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Campbell Completes Sale of Arnott’s Papua New Guinea Operations

CAMDEN, N.J.–(BUSINESS WIRE)–June 12, 2007–Campbell Soup
Company (NYSE:CPB) announced its wholly-owned subsidiary, Arnott’s
Limited, has completed the sale of its Papua New Guinea (PNG)
operations to two PNG government pension funds, after the pension
funds exercised their pre-emptive rights to purchase the Arnott’s PNG
shares. The pension funds were minority shareholders in the PNG
operations.

Before the pre-emptive rights exercise, Campbell had announced
that Arnott’s Limited had entered into a sale agreement with Goodman
Fielder to purchase its PNG operations.

Financial terms were not disclosed. The transaction is not
expected to have a material financial impact on Campbell.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of
high quality foods and simple meals, including soup, baked snacks,
vegetable-based beverages, and premium chocolate products, with annual
revenues in excess of $7.3 billion. 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
             Media:
             Anthony Sanzio, 856-968-4390
             or
             Toni Callaghan, 612-8767-7801
             or
             Analysts:
             Leonard F. Griehs, 856-342-6428

    SOURCE: Campbell Soup Company