Avery Dennison Corp — Director's Dealing 2007

May 24, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2007-05-23

Reporting Person: RODRIGUEZ KARYN E (Vice President and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-23	Common Stock	M	750	$43.375	Acquired	750	Direct
2007-05-23	Common Stock	S	750	$64.121	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-23	Employee Stock Option (Right to Buy)	$43.375	M	750	Disposed	2007-12-04	Common Stock (750)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1454.77	Indirect