J. Heinz Company
(NYSE:HNZ):

Heinz announces strategic review of key businesses and
formation of Office of the Chairman.58, up 5.0 million after -tax)
recorded in the fourth quarter related to the anticipated disposition
of the HAK(R) vegetable product line in Northern Europe early in
Fiscal 2006 and $73.0%, reflecting a
1.6% for the fourth quarter, reflecting
the operating income improvement along with a reduced effective tax
rate offset partially by increased interest costs and currency losses. Foodservice segments and in U. Acquisitions , net of divestitures, increased sales
by 0.7% due to significant growth in
Ore-Ida(R) frozen potatoes and SmartOnes(R) frozen entrees. and jarred vegetables in Northern Europe.15 $ 2.5 $3,092.C. However , the acquisition should be accretive beginning
in the first quarter of Fiscal 2007.

turnovers retort

5
million, or $0. This is in line with the company's
strategic focus on its core categories: Ketchup, Condiments and
Sauces; Foodservice; Infant Nutrition; and Quick Serve Meals and
Snacks.6% for Fiscal 2005 versus 33. Foodservice segment increased 5.
Operating income increased 4. Favorable exchange
translation rates increased sales by 4.com and will be archived for playback beginning at 2 p. Moran - Senior Vice President and
President for Consumer Products; and Jack Runkel, Vice President -
Investor Relations .56 $ 2.21
Discontinued
operations 0.6 0.

frozen zoonen

Heinz Reports Full-Year Fiscal 2005 EPS from Continuing Operations of $2.34 up 6.4% Excluding Special Items and Operating Free Cash Flow of $920 Million

Bobby, Senior Vice President and General Counsel;

-- D.

FULL-YEAR FISCAL 2005 RESULTS

Heinz reported net income for the year of $752.3%.S. The increase in SG+A is
primarily due to exchange translation rates, higher fuel costs,
employee-related and litigation expenses and professional fees related
to various projects across the company, including costs associated
with compliance with Section 404 of Sarbanes-Oxley.
Lower pricing decreased sales 1. Volume increased sales
0.2 $0.5 $3,088.20
Write-down of U.0 0.04)
--------- --------- --------- ------- ------
Results from continuing
operations
excluding special items $8,414. Heinz Company and Subsidiaries
Non-GAAP Performance Ratios

The company reports its financial results in accordance with generally
accepted accounting principles ("GAAP").
(NYSE: RAH) announced today that it has completed the purchase of Parco Foods ,
L.L. Terms of the transaction were not disclosed.

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Excluding special items, EPS from
continuing operations was $0. Sales of our top 15 power brands grew by a robust 7.4% growth in the fourth
quarter. We continue to drive very strong Operating Free Cash Flow
through significant reductions in the cash conversion cycle and
disciplined capital processes.S.
The Office of the Chairman will be comprised of the four
senior-most executives responsible for operations globally, and the
heads of three global corporate functions. Moran - Senior Vice President and President for
Consumer Products;

-- The Executive Vice President for Asia/Pacific, to be named
later;

-- Arthur B .S.59 $ 0.14 $ 1. Foodservice 58,102 49,821 224,784 211,129
Europe 142,497 160,027 550,585 639,157
Asia/Pacific 27,868 34,161 135,588 146,190
Other Operating
Entities 9,664 7 ,750 34,739 29,934
Non-Operating (31,982) (40,844) (121,298) (121,282 )
----------- ----------- ----------- -----------
Consolidated Totals $ 342,172 $ 325,779 $1,354,842 $1,379,257
=========== =========== =========== ===========

Operating income (loss)
excluding special items:
North American
Consumer Products $ 136,023 $ 118,692 $ 530,444 $ 479,453
U.5 $874.1 $223. The following table provides
a reconciliation of the company's reported results from continuing
operations to the results excluding special items for the fiscal years
ended April 27, 2005 and April 28, 2004:

Fiscal year Ended April 27, 2005
-- ------------------------------------------

Net Gross Operating Per
Sales Profit Income Income Share
--------- --------- --------- ------- ------
Reported results from
continuing operations $8,912.4 $1,354.8 0.)

H. Ralcorp's diversified product mix includes: ready-to-
eat and hot cereals; snack mixes and corn-based snacks; crackers and cookies;
snack nuts; chocolate candy; salad dressings; mayonnaise; peanut butter; jams
and jellies; syrups; sauces; frozen griddle products including pancakes,
waffles, and French toast; frozen biscuits; and other frozen pre-baked
products such as breads and muffins.

