CAMPBELL'S Co — Director's Dealing 2008

Dec 2, 2008

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2008-12-01

Reporting Person: Connolly Sean (Senior Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	78035	Direct
Common Stock	1045	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Options	$22.95	2012-07-25	Common Stock (13927)		Direct
Employee Stock Options	$26.84	2013-09-25	Common Stock (32000)		Direct
Employee Stock Options	$26.36	2014-09-23	Common Stock (21850)		Direct
Phantom Stock	$0.00		Common Stock (1026)		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 7/25/2002.

F2: 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 9/25/2003.

F3: 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 09/23/2004.

F4: Phantom shares are fully vested.

F5: 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.