Investor Information


As of December 31, 1998, Hershey Foods Corporation had outstanding 112,698,807 shares of Common Stock and 30,447,908 shares of Class B Common Stock.

YearYear-end Common Stock
and Class B Common Stockholders
Approximate Annual
Composite Trading Volume


Stock Market Data

Hershey Foods Corporation's Common Stock is listed and traded principally on the New York Stock Exchange under the ticker symbol "HSY." Class B Common Stock is not listed for trading. The stock tables of most financial publications list the corporation as "Hershey." Options on the corporation's Common Stock are traded on the American Stock Exchange.

Common Stock Profile

 Common Stock PriceDividends Paid
Per Share

1998HighLowCloseCommonClass B

Calendar quarter
1st Quarter$73 3/8$59 11/16$71 5/8$.22$.20
2nd Quarter76 3/867 3/1669.22.20
3rd Quarter72 5/1660 1/268 7/16.24.2175
4th Quarter75 13/1660 3/462 3/16.24.2175

Dividend Policy

Dividends on Hershey Foods Corporation's Common Stock and Class B Common Stock are declared by the Board of Directors and normally are paid in the months of March, June, September and December.

The dividend paid on the Common Stock on March 15, 1999, was the 277th consecutive quarterly dividend paid by the corporation. The dividend rate has been increased annually for 24 consecutive years. Historically, the corporation has targeted approximately one-third of income from continuing operations as dividends to stockholders.

Investor Services Program

The corporation, through its agent, The Chase Manhattan Bank, offers an Investor Services Program. Features of this program include the ability to purchase initial shares of Hershey Foods Common Stock as well as subsequent purchases directly from our agent, dividend reinvestment on 10 shares or greater, automatic monthly deductions from a bank account for optional cash purchases, safekeeping of certificates, direct deposit of dividends, and an IRA option. For more information contact:

The Chase Manhattan Bank
c/o ChaseMellon Shareholder Services
P.O. Box 3338
South Hackensack, NJ 07606-1938
(800) 851-4216

To request enrollment materials, please call (800) 842-7629.

Safe Harbor Statement

The nature of the corporation's operations and the environment in which it operates subject it to changing economic, competitive, regulatory and technological conditions, risks and uncertainties. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the corporation notes the following factors which, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. Many of the forward-looking statements contained in this document may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "estimated" and "potential" among others. Factors which could cause results to differ include, but are not limited to: changes in the confectionery and grocery business environment, including actions of competitors and changes in consumer preferences; changes in governmental laws and regulations, including income taxes; market demand for new and existing products; and raw material pricing.

Stockholder Inquiries

Questions relating to stockholder records, change of ownership, change of address and dividend payments should be sent to the corporation's Transfer Agent, ChaseMellon Shareholder Services.

Financial Information

Security analysts, investment managers and stockholders should direct financial information inquiries to the Investor Relations contact.

1998 Summary Annual Report

To control costs and to better meet our stockholders' needs, we have published a 1998 Summary Annual Report. The Consolidated Financial Statements and Management's Discussion and Analysis are included as an appendix to the corporation's Proxy Statement or can be obtained separately through the Investor Relations contact.