CAMPBELL'S Co — Director's Dealing 2005

Jan 5, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2005-01-01

Reporting Person: STEWART DONALD M (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-01	Stock Options	$30.02	A	9320	Acquired	2015-01-01	Common Stock (9320)	Direct
2005-01-01	Phantom Stock	$	A	1375	Acquired		Common Stock (1375)	Direct

Footnotes

F1: The options vest cumulatively over three years at the rate of 30%, 60%, 100% respectively on the first three anniversaries of the Grant Date.

F2: 1-for-1

F3: Phantom shares are fully vested and immediately exercisable.

F4: 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.