CAMPBELL'S Co — Director's Dealing 2007

Sep 12, 2007

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2007-07-31

Reporting Person: STRAWBRIDGE GEORGE JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-21	Common Stock	J	24677	$39.92	Acquired	7519419	Indirect
2007-03-21	Common Stock	J	10930	$39.92	Acquired	7530349	Indirect
2007-05-01	Common Stock	J	10929	$39.195	Acquired	7541278	Indirect
2007-05-24	Common Stock	J	23400	$39.15	Acquired	7564678	Indirect
2007-05-24	Common Stock	J	10378	$39.15	Acquired	7575056	Indirect
2007-03-21	Common Stock	J	24677	$39.92	Disposed	373693	Indirect
2007-05-24	Common Stock	J	23400	$39.15	Disposed	350293	Indirect
2007-03-21	Common Stock	J	10930	$39.92	Disposed	47314	Indirect
2007-05-24	Common Stock	J	10378	$39.15	Disposed	36936	Indirect
2007-05-01	Common Stock	J	10929	$39.195	Disposed	139223	Indirect
2007-07-31	Common Stock	J	0	—	Acquired	2176	Direct
2007-07-31	Common Stock	J	0	—	Acquired	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-31	Phantom Units	$	J	81	Acquired		Common Stock (81)	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 March 21, 2007 24,677 shares and on May 24, 2007 23,400 shares were transferred from the 2003 Five Year Trust to the 1991 Trust.

F3: 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 March 21, 2007 10,930 shares and on May 24, 2007 10,378 shares were transferred from the 2004 Three Year Trust to the 1991 Trust.

F4: By a trust created by me on December 15, 2006 (the "2006 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 May 1, 2007 10,929 shares were transferred from the 2006 Three Year Trust to the 1991 Trust.

F5: I disclaim beneficial ownership of the 10,131,559 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 1,697,800 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 79,132 shares held by trusts 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.