Exhibit 99.1

Heinz Reports Strong Third-Quarter Results with EPS from Continuing Operations up 9% to $0.83

PITTSBURGH--(BUSINESS WIRE)--February 25, 2010--H.J. Heinz Company (NYSE:HNZ):

Third-Quarter FY10 Highlighted Results from Continuing Operations:

• Reported sales grew almost 13% to $2.68 billion
• Emerging Markets delivered more than 15% organic sales growth (18% reported)
• Top 15 brands generated better than 5% organic sales growth (15.2% reported)
• 19^th consecutive quarter of organic sales growth (3%)
• Gross profit margin improved 180 basis points
• Marketing investments increased 41%
• Operating income grew approximately 14% to $437 million
• $0.83 EPS from Continuing Operations increased more than 9% despite higher tax rate
• Operating Free Cash Flow increased 88% to $439 million
• Heinz on track to deliver its recently increased full-year EPS outlook of $2.82 to $2.85 from continuing operations

Reconciliations of non-GAAP amounts are set forth in the attached financial tables. Organic sales are defined as volume plus price or total sales growth excluding the impact of foreign exchange and acquisitions and divestitures. Operating Free Cash Flow is defined as cash from operations less capital expenditures net of proceeds from disposal of Property, Plant & Equipment. Also, constant currency as used in this press release is defined as the reported amount adjusted for translation (the effect of changes in average foreign exchange rates between the current period and the corresponding prior year), the impact of the fluctuation in the British Pound versus the Euro and U.S. Dollar cross rates on U.K. transaction costs (impact of currency on particular transactions such as raw material sourcing), and the impact of current and prior year foreign currency translation hedges.

H.J. Heinz Company (NYSE:HNZ) today reported exceptionally strong third-quarter results, with dynamic growth of 12.7% in sales, 13.8% in operating income and 9.2% in earnings per share from continuing operations.

For the fiscal third quarter ended January 27, 2010, Heinz reported sales of $2.68 billion, operating income of $437 million and EPS of $0.83 from continuing operations. The Company’s performance was driven by organic sales growth, and improved gross margin (up 180 basis points) resulting from productivity improvements and higher net pricing. EPS growth for the quarter was favorably impacted by $0.01 from net currency movements. Operating free cash flow increased 88% to $439 million, reflecting Heinz’s strong profit growth and its strategic focus on cash.

Top-line growth for continuing operations was fueled by:

• Organic sales growth of 15.5% (18.0% reported) in Emerging Markets, led by higher sales in Indonesia, Russia and India;
• 5.3% organic sales growth (15.2% reported) in the Company’s Top 15 brands; and
• Strong volume growth of 4.3% in U.S. Retail and 9.1% in the U.K. as Heinz increased its third-quarter marketing investments by 41% to drive volume growth and strengthen brand equity.

Heinz Chairman, President and CEO William R. Johnson said: “Our excellent third-quarter performance reflects strong execution of our strategy to accelerate growth in Emerging Markets and increase consumer marketing and innovation to drive volume growth in key developed markets, especially the U.K. and U.S. retail businesses. After delivering our 19^th consecutive quarter of organic sales growth, Heinz remains on track to deliver our recently increased Fiscal 2010 EPS outlook of $2.82 to $2.85 from continuing operations.”

Third-Quarter Results from Continuing Operations

Heinz delivered global organic sales growth of 3.0% (reported 12.7%), led by the 15.5% organic (18% reported) growth in Emerging Markets.

The dynamic growth in Emerging Markets was led by higher sales of Complan® and Glucon D® nutritional beverages in India, ABC® brand sauces and beverages in Indonesia, and Heinz® Ketchup in Russia, the world’s second-largest ketchup market, where Heinz now holds the number-one share.

Total volume increased 1.2% as growth in U.S. Retail and the U.K. was partially offset by lower volume in Australia and U.S. Foodservice. Volume in U.S. Foodservice reflected industry trends and the Company's efforts to simplify the business through SKU reductions.

Net pricing increased sales by 1.8%, primarily reflecting the carryover impact of price increases taken in the fourth quarter of Fiscal 2009 across the Company’s portfolio to help offset increased commodity costs.

Acquisitions, net of divestitures, increased sales by 2.9%, driven largely by the prior year acquisition of Golden Circle in Australia. Foreign exchange translation rates increased sales by 6.9% compared with the third quarter of the prior year.

Gross profit margin increased 180 basis points to 37.5%, reflecting productivity improvements, along with higher net pricing and volume. Input costs rose approximately 4%, reflecting higher costs for commodities such as potatoes, oils, glass and tinplate, and the impact of transaction currency costs.

SG&A increased 21.7% in the quarter, reflecting a 41% increase in marketing investments, a $30 million impact from foreign exchange translation rates, acquisitions, higher pension expenses and the timing of variable compensation accruals.

The Company’s 13.8% growth in operating income largely reflected organic sales growth, productivity improvements and the favorable impact from foreign exchange translation rates, partially offset by higher SG&A and commodity costs.