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The company has set a target for Operating Free
Cash Flow of $900 million to $1 billion. The members, in addition to William R.

Reporting to the Office of the Chairman will be a Presidents
Council, comprised of the heads of the company 's largest business
units. Pricing increased sales 2.

ASIA PACIFIC

Sales in Asia/Pacific increased 3.

SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Heinz is a global family of leading brands, including Heinz (R)
Ketchup, Sauces, Soups, Beans, Pasta and Infant Foods (representing
nearly one-third of total sales or close to $3 billion), Ore-Ida(R)
french fries and roasted potatoes, Boston Market(R) and SmartOnes(R)
meals, and Plasmon(R) baby food.08 $ 2. J. Foodservice 5,839 4 ,932 22,550 15,310
Europe 3,707 3,292 17,328 13,644
Asia/Pacific 985 753 3,420 2,911
Other Operating
Entities 379 461 1,571 2,188
Non-Operating (24,188) (22,388) (96,611) (89,432)
----------- ----------- ----------- ---- -------
Consolidated Totals $ - $ - $ - $ -
=========== =========== =========== ===========

Operating income
(loss):
North American
Consumer Products $ 136,023 $ 114,864 $ 530,444 $ 474,129
U.56
Reorganization costs - - 11.5 $205.58
========= ======= ========= ======= ======

(Note: Totals may not add due to rounding.3 $3,206.8 $735.3 $1,381. However , management believes
that certain non-GAAP performance measures and ratios, used in
managing the business, may provide users of this financial information
with additional meaningful comparisons between current results and
results in prior periods.

Ralcorp Holdings Inc. Completes Purchase of Parco Foods L.L.C.

Parco Foods, which operates a baking
facility in Blue Island, Illinois (outside of Chicago) and employs
approximately 300 people, had net sales of approximately $50 million for the
year ended December 25, 2005.

Ralcorp produces a variety of store brand foods that are sold under the
individual labels of various grocery, mass merchandise and drug store
retailers , and frozen bakery products that are sold to restaurants and other
foodservice customers.

herschel schwan

58 in the year-ago
4th quarter, an increase of 8.27 last year. Heinz Company (NYSE:HNZ) today reported net income of $206.
Commenting on the company's performance, Heinz's Chairman,
President and CEO William R. Johnson said: "I am pleased to report
that we achieved many of our critical objectives in Fiscal 2005 and,
most importantly, enhanced the fundamentals of the company by
continuing to strengthen our brands, improve our management team and
streamline our organization.6%, with a 50 -basis-point improvement in
gross profit margin, as increased commodity and fuel costs were more
than offset by favorable volume, mix and pricing.
(Comments on the fiscal year that follow refer to results from
continuing operations, excluding special items.1 million charge for
prior-year trade spending for the Italian infant nutrition business,
and market price pressures impacting the Tegel(R) poultry business in
New Zealand and the trade in Northern Europe.5%, primarily due to favorable volume
and pricing, partly offset by increases in commodity costs and
increased S+D, which reflects a substantial increase in fuel and
trucking costs.3%. Winkleblack, Executive Vice President and
Chief Financial Officer; David C.

ABOUT HEINZ: H. J.10 $ 2.S.9 $0.01
Reorganization costs - - 17.

precooked bowels

1% and
finished the year even stronger with 8. Sales were
favorably impacted by volume growth of 1.
The call is available live via conference call at 1-866-215-1938
(listen only).59 $ 0.
(Totals may not add due to rounding)

H.63
========= ======= ========= ======= ======

Fourth Quarter Ended April 28, 2004
--------------------------- ---------------

Net Gross Operating Per
Sales Profit Income Income Share
---- ----- ------- --------- ------- ------
Reported results from
continuing operations $2,331 .8 $198.

sorbet schwan

S.

