CAMPBELL'S Co — Director's Dealing 2004

Mar 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2004-03-02

Reporting Person: LORD GERALD S (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-02	Common Stock	M	16864.0000	$22.6000	Acquired	23515.0000	Direct
2004-03-02	Common Stock	S	16864.0000	$28.5100	Disposed	6651.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-02	Stock Options (Right to buy)	$22.6000	M	16864.0000	Disposed	2005-06-22	Common Stock (16864.0000)	Direct
2004-03-02	Phantom Stock	$	I	12354.0000	Disposed		Common Stock (12354.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	9841.0000	Indirect
Common Stock	12697.0000	Indirect

Footnotes

F1: 1-for-1

F2: Phantom shares listed are fully vested and immediately available for transfer.

F3: Shares of phantom stock are payable in cash or stock from the Company's Deferred Compensation Plan upon reporting person's retirement, resignation or termination.