relations Specialist, Medifast,
+1-410-504-8196; or Ken Sgro, CEOcast, Inc. for Medifast, +1-212-732-4300