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Campbell Outlines Entry Strategy and Product Plans for Russia and China

    Company to Launch New Products in World's Largest Soup Markets

CAMDEN, N.J.–(BUSINESS WIRE)–July 9, 2007–Campbell Soup Company
(NYSE:CPB), the world’s largest soup company, today outlined its entry
strategy and product plans for Russia and China, the world’s two
largest soup consumption markets.

Since 2001, Campbell has revitalized its core North American soup
business and streamlined its international operations through the sale
of its businesses in the United Kingdom and Ireland. Campbell is now
expanding its global focus to include the two soup markets with the
highest growth potential. Soup consumption in Russia and China far
exceeds that of the United States, where there are approximately 14
billion soup servings consumed per year. In Russia, there are
approximately 32 billion soup servings annually, approximately 225
servings per capita, and in China, annual soup servings are
approximately 320 billion, more than 241 servings per capita, with
nearly all of it in both countries being homemade.

Campbell’s expansion into Russia and China supports two of the
company’s five key strategies: to expand the company’s icon brands
within the simple meals and baked snacks categories; and to make its
products more broadly available in existing and new markets.

Douglas R. Conant, Campbell’s President and Chief Executive
Officer, said, “The soup markets of China and Russia represent an
extraordinary opportunity for Campbell. Soup is consumed in huge
amounts in these countries, and Campbell is exceptionally qualified to
lead the soup commercialization activity due to our unrivaled
understanding of consumers’ soup consumption behavior, innovative
technology capabilities, supply chain excellence, and our superior
marketing prowess within the simple meals category. We call this the
Campbell advantage.

“We have invested the time and resources to understand each
market, partnered with strong local companies, and developed delicious
products that we believe will appeal to the unique tastes of the
people in each country,” Conant continued. “Our timing is right.
Income levels are rising in both countries, and consumers are
increasingly time pressed and seeking more convenient ways to prepare
nourishing meals while maintaining their central role in family meal
preparation. Campbell’s new products can play a key role in minimizing
the time it takes to prepare homemade soup, a staple of peoples’ diets
in both countries.”

Campbell conducted extensive research and development in both
markets and studied consumers’ soup preparation practices and eating
habits, including more than 10,000 consumer interviews and thousands
of household tests. The company plans to introduce a variety of
delicious broths designed to serve as a base for the soups and other
meals Russian and Chinese consumers prepare at home. These broths are
customized for the tastes, trends, and eating habits of consumers in
each country.

“During our immersion in the Russian and Chinese markets, we
recognized that in order to convert homemade behavior, we would have
to offer products that enabled the preparer to use them as foundations
for their favorite recipes,” said Larry McWilliams, President,
Campbell International.

Campbell will present details of its entry strategy for Russia and
China at a meeting with investors being held at its headquarters in
Camden, New Jersey, today. The presentation can be accessed via a Web
cast at www.campbellsoupcompany.com beginning at 2:30 p.m. Eastern
Time.

Russia

Campbell will introduce three varieties of “Campbell’s Domashnaya
Klassika” (“Campbell’s Home Classics”): chicken, beef, and mushroom.
These high-quality, delicious concentrated broths will contain chunks
of chicken, beef, and mushroom, as well as vegetables. Packaged in
portable pouches that bear Campbell’s signature red and white iconic
branding, the broths initially will be rolled out in the Moscow region
and are expected to be available in stores in October 2007. The Moscow
region has approximately 17 million people.

Campbell developed these broths to meet Russian consumers’ high
standards, while also reducing the amount of time it takes to prepare
soup at home. “Campbell’s Domashnaya Klassika” is designed to allow
Russian consumers to prepare their favorite homemade recipes and save
them up to an hour of preparation time.

Bridgetown Foods, a leading baked snacks manufacturer, with more
than 1,000 sales representatives and a national distribution network
with a presence in more than 66 cities across Russia, will distribute
the products.

China

In China, Campbell will introduce two varieties of broth under the
“Campbell’s” “Swanson” brand: a clear chicken broth and a classic
“superior” broth (known as Gao Tang in China) made up of a combination
of chicken, Hainan ham, and pork. Both broths are designed for use in
a wide range of Chinese cooking, including soup preparation, hot pot,
braising vegetables, and preparing noodle dishes, among others.

Designed to provide delicious and healthy options for Chinese
consumers, both new broth recipes are made from all natural
ingredients, contain no added MSG, and are 97 percent fat free.

Campbell has been successfully selling “Swanson” broth in Hong
Kong for more than 20 years. “Swanson” broth is found in more than 86
percent of Hong Kong homes, and the brand has more than a 90 percent
share of the Hong Kong broth market. Campbell will leverage the
Swanson branding and aseptic packaging for its new broths.

The company plans to introduce these broths in early October in 5
cities in the Guandong Province, with a total population of
approximately 32 million: Guangzhou, Shenzen, Donguan, Zhongshan, and
Foshan.

Swire Beverages, Coca-Cola’s largest bottling partner in China,
with an extensive sales and distribution network with more than 3,000
sales representatives and more than 524,000 points of sale throughout
China, will distribute the products. Swire Beverages is a subsidiary
of Swire Pacific, which has been operating in Greater China for more
than 130 years.

Marketing Plans

Campbell will launch comprehensive marketing plans in each market
to support these new broths, including broadcast, print, and Internet
advertising, as well as in-store promotions and sampling programs. To
educate consumers about how to use the broths in meal preparation and
the products’ benefits, Campbell plans to deliver 1.7 million samples
and recipe booklets in the Moscow region and approximately 10 million
samples and recipe booklets in China.

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.

Forward-Looking Statements

This release contains “forward-looking statements” that reflect
the company’s current expectations about its future performance. These
forward-looking statements rely on a number of assumptions and
estimates that could be inaccurate and which are subject to risks and
uncertainties. These include, but are not limited to, statements about
future plans, strategies, opportunities and objectives of management;
statements about opportunities to expand operations into emerging
markets; statements concerning expected development, market
performance or consumption trends of new or reformulated products;
statements concerning projections of sales, earnings or volume growth;
and statements regarding assumptions underlying any of the foregoing,
as well as other factors described in the company’s most recent 10-K,
as updated from time to time by the company in its subsequent filings
with the Securities and Exchange Commission. Actual results could vary
materially from those anticipated or expressed in any forward-looking
statements made by the company.

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

    SOURCE: Campbell Soup Company