January 5, 1999
Orlando, FL

Contact: Tracy Rushwin
(407) 855-5500, extension 105

GALAXY FOODS ANNOUNCES NEW INVESTMENT BANKER

ORLANDO, FLORIDA (January 5, 1999) - Galaxy Foods Company (NASDAQ: GALCD, formerly GALX), makers of healthy cheese and dairy-related products, today announced the retention of National Securities Corporation as investment bankers and shareholder relations advisors for the Company. National Securities was founded in 1947 and includes approximately 300 retail and institutional registered representatives located in approximately 40 offices in 20 states. National Securities is a full service investment banking and brokerage firm and is registered with the SEC and NASD and is a member of the Chicago Stock Exchange.

Galaxy Foods Company is the inventor and originator of a new, healthier and better way to make cheese and dairy-related products. Our products are primarily low or no fat (no saturated fat), have no cholesterol and no lactose and contain more vitamins and minerals than conventional cheese. Galaxy brand names include formägg, Soyco, Soymage, Veggie Slices, Wholesome Valley, and Lite Bakery. For more information, contact Tracy Rushwin at (407) 855-5500, extension 105. You may also obtain more information from our site on the World Wide Web at http://www.galaxyfoods.com.