FISCAL 2006 OUTLOOK

Looking forward to Fiscal 2006, Heinz is targeting 4-6 % sales
growth and 7-10% growth in operating income.34 per share, a 6.7%,
largely due to reduced trade spending and decreased product placement
fees on SmartOnes(R) frozen entrees and Ore-Ida(R ) potatoes, as well
as increases related to Classico(R) pasta sauces and Heinz(R) ketchup. Heinz satisfies hungry consumers in every
outlet, from supermarkets to restaurants to convenience stores and
kiosks . Foodservice 58,102 51,221 224,784 215,029
Europe 169,473 161,072 577,561 615,403
Asia/Pacific 27,868 34,161 135,588 146,190
Other Operating
Entities 9,664 8,750 34,739 30,934
Non-Operating (31,982) (36,444) (121,298) (115,424)
----------- ----------- ----------- -----------
Consolidated Totals $ 369,148 $ 337,452 $1 ,381,818 $1,371,585
=========== =========== =========== ===========

The company's revenues are generated via the sale of products in the
following categories:

Ketchup, Condiments
and Sauces $ 877,580 $ 818,465 $3,234,229 $3,047,662
Frozen Foods 610,306 545,148 2,209,586 1,947,777
Convenience Meals 558,953 525,260 2,005,468 1,874,272
Infant Feeding 253,739 278,700 855,558 908 ,469
Other 147,914 163,799 607,456 636,358
----------- ----------- ----------- -----------
Total $2,448,492 $2,331,372 $8,912,297 $8,414,538
=========== =========== =========== ===========

H.7 $342.0 18.3 $3,233.9 $2. pizza
crust assets - 4. The following table provides
the calculation of those non-GAAP performance ratios discussed in the
company's press release dated May 26, 2005:

Net Debt Calculation
(amounts in thousands) April 27, April 28,
2005 2004
FY 2005 FY 2004
----------- -----------

Short-term debt $ 28,471 $ 11,434
Long-term debt,
including current
portion 4,666,782 4,962,996
----------- -----------
Total debt 4,695,253 4,974,430

Less:
Value of
interest rate
swaps (186,086) (125,324)
Cash and cash
equivalents (1,083,749) (1,140 ,039)
Short-term
investments - (40,000)
----------- -----------

Net Debt $3,425,418 $3,669,067
=========== ===========

Operating Free Cash
Flow Calculation
(amounts in thousands ) Fourth Quarter Ended Fiscal Year Ended
----------------------- --- --------------------
April 27, April 28, April 27, April 28,
2005 2004 2005 2004
FY 2005 FY 2004 FY 2005 FY 2004
----------- ----------- ----------- -- ---------
Cash provided by
operating
activities $ 654,647 $ 431,954 $1 ,160,793 $1,249,007
Capital expenditures (109,647) (112,144) (240,671) (231,961)

----------- ----------- ----------- -----------
Operating Free
Cash Flow $ 545,000 $ 319,810 $ 920,122 $1,017,046
=========== =========== =========== ===========

eggo rosina

consumer products and foodservice businesses, including Ore-Ida(R)
frozen potatoes, Delimex(R), Bagel Bites(R), TGI Friday's(R) frozen
snacks, Heinz(R ) ketchup and frozen soup, as well as the Latin
America, Australia and New Zealand businesses behind a number of new
product launches.4%.
The Office of the Chairman and the Presidents Council will enhance
global communications and coordination, and facilitate a process to
simplify and de-layer regional overhead.2% versus Fiscal 2004.9%, at the top end of the
company's range, and foreign exchange translation rates of 3.4% in Fiscal 2005, as the operating income
improvement along with the reduced effective tax rate were partially
offset by increased interest costs.9%, due to growth in Heinz(R ) ketchup, strong
performance on Truesoups(R) frozen soup and growth in custom recipe
tomato products . Lower pricing reduced sales 2.20
Discontinued
operations 0.7 $325.0 27.

NOTE: Information in this press release that includes information other
than historical data contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995.

paellas canapes

20 in the prior year. In addition, the company
continued to reduce net debt (total debt less cash and cash
equivalents, short-term investments and the value of interest rate
swaps ), with a reduction of $244 million in Fiscal 2005 versus 2004.
Volume was primarily driven by the success of the company's U.
Some of the brands involved in the strategic review will include:
John West(R), Weight Watchers from Heinz(R), Linda McCartney(R), Aunt
Bessie's(R) in the United Kingdom; Petit Navire(R) and Parmentier(R)
canned fish in France; Tegel(R) poultry products in New Zealand; Marie
Elisabeth(R) seafood in Portugal and Mareblu(R) seafood in Italy. Foodservice segments.
convenience meals.6%, despite higher commodity and
fuel costs, driven by favorable sales volume and higher net pricing.5%.5%, chiefly due to new product introductions in the frozen foods and
convenience meals categories in the Australia and New Zealand
businesses.m.J.com/news

