Great Hill's Consent Solicitation Succeeds at Vitacost.com

BOSTON, July 15 /PRNewswire/ -- Great Hill Equity Partners IV, L.P. and certain of its affiliates ("Great Hill") today announced that it has received and delivered to Vitacost.com, Inc. (Nasdaq: VITC) ("Vitacost") and its registered agent written consents from more than the requisite majority of the outstanding shares of common stock of Vitacost necessary to adopt all three of its proposals in its pending consent solicitation.

As a result, following certification of the consents, which is expected to occur promptly, Eran Ezra, Stewart L. Gitler, David N. Ilfeld and Lawrence A. Pabst will be removed as directors of Vitacost and Christopher S. Gaffney, Mark A. Jung, Michael A. Kumin and Jeffrey M. Stibel will be elected to Vitacost's board.

"I want to thank Vitacost's stockholders for the confidence that they have expressed in the Great Hill nominees," said Michael A. Kumin. "With the holders of more than a majority of Vitacost's outstanding common stock consenting to our proposals, stockholders have sent a clear message that the time to improve Vitacost is now. We are committed to bringing better oversight to Vitacost's operations."

Christopher S. Gaffney stated, "As Vitacost's largest stockholder, Great Hill believes that Vitacost's prospects are bright and we're supportive of its ongoing efforts to grow its business. Now that the board has been reconstituted, we are confident that Vitacost's board will have the experience that it needs."

Under Delaware law, the consent proposals were adopted when valid and unrevoked consents representing a majority of the outstanding shares of common stock were delivered to Vitacost.

Although Great Hill has delivered what it believes to be sufficient consents for its proposals to be adopted, stockholders may continue to submit their WHITE consent cards until the consent solicitation expires or the results of the consent solicitation are certified by the independent inspectors of election.

About Great Hill Partners

Great Hill Partners is an investment firm that manages over $2.7 billion in capital and focuses on investing in growth companies operating in the business and consumer services, media, transaction processing and software industries. Great Hill Equity Partners IV, L.P. and its affiliates target equity investments of $50 million to $150 million. For more information, please visit the Great Hill Partners web site at www.greathillpartners.com.

SOURCE Great Hill Equity Partners IV, L.P. and certain of its affiliates