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RJR NABISCO NAMES RICCIARDI, VON DER HEYDEN TO NEW OFFICE OF THE CHAIRMAN

 NEW YORK, March 26 /PRNewswire/ -- RJR Nabisco Holdings Corp. (NYSE: RN) today announced that it has created an office of the chairman and appointed Lawrence R. Ricciardi and Karl M. von der Heyden as co- chairmen and chief executive officers.
 Ricciardi, currently the company's executive vice president and general counsel, and von der Heyden, currently executive vice president and chief financial officer, will jointly oversee the company through the new office. The two executives also will continue to directly manage their respective legal and finance functions and the company's major operating units will continue to be led by their respective managements.
 RJR Nabisco said the appointments, which are effective immediately, followed the decision of former chairman Louis V. Gerstner Jr. to leave RJR Nabisco to head International Business Machines Corporation. The company said Gerstner will remain on its board of directors.
 "Over the past four years RJR Nabisco's board of directors has worked very closely with Lou Gerstner to build one of the most talented senior management teams in corporate America," said Henry R. Kravis, founding partner of Kohlberg Kravis Roberts & Co. and an RJR Nabisco director. "As the most senior corporate members of that team, Karl and Larry have developed and implemented much of the company's refinancing strategy and worked very closely with their colleagues who head the food and tobacco units on virtually every important business issue.
 "We are, of course, sad to see Lou Gerstner go to IBM," Kravis continued, "but we also understand that this truly is a unique opportunity for both Lou and for IBM. The dynamic teams we have in place at both the operating and corporate levels are well prepared to continue moving RJR Nabisco forward. Having already resolved the company's most critical financial issues and developed sound business strategies that are working well, I have every confidence that their efforts to build additional value for shareholders also will be successful."
 Kravis noted that Kohlberg Kravis Roberts & Co. will continue to have a meaningful stake in the company and is committed to maintaining its active involvement in the company's efforts to increase shareholder value.
 "Leaving RJR Nabisco was the most difficult decision of my life," said Gerstner. "We have accomplished more over the past four years than anyone thought possible and I have enjoyed every minute I've worked there.
 "The management team I leave behind is as strong as any and clearly focused on continuing to build RJR Nabisco. I'm excited about the company's prospects and look forward to giving the management team my full support as both a director of the company and as a major shareholder."
 RJR Nabisco said its annual meeting of shareholders will be held on April 2 with Ricciardi and von der Heyden presiding. The company said it does not expect the management changes to have an effect on its plan to create a separate class of common stock related to the performance of its worldwide food businesses and pay dividends on its existing class of common stock and the food-related stock.
 von der Heyden, 56, joined RJR Nabisco in 1989 from H.J. Heinz Company, where he was senior vice president and chief financial officer. Prior to joining Heinz in 1980, he was vice president of manufacturing for the Pepsi-Cola Bottling Group.
 A native of Berlin, von der Heyden graduated from Duke University and received an M.B.A. from the Wharton School of the University of Pennsylvania.
 Ricciardi, 52, also joined RJR Nabisco in 1989 after serving as executive vice president and general counsel at American Express Travel Related Services Company, Inc., where he managed a group of staff functions in addition to the company's law department. He joined American Express Company in 1973 as international counsel, became general counsel at American Express International Banking Corp. in 1975 and was assistant general counsel for American Express Travel Related Services Co. from 1977 to 1982, when he became general counsel. Prior to joining American Express, Ricciardi was counsel for the Overseas Private Investment Corporation and before that counsel for the U.S. Department of State's Agency for International Development.
 Ricciardi graduated from Fordham University with an A.B. in literature. He attended the East Asian Institute of Columbia University Chinese language and cultural program and received his J.D. from Columbia University in 1965. Ricciardi was a Fulbright Teaching Fellow in Law at the University of Rome, Italy, from 1965 to 1966.
 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- 3/26/93
 /CONTACT: Jason Wright of RJR Nabisco, 212-258-5770/
 (RN IBM)


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

BR-BN -- AT005 -- 0010 03/26/93 10:40 EST
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Date:Mar 26, 1993
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