CAMPBELL'S Co — Director's Dealing 2006

Sep 12, 2006

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2006-07-31

Reporting Person: STRAWBRIDGE GEORGE JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-06-01	Common Stock	J	91282	$35.455	Acquired	7533180	Indirect
2006-06-01	Common Stock	J	1309	$35.455	Acquired	7534489	Indirect
2006-06-01	Common Stock	J	33276	$35.455	Acquired	7567765	Indirect
2006-06-01	Common Stock	J	91282	$35.455	Disposed	449326	Indirect
2006-06-01	Common Stock	J	1309	$35.455	Disposed	30602	Indirect
2006-06-01	Common Stock	J	33276	$35.455	Disposed	80209	Indirect
2006-07-31	Common Stock	J	0	—	Acquired	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-07-31	Phantom Units	$	J	70	Acquired		Common Stock (70)	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 June 1, 2006 91,282 shares were transferred from the 2003 Five Year Trust to the 1991 Trust.

F3: By a trust created by me on August 6, 2003 (the "2003 Two 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 June 1, 2006 1,309 were transferred from the 2003 Five Year Trust to the 1991 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 June 1, 2006 33,276 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)).

F12: These phantom shares were credited to the reporting person's deferred compensation account during the last fiscal year.