PITTSBURGH--(BUSINESS WIRE)--H.J. Heinz Company (NYSE:HNZ) today announced that Michael D. Milone, its Executive Vice President – Rest of World, Global Enterprise Risk Management and Global Infant/Nutrition, has adopted a prearranged trading plan in order to exercise options which are nearing expiration, diversify his investment portfolio, and achieve liquidity. The stock trading plan was adopted in accordance with the guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934.

Rule 10b5-1 allows persons to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Such plans establish parameters for future stock transactions to automatically take place, which may be modified or revoked by the person adopting the plan only in limited circumstances. In providing for these plans, the SEC recognized the need for corporate insiders to gradually diversify their holdings and spread stock trades out over extended periods of time to reduce market impact, without concerns about whether such individuals might have had access to material, non-public information at the time of a particular transaction.

Mr. Milone’s plan provides for the exercise of up to 73,000 options of Heinz Common Stock and liquidation of a portion of the resulting shares at certain predetermined price levels. The exercises and sales are subject to satisfaction of certain conditions and continue through March 23, 2012, at which date the trading plan terminates.

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, Boston Market® meals, T.G.I. Friday’s® snacks, and Plasmon infant nutrition. Heinz is famous for its iconic brands on five continents, showcased by Heinz® Ketchup, The World’s Favorite Ketchup®. Information on Heinz is available at www.heinz.com.

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