EXHIBIT 99

CONAGRA, INC.


               Contact:
               MEDIA:                   ANALYSTS:
               Lynn Phares              Walt Casey
               Vice President, Public   VP, Corp. Communications
                 Relations and          Phone: (402) 595-4154
                 Community Affairs
               Phone: (402) 595-4153


                                            FOR IMMEDIATE RELEASE

CONAGRA RESTRUCTURES TO ENHANCE EARNINGS GROWTH

Omaha, Neb., May 14, 1996 -- ConAgra, Inc. (NYSE: CAG) today
announced a major restructuring program designed to strengthen
the Company's core businesses and improve ConAgra's
profitability.

     The restructuring program and other initiatives will result
in one-time pretax charges of approximately $505 million in the
fourth quarter of fiscal year 1996 ending May 26, 1996.  The
charges will reduce fiscal 1996 fourth quarter and full year net
income by approximately $360 million, or $1.57 per share.

     ConAgra expects that these actions will help streamline the
Company's production base, improve efficiency, and make ConAgra
more competitive in the marketplace.  Pretax savings during the
next three years are expected to be approximately $50 million in
fiscal 1997, $100 million in fiscal 1998, and $125 million in
fiscal 1999.  ConAgra expects that some of the savings in each
year will bolster earnings in that year and some will be
reinvested to support future results.  Furthermore, ConAgra
anticipates that the Company's revenues will not be materially
affected by the restructuring.

     "The accounting term may be 'restructuring' but I think of
it more as 'structuring' -- consistent with our ongoing strategy
to structure ConAgra for success," said Philip B. Fletcher,
ConAgra's chairman and chief executive officer.

     Mr. Fletcher said, "For several years we've emphasized
structuring for success as the foundation of our efforts to
manage ConAgra aggressively.  To date we've accomplished a stream
of organizational and management changes to improve ConAgra's
structure and leadership.  And we've completed an aggressive
divestiture program, pruning non-core businesses to streamline
ConAgra's asset base."

     Mr. Fletcher continued, "Those productive initiatives helped
pave the way for the program we're announcing today.  For our
shareholders and employees this is the right step to make ConAgra
more competitive, more secure, more profitable.  But the decision
was difficult because many jobs will be eliminated.  We'll do our
best to be sensitive and responsive to the needs of our people
who are affected."

     Mr. Fletcher concluded, "In sum, we are taking these actions
to make a good company even better.  In that light, I'd like to
assure our shareholders that the fourth quarter charges do not
alter our prospects for good operating results this year,
excluding the charges.  On that basis, we continue to expect
double-digit earnings growth in fiscal 1996 and ConAgra's 16th
consecutive year of record operating results."

     The charges of approximately $505 million before taxes have
three components:  1.  A restructuring charge of $350 million; 2. 
A charge of $100 million for implementing SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-
Lived Assets to be Disposed Of;"  3.  A charge of $55 million for
a completed business disposition, or divestiture, program.  Of
the total charges of approximately $505 million, about $65
million is expected to be a cash expense.

     ConAgra will close or significantly reconfigure 29
production plants, exit or restructure 9 smaller businesses and
reduce the company's workforce by approximately 6,500 employees,
or 7 percent of the total workforce.  Specific facilities and
businesses will not be identified publicly until after affected
employees have been notified.  Most employees affected by the
restructuring charge will be notified during the next few days
and all will be notified by May 24, 1996.

     ConAgra is a diversified international food company. 
ConAgra employs over 90,000 people at about 245 production
facilities and 1,200 total locations.  The Company's annual sales
exceed $24 billion.