caret-down

Campbell Announces Price Increase for Soups and Other Selected U.S. Products

CAMDEN, N.J., Jan 5, 2005 (BUSINESS WIRE) — Campbell Soup Company
(NYSE:CPB) today announced an increase in the list price of selected
soups and other domestic retail products effective February 28, 2005.

The price increase represents an approximate 4.8% weighted average
price increase across Campbell’s U.S. Soup, Sauces and Beverages
segment. The price increase is intended to partially offset cost
increases in commodities, ingredients, and packaging materials. Over
the past four years, Campbell has made significant investments in its
U.S. Soup, Sauces and Beverages segment, including investments in
product quality, new products, and more convenient packaging,
including easy-open lids on most canned soup products and plastic
packaging for its soup, sauce and beverage brands.

The company confirmed its fiscal year 2005 guidance for earnings
per share to increase between 5 and 7 percent, excluding restructuring
charges, from the adjusted fiscal year 2004 base of $1.58.

Non-GAAP Financial Information

A reconciliation of the adjusted fiscal year 2004 earnings per
share to the reported earnings per share can be found on the company’s
website at www.campbellsoupcompany.com in the “Investor Center”
section under the November 22, 2004 entry.

Forward-Looking Statements

This release contains statements that are “forward-looking.” These
forward-looking statements rely on a number of assumptions and
estimates which could be inaccurate and which are subject to risks and
uncertainties. Actual results could vary materially from those
anticipated or expressed in any forward-looking statement made by the
company. Please refer to the company’s most recent Form 10-K and
subsequent filings for a further discussion of these risks and
uncertainties. The company disclaims any obligation or intent to
update the forward-looking statements in order to reflect events or
circumstances after the date of this release.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of
high quality soup, sauce, beverage, biscuit, confectionery and
prepared food products. The company is 136 years old, with over $7
billion in annual sales and a portfolio of more than 20 market-leading
brands. More than 24,000 employees around the world support the
company. For more information on the company, visit Campbell’s website
on the Internet at www.campbellsoupcompany.com.

SOURCE: Campbell Soup Company

Campbell Soup Company
Media:
Jerry S. Buckley, 856-342-6007
or
Analysts:
Leonard F. Griehs, 856-342-6428