CAMPBELL'S Co — Director's Dealing 2007

Oct 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2007-10-01

Reporting Person: CONANT DOUGLAS R (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-10-01	Common Stock	M	15267	$22.95	Acquired	223372	Direct
2007-10-01	Common Stock	S	1600	$36.81	Disposed	221772	Direct
2007-10-01	Common Stock	S	2200	$36.86	Disposed	219572	Direct
2007-10-01	Common Stock	S	1600	$36.87	Disposed	217972	Direct
2007-10-01	Common Stock	S	900	$36.88	Disposed	217072	Direct
2007-10-01	Common Stock	S	2656	$36.89	Disposed	214416	Direct
2007-10-01	Common Stock	S	11	$36.90	Disposed	214405	Direct
2007-10-01	Common Stock	S	1600	$36.91	Disposed	212805	Direct
2007-10-01	Common Stock	S	1600	$36.97	Disposed	211205	Direct
2007-10-01	Common Stock	S	3100	$37.00	Disposed	208105	Direct
2007-10-02	Common Stock	M	26114	$22.95	Acquired	234219	Direct
2007-10-02	Common Stock	S	4600	$36.35	Disposed	229619	Direct
2007-10-02	Common Stock	S	1000	$36.38	Disposed	228619	Direct
2007-10-02	Common Stock	S	2200	$36.40	Disposed	226419	Direct
2007-10-02	Common Stock	S	1900	$36.42	Disposed	224519	Direct
2007-10-02	Common Stock	S	700	$36.43	Disposed	223819	Direct
2007-10-02	Common Stock	S	110	$36.45	Disposed	223709	Direct
2007-10-02	Common Stock	S	4	$36.46	Disposed	223705	Direct
2007-10-02	Common Stock	S	2000	$36.28	Disposed	221705	Direct
2007-10-02	Common Stock	S	600	$36.30	Disposed	221105	Direct
2007-10-02	Common Stock	S	800	$36.45	Disposed	220305	Direct
2007-10-02	Common Stock	S	2800	$36.46	Disposed	217505	Direct
2007-10-02	Common Stock	S	3400	$36.49	Disposed	214105	Direct
2007-10-02	Common Stock	S	2600	$36.50	Disposed	211505	Direct
2007-10-02	Common Stock	S	3400	$36.52	Disposed	208105	Direct
2007-10-02	Common Stock	F	8679	$37.00	Disposed	199426	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-10-01	Phantom Stock	$	J	17212	Acquired		Common Stock (17212)	Direct
2007-10-01	Phantom Stock	$	J	17212	Acquired		Common Stock (17212)	Direct
2007-10-01	Phantom Stock	$	J	137698	Acquired		Common Stock (137698)	Direct
2007-10-01	Employee Stock Option (right to buy)	$22.95	M	15267	Disposed	2012-07-25	Common Stock (15267)	Direct
2007-10-02	Employee Stock Option (right to buy)	$22.95	M	26114	Disposed	2012-07-25	Common Stock (26114)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1298	Indirect

Footnotes

F1: All sales reported on this Form 4 were executed pursuant to a Rule 10b5-1 Trading Plan executed on May 24, 2007.

F2: 1-for-1

F3: 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.

F4: The options vest cumulatively over three years at the rate of 30%, 60% and 100% respectively on the first three anniversaries of the grant date of 7/25/2002.