Avery Dennison Corp — Director's Dealing 2008

May 2, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2008-05-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-01	Common Stock	M	26000	$45.1875	Acquired	80649.125	Direct
2008-05-01	Common Stock	F	24844	$48.55	Disposed	55805.125	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-01	Employee Stock Option (Right to Buy)	$45.1875	M	26000	Disposed	2008-12-03	Common Stock (26000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3663.178	Indirect
Common Stock	21501.396	Indirect
Common Stock	20	Indirect
Common Stock	131.507	Indirect