Date: Thu, 18 Dec 1997 06:29:52 GMT Server: Apache/1.1.3 Content-type: text/html <font Size=+2>Galaxy </font> Foods - Corporate Summary

Galaxy's Chairman and President, Angelo S. Morini, is the inventor of the world's first healthy cheese product and in 1972 was the first to market a healthy cheese product. Since that time,the popularity of healthy foods has steadily increased with more and more consumers demanding healthy products with great taste. Galaxy Foods has met this demand.

Galaxy's products are developed, tested, produced and distributed from a 60,000 square foot custom designed headquarters in Orlando, Florida. Every aspect of this sophisticated, high-tech facility - from labs and testing kitchens to manufacturing, packaging and shipping - exemplifies the industry's state of the art.

This cutting edge technology and the Company's unique manufacturing processes make Galaxy the only producer to offer a complete line of both healthy and conventional cheese and cheese related products for the retail, food service and industrial markets.

As it has been for a quarter of a century, Galaxy Foods is vigorously committed to on-going research and development to bring its customers the most innovative and highest quality products on the market today while satisfying customer demands for healthier choices.

Galaxy's numerous innovative accomplishments include:

The first dairy free individually wrapped cheese slices
The first rice-based line of cheese products made with organic brown rice
The largest line of pareve kosher cheese products
The first meat free line of meat flavored tender deli cuts
The first individually wrapped cheese slices made with organic tofu
The largest line of lactose free cheese and cheese related products
The first complete line of salad bar cheddar products
The first complete "Lite Bakery" product line

The Company has sufficient financial resources and no long term debt. Clearly, the company is poised for rapid growth and profitability in a rapid growth market. Growth is nothing new to Galaxy. From 1980 through 1991, it was the fastest growing cheese company in the United States. In 1991, with $21 million in sales and a positive cash flow, a tragic fire completely destroyed its sole existing facility in New Castle, Pennsylvania. The Company chose to rebuild in Orlando, Florida and resumed operations in late 1992. Since that time, Galaxy has reformulated its products, designed all new packaging, made major equipment purchases and is now regaining distribution across the country in the retail, food service and industrial markets.

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