CAMPBELL'S Co — Director's Dealing 2006

Dec 19, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2006-09-18

Reporting Person: STRAWBRIDGE GEORGE JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-18	Common Stock	J	25743	$37.28	Acquired	7593508	Indirect
2006-09-18	Common Stock	J	10804	$37.28	Acquired	7604312	Indirect
2006-12-11	Common Stock	J	25213	$38.895	Acquired	7629525	Indirect
2006-12-11	Common Stock	J	11161	$38.895	Acquired	7640686	Indirect
2006-12-18	Common Stock	M	2176	$36.4768	Acquired	2176	Direct
2006-09-18	Common Stock	J	25743	$37.28	Disposed	423583	Indirect
2006-12-11	Common Stock	J	25213	$38.895	Disposed	398370	Indirect
2006-09-18	Common Stock	J	10804	$37.28	Disposed	69405	Indirect
2006-12-11	Common Stock	J	11161	$38.895	Disposed	58244	Indirect
2006-12-18	Common Stock	J	0	—	Acquired	30602	Indirect
2006-12-18	Common Stock	J	0	—	Acquired	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-18	Stock Option (Right to Buy)	$36.4768	M	2176	Disposed	2007-01-02	Common Stock (2176)	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").

F2: By a trust created by me on August 6, 2003 (the "2003 Five Year Trust") of which I am the income beneficiary. I am the trustee of this trust. I do not have the power to revoke this trust. On September 18, 2006 25,743 shares and on December 11, 2006 25,213 shares were transferred from the 2003 Five Year Trust to the 1991 Trust.

F3: By a trust created by me on August 6, 2003 of which I am the income beneficiary. I am the trustee of this trust. I do not have the power to revoke this trust.

F4: By a trust created by me on May 25, 2004 (the "2004 Three Year Trust") of which I am the income beneficiary. I am the trustee of this trust. I do not have the power to revoke this trust. On September 18, 2006 10,804 shares and on December 11, 2006 11,161 shares were transferred from the 2004 Three Year Trust to the 1991 Trust.

F5: I disclaim beneficial ownership of the 10,135,559 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 1,800,000 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)).