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Campbell Names Nabisco’s Robert A. Schiffner Chief Financial Officer

Ceo Conant Also Announces New Senior Position To Lead Corporate Strategy, Business Development, And Information Systems

CAMDEN, N.J., February 12, 2001 – Campbell Soup Company (NYSE: CPB) announced today the appointment of Robert A. Schiffner as Senior Vice President and Chief Financial Officer. Schiffner, 51, is a 26-year veteran of Nabisco, where he served most recently as Senior Vice President and Treasurer of Nabisco Holdings Corporation. At Campbell, Schiffner will oversee the Controller, Treasury, Tax and Investor Relations areas and report directly to President and Chief Executive Officer Douglas R. Conant. His appointment is effective February 26. He succeeds Basil L. Anderson, 56, who announced his retirement February 1, 2001.

Campbell also announced today the creation of a new senior-level position to oversee corporate strategy, business development, and information systems. These responsibilities have previously reported to the CFO. Campbell is currently conducting a search to fill the new position, which will also report directly to Conant.

Conant commented, “Bob Schiffner is a talented leader with outstanding financial management experience at both the corporate and operating levels. His intimate knowledge of the food industry and his bias for action will make him a valuable addition to Campbell Soup Company. I know well his commitment to shareowners and his track record for delivering results. I am delighted he will be joining our team.”

Conant added, “Continually sharpening Campbell’s financial and strategic focus is one of my highest priorities. Creating a new position with direct operating responsibility for corporate strategy, business development, and information systems is an important step toward this goal. It will enable us to better assess strategic opportunities, including acquisitions and alliances, while allowing our CFO to concentrate more fully on financial issues. The competitive landscape in the global food industry has changed dramatically and we must take the necessary steps to ensure our organization is superbly positioned to compete and win.”

Schiffner joined Nabisco in 1975 and rose through the finance organization to senior positions at Nabisco Inc. and Nabisco Holdings Corporation prior to last year’s acquisition by Philip Morris. He served as vice president of finance, planning and trade marketing at Nabisco Inc. in the first half of the 90s before joining Nabisco Holdings as Controller from 1995 to 1997 and Treasurer beginning in 1998.

James E. Healey, former CFO of Nabisco, commented, “Bob Schiffner has the vision, scope and experience to help drive Campbell to the next level. He is a true professional in every sense of the word and he will make an excellent CFO.”

Schiffner said, “Campbell has powerhouse brands, a strong financial profile, and a rich tradition. I am excited to be joining Doug Conant and his team and I look forward to helping Campbell reach its full potential.”

Schiffner earned a Bachelor of Arts degree from Princeton University and a Master’s of Business Administration from Rutgers University. He is married with two children and lives in New Jersey.

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.