This is totally legit. I just ordered it myself. You get a year of Weight Watchers magazine for only $2.99.
Here's the link: http://www.tanga.com/products/weight-watchers-magazine-subscription--6?utm_source=Tanga+Newsletter&utm_campaign=4625652480-Tanga_s_June_Newsletter_June_17th_20106_16_2010&utm_medium=email
You can even buy multiple years for the same price.
When you first click the link, it'll say the subscription price is $14.99 but if you type in LOSE in the Coupon Code field (and click "continue" to update your cart) the price will change to $2.99.
Pass this along to everyone you know. The coupon code doesn't stay good for very long. Sometimes these coupon codes will change, too, and you'll get it for $3.99 or $4.99. So act fast!!