The Silk exhibit will
demonstrate to the festival visitors how tofu and soymilk are made -- from raw
beans to the final product, while the Horizon Organic exhibit will educate
about the benefits of organic food and give the public a chance to learn about
organic farming straight from organic dairy farmers. "The food industry
is evolving as consumers are taking more of an interest in food choices as
part of their overall lifestyle.
Net sales were $6. retail soup sales increased 5
percent, with condensed sales up 6 percent, ready-to-serve sales up 2
percent , and broth sales up 10 percent.
Further details of sales results for the quarter include the
following:

-- Sales of condensed eating soups, which achieved double-digit
sales growth for the first nine months, delivered continued
strong performance for the quarter, more than offsetting sales
declines of cooking soups.
Further details of sales results include the following:

-- Pepperidge Farm experienced strong sales growth in each of its
businesses: bakery, cookies and crackers, and frozen . Operating earnings increased 16 percent to
$129 million, reflecting higher sales.
Further details include the following:

-- Godiva Chocolatier same store sales in North America achieved
double -digit growth as stronger in-store merchandising,
increased advertising and promotional activity and new product
introductions drove higher consumer traffic.

-- Away From Home sales grew significantly , led by continued
strong growth of refrigerated soups for grocery store deli
departments.43
============ ============

Weighted average shares outstanding
- assuming dilution 414 412
============ ============

CAMPBELL SOUP COMPANY CONSOLIDATED
SUPPLEMENTAL SCHEDULE OF SALES AND EARNINGS (unaudited)
(millions, except per share amounts)

THREE MONTHS ENDED
------------------
May 1, May 2, Percent
Sales 2005 2004 Change
----- --------- -------- - ------
Contributions:
U.

cooking culinary

Organic foods, which
are produced without the use of antibiotics , added growth hormones, or
dangerous pesticides, have been growing at a rate of more than 20 percent a
year for the past five years.

International Soup and Sauces

Sales for International Soup and Sauces were $435 million, a 6
percent increase compared with the third quarter of fiscal 2004. participants may
access the call at 1-888-677-5720 and non-U.36 $ .

freezing legumes

Silk Soymilk and Horizon Organic Sponsor 39th Annual Smithsonian Folklife Festival

-- "Campbell's SpaghettiOs " pasta experienced significant sales
growth, continuing to benefit from effective branding and
marketing integration with the "Campbell's" brand. Operating earnings increased 5 percent to
$184 million, due to the favorable impact of currency.S.S. Consequently, the company
believes that investors may be able to better understand earnings if
these transactions are excluded from the results.

legumes canmakers

About WhiteWave Foods Company
WhiteWave Foods was established when Dean Foods (NYSE: DF) consolidated
much of its branded business into one consumer packaged goods organization.

-- Arnott's sales rose, as the business benefited from strong
customer programs and new product launches. Eastern Standard Time.35
============ ============

Dividends $ .

The company believes that earnings per share excluding certain
restructuring related costs and certain other transactions not
considered to be part of the ongoing business are a better indicator
of the true performance of the business.

confections culinary

"
Since 1967, the Smithsonian Folklife Festival has celebrated traditional
cultures from across the United States. The company is maker of the nation's leading certified organic
brands, which include Silk Soymilk, the nation's first refrigerated soymilk,
and Horizon Organic dairy products, eggs and juices . The prior year's
third quarter results included a $10 million after-tax gain from the
settlement of the class action lawsuit. Soup, Sauces and Beverages were $627 million, a 2
percent decrease compared with a year ago.
A breakdown of the change in sales follows:

-- Volume and mix added 5 percent

-- Price and sales allowances added 4 percent

-- Currency added 1 percent

Operating earnings of $27 million were up 13 percent versus the
prior year, driven by strong sales growth.

participants at
1-517-308-9003.1575
============ ============

Weighted average shares outstanding - basic 409 411
============ ============

Per share - assuming dilution
Net earnings $ .