Other expenses were up $20 million due to prior year currency gains.

The effective tax rate for the third quarter of Fiscal 2010 was 27.2%, up 130 basis points from 25.9% a year ago.

EPS from continuing operations was $0.83, up 9.2% versus year ago. Including discontinued operations (discussed below), Heinz reported third-quarter net income of $229 million, or $0.72 per share versus $242 million, or $0.76 per share in the third quarter of Fiscal 2009.

Discontinued Operations

In the third quarter of Fiscal 2010, the Company sold two businesses, whose operating results have been included in discontinued operations:

• Appetizers And, Inc., a frozen hors d’oeuvres business in the U.S. Foodservice segment, resulting in a $15 million pre-tax ($10 million after-tax) loss; and
• The private label frozen desserts business in the U.K., resulting in a $31 million pre-tax ($24 million after-tax) loss.

The divestiture of these businesses is not expected to have a material effect on the ongoing profitability of the Company.

Third-Quarter Marketing Highlights

Heinz increased innovation and marketing to further strengthen its brand equity and meet the quality, value and convenience needs of consumers worldwide. Highlights included:

• It has to be Heinz, a new integrated marketing campaign supporting the family of Heinz brand products in the U.K., helped drive robust third-quarter volume growth while further strengthening the number-one share positions of Heinz soup and beans. In January 2010, a record 57 million cans of Heinz soup were sold in the U.K.
• In the U.S., the Consumer Value Program, a marketing initiative that includes consumer coupons, promotions and increased advertising, helped drive retail volume growth. The campaign primarily focused on Heinz® Ketchup in the third quarter and is now expanding to support Weight Watchers® Smart Ones®, Ore-Ida®, Classico® and T.G.I. Friday's®.
• Heinz® Ketchup held strong number-one shares in 7 of the world’s Top 10 ketchup markets, including the U.S.
• Ore-Ida®, the number-one brand of frozen potatoes in the U.S., launched a new four-pound value package of its popular French fries and made plans to launch Ore-Ida® Sweet Potato Fries.
• In India, Complan® continued to expand its fast-growing line of nutritional beverages with new products for children’s health.
• In Indonesia, ABC introduced new varieties of chili sauce and Mr. Jussie, a healthy beverage for children.
• In China, Heinz prepared to launch its first infant formula in that key Emerging Market, where the Heinz brand of baby food has high awareness and trust among mothers.
• In Russia, Heinz achieved record share in ketchup of 29.2% and market leadership in baby cereal. Heinz is preparing to launch infant formula in Russia as well.
• In February 2010, Heinz announced Dip & Squeeze, a new dual-function foodservice package for Heinz® Ketchup. This breakthrough allows consumers to peel back the label for easy dipping or tear off the tip to squeeze Heinz® Ketchup on their favorite foods.
• Heinz also announced Simply Heinz, a new variety of Heinz® Ketchup made with sugar instead of high fructose corn syrup to give U.S. consumers another great tasting dietary and lifestyle choice.

Third-Quarter Results from Continuing Operations, By Segment

North American Consumer Products

Sales increased 7.0% to $815 million. Volume increased 2.8%, led by U.S. Retail and partially offset by lower volume in Canada. Higher volume in the U.S. reflects new product introductions, increased investments in marketing and promotions, and the timing impact of price increases taken in the prior year. Net price grew 1.0% reflecting the carryover impact of price increases, partially offset by increased promotional spending. Favorable exchange translation rates increased sales 3.0%. Operating income grew 8.2% to $207 million.

Europe

Sales grew 12.1% to $878 million. Volume increased 3.0%, largely due to increased marketing and promotional activities in the U.K. Net price decreased 0.5%, as increased promotional activity was largely offset by the carryover impact of price increases. Favorable foreign exchange translation rates increased sales by 9.7%, while negative foreign exchange transaction rates virtually offset these benefits at operating income. Operating income increased 14.8% to $156 million.

Asia/Pacific

Sales increased 41.1% to $500 million. Volume increased 2.5%, as new products, increased marketing and higher consumer demand drove significant growth, particularly in Indonesia, China and India, while volume in Australia declined. Net price increased 0.3%. Acquisitions increased sales 18.5% due to the prior year acquisitions of Golden Circle and La Bonne Cuisine. Favorable exchange translation rates increased sales by 19.9%, largely due to strengthening in the Australian dollar and New Zealand dollar. Operating income increased 51.1% to $48 million.

U.S. Foodservice

Sales of the U.S. Foodservice segment decreased 3.0% to $355 million. Net price increased sales 4.3%, while volume decreased by 7.3%, reflecting softness in U.S. restaurant traffic, promotional timing and ongoing SKU eliminations. Operating income increased 19.3% to $42 million, and benefited from operational improvements in the business, lower commodity costs and a streamlined product portfolio.

