Avery Dennison Corp — Director's Dealing 2006

Oct 27, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2006-10-26

Reporting Person: SCARBOROUGH DEAN A (Director, President and C.E.O.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-26	Common Stock	M	24000	$34.9375	Acquired	51953.99	Direct
2006-10-26	Common Stock	F	17214	$62.4	Disposed	34739.99	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-26	Common Stock Units	$0	J	63.41	Acquired	1988-08-08	Common Stock (63.41)	Indirect
2006-10-26	Employee Stock Option (Right to Buy)	$34.9375	M	24000	Disposed	2006-12-05	Common Stock (24000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3451.712	Indirect
Common Stock	19050.151	Indirect
Common Stock	124.566	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