H.J. HEINZ &lt;HNZ> POISED FOR RECORD YEAR

  H.J. Heinz Co is "within sight of our
  22nd consecutive year of new records in financial growth" for
  the fiscal year ending April 30, Chairman and Chief Executive
  Officer Anthony O'Reilly told investment analysts.
      O'Reilly, who declined to make a specific projection, said
  the food company is "stronger than at any time in its 118-year
  history."
      Last week Heinz reported third-quarter earnings rose to 55
  cts a share from 46 cts a share. Sales rose to 1.08 billion
  dlrs from 1.01 billion dlrs a year earlier.
      O'Reilly said Heinz will concentrate on backing its big
  brands, new products and services, new geography, internal
  growth and acquisitions.
      He said Heinz Ketchup has its highest market share in
  history, 55 pct. But in response to a question, the executive
  said a volume falloff in the overall product category "is a
  concern to us."
      O'Reilly said Weight Watchers continues to perform well and
  will generate revenue in fiscal 1987 of approximately 940 mln
  dlrs.
      O'Reilly told analysts Heinz is in active negotiations to
  build a second plant in China, where it entered a joint venture
  with the government in 1984, forming Heinz-UFE Ltd, which
  produces dry baby food cereal.
      He said Heinz-Japan is "making a profit and generating its
  first substantial dividends," and implementation of a new
  partnership, Seoul-Heinz Ltd, is moving ahead with a new
  manufacturing plant targeted for completion by June in Seoul,
  South Korea.
      To increase its competitiveness, O'Reilly said Heinz
  implemented a "lowest cost imaginable" program targeted at
  manufacturing, sales and marketing and procurement.
      He said a modernization program is in effect at the
  company's United Kingdom operations, where the labor force,
  trimmed to 4,000 from 10,000, is expected to be further reduced
  to 2,500 in 1988.
  

