CAMPBELL'S Co — Director's Dealing 2007

Jan 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: GOLUB HARVEY (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-01-01	Phantom Stock	$	A	3796	Acquired		Common Stock (3796)	Direct

Footnotes

F1: 1-for-1

F2: Phantom shares are fully vested.

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.