CAMPBELL'S Co — Director's Dealing 2008

Oct 2, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2008-09-30

Reporting Person: Callaghan Patrick (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-30	Common Stock	S	1865	$38.74	Disposed	68042	Direct
2008-10-01	Common Stock	M	18400	$0.00	Acquired	86442	Direct
2008-10-01	Common Stock	S	18400	$40.00	Disposed	68042	Direct
2008-10-01	Common Stock	A	17704	$0.00	Acquired	85746	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-10-01	Employee Stock Options	$29.59	M	18400	Disposed	2010-06-22	Common Stock (18400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3536	Indirect

Footnotes

F1: All sales reported on this Form 4 were executed pursuant to a Rule 10b5-1 Trading Plan executed on June 4, 2008.

F2: The price reflects the weighted average sale price for the transactions reported on this line. The range of prices for the transactions reported on this line are $38.50 to and including $38.87. The full information regarding the number of shares sold at each separate price will be provided upon request by the Commission staff.

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 6/22/2000.