The purpose of this category, and its subcategories , is to provide a comprehensive directory of links to sites with recipes, or cooking contents.

cooker crock

-- Sales of "Pepperidge Farm Goldfish" snack crackers experienced
good gains due to continued momentum of the base brand and the
favorable impact of new advertising featuring the new animated
character , "Finn. and Canada.

gourmetsleuth cooking

"Over the last 40 years, the United States has undergone a food
revolution .

For the first nine months of fiscal 2005, the company reported net
earnings of $611 million, or $1. However, we grew sales of condensed soup 4 percent in the
quarter and 6 percent for the first nine months, the best performance
in many years.

Summary of Fiscal 2005 Third Quarter and Nine Month Results by
Segment U.S.

For the first nine months of fiscal 2005, sales increased 4
percent to $2,577 million.

Other

The balance of the portfolio includes the Godiva Chocolatier
business worldwide and the Away From Home business in the U. Operating earnings increased 11 percent to
$121 million.S. Please refer to the company's most
recent Form 10-K and subsequent filings for a further discussion of
these risks and uncertainties. The "non-GAAP" financial measures are measures of
performance not defined by accounting principles generally accepted in
the United States and should be considered in addition to, not in lieu
of, GAAP reported measures.05
Deduct: Gain on litigation settlement (2) (0.

dips freezing

Folklife Festival's Food Culture USA Celebrates History of Food

BOULDER, Colo. Last year's results included a $.S. For the first nine
months of fiscal 2005, total U.

-- In Asia Pacific, sales rose, driven by higher sales of broth
and beverages, as well as the favorable impact of currency. Soup, Sauces and Beverages includes the following retail
businesses: "Campbell's" brand condensed and ready-to-serve soups,
"Swanson" broth and canned poultry businesses, "Prego" pasta sauce,
"Pace" Mexican sauce, "Campbell's Chunky" chili, "Campbell's" canned
pasta, gravies and beans, "Campbell's Supper Bakes" meal kits, "V8"
vegetable juices, "V8 Splash" juice beverages, and "Campbell's" tomato
juice.

Welcome to Home/Cooking.

legumes ivillage

Conant , Campbell's President and Chief Executive
Officer, said, "Our company's third quarter results continued our
strong year-to-date performance across multiple businesses. In
our U.58.com and can be accessed
by clicking on the "Webcast" banner.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of
high quality soup, sauce, beverage, baking, biscuit, confectionery and
prepared food products.57
Add: Restructuring related costs (1) 0.

toppings cooking

34 in the year-ago
quarter.
U.

-- Sales of ready-to-serve soups declined in the quarter,
reflecting a shift in promotional spending, increased
competitive activity, and the impact of the price increase
effective at the end of February.

Reporting Segments

Beginning in fiscal year 2005 , Campbell Soup Company earnings
results are reported for the following segments:
U.

cooker cooking

-- "Swanson" broth sales increased driven by the growing practice
among consumers of substituting broth for water when cooking.com

Conference Call

The company will host a conference call to discuss these results
on May 23 at 10:00 a.35 $ .35 $ .

gravies dehydrating

Operating earnings decreased 1 percent to
$643 million, as the benefit of higher sales volume and productivity
gains were more than offset by higher energy related costs and
increased trade promotion and advertising.

For the first nine months of fiscal 2005, sales increased 8
percent to $1,303 million. Strong wet soup
growth of "Liebig" soups in France and "Erasco" soups in
Germany was offset by lower sales in the United Kingdom.

