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Exhibit 99.2
Press Release
nutrisystem.com inc. Acquires Nestle USA Sweet Success Product Line
HORSHAM, Pa. & GLENDALE, Calif.--(BUSINESS WIRE)--Aug. 28, 2000--
nutrisystem.com inc. (Nasdaq:THIN - news) and Nestle USA, Inc. announced today
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that nutrisystem.com has acquired Nestle's Sweet Success(R) diet meal
replacement product line in exchange for 900,000 shares of nutrisystem.com
common stock.
The shares represent a 3% Nestle ownership stake in nutrisystem.com.
"The diet meal replacement category grew at a 31% annual rate from 1996 to
1999 and Sweet Success(R) is a well recognized and trusted brand in that
market," said Brian Haveson, Chief Executive Officer of nutrisystem.com. "We are
very excited to be able to offer our target consumer another effective dieting
and weight maintenance alternative under the Nutri/System brand name." "Sweet
Success(R) is an excellent complement to the nutrisystem.com online weight loss
program. We will continue to distribute the Sweet Success(R) product solely
through mass market retailers, but will create the kind of online support,
interaction and information for Sweet Success(R) customers that have proven so
successful for the members of the nutrisystem.com community. We will give Sweet
Success(R) an online presence, and Sweet Success(R) gives the Nutri/System brand
a presence in the 'bricks' retailing environment," Haveson continued.
The Sweet Success(R) product line, which includes a ready-to-drink weight
loss shake, powdered mix and snack bars, generated over $14 million in sales in
the first half of 2000. nutrisystem.com, which launched its online community in
October of 1999, reported sales of $11 million in the first half of 2000.
About nutrisystem.com
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nutrisystem.com has developed the leading online weight loss community. Through
its highly interactive Website, www.nutrisystem.com, nutrisystem.com provides
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members with a weight management program that incorporates personal online
counseling, individual diet and exercise plans, a weekly newsletter and online
support groups, chat rooms and bulletin boards. There are no membership fees and
the program features nutrisystem's convenient, portion-controlled meals
delivered directly to the member's home or office.
About Nestle USA
For well over a century, Nestle has been making the very best food and beverage
products for families around the world. In the U.S., Nestle's well-known brands
include: Nestle Toll House(R), Nestle NesQuik(TM), Carnation(R) Coffee-mate(R),
Stouffer's(R), Lean Cuisine(R), Nescafe(R), Libby's(R), Juicy Juice(R),
Buitoni(R), Taster's Choice(R), Ortega(R), PowerBar(R), Nestle(R) Crunch(R),
Butterfinger(R), Wonka(R), Friskies(R) Fancy Feast(R), ALPO(R) and Mighty
Dog(R). Headquartered in Glendale, Calif., Nestle USA has 19,000 employees, $8
billion in sales and is part of Swiss-based Nestle S.A. -- the world's largest
food company.
