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CAMPBELL SUCCEEDS IN BID FOR MAJORITY OWNERSHIP OF ARNOTTS LIMITED; HOLDING PASSES 53 PERCENT WITH ANOTHER DAY REMAINING IN OFFER

 CAMDEN, N.J., Feb. 4 /PRNewswire/ -- Campbell Soup Company (NYSE: CPB) announced today that with a day remaining in its tender offer for Arnotts Limited, the world's seventh largest cookie and cracker producer based in Australia, it has achieved majority ownership after Arnotts' second largest shareholder agreed to tender part of its holding.
 Campbell's current ownership position is 53.7 percent. The offer, which originally contained a 50.1 percent condition, closes Feb. 5, 1993, at 5 p.m. (AEDT).
 Campbell President and Chief Executive Officer David W. Johnson said, "This important increase in our ownership position moves us forward decisively in fulfilling our vision of Campbell Brands Preferred Around the World.' Our Biscuit and Bakery division now takes on a truly global perspective, with more than 50 percent of its sales and earnings outside North America.
 "Arnotts' premier brands can now begin to capture an important share of the $3 billion Asian biscuit market," said Johnson. "We will support investment in these valuable brand assets to drive them to their full potential in this fast-growing marketplace.
 "We look forward with enthusiasm to building the great Arnotts' brand in Asia and building on our solid working partnership with Arnotts. Together we will build this great company to new heights over the long term."
 Arnotts will become a pan-regional brand in Asia/Pacific, joining with Campbell's Biscuit and Bakery division's two other pan-regional brands: Pepperidge Farm in North America; and Delacre in Europe.
 Arnotts Limited, founded in 1865, will continue to be publicly traded on the Australian Stock Exchange. Arnotts reported sales of A$693 million (approximately US$465 million) in fiscal 1992.
 /delval/
 -0- 2/4/93
 /CONTACT: Kevin Lowery of Campbell Soup, 609-342-8533/
 (CPB)


CO: Campbell Soup Company; Arnotts Limited ST: New Jersey IN: FOD SU: TNM

MJ-MK -- PH013 -- 2894 02/04/93 10:42 EST
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Date:Feb 4, 1993
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