Non-GAAP Financial Information

A reconciliation of the adjusted fiscal year 2004 earnings per
share to the reported earnings per share is attached to this release
and can also be found on the company's website at
www.48 $ 1. Soup, Sauces and
Beverages $ 643 $ 652 -1%
Baking and Snacking 129 111 16%
International Soup and Sauces 184 175 5%
Other 121 109 11%
-------- --------
Total operating earnings 1,077 1,047 3%
Unallocated corporate expenses (48) (61)
-------- --------

Earnings before interest and
taxes 1,029 986 4%
Interest, net (134) (125)
Taxes on earnings (284) (273)
-------- --------
Net earnings $ 611 $ 588 4%
======== ========

Net earnings per share
- assuming dilution $ 1.

gourmetsleuth canmakers

"More consumers are
incorporating soy and organic foods into their diets as they look for healthy
and delicious food choices that impact their overall health and well-being.
For the first nine months of fiscal 2005, the company also
reported strong cash flow from operations of $772 million compared
with $576 million in the year-ago period . Soup, Sauces and Beverages segment, lower trade promotion
activity and the pricing action we took at the end of February, as
anticipated, impacted volume unfavorably, especially in ready-to-serve
soup.
"As planned, we have strengthened our margins, leveraging the
pricing action and continuing our aggressive cost management.
Additionally, during the year, the company introduced two
varieties of organic broth into its existing aseptic line.49 $ 1.

dehydrating crock

WhiteWave Foods also
produces International Delight coffee creamer, Land O' Lakes fluid and
cultured dairy products, Hershey's Milks and Milkshakes , Marie's dips and
dressings and TofuTown Tofu Tenders.7 billion,
reflecting the following factors:

Price and sales allowances added 2 percent

Currency added 2 percent

Volume and mix was flat

Net earnings for the third quarter of fiscal 2005 were $146
million compared with $142 million in the prior year.

Highlights of this segment's other businesses include:

-- "Campbell's Chunky" chili continues to perform well in the
marketplace following a successful introduction in the first
quarter.

Forward-Looking Statements

This release contains "forward-looking statements" which reflect
the company's current expectations about its future plans and
performance, including statements concerning the impact of marketing
investments and strategies , pricing, new product introductions,
cost-saving initiatives and quality improvement on sales, earnings and
margins.34
============ ============

Weighted average shares outstanding
- assuming dilution 414 413
============ ============

CAMPBELL SOUP COMPANY CONSOLIDATED
STATEMENTS OF EARNINGS (unaudited)
(millions, except per share amounts)

NINE MONTHS ENDED
-------------------------
May 1, May 2,
2005 2004
------------ ---- --------

Net sales $ 6,050 $ 5,676
------------ ------------

Costs and expenses
Cost of products sold 3,601 3,315
Marketing and selling expenses 951 911
Administrative expenses 403 400
Research and development expenses 68 65
Other income (2) (1)
------------ ---------- --
Total costs and expenses 5,021 4,690
------------ ------------

Earnings before interest and taxes 1,029 986
Interest, net 134 125
------------ ------------
Earnings before taxes 895 861

Taxes on earnings 284 273
------------ ------------
Net earnings $ 611 $ 588
============ ============

Per share - basic
Net earnings $ 1.43
============ ============

Dividends $ .

hannaford canmakers

Net earnings for the prior year
period included the $10 million, or $. We are also looking forward to
next year with new product introductions and a continued emphasis on
enhancing product quality, convenience and availability. The change in sales
reflects the following factors:

-- Volume and mix subtracted 6 percent

-- Price and sales allowances added 2 percent

-- Decreased promotional spending added 2 percent

Operating earnings of $152 million were up 8 percent compared with
the year-ago quarter, due to higher selling prices , lower marketing
spending, and productivity savings, which were partially offset by
volume declines and higher energy related costs.

-- "Campbell's" condensed cooking soups experienced a decline in
sales compared to the quarter a year ago, due to a shift in
marketing spending from the Easter holiday to the higher
potential winter holiday season. These forward-looking statements rely on a number of
assumptions and estimates which could be inaccurate and which are
subject to risks and uncertainties. Founded in 1869, the company has a portfolio
of more than 20 market-leading brands , and had over $7 billion in
sales in 2004. For more information on the company, visit Campbell's
website on the Internet at www.4725
============ ============

Weighted average shares outstanding - basic 409 411
============ ============

Per share - assuming dilution
Net earnings $ 1.

