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Campbell Soup Company Holds Groundbreaking Ceremony for World Headquarters Expansion

Expansion Will Transform Gateway District, Help Renew Camden

CAMDEN, N.J.–(BUSINESS WIRE)–

Campbell Soup Company (NYSE:CPB) executives along with New Jersey
Governor Jon S. Corzine, Camden Chief Operating Officer Judge Theodore
Z. Davis, Camden Mayor Gwendolyn Faison and Freeholder Louis Cappelli
held a groundbreaking ceremony today for the company’s new World
Headquarters building. Hundreds of community members and state and
local leaders attended the historic event to celebrate the $90 million
expansion which reflects Campbell’s longstanding commitment to Camden,
its home since 1869.

At a morning news conference, Campbell President and CEO Douglas
R. Conant outlined plans for the 80,000 square foot employee services
building and the planned 100-acre office park in Camden’s Gateway
District.

Conant said, “Getting to this point has not been easy. But good
things often don’t come easy. We’ve persevered with help from many
partners and friends.”

Conant recognized the strong partnership between Campbell, the
Corzine administration, Camden County and City officials and the
numerous community organizations that have supported the project.

“We would not be here today if it were not for the overwhelming
support of all of you,” Conant said.

As part of the expansion and development agreement, the State of
New Jersey and the City and County of Camden are investing $23 million
to improve the area’s infrastructure.

“This expansion project is a testament to how public – private
partnerships can bring about significant change in our urban areas,”
said Governor Jon S. Corzine. “Campbell’s commitment has been vital to
our ongoing efforts to revitalize Camden, and this kind of leadership
should serve as an example to other companies in cities across New
Jersey.”

Today’s groundbreaking is the official start of construction on
Campbell’s new employee services building, which was designed by
Philadelphia-based architects KlingStubbins and will feature a
dramatic glass entrance and lobby with super-graphics. The building
will include a new cafe, fitness center, company store and credit
union, as well as additional office space, conference rooms and a
learning and development center.

Consistent with Campbell’s commitment to corporate social
responsibility and environmental sustainability, the building will be
an environmentally-friendly, LEED-certified (Leadership in Energy and
Environmental Design) “green” facility. Some of the environmental
features include energy efficient HVAC, water conservation, recycled
building materials, and daylight harvesting techniques, among others.

Torcon Inc. is the general contractor and Greyhawk is the on-site
construction manager/owner’s representative on the project.

The building is scheduled for completion in early 2010.

Campbell’s expansion is the anchor of a broader project to
revitalize Camden’s Gateway District. Plans are underway to develop an
office park which will bring many benefits to the region, including:

    --  Revitalization - The planned office park will sit on
        approximately 100 acres, with Campbell's campus covering
        approximately 40 acres. The proposed office park would cover
        parcels previously containing vacant and neglected buildings
        and empty lots.

    --  Development - The planned office park will accommodate
        approximately 200,000 square feet of office space. Campbell
        will work with state and local officials to attract developers
        and other businesses to Camden.

    --  Improved Roadways and Utilities - The state, city and county
        plan to invest in infrastructure to improve roads and upgrade
        the water and sewer service in the area.

    --  Greenways - Campbell has dedicated a portion of its land to
        Camden Greenways, an organization that helps preserve natural
        areas along the rivers running through Camden. The land will
        be used to create multi-use public access trails and pathways.

Camden Chief Operating Officer Judge Theodore Z. Davis said, “A
vision and an immensely cooperative effort among state, county and
city agencies has produced what will be a magnificent symbol of
progress toward the revitalization of the City of Camden. Campbell
Soup Company is really to be applauded.”

The groundbreaking follows Campbell’s announcement last week that
it would contribute $10 million to Camden’s neighborhood
revitalization efforts, job training initiatives and projects to
benefit youth, such as after-school and summer programs. The $10
million Public Benefits Plan will be funded over the next five years
by Campbell and the Campbell Soup Foundation, the company’s
philanthropic arm.

Camden Mayor Gwendolyn Faison said, “Thank you for your continuous
love for the City of Camden and its people.”

Conant concluded, “We have a vested interest in seeing our city
grow. With our government partners, we will work tirelessly to attract
new businesses to this city. Simply stated, Campbell’s expansion in
Camden is good for our employees, it’s good for our business and for
our shareowners, and it’s good for our community.”

Located in Camden since its founding in 1869, Campbell is the
longest-standing corporate tenant and the only Fortune 500 company in
the city. The company has approximately 1,200 full-time employees and
500 contractors at its headquarters. Campbell has been an active
participant in Camden’s redevelopment through a number of initiatives,
including its ongoing activities through the Campbell Soup Foundation,
which is dedicated to supporting organizations that inspire positive
change in the communities where Campbell operates.

For Campbell, the groundbreaking on the new building marks the
first major development to its headquarters since the construction of
the Dr. John T. Dorrance Culinary Center in 2003.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of
high-quality foods and simple meals, including soup, baked snacks, and
healthy beverages. Founded in 1869, the company has a portfolio of
market-leading brands, including “Campbell’s,” “Pepperidge Farm,”
“Arnott’s,” and “V8.” For more information on the company, visit
Campbell’s website at www.campbellsoup.com.

Source: Campbell Soup Company