CAMPBELL'S Co — Director's Dealing 2008

Sep 4, 2008

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2008-07-31

Reporting Person: STRAWBRIDGE GEORGE JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-07-16	Common Stock	J	26654	$35.29	Acquired	7158592	Indirect
2008-07-16	Common Stock	J	26654	$35.29	Disposed	241445	Indirect
2008-07-31	Common Stock	J	0	—	Acquired	85937	Indirect
2008-07-31	Common Stock	J	0	—	Acquired	146608	Indirect
2008-07-31	Common Stock	J	0	—	Acquired	469777	Indirect
2008-07-31	Common Stock	J	0	—	Acquired	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-07-31	Phantom Units	$	J	139	Acquired		Common Stock (139)	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 July 16, 2008 26,654 shares were transferred from the 2003 Five Year Trust to the 1991 Trust.

F3: 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.

F4: By a trust created by me on December 12, 2007 (the "2007 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.

F5: By a trust created by me on January 25, 2008 (the "2008 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.

F6: 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)).

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 113,098 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.