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Campbell Agrees to Sell Arnott’s Papua New Guinea to Goodman Fielder Ltd

CAMDEN, N.J.–(BUSINESS WIRE)–Feb. 26, 2007–Campbell Soup
Company (NYSE:CPB) today announced its wholly owned subsidiary,
Arnott’s Limited, has entered into an agreement to sell its Papua New
Guinea operations to Goodman Fielder Limited.

In line with Campbell’s global strategy, the sale will allow
Arnott’s to strengthen its focus on key growth markets in the Asia
Pacific region including Australia, New Zealand, and Indonesia.

The sale, which is subject to regulatory approval and other
pre-conditions, is anticipated to be completed within the next few
months. Financial terms were not disclosed. The transaction is not
expected to have a material financial impact on Campbell.

Arnott’s Papua New Guinea manufactures a range of biscuit, cereal,
and noodle products under brands including “Paradise,” “Morobeen,”
“Arrow,” and “Gold Nuggets.”

The sale includes two manufacturing plants and warehouses in Port
Moresby and Lae.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of
high quality simple meals, including soups, baked snacks,
vegetable-based beverages, and premium chocolate products. Founded in
1869, the company has a portfolio of market-leading brands, including
“Campbell’s,” “Pepperidge Farm,” “Arnott’s,” “V8,” and “Godiva.” For
more information on the company, visit Campbell’s website at
www.campbellsoupcompany.com.


    CONTACT: Campbell Soup Company
             Anthony Sanzio (Media)
             (856) 968-4390
             or
             Toni Callaghan (Media)
             612-8767-7801
             or
             Leonard F. Griehs (Analysts)
             (856) 342-6428

    SOURCE: Campbell Soup Company