Avery Dennison Corp — Director's Dealing 2007

May 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2007-05-22

Reporting Person: SIMCIC CHRISTIAN A (Group VP, Roll Materials)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-22	Common Stock	M	712	$43.375	Acquired	9101.442	Direct
2007-05-22	Common Stock	M	12000	$45.1875	Acquired	21101.442	Direct
2007-05-22	Common Stock	S	712	$64.19	Disposed	20389.442	Direct
2007-05-22	Common Stock	S	12000	$64.12	Disposed	8389.442	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-22	Employee Stock Option (Right to Buy)	$43.375	M	712	Disposed	2007-12-04	Common Stock (712)	Direct
2007-05-22	Employee Stock Option (Right to Buy)	$45.1875	M	12000	Disposed	2008-12-03	Common Stock (12000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	319.682	Indirect