Avery Dennison Corp — Director's Dealing 2006

Oct 31, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2006-10-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-30	Common Stock	M	7000	$34.9375	Acquired	9879	Direct
2006-10-30	Common Stock	F	3995	$63.11	Disposed	5884	Direct
2006-10-30	Common Stock	G	100	—	Disposed	5784	Direct
2006-10-30	Common Stock	G	100	—	Acquired	678.789	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-30	Common Stock Units	$0	J	58.58	Acquired	1988-08-08	Common Stock (58.58)	Indirect
2006-10-30	Employee Stock Option (Right to Buy)	$34.9375	M	7000	Disposed	2006-12-05	Common Stock (7000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3256.581	Indirect
Common Stock	7084.544	Indirect

Footnotes

F1: Includes stock units acquired upon the reinvestment of dividend equivalents under the Avery Capital Accumulation Plan ("CAP") in a transaction exempt under Rule 16a-11