Fiscal Year Ended
-----------------
August
1, 2004
-----------------

As reported earnings per share $ 1.

legumes culinary

Also driven by the health-conscious consumer, the
organic food industry has realized tremendous growth.

Business Editors

CAMDEN, N. Sales of "Campbell's" condensed
cooking and eating soups continue to benefit from the
installation of gravity-feed shelving systems , which are now
in more than 13,000 stores.

Baking and Snacking

Sales for Baking and Snacking were $421 million, an 8 percent
increase compared with a year ago.
A breakdown of the change in sales follows:

-- Volume and mix added 2 percent

-- Increased promotional spending subtracted 1 percent

-- Currency added 5 percent

Operating earnings increased 4 percent to $59 million, due to the
favorable impact of currency. Actual results could vary
materially from those anticipated or expressed in any forward-looking
statement made by the company.com

CAMPBELL SOUP COMPANY CONSOLIDATED
STATEMENTS OF EARNINGS (unaudited)
(millions, except per share amounts)

THREE MONTHS ENDED
------- -------------------
May 1, May 2,
2005 2004
------------ ------------

Net sales $ 1,736 $ 1,667
------------ ------------

Costs and expenses
Cost of products sold 1,035 995
Marketing and selling expenses 275 278
Administrative expenses 145 141
Research and development expenses 24 23
Other income (2) (13)
------------ ------------
Total costs and expenses 1,477 1,424
------------ ------------

Earnings before interest and taxes 259 243
Interest, net 45 40
------------ ---- --------
Earnings before taxes 214 203

Taxes on earnings 68 61
------------ ------------
Net earnings $ 146 $ 142
============ ============

Per share - basic
Net earnings $ .S.34 3%
========= ========

CAMPBELL SOUP COMPANY CONSOLIDATED
SUPPLEMENTAL SCHEDULE OF SALES AND EARNINGS (unaudited)
(millions, except per share amounts)

NINE MONTHS ENDED
------------------
May 1, May 2, Percent
Sales 2005 2004 Change
----- -------- -------- -------
Contributions:
U .02)
-----------------

Earnings per share, excluding restructuring
related costs and one-time items $ 1.

cooking womenof

S. We have
significantly increased cash flow from operations and strengthened our
balance sheet. The convenience platform ,
which includes "Campbell's Soup at Hand" sippable soups and
microwaveable bowls of "Campbell 's Chunky" and "Campbell's
Select," achieved strong sales in the quarter.

-- Sales of "Prego " pasta sauces and "Pace" Mexican sauces
declined in the quarter due to a reduction in marketing
spending and increased competitive activity. and
Canada.48 $ 1.

cooker casseroles

Organic and soy foods are part of the
greater trend to choose great-tasting, nutritious foods that consumers feel
good about. We expect a solid fourth quarter as the impact of the
price increase on volume moderates.

-- "V8" vegetable juice sales increased in the quarter, while
sales of "V8 Splash" beverages declined due to continued
competitive pressures.m.S.
Baking and Snacking includes the following businesses: "Pepperidge
Farm" cookies, crackers, breads and frozen products in U.
International Soup and Sauces includes the soup, sauce and
beverage businesses outside of the United States, including Canada,
Europe , Mexico, Latin America, and the Asia Pacific region.17 $ .51 $ . The items include the following:

-- Earnings per share (EPS), excluding restructuring related
costs and one-time items

The table below reconciles earnings per share, presented in
accordance with GAAP, to earnings per share excluding restructuring
related costs and other one-time items.