H.07
----------- ----------- ----------- -----------
Net Income $ 0.S.7 $369. Non-GAAP financial measures should be viewed
in addition to, and not as an alternative for, the company's reported
results prepared in accordance with GAAP.0 2.1 11. During the
remainder of Fiscal 2006, the transaction is expected to be slightly dilutive
to earnings per share.

famer stouffers

63 versus $0. From continuing operations, EPS was $2.58 per diluted share, for its fourth quarter ended
April 27, 2005.
The company continued to generate impressive Operating Free Cash
Flow , posting $545 million in the fourth quarter and $920 million for
the fiscal year. See attached tables
for further details, including reconciliation of non-GAAP financial
measures.13
per diluted share, a decrease of 6. EPS
from continuing operations of $2.20 per share last
year.91 billion .S.7%, as the increase in gross profit was offset by
increased SG+A expenses in the current year.

S.9%. Heinz Company, offering "Good Food Every
Day(TM)," is one of the world's leading marketers and producers of
branded foods in ketchup, condiments, sauces, meals, soups, seafood,
snacks, and infant foods. Information on Heinz is available at
www.56 $ 2.01) 0. Heinz Company and Subsidiaries
Special Items - Fourth Quarters Ended April 27, 2005 and
April 28, 2004

The company reports its financial results in accordance with generally
accepted accounting principles ("GAAP").4 $0.3 $778.

precooked retort

Sales increased 5% and operating income , excluding special
items, increased 9.13 versus
$2. This represents a 5. The Cash Conversion Cycle for the fiscal year
improved by six days versus the prior year. Management believes that the adjusted GAAP measures provide
additional clarity in understanding the trends of the business as they
provide management with a view of the business excluding special
items.S. Sales volume
increased sales 2.9%. The following table provides
a reconciliation of the company's reported results from continuing
operations to the results excluding special items for the fourth
quarters ended April 27, 2005 and April 28, 2004:

Fourth Quarter Ended April 27, 2005
------------------------------------------

Net Gross Operating Per
Sales Profit Income Income Share
--------- ------- --------- ------ - ------
Reported results from
continuing operations $2,448.58
Asset impairment charge
for HAK vegetable
product line - 27.J.

famer zinetti

Business Editors

PITTSBURGH----H.5%
from $0.6% increase over earnings of
$0.
The special items in fiscal year 2005 are comprised of non-cash asset
impairment charges of $27. We achieved strong results in sales,
volume, cash flow, and EPS in Fiscal 2005. This
strategic review follows the successful transformation of our North
American businesses, and we expect, as a result, that Heinz will
become a faster-growing, even more focused company. were partially offset by lower
pricing in the Italian infant nutrition and Tegel(R) poultry
businesses.7 million, or $2. The gross profit margin declined by 50
basis-points, due to increased commodity and fuel costs, lower pricing
as discussed above , and increased production costs in the European
seafood business, partially offset by cost improvements in the U. The company's effective tax rate,
excluding special items, was 28.0% in the
prior year .K.K. Heinz's 50 companies have number-one
or number-two brands in 200 countries, showcased by Heinz (R) Ketchup,
the World's Favorite Ketchup(TM).00 (0.00 (0.2 $205.0 18.7 7.4 $820.
Parco will be added to Ralcorp's Frozen Bakery Products segment and will
enhance Ralcorp 's existing in-store bakery cookie offerings.

meatballs rolli

EPS increased 8.

OFFICE OF THE CHAIRMAN

Heinz has announced the formation of a new Office of the Chairman
to provide a stronger focus on growth and innovation and to better
leverage the global power of Heinz. Berger - Executive Vice President for Global
Foodservice;

-- Joseph Jimenez - Executive Vice President for Europe;

-- David C. Current year
and prior year results include after-tax earnings from discontinued
operations of $0.05 per share and $0. Favorable exchange
translation rates increased sales by 7.m. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by the securities laws. Heinz Company and Subsidiaries
Consolidated Statements of Income
(In Thousands, Except per Share Amounts)

Fourth Quarter Ended Fiscal Year Ended
----------------------- -----------------------
April 27, April 28, April 27, April 28,
2005 2004 2005 2004
FY2005 FY2004 FY2005 FY2004
----------- ----------- ----------- -----------

