Heinz Completes Sale of European Seafood Business to Lehman Brothers Merchant Banking for EUR 425 million.

PITTSBURGH & LONDON -- H.J. Heinz Company (NYSE:HNZ) today announced that it has completed the sale of its European Seafood business to Lehman Brothers Merchant Banking for EUR 425 million.

William R. Johnson, Heinz Chairman, President and Chief Executive Officer commented: "This sale is an important step in the Company's global strategy to drive profitable growth and innovation in three core categories where Heinz has strong brands: Ketchup and Sauces; Infant Nutrition; and Meals and Snacks. In Europe specifically, Heinz has been streamlining its organizational structure and divesting non-core businesses like Seafood, the HP Foods Limited Ethnic business and the HAK(R) vegetable business to create a more focused portfolio that will accelerate growth and deliver improved margins."

The sale includes three major brands - John West(R) in the UK, Ireland and The Netherlands; Petit Navire(R) in France; and Mareblu(R) in Italy - and a reduction of approximately 5,000 employees at four seafood processing facilities in Ghana, The Seychelles, Douarnenez, France and Peniche, Portugal.

On February 21, 2006, Heinz announced that it had reached a definitive agreement to sell its European Seafood business to Lehman Brothers Merchant Banking. Following this date, the transaction was approved by the European Commission. The February 21 press release can be viewed on the Heinz web site at www.heinz.com. The plan to divest the European Seafood business was initially announced on September 20 when Heinz unveiled its strategy for growth plan.

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. These forward-looking statements reflect management's view of future events and financial performance. 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. 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 ability to identify and anticipate and respond through innovation to consumer trends, the need for product recalls, the ability to maintain favorable supplier relationships, achieving cost savings and gross margins objectives, currency valuations and interest rate fluctuations, change in credit ratings, the ability to identify and complete and the timing, pricing and success of acquisitions, joint ventures, divestitures and other strategic initiatives, approval of acquisitions and divestitures by competition authorities, and satisfaction of other legal requirements, the results of shareholder proposals, the success of Heinz's growth and innovation strategy and the ability to limit disruptions to the business resulting from the emphasis on three core categories and potential divestitures, the ability to effectively integrate acquired businesses, new product and packaging innovations, product mix, the effectiveness of advertising, marketing, and promotional programs, supply chain efficiency and cash flow initiatives, risks inherent in litigation, including tax litigation, 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 27, 2005. 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.

ABOUT HEINZ: H.J. 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. Heinz satisfies hungry consumers in every outlet, from supermarkets to restaurants to convenience stores and kiosks. 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), HP(R) and Lea & Perrins(R), Ore-Ida(R) french fries and roasted potatoes, Boston Market(R) and Smart Ones(R) meals, and Plasmon(R) baby food. 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). Information on Heinz is available at www.heinz.com/news.