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Medifast CEO and Chairman of the Board Bradley T. MacDonald Named Ernst & Young Entrepreneur Of The Year® 2006 Award Finalist in Maryland

Medifast, Inc. announced today that CEO Bradley T. MacDonald is a finalist for the Ernst & Young Entrepreneur Of The Year® 2006 Award in the Maryland Program. According to Ernst & Young, the awards program was designed to recognize outstanding entrepreneurs on a regional, national and global level who are building and leading dynamic and growing businesses. Bradley MacDonald was selected as a finalist from nearly 60 nominations by a panel of independent judges. Award winners will be announced at a special 20th anniversary gala event on June 22 at the Hyatt Regency Baltimore.

Medifast, Inc. manufactures, markets and distributes clinically proven, proprietary Medifast branded weight loss and health management products. With the leadership of Brad MacDonald, the company capitalized on Medifast's national brand awareness to develop a dynamic business model, which offers a broad spectrum of options for customer support. Today, the company has three unique channels of distribution.

The first is the direct-to-consumer web and toll-free model, which is driven by a multimedia advertising strategy. This channel encourages support from primary care physicians and offers customers nutritionists, meal plans and a message board community.

The second is its Take Shape for Life direct sales business, which is a support program that moves beyond the scope of weight loss to show customers how to achieve optimal health through the balance of body, mind and finances. This physician-led relationship marketing model has excellent customer retention because of the one-on-one support and competitive business opportunity.

The third is the traditional physician clinic wholesale model, which is the foundation of Medifast's heritage in the medical community. Medifast products are clinically proven by major research institutions and have been recommended by more than 15,000 physicians and used by over 1 million customers for more than 25 years. Medifast intends to be a player in not only the weight loss industry but in the total health and wellness arena as America faces a national health crisis due to obesity.

"Medifast has developed a special culture of entrepreneurial and technology-proficient executives who are capable of driving our aggressive and unique business models. They are the reason I was able to take the risks and reenergize the Medifast brand. They represent the finest tradition in corporate America of dedicated associates who were willing to sacrifice to make the company work. God bless them and all hardworking Americans," said MacDonald.

The Ernst & Young Entrepreneur Of The Year awards program celebrates its 20th anniversary this year. Awards are given to entrepreneurs who have demonstrated excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities.

Regional award winners are eligible for consideration for the Ernst & Young Entrepreneur Of The Year 2006 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 18, 2006. The overall national Entrepreneur Of The Year award recipient is then considered for the world event held in Monte Carlo.

About Medifast, Inc.

Medifast, Inc., through its subsidiaries, engages in the production, distribution, and sale of weight and disease management products, and other consumable health and diet products in the United States. Its products also include meal replacement and sports nutrition products. The company offers its products through Web, call center, independent health advisors, medical professionals, weight loss clinics, and direct consumer marketing supported by phone and the Web. Medifast was incorporated in 1980 and is headquartered in Owings Mills, Maryland.

About the Ernst & Young Entrepreneur Of The Year Awards

The Entrepreneur Of The Year® awards program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, the Ernst & Young Entrepreneur Of The Year award recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program honors entrepreneurs through regional, national and global award programs in over 100 cities and 35 countries.

SOURCE: Medifast, Inc.

CONTACT: Erin Grecu of Warschawski, +1-410-367-2700, for Medifast