Sales $2,448,492 $2,331,372 $8,912,297 $8,414,538
Cost of products sold 1,600,801 1,510 ,656 5,705,926 5,326,281
----------- ----------- ----------- --------- --
Gross profit 847,691 820,716 3,206,371 3,088,257
Selling, general and
administrative
expenses 505,519 494,937 1,851,529 1,709,000
----------- ----------- ----------- -----------
Operating income 342 ,172 325,779 1,354,842 1,379,257

Interest income 7,598 7,411 27 ,776 23,312
Interest expense 61,605 51,572 232,431 211,826
Asset impairment
charges for cost and
equity investments - - 73,842 -
Other (expense)/
income, net (6,900) 12,827 (17,731) (22,192)

----------- ----------- ----------- -----------
Income from continuing
operations before
income taxes 281,265 294,445 1,058,614 1,168,551
Provision for income
taxes 76,078 96,061 322,792 389,618
----------- ----------- ----------- -----------
Income from continuing
operations 205,187 198,384 735,822 778,933
Income/(loss) from
discontinued
operations, net of
tax 1,300 (1,860) 16,877 25,340
----------- ----------- ----------- -----------
Net income $ 206 ,487 $ 196,524 $ 752,699 $ 804,273
=========== =========== =========== ===========
Income per common
share - Diluted
Continuing
operations $ 0.13 $ 2.07
----------- ----------- ----------- -----------
Net Income $ 0.6 $2., a Chicago-based manufacturer of high quality cookies for sale
primarily in the in-store bakery channel.

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J.63, is an 8.4% and in-line with previous guidance. We are particularly pleased
with our volume and sales momentum, especially in North America and
the Pacific, and expect this trend to continue into Fiscal 2006, given
the healthy consumption data that we are seeing in our core
businesses.5% volume improvement and the favorable impact of foreign exchange .35 to $2.

STRATEGIC REVIEW

Heinz has announced its intentions to sell the HAK(R) line of
prepared vegetables in Northern Europe and has commenced a strategic
review of its seafood and frozen businesses in Europe and its Tegel(R)
poultry businesses in New Zealand. Winkleblack, Executive Vice President and Chief
Financial Officer;

-- Theodore N. Smyth, Chief Administrative Officer and Senior
Vice President of Corporate and Government Affairs.20 per diluted share in the prior
year. FOODSERVICE

Sales of the U.

EUROPE

Heinz Europe's sales increased 4. Volume was essentially
flat, as increases in Heinz(R) ketchup, resulting from the successful
introduction of the Top Down bottle, and increases in Heinz(R)
ready-to-serve soups were offset by declines in European seafood,
frozen entrees in the U.heinz.01) 0.56 $ 2.08
=========== =========== =========== ===========

Note: Fiscal 2005 and 2004 include special items.05
--------- ------- --------- ------- ------
Results from continuing
operations excluding
special items $2,448. Heinz Company and Subsidiaries
Special Items - Fiscal Years Ended April 27, 2005 and April 28, 2004

The company reports its financial results in accordance with generally
accepted accounting principles ("GAAP").08
Asset impairment charges
for cost and
equity investments - - - 73.6 $779. These statements are
sometimes identified by their use of terms and phrases such as "should,"
"will ," "can," "believes," "could," "likely," "anticipates," "intends,"
"plans," "expects," "if," "would ," or similar expressions.

heisman zinetti

Management believes that the adjusted GAAP measures provide
additional clarity in understanding the trends of the business as they
provide management with a view of the business excluding special
items. These price decreases
were partially offset by favorable pricing in the North American
Consumer Products and U.
Operating income decreased 6. The acquisition of a
controlling interest in Shanghai LongFong Foods, a maker of popular
frozen Chinese snacks and desserts, increased sales 2. These forward-looking statements
reflect management's view of future events and financial performance. The forward-looking statements are and will be based on
management 's then current views and assumptions regarding future
events and speak only as of their dates.05 0.27 $ 1.5 $847.05
--------- --------- --------- ------- ------

Results from continuing
operations excluding
special items $8,912.0 4.3) (0. In addition, Ralcorp holds an interest of
approximately 20 percent in Vail Resorts , Inc.

turnovers sorbet

5% increase versus the fourth
quarter of Fiscal 2004 on a fully reported, total company basis .0 million pre-tax ($18. We are going to
place our focus and resources on our big brands with number -one and
number-two market positions and in four large developing markets.4% increase over earnings of $2.6%, primarily a result of higher volume
and favorable foreign exchange.

