Press Releases

Medifast, Inc. announced today that it has appointed Michael S. McDevitt to the position of President. Mr. McDevitt will assume the newly created position effective immediately, and will maintain his current role as Vice President of Finance.

"I am delighted to appoint Mike to the position of President to help lead the next phase of growth for the Company," said Brad MacDonald, Medifast's Chairman and CEO. "He has done an outstanding job handling the financial management of our operations, and in his new role, he will have the added responsibility of helping to grow our day-to-day operations. We have many new initiatives underway, and I am confident that Mike will play a key role in helping us achieve our objectives."

Prior to being promoted to Vice President of Finance in 2004, Mr. McDevitt was Medifast's Controller. Mr. McDevitt worked as a Financial Analyst for The Blackstone Group, a leading investment and advisory firm, before joining Medifast in 2002. He holds a Bachelor's Degree from James Madison University.

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.