CAMPBELL'S Co — Director's Dealing 2006

Dec 11, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2006-12-07

Reporting Person: LIPPINCOTT PHILIP (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-07	Common Stock	M	2176	$36.47	Acquired	4352	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-07	Stock Option (Right to Buy)	$36.47	M	2176	Disposed	2007-01-02	Common Stock (2176)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	26861	Direct

Footnotes

F1: The options vested cumulatively over three years at the rate of 30%, 60% and 100% respectively on the first three anniversaries of the grant date of 1/2/1997.