Galaxy Nutritional Foods Announces Postponement of Its Annual Meeting

ORLANDO, Fla., Feb. 10 /PRNewswire-FirstCall/ -- Galaxy Nutritional Foods, Inc. , a leading developer and marketer of cheese alternatives, organic dairy and other organic and natural food products, announced that it will postpone its Annual Meeting of Stockholders scheduled for Tuesday, February 17, 2009.

On February 9, 2009, Andromeda Acquisition Corp. ("Andromeda") announced that it plans to make a cash tender offer to purchase all outstanding shares of the Company for $0.36 per share commencing on or about February 13, 2009 and ending on or about March 16, 2009. As a result of the tender offer proposal, the Board of Directors of the Company resolved to postpone its Annual Meeting of Stockholders ("Annual Meeting") originally scheduled for Tuesday, February 17, 2009 until after the conclusion of the tender offer period.

The Company will still host its investor conference call on, February 11, 2009 at 11:00 a.m. EDT to discuss its fiscal 2009 operating results for the third quarter ended December 31, 2008. Shareholders and other interested parties may participate in the conference call by dialing 888-200-8867 (international/local participants dial 973-935-8765) and referencing the ID code 84870733, a few minutes before 11:00 am EDT on February 11, 2009. A replay of the conference call will be available on Galaxy Nutritional Foods Website at: http://www.galaxyfoods.com/investors/transcripts.asp starting on Thursday, February 12, 2009.

About Galaxy Nutritional Foods, Inc.

Galaxy Nutritional Foods, Inc. develops and internationally markets plant-based cheese alternatives, organic dairy and other organic and natural food products to grocery and natural foods retailers, mass merchandisers and foodservice accounts. Galaxy Nutritional Foods Veggie(R), the leading brand in the grocery cheese alternative category and the Company's top selling product group, is primarily merchandised in the produce section and provides calcium and protein without cholesterol, saturated fat or trans-fat. Other popular brands include: Galaxy Nutritional Foods Rice(R), Veggy(R), Vegan(R), Rice Vegan(R), and Wholesome Valley Organic(R). Galaxy Nutritional Foods, Inc. is dedicated to developing nutritious and delicious food products made with high quality natural ingredients that exceed the expectations of today's health conscious consumers. Galaxy is also committed to reducing its environmental impact as part of an Eat Green for Body & Earth(TM) program that offsets carbon emissions associated with product shipping and emphasizes the use of organic ingredients. For more information on Galaxy's products or green initiatives, visit www.galaxyfoods.com. Galaxy Nutritional Foods, Inc. is headquartered in Orlando, Florida, and its common stock is quoted on the OTC Bulletin Board under the symbol "GXYF".

Any statement of future expectations in this press release, including without limitation, as to future cost of goods sold, revenues, earnings and profitability, plans and objectives for future operations, future economic performance or expected operational developments, and all other statements regarding the future are "forward looking" statements within the meaning of the Private Securities Litigation Act of 1995. These forward looking statements are based on the Company's strategic plans and involve risks and uncertainties that may cause actual results to differ materially and adversely from these forward looking statements. Such risks and uncertainties include, without limitation: the Company's ability to execute its business strategy in a very competitive service and pricing environment; risks associated with the launch of new marketing campaigns; future costs and fluctuations in the price of goods sold (including in particular, casein); continued relations with and pricing dependence on third party suppliers; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission, including without limitation, the Company's annual report on Form 10-K for the year ended March 31, 2008. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly release any revisions to these forward- looking statements to reflect events or circumstances after the date hereof or to reflect unanticipated events or developments.

Galaxy Nutritional Foods, Inc.

CONTACT: Dawn M. Robert, Investor Relations, Galaxy Nutritional Foods,
Inc., +1-407-854-0433

Web site: http://www.galaxyfoods.com/