Heinz H J Co · 8-K · For 6/23/95 · EX-99

Filed On 7/10/95   ·   SEC File 1-03385   ·   Accession Number 950132-95-226

Current Report   ·   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2     10K 
 2: EX-10       Agreement of Register                                 20     49K 
 3: EX-99       News Release                                           2      8K 

EX-99   ·   News Release

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                                                                      EXHIBIT 99

Howard Heinz Endowment, Vira I. Heinz Endowment and Heinz Family Foundation   
Announce Plans to Diversify Assets  

Pittsburgh, PA June 23, 1995 - The Howard Heinz Endowment, the Vira   
I. Heinz Endowment, the Heinz Family Foundation and certain Heinz family        
trusts today announced their intention to diversify their investment portfolios 
by selling a portion of their common stock holdings in the H. J. Heinz Company  
through an underwritten secondary offering for up to an aggregate of            
approximately 13.5 million shares. The offering will be made by means of        
a prospectus only and is expected to occur in August. The H. J. Heinz Company   
has agreed to file a registration statement with the Securities and Exchange    
Commission to facilitate the offering.                                          

Commenting on the planned diversification, Anthony J. F. O'Reilly,    
chairman, president and chief executive officer of H. J. Heinz Company,         
said: "We understand the charities' fiduciary obligation to diversify, and      
we are happy to assist them."                                                   

Teresa Heinz, chairman and chief executive officer of the Howard Heinz
Endowment and the Heinz Family Foundation and a director of the Vira I.         
Heinz Endowment, stated: "The Endowments and the Foundation have for many       
years held shares of Heinz common stock as their principal asset. During        
this time, both the Heinz Company and the stock have performed extremely        
well. However, diversification remains a key principle of prudent investing,    
and we                                                                          

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believe selling a portion of our holdings in order to diversify our assets      
is a prudent course of action at this time."                                    

"The Endowments' and the Foundations' continued confidence in the     
H. J. Heinz  Company is reflected by the fact that upon completion of their     
current portfolio diversification programs, the Endowments and the Foundation   
will hold the majority of the Heinz shares they now own and that they, together 
with the family interests, will continue to be the largest group of H. J.       
Heinz Company shareholders," Mrs. Heinz added.                                  

The Heinz Family Foundation and the Heinz Endowments are based in     
Pittsburgh, PA. Their combined assets place them among the nation's 25 largest  
private, charitable foundations. The Heinz Endowments' grant making is focused  
on the areas of arts and culture, community and economic development,           
education, health and human services, and the environment. The principal        
activity of the Heinz Family Foundation is the administration of the Heinz      
Awards, a program recognizing individual excellence and achievement.            

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Dates Referenced Herein   and   Documents Incorporated By Reference

				Referenced-On Page
This 8-K Filing		Date		First		Last			Other Filings
For The Period Ended		6/23/95		1					SC 13D
Filed On / Filed As Of		7/10/95
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