CAMPBELL'S Co — Director's Dealing 2004

Jan 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2003-08-06

Reporting Person: STRAWBRIDGE GEORGE JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-06	Common Stock	J	800000	$23.455	Disposed	7094593	Indirect
2003-08-06	Common Stock	J	200000	$23.455	Disposed	6894593	Indirect
2003-09-03	Common Stock	J	66242	$24.75	Acquired	6960835	Indirect
2003-11-03	Common Stock	J	5000	$26.18	Acquired	6965835	Indirect
2003-12-05	Common Stock	J	62176	$25.91	Acquired	7028011	Indirect
2003-12-08	Common Stock	J	20845	$26.14	Acquired	7048856	Indirect
2003-12-22	Common Stock	J	32126	$26.785	Acquired	7080982	Indirect
2003-08-06	Common Stock	J	800000	$23.455	Acquired	800000	Indirect
2003-12-22	Common Stock	J	32126	$26.785	Disposed	767874	Indirect
2003-08-06	Common Stock	J	200000	$23.455	Acquired	200000	Indirect
2003-12-08	Common Stock	J	20845	$26.14	Disposed	179155	Indirect
2003-09-03	Common Stock	J	66242	$24.75	Disposed	158279	Indirect
2003-12-05	Common Stock	J	62176	$25.91	Disposed	96103	Indirect
2003-11-03	Common Stock	J	5000	$26.18	Disposed	0	Direct
2004-01-01	Common Stock	J	0	—	Acquired	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-01	Stock Option	$26.86	A	17369	Acquired	2014-01-01	Common Stock (17369)	Direct

Footnotes

F1: By a trust of which I am income beneficiary and co-trustee and which I have the power to revoke (the "1991 Trust"). 5,000 shares were acquired by me on September 19, 2002 and were previously reported on the Form 4 for such month as directly owned. The 5,000 shares have now been transferred to the 1991 Trust.

F2: 800,000 shares were transferred from the 1991 Trust to a new trust created by me on August 6, 2003 (the "2003 Five Year Trust") of which I am the income beneficiary until August 2008. I am the trustee of this trust. I do not have the power to revoke this trust. On December 22, 2003 32,126 shares were transferred from the 2003 Five Year Trust to the 1991 Trust.

F3: 200,000 shares were transferred from the 1991 Trust to a new trust created by me on August 6, 2003 (the "2003 Two Year Trust") of which I am the income beneficiary until August 2005. I am the trustee of this trust. I do not have the power to revoke this trust. On December 8, 2003 20,845 shares were transferred from the 2003 Two Year Trust to the 1991 Trust.

F4: By a trust created by me on November 19, 2001 (the "2001 Trust") of which I am the income beneficiary until November 2004. I am the trustee of this trust. I do not have the power to revoke this trust. On September 3, 2003 66,242 shares and on December 5, 2003 62,176 shares were transferred from the 2001 Trust to the 1991 Trust.

F5: I disclaim beneficial ownership of the 12,303,923 shares held by a partnership, a general partner of which is a trust for the benefit of my sister which she has the power to revoke and of which I am a co-trustee (Reported pursuant to Rule 16a-8(b)(2)).

F6: I disclaim beneficial ownership of 2,071,056 shares held by trusts for the benefit of my nephews of which I am co-trustee. (Reported pursuant to Rule 16a-8(b)(2)).

F7: I disclaim beneficial ownership of 1,000 shares held by a trust for the benefit of my step-daughter of which I am co-trustee. (Reported pursuant to Rule 16a-8(b)(2)).

F8: I disclaim beneficial ownership of 1,000 shares held by a trust for the benefit of my step-daughter of which I am co-trustee. (Reported pursuant to Rule 16a-8(b)(2)).

F9: I disclaim beneficial ownership of 111,464 shares held by trusts for the benefit of one of my adult sons who currently resides with me. (I do not serve as a trustee.). I disclaim beneficial ownership of 48,530 shares held by a trust for the benefit of one of my adult sons who currently resides with me (I do serve as a co-trustee). (Reported pursuant to Rule 16a-8(b)(2)).

F10: I disclaim beneficial ownership of 2,142,320 shares held by trusts for the benefit of my descendants. (I do not serve as a trustee.). I disclaim beneficial ownership of 48,530 shares held by a trust for the benefit of one of my adult sons who does not currently reside with me (I do serve as co-trustee). (Reported pursuant to Rule 16a-8(b)(2)).

F11: I disclaim beneficial ownership of 3,000 shares held by a trust for the benefit of my wife of which I am co-trustee. (Reported pursuant to Rule 16a-8(b)(2)).

F12: The options vest in three annual installments of 30%, 30% and 40%.