EXHIBIT 99

SYNERGY BRANDS REVENUES INCREASE BY 28% TO $40.4 MILLION

Q4 REVENUES INCREASE BY 21% TO $12.3 MILLION

Synergy Brands Inc.  NASDAQ:  SYBR
Melville, New York
January 29, 2004

Boosted by strong wholesale and retail sales,  Synergy Brands increased revenues
for the  fourth  quarter of 2003 by 28% to $12.3  million.  In  particular,  the
Company  generated  better  than  expected  sales  growth in its Grocery and HBA
(Health  and  Beauty  Aids)  operations  within its PHS Group  Subsidiary  (BtoB
operations).   The  Company  attributes  this  growth  to  strong   manufacturer
promotional  support,  increase in the Company's  over-the-counter  (OTC) Health
care  distribution  business,  the  acquisition  of Cigars  Around the World and
improved  online sales (BtoC  operations).  The Company expects that its revenue
growth  should  have a positive  effect on  earnings  for Fiscal  2004 as future
promotional support from vendors is customarily related to historical sales. The
Company  anticipates  providing  its  guidance  for FY 2004 and to  release  its
results as filed in its 10K-SB by March 31, 2004.

About Synergy Brands:

Synergy  Brands is a holding  company  that  distributes  groceries,  health and
beauty  aids,  fragrances  and hair care  products  and premium  cigars  through
wholesaling operations and proprietary web sites,  including  www.cigargold.com;
www.netcigar.com;    www.CigarsAroundTheWorld.com;    www.BeautyBuys.com;    and
www.dealbynet.com.   For  more   information   on  Synergy   Brands,   log  onto
www.sybr.com.

FORWARD LOOKING STATEMENTS

This press  release  and  company  review and  assumptions  made  regarding  the
financial  figures and other  information  references 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 derivations 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 and unknown risks and  uncertainties.  For a description
of many of these risk 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
                  b.jedynak-janispr@att.net