(2) The gain relates to the settlement of a class-action lawsuit
involving ingredient suppliers.

fondue ivillage

, The 2005 Smithsonian Folklife
Festival celebrates the story of food in America with elaborate displays and
live presentations on how food makes it from the field to the family dinner
table. Silk Soymilk and Horizon Organic will be featured in the artesian food
section during the 10-day event, which takes place on the National Mall from
June 23 through June 27 and June 30 through July 4."
According to Soyatech, a research firm that tracks the soy industry, the
market for soyfoods has grown over 200% since the year 2000 with sales
exceeding $4 billion in 2004 as soy was discovered by mainstream shoppers for
its many health benefits. In addition to learning about soy and
organic food choices, festival visitors will also learn about the food trend
that has revitalized the older crafts of producing cheese, bread , olives, and
chocolate.48 per share, versus $588 million, or
$1.02 per share, after-tax gain
from the settlement of the class action lawsuit.1 billion for the first nine months of fiscal
2005, an increase of 7 percent compared with the year-ago period,
reflecting the following factors:

-- Volume and mix added 5 percent

-- Price and sales allowances added 1 percent

-- Increased promotional spending subtracted 1 percent

-- Currency added 2 percent

Douglas R."
The company confirmed its fiscal 2005 guidance for earnings per
share to increase between 5 and 7 percent from the adjusted fiscal
year 2004 base of $1.
A breakdown of the change in sales follows:

-- Volume and mix added 4 percent

-- Price and sales allowances added 4 percent

-- Increased promotional spending subtracted 1 percent

-- Currency added 1 percent

Operating earnings increased 33 percent to $36 million compared
with the year-ago quarter, driven by higher selling prices, sales
volume gains and productivity savings, as well as lower expenses in
the Australian Snackfoods business, partially offset by higher
commodity costs.
Further details of sales results include the following:

-- Sales in Europe were up compared with a year ago, primarily
due to the favorable impact of currency.
Sales grew 10 percent to $253 million compared with the same
period a year ago.

For the first nine months of fiscal 2005, sales increased 12
percent to $817 million.S.

(3) The gain relates to the sale of an idle facility in California.

ivillage crock

In fact, 75 percent of Americans believe diet is a better influence on health
than medicine.
Headquartered in Colorado, WhiteWave Foods is a leader in sustainable business
practices and manufactures innovative , authentic and nutritious branded food
products.----Campbell Soup Company
(NYSE:CPB) today reported diluted earnings per share for the third
quarter ended May 1, 2005 of $. We are
very pleased with the performance of Pepperidge Farm, Arnott's
biscuits, Godiva Chocolatier, and our Away From Home soup business. The company also said that capital
expenditures for the year are now projected to be approximately $350
million, versus a previous forecast of $380 million, with a portion of
the reduced spending shifting to fiscal 2006. For the nine months, sales of
cooking soups were flat, which is a significant improvement
over historical trends.

-- Sales of fresh bread and bakery products were up double digits
for the third consecutive quarter. Participants should call at least five minutes prior
to the starting time. The passcode is "Campbell Soup" and the
conference leader is Len Griehs.campbellsoupcompany. retail,
"Arnott's" biscuits in Australia and Asia Pacific, and "Arnott's"
salty snacks in Australia.

hannaford stuffings

02 gain from Campbell's
share of a class action settlement involving ingredient suppliers.43 per share for the prior year.S.S. retail soup sales for the quarter were flat compared with a
year ago, with condensed soup sales up 4 percent, ready-to-serve soup
sales down 6 percent, and broth sales up 7 percent.

-- "Pepperidge Farm" cookie sales achieved double -digit growth in
the quarter, driven by Chocolate Chunk cookies, the
introduction of a new line of sugar-free cookies, and four new
varieties of soft-baked cookies.

-- In Canada, sales increased significantly, driven by volume
gains in ready-to-serve soup and "V8" beverages, as well as
the favorable impact of currency. The company disclaims any obligation or
intent to update the forward-looking statements in order to reflect
events or circumstances after the date of this release. Soup, Sauces and
Beverages $ 152 $ 141 8%
Baking and Snacking 36 27 33%
International Soup and Sauces 59 57 4%
Other 27 24 13%
--------- --------
Total operating earnings 274 249 10%
Unallocated corporate expenses (15) (6)
--------- --------

Earnings before interest and
taxes 259 243 7%
Interest , net (45) (40)
Taxes on earnings (68) (61)
--------- --------
Net earnings $ 146 $ 142 3%
========= ========

