EXHIBIT 99

                             HERSHEY FOODS CORPORATION
    

         Corporate Communications 
         Hershey Foods Corporation 
         100 Crystal A Drive
         Hershey, PA 17033 
         E-Mail: pr@hersheys.com
         http://www.hersheys.com


FOR IMMEDIATE RELEASE                                     CONTACT:
July 8, 1998                                              John C. Long
                                                          717-534-7631

                                                          FINANCIAL CONTACT:
                                                          James A. Edris
                                                          717-534-7556



                          HERSHEY FOODS SECOND QUARTER
                        RESULTS MAY NOT MEET EXPECTATIONS

HERSHEY, PA. --- Hershey Foods Corporation announced today that its earnings for
the second quarter ending July 5, 1998, may be below market expectations by $.05
to $.07 per share. The corporation cited continued softness in its Asian and
Russian markets, coupled with expenses related to a realignment of its
international operations. Additionally, sales for its GODZILLA promotion were
lower than last year's highly successful LOST WORLD effort.

"While we are a bit disappointed with the development of our second quarter
business, we need to remember that it is our smallest quarter of the year and we
are going against a very strong comparison, up 27% for 1997 versus 1996," said
Kenneth L. Wolfe, Chairman and Chief Executive Officer. "Although the effects of
GODZILLA and the international realignment are behind us, it is difficult to
predict the rate of recovery in the Asian market. Retail takeaway in the U.S.
confectionery market continues to grow at a good rate. We expect that the second
half of the year will develop at a reasonable pace with continuing strong cash
flows and that 1998 will be another record year for Hershey Foods."