HERSHEY REAFFIRMS 2005 AND 2006 EXPECTATIONS AND ANNOUNCES
NEW $500 MILLION STOCK REPURCHASE AUTHORIZATION —
MILTON HERSHEY SCHOOL TRUST TO PARTICIPATE

HERSHEY, Pa., December 12, 2005 — In a series of presentations to be given to investment analysts in Hershey on Tuesday, December 13, The Hershey Company (NYSE:HSY) will reaffirm its expectations for the full-year 2005, stating that net sales will increase at a rate above the long-term goal of 3-4 percent, and diluted earnings per share from operations should increase at a rate greater than the long-term range of 9-11 percent.

In addition, the Company will highlight major growth initiatives including benefit-driven innovation, continued expansion within the U.S. snack market, and a disciplined approach to achieving profitable growth in key global markets. To support these growth initiatives, Hershey will provide a comprehensive review of productivity and cost savings efforts which will be implemented in 2006 and beyond. In this context the Company will reaffirm its expectations for 2006, calling for sales growth somewhat above its 3-4 percent long-term goal, with increased diluted earnings per share slightly above 9-11 percent, excluding the previously announced business realignment charges.