H.J. Heinz Company (ticker: HNZ, exchange: New York Stock Exchange (.N))
News Release -
Heinz to Extend Participation in Employee Stock Purchase Plan to Employees Around the WorldPITTSBURGH, Jan 25, 2002 (BUSINESS WIRE) -- For the past two years, employees
at the H.J. Heinz Company (NYSE:HNZ) have had an opportunity to increase their
stake in their employer through the Heinz Global Stock Purchase Plan (GSPP).
Following approval of the GSPP by Heinz shareholders at the annual meeting on
September 9, 1999, the number of employees participating in the plan has
continued to grow.
Heinz employees in North America, Australia/New Zealand and the United Kingdom
are already participating, and employees in additional countries will be invited
to join the plan during 2002.
The GSPP allows employees across the world to authorize deductions from their
pay over a six-month period, to be used for the purchase of shares of Heinz
common stock. At the end of the period, these payroll deductions are converted
to Heinz common stock, which is then placed in an account owned by the employee.
The GSPP allows employees to purchase Heinz stock at 85% of the market price at
either the beginning or end of the same six-month period, whichever is lower.
ABOUT HEINZ: With sales approaching US$10 billion and a pantheon of icon brands,
H.J. Heinz Company is one of the world's leading marketers of high quality
ketchup, sauces, meals, soups, snacks and infant foods to consumers everywhere,
whether in supermarkets, restaurants or on the go. Its 50 companies operate in
some 200 countries, with more than 20 power brands, including the Heinz(R) brand
with nearly US$3 billion in annual sales. Among the company's famous brands are
Heinz(R), StarKist(R), Ore-Ida(R), 9-Lives(R), Wattie's(R), Plasmon(R),
Classico(R), Smart Ones(R), Bagel Bites(R), Delimex(R), Poppers(R), John
West(R), Petit Navire(R), Kibbles `n Bits(R), Pounce(R), Pup-Peroni(R),
Orlando(R), ABC(R), Olivine(R), Jufran(R) and Pudliszki(R). Heinz also uses the
famous brands Weight Watchers(R), Boston Market(R), TGIF(R) and Linda
McCartney(R) under license. Information on Heinz is available at
SVP-Corp. & Govt. Affairs: Ted Smyth, 412/456-5780
Director-Corp. Comm.: Debbie Foster, 412/456-5778
GM-Strategic Comm.: Jack Kennedy, 412/456-5923
INVESTORS: Jack Runkel, 412/456-6034
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