CAMPBELL'S Co — Director's Dealing 2008

Jul 3, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2008-07-01

Reporting Person: CONANT DOUGLAS R (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-07-01	Common Stock	M	54776	$22.95	Acquired	254202	Direct
2008-07-01	Common Stock	S	54776	$33.2798	Disposed	199426	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-07-01	Employee Stock Options	$22.95	M	54776	Disposed	2012-07-25	Common Stock (54776)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1331	Indirect

Footnotes

F1: All sales reported on this Form 4 were executed pursuant to a Rule 10b5-1 Trading Plan executed on May 24, 2007.

F2: This 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 $33.06 to and including $33.58. 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 7/25/2002.