CAMPBELL'S Co — Director's Dealing 2008

May 21, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2008-05-20

Reporting Person: WRIGHT DOREEN A (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-20	Common Stock	M	29000	$27.99	Acquired	72795	Direct
2008-05-20	Common Stock	S	29000	$33.35	Disposed	43795	Direct
2008-05-20	Common Stock	S	4000	$33.35	Disposed	39795	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-20	Employee Stock Options	$27.99	M	29000	Disposed	2011-09-28	Common Stock (29000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1201	Indirect

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 9/28/01.