HIGHLIGHTS FOR FISCAL YEAR 2005

NORTH AMERICAN CONSUMER PRODUCTS

Sales of the North American Consumer Products segment increased
9. Strong
performance in Boston Market HomeStyle(R) meals and in the frozen
snack brands of Delimex(R), Bagel Bites(R) and TGI Friday's(R) also
contributed to the volume increase. Higher pricing increased sales by 1.
These statements are subject to risks, uncertainties , assumptions and
other important factors, many of which may be beyond Heinz's control
and could cause actual results to differ materially from those
expressed or implied in these forward-looking statements.55 $ 2.0 0.)

H.K. ST. LOUIS, Ralcorp Holdings, Inc.

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6% as pricing improvements in North
American Consumer Products and the U. The price declines in the Italian infant nutrition
business include an additional $13.
Gross profit increased 6.6%
for the fourth quarter of Fiscal 2005 versus 32.9%. It will be hosted by William R. Johnson, Chairman,
President + CEO; Arthur B.285 $ 0. However, management believes
that certain non-GAAP performance measures and ratios, used in
managing the business, may provide users of this financial information
with additional meaningful comparisons between current results and
results in prior periods.7 $337 .

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4% for the 4th quarter, driven by strong
performances in the North American Consumer Products and U. The
fourth quarter diluted earnings per share from continuing operations,
excluding special items of $0.34, up 6. Johnson added: "We have initiated a strategic review of our
international portfolio and our global organizational structure.
Net pricing increased sales 0. All will be based in
Pittsburgh . See attached tables
for further details, including reconciliation of non-GAAP financial
measures .9%, to $8. The
favorable volume impact was due primarily to strong increases in the
North American Consumer Products and U.
consumer products and foodservice businesses. Sales volume increased 5.3 %.3%.
Operating income decreased 7.

MEETING WITH SECURITIES ANALYSTS - INTERNET BROADCASTS

Heinz will host a conference call with security analysts today at
8:30 a.heinz.58 $ 0 . Foodservice 405,283 371,648 1,503,818 1,428,641
Europe 959,032 950,482 3,447,299 3,287,737
Asia/Pacific 344,751 331,895 1,307,675 1 ,258,556
Other Operating
Entities 116,362 106,823 396,643 374,667
----------- ----------- ----------- -----------
Consolidated Totals $2,448,492 $2,331,372 $8,912,297 $8,414,538
=========== =========== =========== ===========

Intersegment revenues:
North American
Consumer Products $ 13,278 $ 12,950 $ 51,742 $ 55,379
U.2 $0.J.8 $827.03
Gain on sale of the
Northern European
bakery business - - (28.

gateaux frozen

8 million recorded in the third quarter primarily
related to Heinz's investment in The Hain Celestial Group, Inc. Our outstanding free cash flow was also
accompanied by improved customer service and supply chain
efficiencies."
Mr.K.7% in the prior year. Edward I.1%, due to lower pricing as discussed
above, increased commodity and production costs, particularly in the
European seafood and the U.0% primarily due to
market price pressures on Tegel(R) poultry.29
=========== =========== =========== ===========
Average common shares
outstanding - basic 350,042 351,810 350,042 351,810
=========== =========== =========== ===========
Cash dividends per
share $ 0.0 27.02
--------- ------- --------- ----- -- ------
Results from continuing
operations excluding
special items $2,331.3 $1,379.

retort schwan

For the 4th quarter, Heinz's reported EPS was $0.

For the full fiscal year, Heinz reported EPS was $2.)
Sales for Fiscal 2005 increased 5.
Gross profit increased 4.
EPS increased 6.3%.
Operating income increased 10. (Eastern Time). Heinz Company and Subsidiaries
Segment Data

Fourth Quarter Ended Fiscal Year Ended
----------------------- -----------------------
April 27, April 28, April 27, April 28,
2005 2004 2005 2004
FY2005 FY2004 FY2005 FY2004
----------- ----------- ----------- -----------
Net external sales:
North American
Consumer Products $ 623,064 $ 570,524 $2,256,862 $2,064,937
U.4 $820.8 0. Non-GAAP financial measures should be viewed
in addition to, and not as an alternative for, the company's reported
results prepared in accordance with GAAP., the leading mountain resort
operator in the United States.

rosina herschel

For the full year, EPS from continuing operations, excluding
special items was $2.)
Overall, Heinz's fourth-quarter sales increased 5.45, as anticipated strong operating results
are expected to be partially offset by increases in interest costs and
a higher tax rate .07 per share, respectively. Lower
pricing decreased sales by 0.2%, principally due to the restage of
Heinz's Italian infant nutrition business, a $34.K.

