| HERSHEY, Pa., Sep 18, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Board of
Directors, management and employees of Hershey Foods Corporation (NYSE: HSY)
today reaffirmed their commitment to the long-term, value-enhancing strategy
embarked upon earlier this year. The company affirmed the termination of the
sale process and also stated that its Board of Directors has not been approached
by the Milton Hershey School Trust regarding repurchasing stock from the Trust,
nor does it have any intention of renewing the stock repurchase proposal
previously rejected by the Trust prior to the commencement of the sale process.
Richard H. Lenny, Chairman, President and Chief Executive Officer, said, "There
has been significant disruption to our company, employees and the communities in
which we live and work over the past few months. However, Hershey Foods remains
a competitively advantaged market leader in an attractive category. We also have
a truly outstanding workforce, one that consistently has maintained focus and
shown courage in the face of significant uncertainty about our future as an
independent company. Our mission, as always, is to bring our energy and
attention to the task of building our brands and capitalizing on the immense
strengths that were so clearly evident to potential acquirers."
SOURCE Hershey Foods Corporation
CONTACT: John C. Long of Hershey Foods, +1-717-534-7631
URL: http://www.hersheys.com
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