Net earnings per share -
assuming dilution $ .S.43 3%
======== ========

CAMPBELL SOUP COMPANY CONSOLIDATED
BALANCE SHEETS (unaudited )
(millions)

May 1, May 2,
2005 2004
---------- ----------

Current assets $ 1,419 $ 1,340

Plant assets, net 1,911 1,834

Intangible assets, net 3,153 2,996

Other assets 330 273
---------- ----------

Total assets $ 6,813 $ 6,443
========== ==========

Current liabilities $ 1,900 $ 2,187

Long-term debt 2,541 2,543

Nonpension postretirement benefits 290 301

Other liabilities 714 536

Shareowners' equity 1,368 876
---------- ----------

Total liabilities and shareowners ' equity $ 6,813 $ 6,443
========== ==========

Total debt $ 2,988 $ 3,312
========== ==========

Cash and cash equivalents $ 32 $ 28
========== ==========

Reconciliation of GAAP and Non-GAAP Financial Measures

Campbell Soup Company uses certain "non-GAAP" financial measures
as defined by the Securities and Exchange Commission in certain
communications .

timesaving womenof

The addition of soy foods and organic foods to the mainstream
diet is a good example of that revolution ," said Joan Nathan, Smithsonian
guest curator and award-winning cookbook author. As leaders in the food industry, Silk and Horizon Organic are
dedicated to innovation and education while delivering healthy and delicious
options for families. Chefs, cooks, growers,
and food lovers will share their traditional knowledge and spirit of
innovation as they create meaning from sustenance. "Campbell 's" condensed eating soups
achieved solid sales growth in part due to the combination of
successful merchandising and kids promotional marketing
programs, as well as increased advertising and pricing . Microwaveable bowls, which were introduced mid-year,
and a new Hold The Beans variety in cans, have been
well-received. Top performers included
"Pepperidge Farm" whole grain breads, as well as its lines of
improved bagels and English muffins.

For the first nine months of fiscal 2005, sales increased 8
percent to $1,353 million.campbellsoupcompany.campbellsoupcompany.

freezing womenof

They will see how spices and herbs from around the world are
cultivated, processed, and preserved, and much more.J.
Other includes the Godiva Chocolatier business worldwide and the
Away From Home business in the U.

mimi casseroles

35, compared with $.
For the third quarter, net sales rose 4 percent to $1. The increase was driven by
improved working capital performance, lower cash settlements related
to foreign currency hedging transactions and higher earnings. U. Soup, Sauces and
Beverages $ 627 $ 637 -2%
Baking and Snacking 421 389 8%
International Soup and Sauces 435 412 6%
Other 253 229 10%
--------- --------
Total sales $ 1,736 $ 1,667 4 %
========= ========

Earnings
--------
Contributions:
U.S.02)
Gain on sale of property (3) (0.

crock gourmetsleuth

"We are pleased to participate in this historical event," says Mike Keown,
senior vice president of marketing and research and development at WhiteWave
Foods, maker of both the Silk and Horizon Organic brands.

Campbell Reports Third Quarter Earnings Per Share of $.35; Net Sales Increase 4 Percent; Baking and Snacking Delivers Strong Performance

Soup, Sauces and Beverages

Sales for U."

-- "Pepperidge Farm" frozen products continued to experience
growth across pot pies, frozen breads, and frozen pastries . The call will also be broadcast live
over the Internet at www. A recording of the call will be
available approximately two hours after it is completed through
midnight May 27, 2005 at 1-866-459-3544 or 1-203-369-1333.S.S. Soup, Sauces and
Beverages $ 2,577 $ 2,487 4%
Baking and Snacking 1,303 1,202 8%
International Soup and Sauces 1,353 1,255 8%
Other 817 732 12%
-------- --------
Total sales $ 6,050 $ 5,676 7%
======== ========

Earnings
--------
Contributions:
U.58
=================

(1) The costs relate to the worldwide cost savings initiatives and
Australian distribution and logistics realignment announced on
June 24, 2004.