HEINZ U. businesses, and increased G+A. The
increase in G+A is largely due to increased pension costs, litigation
costs and professional fees for various projects across Europe.4%.
Uncertainties contained in such statements include, but are not
limited to, sales, earnings, and volume growth, general economic,
political, and industry conditions, competitive conditions, which
affect, among other things, customer preferences and the pricing of
products, production, energy and raw material costs, the need for
product recalls, the ability to maintain favorable supplier
relationships, achieving cost savings programs and gross margins,
currency valuations and interest rate fluctuations, the ability to
execute and the success of acquisitions, joint ventures, divestitures
and other strategic initiatives, new product and packaging
innovations, product mix, the effectiveness of advertising, marketing,
and promotional programs , supply chain efficiency and cash flow
initiatives, the impact of e-commerce and e-procurement, risks
inherent in litigation (including the Remedia-related claims in Israel
and rights against third parties) and international operations,
particularly the performance of business in hyperinflationary
environments, changes in estimates in critical accounting judgments
and other laws and regulations , including tax laws, the success of
tax-planning strategies, the possibility of increased pension expense
and contributions and other people-related costs, the possibility of
an impairment in Heinz's investments, and other factors described in
"Cautionary Statement Relevant to Forward-Looking Information" in the
Company's Form 10-K for the fiscal year ended April 28, 2004, and the
Company 's subsequent filings with the Securities and Exchange
Commission.58 $ 0.S. Non-GAAP financial measures should be viewed
in addition to, and not as an alternative for, the company's reported
results prepared in accordance with GAAP.3 $1,371.20
========= ========= ========= ======= ======

(Note: Totals may not add due to rounding.

precooked frozen

55 last year.6%.0 million trade spending charge
related to prior years. These were partially offset by the discontinuation of an
Indonesian energy drink, declines in Tegel(R) poultry and sales
declines in China.0 0. In addition, if the Company cannot rapidly
execute its business plan for Parco Foods, the acquisition could be dilutive
into
Fiscal 2007.

rolli famer

Foodservice segments.

H.58 per share in the prior year. Operating income
increased 9.
The company's effective tax rate, excluding special items, was 27.08 per share represents a 5. Excluding special items, the current year fully diluted EPS was
$2. Operating income
increased 0.5%.8%, primarily due to the restage of
the Italian infant nutrition business, the trade spending charge in
the Italian infant nutrition business and increased promotional
activity in the Netherlands.3%, due primarily to reduced pricing
in Tegel.05 0.27
=========== =========== =========== ===========
Average common shares
outstanding - diluted 353,450 354,372 353,450 354,372
=========== =========== =========== ===========
Income per common
share - Basic
Continuing
operations $ 0.S.21
Asset impairment charge
for HAK vegetable
product line - 27.34
========= ========= ========= ======= ======

Fiscal Year Ended April 28, 2004
-- ------------------------------------------

Net Gross Operating Per
Sales Profit Income Income Share
--------- --------- --------- ------- ------
Reported results from
continuing operations $8,414.8) (13.5 $2. Any such
forward-looking statements are made based on information currently known and
are subject to various risks and uncertainties and are therefore qualified by
the Company's cautionary statements contained in its filings with the
Securities and Exchange Commission.

heisman meatballs

08
versus $2."

FOURTH QUARTER FISCAL 2005 RESULTS

(Comments on the fourth quarter that follow refer to results from
continuing operations, excluding special items.

These improvements were partially offset by volume
declines in Heinz Europe. EPS is expected to be in
the range of $2. Johnson, are:

-- Jeffrey P.5%
decrease versus the earnings of $2. The
divestiture of a Korean oils and fats product line reduced sales 1. The call will be webcast live on
www.J. However, management believes
that certain non-GAAP performance measures and ratios, used in
managing the business, may provide users of this financial information
with additional meaningful comparisons between current results and
results in prior periods.8 $2.