October 27, 2000
Orlando, FL

Contact
Wilma Williams, Investor Relations
Galaxy Nutritional Foods
407/855-5500
wwilliams@galaxyfoods.com

Jennifer Colbert, Robert Rinderman
Jaffoni & Collins Incorporated
212/835-8500
gxy@jcir.com

GALAXY FOODS TO ANNOUNCE 2ND QUARTER FISCAL 2001 EARNINGS ON NOVEMBER 6; SHAREHOLDERS MEETING SCHEDULED FOR NOVEMBER 16

ORLANDO, Florida (October 27, 2000) - Galaxy Foods Company (AMEX: GXY), a leading producer of nutritional, plant based and health-promoting dairy and dairy related alternatives for the retail, foodservice and industrial markets, intends to release its fiscal 2001 second quarter financial results for the period ended September 30, 2000 before the market opens on Monday, November 6, 2000.

The Company will host a second quarter earnings conference call the morning of November 6 at 11:00 a.m. (ET). Galaxy Foods President, Chairman and CEO Angelo Morini along with Chief Financial Officer Keith Ewing will be on the call.

The conference call can be accessed by dialing (888) 604-5272. Participants are asked to call the assigned number 10 minutes before the conference call begins and reference Galaxy Foods Second Quarter Earnings. A live audio Web cast can be accessed by logging onto www.vcall.com at 11:00 a.m. (ET) on November 6. A replay of the audio Web cast can be accessed by logging onto www.vcall.com from November 6 to December 6. The telephone replay dial-in number for domestic callers is (888) 790-3702 and (815) 484-2016 for international callers. The telephone replay will be available from November 6 to November 9.

Separately, the annual meeting of shareholders for Galaxy Foods Company will be held Thursday, November 16, 2000 at 10:00 a.m. at the Wyndham Hotel, located at 8001 International Drive, Orlando, Florida. In addition to shareholder voting, the annual shareholder's meeting will include a tour of the Company's facilities for invited guests and reports by President, Chairman and CEO Angelo Morini, CFO Keith Ewing, and other members of management.

A live audio Web cast of the Galaxy Foods Shareholders Meeting will be available by logging onto www.vcall.com at 10:00 am on Thursday, November 16. A replay of the audio Web cast can be accessed by logging onto www.vcall.com from November 16 to December 16. A listen only dial-in number for the Shareholders Meeting can be accessed by dialing (888) 604-5272. Participants are asked to call the assigned number 10 minutes before the conference call begins and reference Galaxy Foods Shareholders Meeting.

In response to the Security Exchange Commission's new rule on fair disclosure, Regulation FD, effective October 23, 2000, Galaxy Foods will open all conference calls/Web casts to the financial community and general public. Financial analysts and other investment professionals will be given top priority for asking questions. All other participants, including private investors, are encouraged to email questions to Wilma Williams in Galaxy's Investor Relations Department at wwilliams@galaxyfoods.com prior to all Company conference calls/Web casts. It is Galaxy's intent to address all emailed questions in an open forum, with equal access to all shareholders and investment professionals.

About Galaxy Foods Company
Galaxy Foods Company is a leading producer of health-promoting dairy and dairy related alternatives for the retail, foodservice and industrial markets. The Company's plant-based products are low or no fat (no saturated fat), have no cholesterol and no lactose and contain more vitamins and minerals than conventional dairy products. Galaxy products, available at health food stores and grocers, are part of the nutritional or functional food category, the fastest growing segment of the retail food market. Galaxy brand names include Veggie Milk™, Veggie Slices™, formägg®, Soyco®, Soymage®, Wholesome Valley™, and Lite Bakery®. For more information, please visit the Company's web site at www.galaxyfoods.com.

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, or other factors which may cause actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements which speak only as of the date hereof. The company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect unanticipated events or developments.