EXHIBIT 99.1
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           S M I T H F I E L D   F O O D S   N E W S    R E L E A S E



FOR IMMEDIATE RELEASE                                       For More Information
                                                                   Aaron D. Trub
                                                                    757-365-3000



                    John 0. Nielson Resigns As President And
                Chief Operating Officer Of Smithfield Foods, Inc.
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         NORFOLK, Virginia, November 12, 1996 - - Joseph W. Luter, III, Chairman
and Chief Executive  Officer of Smithfield Foods Inc., today announced that John
0. Nielson has  resigned as  President  and Chief  Operating  Officer,  and as a
Director, of Smithfield Foods, Inc., effective immediately.

         Lewis R. Little,  President and Chief Operating  Officer of Gwaltney of
Smithfield,  Ltd., a wholly-owned subsidiary of Smithfield Foods, Inc., has been
appointed  President and Chief Operating  Officer of the Company,  replacing Mr.
Nielson. Mr. Little is 53 years old.

         Timothy A. Seely, Vice President,  Sales and Marketing,  Fresh Meats of
Gwaltney,  will replace Mr. Little as President and Chief  Operating  Officer of
Gwaltney. Mr. Seely is 47 years old.

         "John  Nielson made a large  contribution  to the success of Smithfield
Foods during his  relatively  short tenure as the Company's  president and chief
operating  officer,  and for this we thank him. Because of his efforts and those
of the  strong  management  team  currently  in place  throughout  the  Company,
Smithfield  Foods had a good  second  quarter,  which  ended  October 27, and is
looking forward to a successful holiday season," Luter said.

         "Lewis  Little has done an  outstanding  job at Gwaltney  over the last
three years,  leading that company to record  profitability  in fiscal 1996, and
again setting a record pace in fiscal 1997. I have total confidence in Lewis and
believe  he will make an  outstanding  contribution  to the  future  success  of
Smithfield Foods in his new position as president and chief operating  officer,"
Luter said.