Reliv' International (RELV) 8-K Reliv International Reports Fourth-quarter Results

Exhibit 99

NEWS RELEASE

For more information, contact:

Steve Albright	or:	Fred Nielson
Chief Financial Officer		Investor Relations
(636) 733-1305		(636) 733-1314

FOR IMMEDIATE DISTRIBUTION

RELIV INTERNATIONAL REPORTS FOURTH-QUARTER RESULTS

Reliv reports increase in operating income for the quarter

CHESTERFIELD, Mo., Feb. 25, 2009 – Reliv International, Inc. (NASDAQ:RELV), a nutrition and direct selling company, today reported its fourth-quarter and full-year 2008 earnings.

Fourth-quarter results

Net sales for the quarter were $22.1 million compared to net sales of $24.6 million in the fourth quarter of 2007.  Net income for the fourth quarter of 2008 was $250,000 or $0.02 per diluted share, compared to net income of $697,000 or $0.04 per diluted share in the 2007 fourth quarter.

During the fourth-quarter of 2008, U.S. net sales totaled $19.4 million, down 8.0 percent from the 2007 fourth quarter.  International sales, or sales outside of the United States, dropped to $2.7 million in the quarter compared to $3.5 million in the prior year quarter.  Foreign currency exchange fluctuations accounted for approximately half of the reported sales decline.

Income from operations in the fourth quarter of 2008 rose to $1.3 million compared to $1.1 million the 2007 fourth quarter.

Net income and fully diluted earnings per share for the fourth quarter, excluding non-cash investment losses on a private equity fund and other investments, was $850,000, or $0.06 per share.  During the quarter, Reliv incurred investment losses totaling $336,000, for which the company does not expect to receive an income tax benefit as it does not anticipate having sufficient future capital gains to offset these current year capital losses.  Excluding these charges, Reliv’s net income showed an improvement over the fourth quarter of 2007.

Full-year results

Net sales for the full year of 2008 equaled $98.2 million, down 11.6 percent from 2007 net sales.  Sales outside of the U.S. rose 0.8 percent to $12.8 million.  U.S. sales for 2008, however, declined 13.2 percent to $85.4 million.

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Net income for 2008 was $2.9 million or $0.19 per diluted share, down from $5.0 million or $0.31 per diluted share in 2007.  The 2008 results reflect one-time charges of $0.05 per diluted share from the investment losses and related tax consequences which occurred primarily in the fourth quarter. Excluding the one-time charges, diluted EPS would have been $0.24.

Net cash generated from operating activities was $4.4 million for 2008, down from $4.8 million for 2007, and we had cash and cash-equivalents of $4.5 million as of Dec. 31, 2008.

As of Dec. 31, 2008, Reliv had approximately 67,340 distributors, down 3.8 percent from Dec. 31, 2007.

Robert L. Montgomery, president, chairman and chief executive officer of Reliv, said, “We are pleased by the increase in operating income in the fourth quarter, which we achieved by reducing and controlling costs throughout the company.”

“During the quarter we also had a successful introduction of GlucAffect, a new product that supports blood-sugar management and weight loss,” Montgomery said.  “Customers are reporting solid results from the product, and distributors are excited about it as well,” he said.

“U.S. sign-ups in January 2009 were the best in nearly two years, and global sponsoring was also very strong,” Montgomery said.  “A successful U.S. National Conference in Fort Worth, Texas, earlier this month generated great excitement among our distributor force.  The combination of sponsorship and excitement makes me optimistic as I look forward in 2009,” he said.

“Our major focus in 2009 will be increasing sponsorship levels which should lead to top-line growth.  Our business opportunity is a great match for many people who are looking for additional income during this recession.  And Reliv makes nutrition simple by providing optimal nutrition with two shakes a day,” Montgomery added.

Reliv will host a conference call to discuss fourth-quarter and year-end earnings with investors at 1:00 p.m. Eastern Time on February 25th.  The dial-in number for investors is 888-680-0860. The participant passcode is 66331036.  To register, please call in 15 minutes prior to start of the call.  A replay of this call will be available beginning today at 3 p.m. Eastern for one week by telephone calling 888-286-8010 and using the passcode 84174618.  A live web cast of this call will be available through the Investor Relations section of Reliv’s Web site: http://www.reliv.com/US/EN/Conference%20Calls%20Presentations.html.

An online archive of the broadcast will be available on Reliv’s Web site in the Investor Relations section 24 hours after the call concludes.

About Reliv

Reliv International, Inc., based in Chesterfield, Mo., is a developer, manufacturer and marketer of a proprietary line of nutritional supplements.  Reliv supplements address essential daily nutrition, weight loss and targeted solutions such as energy and performance enhancement, digestive health, women’s health and anti-aging.  Reliv sells its products through an international network marketing system of 67,340 independent distributors.  Additional information about Reliv International, Inc. can be obtained on the Web at www.reliv.com.

