Synergy Brands' Expects 2004 Revenue to grow by 37% to $56 Million

On-Line Operations Post Record Year

Company Continues to Reduce Debt

Melville,  NY (date) - Synergy Brands, Inc. (NASDAQ:  SYBR) today announced that
it expects 2004 revenue to be $56 million in its year end reporting, as compared
to $41 million in 2003, a record year in revenues for the company.  Contributing
strongly to the  company's  performance  in 2004 was the growth of the company's
B2B  operations  as  well  as  Synergy's  online  operations  that  include  its
www.cigargold.com and Bill Rancic's www.CigarsAroundTheWorld.com operations.

Synergy  Brands  also made  strides in  reducing  its debt as several  debenture
holders elected to convert  approximately $3 million of company debt into equity
in the fourth  quarter of 2004.  Mair  Faibish,  CEO of Synergy,  stated:  "This
conversion  of debt into  equity  results in a  substantial  improvement  in our
balance sheet and financial  stability.  We view this as a sign of confidence in
our future  that our main  creditors  are  willing to convert  priority  debt to
common  equity." In addition to  improving  the  company's  balance  sheet,  the
conversion  should produce a substantial  savings in on-going  interest  expense
each year.

As a result of the increased  equity  resulting  from the debt  conversion,  the
company is re-considering  its previously  announced  alternatives with Congress
Financial.  "The  improvement in our balance sheet may enable Synergy to finance
its requirements in a different manner and at a lower cost. This could result in
a savings of approximately $300,000 in commitment fee expense for the previously
announced  credit  line," said Faibish.  The company is currently  reviewing its
alternatives and expects to announce a decision regarding a credit facility.

Synergy Brands expects to report final,  audited  results in March when it files
its Form 10K.

About Synergy Brands:

Synergy  Brands,  Inc. is a holding  company that  operates in the wholesale and
Internet  distribution  of consumer goods as well as the retail  distribution of
premium  cigars.  It principally  focuses on the sale of nationally  known brand
name consumer products  manufactured by major U.S.  manufacturers.  The consumer
products  are  concentrated  within the  Grocery  and Health & Beauty Aids (HBA)
industries as well as the premium cigar  business.  The Company  distributes and
sells these products through wholly owned  subsidiaries in two distinct manners.
The  Company  uses  advancements  in  web-based  technology  to process  and use
logistics based programs to optimize its  distribution  costs on both wholesale,
Internet and retail levels.

This press  release  and  company  review and  assumptions  made  regarding  the
financial  figures and other  information,  referenced and presented,  state and
reflect assumptions, expectations,  projections, intentions and/or beliefs about
past and future events that are intended as  "forward-looking  statements" under
the Private  Securities  Litigation  Reform Act of 1995.  You can identify these
statements by the fact that they do not relate to  historical or current  facts.
They use words such as "anticipate",  "estimate",  "project", "forecast", "may",
"will",  "should",  "expect",  "assume",  and other deviations thereof and other
words of similar meaning.  In particular these include,  but are not limited to,
statements reflecting the projected revenues,  earnings,  profit and loss of the
Company  and  associated  costs.  Any or all  of the  Company's  forward-looking
statements  may  turn  out to be  wrong.  They  can be  affected  by  inaccurate
assumptions or by known or unknown risks and uncertainties. For a description of
many of these risks and  uncertainties,  please refer to the  company's  filings
with the U.S.  Securities & Exchange  Commission  (www.sec.gov)  including Forms
10KSB and 10QSB.

Contact: Bev Jedynak
Martin E. Janis & Company, Inc.
312-943-1100 ext. 12
bjedynak@janispr.com