CAMPBELL'S Co — Director's Dealing 2008

Jan 4, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2008-01-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-01-02	Common Stock	M	46559	$22.95	Acquired	245985	Direct
2008-01-02	Common Stock	S	9100	$34.96	Disposed	236885	Direct
2008-01-02	Common Stock	S	5200	$34.97	Disposed	231685	Direct
2008-01-02	Common Stock	S	2900	$34.98	Disposed	228785	Direct
2008-01-02	Common Stock	S	100	$34.99	Disposed	228685	Direct
2008-01-02	Common Stock	S	4600	$35.00	Disposed	224085	Direct
2008-01-02	Common Stock	S	4000	$35.04	Disposed	220085	Direct
2008-01-02	Common Stock	S	658	$35.05	Disposed	219427	Direct
2008-01-02	Common Stock	S	4400	$35.07	Disposed	215027	Direct
2008-01-02	Common Stock	S	1000	$35.10	Disposed	214027	Direct
2008-01-02	Common Stock	S	1	$35.11	Disposed	214026	Direct
2008-01-02	Common Stock	S	6200	$35.14	Disposed	207826	Direct
2008-01-02	Common Stock	S	3800	$35.25	Disposed	204026	Direct
2008-01-02	Common Stock	S	400	$35.26	Disposed	203626	Direct
2008-01-02	Common Stock	S	4200	$35.56	Disposed	199426	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-01-02	Employee Stock Option	$22.95	M	46559	Disposed	2012-07-25	Common Stock (46559)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1298	Indirect

Footnotes

F1: The options vest 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.