Medifast, Inc. Announces New Interim Chief Financial Officer

         Medifast, Inc. Announces New Interim Chief Financial Officer

PR Newswire

OWINGS MILLS, Md., Dec. 26, 2012

OWINGS MILLS, Md., Dec. 26, 2012 /PRNewswire/ --Medifast, Inc. (NYSE: MED), a
leading United States manufacturer and provider of clinically proven,
portion-controlled weight-loss products and programs, today announced that the
Company's interim Chief Financial Officer, Edward J. Powers, will resign to
accept another job opportunity in the construction tool industry in the
greater Baltimore area, effective January 4, 2013. Chairman and Chief
Executive Officer, Michael C. MacDonald has named Joseph Kelleman, the
Company's Director of Finance - Supply Chain, as interim Chief Financial
Officer. Mr. Powers is currently working with Mr. Kelleman to ensure a smooth
transition.

(Logo: http://photos.prnewswire.com/prnh/20120613/NE24271LOGO-b )

"On behalf of our employees and the Board we appreciate Ed's contributions on
the finance team as Controller and interim CFO and wish him well in his return
to the construction tool industry where he spent over 20 years of his career,"
commented Mr. Michael C. MacDonald, Medifast's Chairman and Chief Executive
Officer. "We are actively pursuing our previously announced search for a new
CFO and look forward to working with Joe on an interim basis as we continue to
focus on increasing sales and realizing greater cost efficiencies to help
improve our margins and increase earnings long-term."

Mr. Kelleman joined Medifast as Director of Finance – Supply Chain in February
2012 with over 20 years of finance and manufacturing experience. Most
recently, Mr. Kelleman was Global Operations Controller – CDIY Business at
Stanley Black & Decker, Inc. from 2010 to 2012. While at Stanley Black &
Decker, Inc. Mr. Kelleman was Director of Finance – Asian Operations where he
had financial oversight for manufacturing in Asia and the global purchasing
operations as well as development and review of internal controls, strategic
planning, annual budget build, and monthly closing and reporting from 2009 to
2010. Mr. Kelleman was also Director of Finance – NAPT Commercial Operations
from 2001 to 2009, Director of Finance – WWPT Manufacturing from 1999 to 2001,
and Director of Finance – North American Manufacturing from 1997 to 1999.

As previously announced on November 13, 2012 the Company has engaged an
executive recruiting firm to conduct a search for a new chief financial
officer.

MED-F

About Medifast

Medifast (NYSE: MED) is the leading easy-to-use, clinically proven,
portion-controlled weight-loss program. The company sells its products and
programs via four unique distribution channels: 1) the web and national call
centers, 2) the Take Shape For Life personal coaching division, 3) Medifast
Weight Control Centers, and 4) a national network of physicians. Medifast was
founded in 1980 and is located in Owings Mills, Maryland. For more
information, log onto www.MedifastNow.com.

Forward Looking Statements

Please Note: This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E
of the Securities Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. These forward-looking statements generally can
be identified by use of phrases or terminology such as "intend" or other
similar words or the negative of such terminology. Similarly, descriptions of
Medifast's objectives, strategies, plans, goals or targets contained herein
are also considered forward-looking statements. Medifast believes this release
should be read in conjunction with all of its filings with the United States
Securities and Exchange Commission and cautions its readers that these
forward-looking statements are subject to certain events, risks,
uncertainties, and other factors. Some of these factors include, among others,
Medifast's inability to attract and retain independent Associates and Members,
stability in the pricing of print, TV and Direct Mail marketing initiatives
affecting the cost to acquire customers, increases in competition, litigation,
regulatory changes, and its planned growth into new domestic and international
markets and new channels of distribution. Although Medifast believes that the
expectations, statements, and assumptions reflected in these forward- looking
statements are reasonable, it cautions readers to always consider all of the
risk factors and any other cautionary statements carefully in evaluating each
forward-looking statement in this release, as well as those set forth in its
latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other
filings filed with the United States Securities and Exchange Commission,
including its current reports on Form 8-K. All of the forward-looking
statements contained herein speak only as of the date of this release.

SOURCE Medifast, Inc.

Website: http://www.MedifastNow.com
Contact: Investor Contact: Katie Turner, +1-646-277-1228,
Katie.turner@icrinc.com; Media Contact: Alecia Pulman, +1-203-682-8224,
apulman@icrinc.com
 
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