November 22, 1999
Orlando, FL

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

GALAXY FOODS ANNOUNCES DATE OF ANNUAL SHAREHOLDERS' MEETING

ORLANDO, FLORIDA (November 22, 1999) - Galaxy Foods Company (AMEX: GXY) today announced Thursday, February 10, 2000 at 10:00 am as the tentative date and time for their annual shareholders' meeting. The date of the annual meeting was set to coincide with the Company's annual sales conference. The Company holds a national sales meeting each year which includes the regional salespeople and key brokers from across the United States and key markets internationally. The sales conference is scheduled for February 11-13, 2000. In addition to shareholder voting, the annual shareholders' meeting will include reports by members of management, a briefing by Angelo Morini, the Company's president and CEO, and a tour of the facility for invited guests. Following the meeting, shareholders will have the opportunity to meet with salespeople from their region of the country to discuss progress in sales and new product developments. Both meetings will be held at the Renaissance Hotel in Orlando, Florida.

Angelo S. Morini, Galaxy's President and CEO, stated, "We have changed the date of our annual shareholders' meeting to coincide with our annual sales conference to provide shareholders exposure to our key salespeople and brokers. I am eager for these meetings and think that both the shareholders and the salespeople will gain valuable insight from this combined meeting format."

Galaxy Foods Company is a leading producer of health-promoting soy, oat, and rice based dairy and dairy-related alternative products for the retail, foodservice and industrial markets. These plant-based products, which are low or no fat (no saturated fat), have no cholesterol and no lactose and contain more vitamins and minerals than conventional dairy products, are part of the nutraceutical or functional food category, the fastest growing segment of the retail food market. The Company also markets conventional dairy products for all three channels of distribution. Galaxy brand names include Veggie Slices, Veggie Milk, formagg, 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 Galaxy's web site at www.galaxyfoods.com.