Campbell Soup Company (NYSE:CPB) today announced that the company's Board of Directors has approved a 14 percent increase in its quarterly dividend from $0.22 per share to $0.25 per share. The quarterly dividend is payable November 3, 2008 to shareowners of record at the close of business on October 6, 2008. On an annual basis, the dividend will increase from $0.88 per share to an indicated $1.00 per share.

Douglas R. Conant, Campbell’s President and Chief Executive Officer, said, “This dividend increase demonstrates our ongoing commitment to creating shareowner value and reflects our confidence in the long-term growth prospects of 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, 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.

Contacts:

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