February 11, 1999
Orlando, FL

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

GALAXY FOODS ANNOUNCES SHAREHOLDER APPROVAL
FOR REVERSE STOCK SPLIT

ORLANDO, FLORIDA (February 11, 1999) - Galaxy Foods Company (NASDAQ: GAXCD, formerly GALCD), makers of healthy cheese and dairy-related products, today announced shareholder approval for a one-for-seven reverse stock split at a special meeting of shareholders held February 11, 1999. The stock split will be effective at the open of business on February 12, 1999. The primary reason for the reverse stock split was to increase the bid price of the Company's common stock in order to avoid delisting from Nasdaq SmallCap Market. The Company was in compliance with all other criteria for continued listing. The Company's common stock will trade under the symbol "GAXCD" for 20 trading days following this reverse stock split at which time Nasdaq will determine whether the Company has met all conditions and requirements to continue listing. The Company's post-split CUSIP number for its common stock is 363175 20 9.

Cynthia Hunter, CFO, stated "We are pleased with the shareholder approval for this reverse stock split. We believe the adjusted number of shares outstanding and the new trading price bring the Company in line with our market peers. The reverse also allows the Company to meet the Nasdaq SmallCap's minimum bid price requirement."

Galaxy Foods Company is the inventor and originator of a new, healthier and better way to make cheese and dairy-related products. Galaxy's 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 Veggie, formägg, Soyco, Soymage, 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.