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RJR NABISCO NAMES HARPER CHAIRMAN AND CEO

 NEW YORK, May 27 /PRNewswire/ -- RJR Nabisco Holdings Corp. (NYSE: RN) today announced that its board of directors has named Charles M. Harper to be the company's new chairman and chief executive officer.
 Harper, currently chairman of ConAgra, Inc., will assume his new position on May 31.
 The company said that Lawrence R. Ricciardi, currently a co-chairman of the company, has accepted the new position of president. Karl M. von der Heyden, also currently a co-chairman, has decided to retire from the company. Ricciardi and von der Heyden were appointed co-chairmen of RJR Nabisco on March 26 after former chairman Louis V. Gerstner Jr. was named CEO of International Business Machines Corporation.
 "The board is grateful to both Karl and Larry for the outstanding job they have done leading the company through a critical transition period after Lou Gerstner's departure," said Henry R. Kravis, founding partner of Kohlberg Kravis Roberts & Co. and an RJR Nabisco director.
 "All of the company's businesses are performing well, which is quite an accomplishment, given the current competitive environment," Kravis continued. "The board concluded that the company is positioned to aggressively pursue its growth agenda under Mike Harper's leadership as a highly experienced chief executive with a strong background in consumer products.
 "Mike has had a long and successful relationship with both KKR and RJR Nabisco, starting with ConAgra's acquisition of several RJR Nabisco frozen food brands in 1986 and the acquisition of Beatrice from KKR in 1990. He worked with several of our executives who served on the ConAgra board through 1992, so we've seen his management style up close. We are certain he'll be a dynamic leader at RJR Nabisco," Kravis concluded.
 Harper has been chairman of Omaha-based ConAgra since 1981 and was chief executive officer of the company from 1976 to 1992. He joined ConAgra in 1974 as executive vice president and chief operating officer after holding positions at General Motors and Pillsbury. Over the past 10 years, ConAgra's sales have grown at a compounded annual rate of 29 percent, its earnings grew at a 27 percent rate and the company became the second-largest food company in the United States. For its fiscal year ending May 31, 1992, the company reported its 12th consecutive year of record earnings per share and ranked fourth among the Fortune 100 companies in 10-year average annual return to investors, at 33.4 percent.
 Harper is a director of Valmont Industries, Inc., Norwest Corp., Peter Kiewit Sons', Inc., and E.I. DuPont de Nemours and Co. He graduated from Purdue University in 1949 with a B.S. degree in engineering and received his M.B.A. from the University of Chicago in 1950.
 "RJR Nabisco is one of the great financial turnaround stories in American business history," Harper said. "I look forward to leading the company through its new set of priorities over the coming years, most notably, its efforts to grow its domestic and international operations. With a stable of established brands that are household names and a top- notch management group that's brought the company far, we have more than enough ammunition to see this task to completion."
 Ricciardi joined RJR Nabisco as executive vice president and general counsel in 1989 after serving as executive vice president and general counsel at American Express Travel Related Services Company, Inc.
 "I speak for the entire management team in saying we look forward to working closely with Mike as he becomes more familiar with our food and tobacco operations. I'm confident that, together, we can map out an exciting game plan to add value to our businesses," Ricciardi said.
 RJR Nabisco Holdings Corp. is the parent company of RJR Nabisco, Inc., an international consumer products company. RJR Nabisco's major operating units are R.J. Reynolds Tobacco Co., R.J. Reynolds Tobacco International, Inc., the Nabisco Foods Group, and Nabisco International, Inc.
 -0- 5/27/93
 /CONTACT: Jason Wright of RJR Nabisco, 212-258-5770/
 (RN)


CO: RJR Nabisco Holdings Corp. ST: New York IN: TOB SU: PER

BN-TG -- AT013 -- 3185 05/27/93 17:53 EDT
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Date:May 27, 1993
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