New Executive Vice President of Medifast, Inc.; Former Ford Executive to Lead Next Stage of Company's Growth

OWINGS MILLS, Md., Jan. 29, 2004 -- Medifast, Inc. (AMEX:MED) announced today that Leo V. Williams III has been named the Executive Vice President of the Company, making him responsible for the day- to-day operations of the organization. Mr. Williams, 55, most recently retired after 25 years with Ford Motor Company as the marketing manager for Ford Division SUVs and Pickup Trucks, all of which were best sellers in their segment. After a recommendation from the Medifast Board of Directors he became a member of the Medifast executive team in January 2004.

Additionally, Mr. Williams will serve as the Chief Executive Officer of its wholly owned subsidiaries, Take Shape for Life, Inc. and Consumers Choice Systems. He also has extensive experience in Public Policy and Government Affairs and will lead the Company's efforts in this area.

"Leo has proven leadership and strategic skills, combined with great energy and drive," said Brad MacDonald, CEO of Medifast, Inc. "His background and global experience will make significant contributions to the growth and development of the entire Company. In addition to being a strong leader, thinker and collaborator, Leo has a wealth of expertise in building cohesive organizations."

"I am excited to join Medifast as it begins its next phase of growth," said Mr. Williams. "The combination of growing demand for the Company's medical meal replacement products, increased distribution opportunities through its clinics and national advertising campaign and the growing number of health advisors at Take Shape for Life makes this an opportune and exciting time for me to join the Company."

Mr. Williams was a member of the US Marine Corps Reserves for over 25 years. He has held a wide range of prestigious positions including Commanding General for the 4th Force Service Support Group where he was responsible for providing logistics, engineering and medical support to Marine units worldwide. His command consisted of over 10,000 Marines.

Mr. Williams also served as Commanding General of the Marine Corps Reserve Support Command. During this time, he was responsible for providing administrative support to over 60,000 active and inactive Marines. He retired from the Marine Corps as a Major General in early 2004.

Mr. Williams also serves as Vice Chairman of the Board of Directors for the Toys for Tots Foundation and is a member of the Board of Directors for the U.S. Naval Academy Foundation. Additionally, he is an active member of three military historical associations including the Montford Point Marines, the Tuskegee Airmen and the Marine Corps Reserve Association.

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.