Rest of World

Sales increased 17.1% to $133 million. Net price increased sales by 19.0%, largely due to Latin America pricing to mitigate the impact of raw material and labor inflation. Volume increased 1.6% as increases in the Middle East and South Africa more than offset declines in Latin America. Acquisitions increased sales 1.0% due to the acquisition of Papillon in South Africa in the fourth quarter of Fiscal 2009. Foreign exchange translation rates decreased sales 4.6%, largely due to the devaluation of the Venezuelan Bolivar Fuerte late in the third quarter of this year. Operating income increased 42.3% to $17 million.

Year-to-Date (Continuing Operations)

In the nine months ended January 27, 2010, sales increased $275 million, or 3.7%, to $7.77 billion, reflecting net price of 4.2%, offset by a net volume decline of 2.3%. Operating income increased 4.3% to $1.21 billion.

EPS from continuing operations was $2.27, down 3.4% versus a year ago. Including discontinued operations, total net income attributable to H.J. Heinz Company was $673 million, or $2.11 per diluted share, compared with $748 million, or $2.34 per diluted share a year ago. EPS movement for the year was unfavorably impacted by $0.33 from net currency movements.

MEETING WITH SECURITIES ANALYSTS – INTERNET BROADCASTS

Heinz will host an investor and analyst call today at 8:30 a.m. (Eastern Time). The call will be Webcast live on www.heinz.com and will be archived for playback. Participants (institutional investors and analysts) can call (800) 933-5758 in the U.S. and Canada. A listen-only broadcast for media is available on (800) 955-1760. Corresponding slides will be available for this call on www.heinz.com. The conference call will be hosted by Art Winkleblack, Executive Vice President and Chief Financial Officer.

SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS:

This press release and our other public pronouncements contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by the words “will,” “expects,” “anticipates,” “believes,” “estimates” or similar expressions and include our expectations as to future revenue growth, earnings, capital expenditures and other spending, dividend policy, and planned credit rating, as well as anticipated reductions in spending. 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. Factors that could cause actual results to differ from such statements include, but are not limited to:

• sales, earnings, and volume growth,
• general economic, political, and industry conditions, including those that could impact consumer spending,
• competitive conditions, which affect, among other things, customer preferences and the pricing of products, production, and energy costs,
• competition from lower-priced private label brands,
• increases in the cost and restrictions on the availability of raw materials, including agricultural commodities and packaging materials, the ability to increase product prices in response, and the impact on profitability,
• the ability to identify and anticipate and respond through innovation to consumer trends,
• the need for product recalls,
• the ability to maintain favorable supplier and customer relationships, and the financial viability of those suppliers and customers,
• currency valuations and devaluations and interest rate fluctuations,
• changes in credit ratings, leverage, and economic conditions and the impact of these factors on the cost of borrowing and access to capital markets,
• our ability to effectuate our strategy, which includes our continued evaluation of potential acquisition opportunities, including strategic acquisitions, joint ventures, divestitures and other initiatives, including our ability to identify, finance and complete these initiatives, and our ability to realize anticipated benefits from them,
• the ability to successfully complete cost reduction programs and increase productivity,
• the ability to effectively integrate acquired businesses,
• new products, packaging innovations, and product mix,
• the effectiveness of advertising, marketing, and promotional programs,
• supply chain efficiency,
• cash flow initiatives,
• risks inherent in litigation, including tax litigation,
• the ability to further penetrate and grow and the risk of doing business in international markets, economic or political instability in those markets and the performance of business in hyperinflationary environments, such as Venezuela,
• changes in estimates in critical accounting judgments and changes in 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 potential adverse impact of natural disasters, such as flooding and crop failures,

• the ability to implement new information systems and potential disruptions due to failures in information technology systems,
• with regard to dividends, dividends must be declared by the Board of Directors and will be subject to certain legal requirements being met at the time of declaration, as well as our Board’s view of our anticipated cash needs, and
• other factors described in “Risk Factors” and “Cautionary Statement Relevant to Forward-Looking Information” in the Company’s Form 10-K for the fiscal year ended April 29, 2009.

The forward-looking statements are and will be based on management’s then current views and assumptions regarding future events and speak only as of their dates. 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”™ is one of the world’s leading marketers and producers of healthy, convenient and affordable foods specializing in ketchup, sauces, meals, soups, snacks and infant nutrition. Heinz provides superior quality, taste and nutrition for all eating occasions whether in the home, restaurants, the office or “on-the-go.” Heinz is a global family of leading branded products, including Heinz® Ketchup, sauces, soups, beans, pasta and infant foods (representing over one third of Heinz’s total sales), Ore-Ida® potato products, Weight Watchers® Smart Ones® entrees, T.G.I. Friday’s® snacks, and Plasmon infant nutrition. Heinz is famous for its iconic brands on six continents, showcased by Heinz® Ketchup, The World’s Favorite Ketchup®.

CONTACT:
H.J. Heinz Company
Media
Michael Mullen, 412-456-5751
Michael.mullen@us.hjheinz.com
or
Investors
Margaret Nollen, 412-456-1048