Avery Dennison Corp — Director's Dealing 2004

Nov 18, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2004-11-17

Reporting Person: MULLIN PETER W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-17	Common Stock	M	4000	$16.25	Acquired	28635	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-17	Director Stock Option (Right to Buy)	$16.25	M	4000	Disposed	2004-12-01	Common Stock (4000)	Direct

Footnotes

F1: Option grant under the Avery Dennison Corporation 1988 Stock Option Plan for Non-Employee Directors, in transaction that was exempt under old Rule 16b-3. Options are exerciseable in two cumulative installments of 50% each year beginning on the first anniversary date of the grant, which is the date given.