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Reliv International, Inc. and Subsidiaries
ADD TWO
Condensed Consolidated Balance Sheets
	December 31,		December 31,
	2008		2007
	(Unaudited)		(Audited)
Assets
Current assets:
Cash and cash equivalents	$	4,460,637	$	11,694,699
Short-term investments		—		398,592
Accounts and notes receivable,  less allowances of
$10,200 in 2008 and $8,300 in 2007		494,689		811,634
Accounts due from employees and distributors		241,532		204,705
Inventories		6,221,954		6,179,238
Other current assets		2,176,802		1,798,932
Total current assets		13,595,614		21,087,800
Other assets		1,220,546		2,999,903
Accounts due from employees and distributors		164,462		319,883
Net property, plant and equipment		8,912,157		9,199,185
Total assets	$	23,892,779	$	33,606,771
Liabilities and stockholders’ equity
Total current liabilities	$	7,350,199	$	8,574,257
Other non-current liabilities		434,990		1,227,313
Total stockholders’ equity		16,107,590		23,805,201
Total liabilities and stockholders’ equity	$	23,892,779	$	33,606,771

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Consolidated Statements of Operations
	Three months ended December 31,						Year ended December 31,
	2008			2007			2008			2007
	(Unaudited)			(Unaudited)			(Unaudited)			(Audited)
Product sales	$	19,629,188		$	22,014,462		$	87,348,915		$	99,465,246
Handling & freight income		2,473,727			2,633,702			10,845,903			11,592,258
Net sales		22,102,915			24,648,164			98,194,818			111,057,504
Costs and expenses:
Cost of products sold		4,026,823			4,319,638			17,437,133			19,100,527
Distributor royalties and commissions		8,342,155			9,840,619			38,207,889			44,298,744
Selling, general and administrative		8,408,865			9,393,401			36,881,041			40,363,322
Total costs and expenses		20,777,843			23,553,658			92,526,063			103,762,593
Income from operations		1,325,072			1,094,506			5,668,755			7,294,911
Other income (expense):
Interest income		28,164			135,542			328,057			634,446
Interest expense		(5,922	)		(641	)		(37,327	)		(1,373	)
Gain (loss) on limited partnership investment		(335,520	)		(14,308	)		(595,887	)		52,162
Other income (expense)		(875	)		59,899			30,353			261,969
Income before income taxes		1,010,919			1,274,998			5,393,951			8,242,115
Provision for income taxes		761,000			578,000			2,513,000			3,201,000
Net income	$	249,919		$	696,998		$	2,880,951		$	5,041,115
Earnings per common share - Basic	$	0.02		$	0.04		$	0.19		$	0.31
Weighted average shares		14,367,000			15,882,000			15,213,000			16,094,000
Earnings per common share - Diluted	$	0.02		$	0.04		$	0.19		$	0.31
Weighted average shares		14,369,000			15,977,000			15,223,000			16,303,000
Cash dividends declared per common share	$	0.05		$	0.05		$	0.10		$	0.10

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Net sales by Market
(in thousands)
	Three months ended December 31,										Change From Prior Year
	2008					2007
	Amount		% of sales			Amount		% of sales			Amount			%
United States		19,448		88.0	%		21,132		85.7	%		(1,684	)		-8.0	%
Australia/New Zealand		585		2.6	%		854		3.5	%		(269	)		-31.5	%
Canada		359		1.6	%		437		1.8	%		(78	)		-17.8	%
Mexico		274		1.3	%		372		1.5	%		(98	)		-26.3	%
United Kingdom/Ireland		232		1.0	%		281		1.1	%		(49	)		-17.4	%
Philippines		618		2.8	%		834		3.4	%		(216	)		-25.9	%
Malaysia/Singapore		518		2.4	%		592		2.4	%		(74	)		-12.5	%
Germany		69		0.3	%		146		0.6	%		(77	)		-52.7	%
Consolidated total		22,103		100.0	%		24,648		100.0	%		(2,545	)		-10.3	%

Net sales by Market
(in thousands)
	Year ended December 31,										Change From Prior Year
	2008					2007
	Amount		% of sales			Amount		% of sales			Amount			%
United States		85,382		87.0	%		98,348		88.5	%		(12,966	)		-13.2	%
Australia/New Zealand		2,681		2.7	%		2,944		2.7	%		(263	)		-8.9	%
Canada		1,660		1.7	%		1,634		1.5	%		26			1.6	%
Mexico		1,543		1.6	%		1,526		1.4	%		17			1.1	%
United Kingdom/Ireland		1,023		1.0	%		1,062		1.0	%		(39	)		-3.7	%
Philippines		2,709		2.8	%		2,942		2.6	%		(233	)		-7.9	%
Malaysia/Singapore		2,692		2.7	%		1,765		1.5	%		927			52.5	%
Germany		505		0.5	%		837		0.8	%		(332	)		-39.7	%
Consolidated total		98,195		100.0	%		111,058		100.0	%		(12,863	)		-11.6	%

The following table sets forth, as of December 31, 2008 and 2007, the number of our active distributors and Master Affiliates and above.

The total number of active distributors includes Master Affiliates and above.  We define an active distributor as one that enrolls as a distributor or renews its distributorship during the prior twelve months.  Master Affiliates and above are distributors that have attained the highest level of discount and are eligible for royalties generated by Master Affiliates and above in their downline organization.

Growth in the number of active distributors and Master Affiliates and above is a key factor in continuing the growth of our business.

Active Distributors and Master Affiliates and above by Market
	As of 12/31/2008				As of 12/31/2007				Change in %
	Active Distributors		Master Affiliates and Above		Active Distributors		Master Affiliates and Above		Active Distributors			Master Affiliates and Above
United States		53,450		10,910		56,920		13,890		-6.1	%		-21.5	%
Australia/New Zealand		2,390		240		2,450		280		-2.4	%		-14.3	%
Canada		1,260		170		1,140		180		10.5	%		-5.6	%
Mexico		1,480		240		1,430		220		3.5	%		9.1	%
United Kingdom/Ireland		760		120		780		120		-2.6	%		0.0	%
Philippines		4,470		450		4,530		400		-1.3	%		12.5	%
Malaysia/Singapore		3,190		590		2,170		350		47.0	%		68.6	%
Germany		340		80		550		150		-38.2	%		-46.7	%
Consolidated total		67,340		12,800		69,970		15,590		-3.8	%		-17.9	%

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