Avery Dennison Corp — Director's Dealing 2004

Nov 12, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2004-11-10

Reporting Person: DIXON DIANE B (Sr. VP, Worldwide Comm. & Adv.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-10	Common Stock	M	1103	$16.25	Acquired	2879	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-10	Employee Stock Option (Right to Buy)	$16.25	M	1103	Disposed	2004-12-01	Common Stock (1103)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3093.49	Indirect
Common Stock	5482.07	Indirect
Common Stock	539.006	Indirect

Footnotes

F1: Option vests nine years and nine months from the date of grant, but becomes eligible for accelerated vesting beginning three years from the date of grant, if the Company meets certain pre-established performance criteria.