CAMPBELL'S Co — Director's Dealing 2010

May 5, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2010-05-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-03	Common Stock	M	192027	$32.41	Acquired	707949	Direct
2010-05-03	Common Stock	S	192027	$35.84	Disposed	515922	Direct
2010-05-04	Common Stock	M	140973	$32.41	Acquired	656895	Direct
2010-05-04	Common Stock	S	140973	$35.60	Disposed	515922	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-03	Employee Stock Options	$32.41	M	192027	Disposed	2011-01-08	Common Stock (192027)	Direct
2010-05-04	Employee Stock Options	$32.41	M	140973	Disposed	2011-01-08	Common Stock (140973)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1392	Indirect

Footnotes

F1: All sales reported on this Form 4 were made pursuant to a Rule 10b5-1 Trading Plan executed on March 10, 2010.

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 $35.71 to and including $35.99. The full information regarding the number of shares sold at each separate price will be provided upon request to the Commission staff.

F3: 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 $35.44 to and including $35.88. The full information regarding the number of shares sold at each separate price will be provided upon request to the Commission staff.

F4: 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 01/08/2001.