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Campbell Names M. Carl Johnson Of Kraft As Senior Vice President—Chief Strategy Officer

CAMDEN, N.J., APRIL 12, 2001 – Campbell Soup Company (NYSE: CPB) today announced the appointment of M. Carl Johnson III, as Senior Vice President–Chief Strategy Officer, reporting directly to President and Chief Executive Officer Douglas R. Conant. Johnson, 52, was formerly Executive Vice President of Kraft Foods, N.A., a unit of Philip Morris Companies, where he led the $2.5 billion New Meals Division. He will join Campbell April 16.

Johnson is filling a newly created position that will have direct operating responsibility for corporate strategy, business development and information systems. These responsibilities have previously reported to Campbell’s Chief Financial Officer. In creating the new position, Conant said, “Continually sharpening Campbell’s financial and strategic focus is one of my highest priorities. This new position is an important step toward this goal. The competitive landscape in the global food industry has changed dramatically and we are taking the necessary steps to ensure Campbell is superbly positioned to compete and win.”

Commenting on this appointment, Conant said, “Carl Johnson has the diverse experience and strong track record that uniquely qualify him for this key role. He is an outstanding general manager and strategist with broad food industry experience. His results at Kraft demonstrate his ability to revitalize big brands, launch new brands and improve financial results. He has also been a highly successful consultant to leading consumer goods companies, focusing on strategic planning and new business development. I am delighted he is joining our team and I am confident he will play an important role in positioning Campbell for future growth opportunities.”

Most recently, Johnson served as President of Kraft’s New Meals Division, which comprised ten major categories and many well-known brands such as Kraft, Velveeta, Miracle Whip and DiGiorno. As a result of his leadership of a three-year transformation plan culminating in 2000, the division achieved record high income and income growth. He restored sales and earnings momentum to key businesses, and created profitable new easy meals businesses through internal development and acquisition.

Johnson joined Kraft in 1992 as Vice President of Strategy for Kraft Foods, USA. He became General Manager of Kraft’s Specialty Products Division in 1993, and then, General Manager of the Meals Division in 1995. He assumed his most recent position, President of the New Meals Division in 1997, when the former Meals and Enhancers divisions were consolidated.

Prior to Kraft, Johnson was a senior partner and director of the consumer goods practice at the Marketing Corporation of America, where his clients included Kraft, ConAgra and Cadbury Schweppes. Before that he was vice president of worldwide advertising at Polaroid Corporation. He began his career at Colgate-Palmolive Company from 1972 to 1982. A native of Illinois, Johnson earned a Master’s of Business Administration from the University of Chicago and a Bachelor of Arts degree from Wesleyan University. He is married with two children and lives in Chicago.

Johnson said, “Campbell has a unique connection with consumers, a strong stable of brands and a sound financial foundation. Just as importantly, it has a very talented executive team. I’ve known and respected Doug Conant for over a decade. I am excited about this great opportunity to now work closely with Doug and his team, applying my skills and experience to help shape Campbell’s corporate direction and deliver on the opportunities ahead.”

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of premium quality soup, sauces, beverages, biscuits, confectionery, and prepared food products. The company owns a portfolio of more than 20 market-leading brands each with more than $100 million in sales. They include “Campbell’s” soups worldwide, “Erasco” soups in Germany and “Liebig” soups in France, “Pepperidge Farm” cookies and crackers, “V8” and “V8 Splash” juices, “Pace” Mexican sauces, “Prego” pasta sauces, “Franco American” pastas, “Swanson” broths, “Homepride” sauces in the United Kingdom, “Arnott’s” biscuits in Australia and “Godiva” chocolates around the world. The company is ably supported by more than 22,000 employees worldwide. For more information on the company, visit Campbell’s website on the Internet at www.campbellsoup.com.