Avery Dennison Corp — Director's Dealing 2007

Apr 27, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2007-04-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-26	Common Stock	M	50000	$38.3125	Acquired	85152.571	Direct
2007-04-26	Common Stock	M	7519	$43.375	Acquired	92671.571	Direct
2007-04-26	Common Stock	F	45144	$63.775	Disposed	47527.571	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-26	Employee Stock Option (Right to Buy)	$38.3125	M	50000	Disposed	2007-09-25	Common Stock (50000)	Direct
2007-04-26	Employee Stock Option (Right to Buy)	$43.375	M	7519	Disposed	2007-12-04	Common Stock (7519)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3572.267	Indirect
Common Stock	20257.018	Indirect
Common Stock	10	Indirect
Common Stock	127.801	Indirect