ORLANDO, FL, February 20, 1998 -  Galaxy Foods Company today announced that it has joined forces with Pepsi-Cola Company and a major pizza chain on the introduction of an innovative, low-fat combo meal.  The combo meal will be available in late Spring at restaurants of this pizza chain across the country, and will consist of all of the perfect "healthier choice" elements - a slice of Veggie Pizza, made with Galaxy's formägg low-fat mozzarella, a healthy salad, and topped off with an ice cold Diet Pepsi.  The introduction of the low-fat combo meal complements the success of the national roll-out of the new formagg low-fat Veggie Pizza.

A recent Meyers Research consumer marketing test showed that 44% of consumers polled stated they would visit the restaurant more frequently now that the low-fat Veggie Pizza is being offered.  This percentage increases to 50% for consumers over the age of 35.

"At Galaxy, we believe the combo meal builds on the dynamic trend in our industry to offer consumers great tasting healthier alternatives to the current dining-out menus.  The introduction of the low-fat Veggie Pizza is a first for the ever-growing pizza industry." said Angelo S. Morini, President, Galaxy Foods.  "Over the next several months, we will work very closely with our partners to expand our Veggie Pizza Combo Meal to all segments of foodservice, from universities and schools to hospitals, institutions and corporate cafeterias."

"Pepsi has a long history of working with customers to better enhance their business and create added value whenever and wherever it is needed", said Joe Juliano, Vice President, Prestige Accounts, Pepsi-Cola Company.  Adding Diet Pepsi to the Veggie Pizza Combo Meal really completes the package, and we're confident that this offer will connect with consumers in a very meaningful way."

Galaxy Foods was recently featured in the February issue of Research Magazine, which is distributed to over 90,000 stockbrokers and analysts nationwide.  For a comprehensive look at Galaxy, refer to the February issue of Research Magazine, page 78, or call (407) 855-5500 ext. 307 for a reprint of the article.

Galaxy Foods is a leading producer of healthy cheese and dairy-related products for the retail and foodservice markets.  Brand names include Formägg, Veggie Slices, Soyco, Soymage, Lite Bakery, and Wholesome Valley.  Galaxy's Investor Relations Department is available to answer calls at (407) 855-5500, extension 105.  For Galaxy's latest financial statements, consumers may visit the company's website at www.galaxyfoods.com. In addition, an investor Monthly Insight Newsletter is available.  To be added to the mailing list of this publication, please call (407) 855-5500, extension 307.

Pepsi-Cola Company, headquartered in Somers, NY, is a division of PepsiCo, Inc. The company manufactures and distributes brands including Pepsi, Diet Pepsi, Mountain Dew, Slice, Mug, Aquafina, and All Sport, as well as other products marketed via joint ventures and/or distribution agreements with Thomas J. Lipton Company and Starbucks Coffee Company.