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CAMPBELL SOUP SHAREOWNERS CELEBRATE 'PROUD PERFORMANCE,' HEAR REPORT ON COMPANY, ELECT DIRECTORS

 CHERRY HILL, N.J., Nov. 19 ~PRNewswire~ -- Campbell Soup Company (NYSE: CPB) President and CEO David W. Johnson praised Campbell employees today at the company's annual meeting of shareowners for their record-breaking, "Proud Performance" in fiscal year 1992 and told shareowners, "We are in the infant days of fulfilling Campbell's great worldwide potential."
 Johnson outlined the company's strategies to achieve its "Campbell Brands


Preferred Around the World" to more than 1,000 shareowners who attended the annual meeting held at the Garden State Pavilion:
 -- Leverage brand power to build profitable volume: "I believe we possess the greatest array of brands of any food company in the world. That brand power is the key to our success."
 -- Focus on the global marketing of core competencies which include soup and biscuits. Shareowners heard of the company's successes in introducing soup in China, Poland and Argentina and biscuits in Canada, Mexico and Germany.
 -- Build and expand low-cost business systems: "We have made great strides in installing next-generation technology into our soup and biscuit plants. Pepperidge Farm's newest bakery in Denver, Pa., is the most technologically advanced bakery in the world and recently was named 'Plant of the Year' by Food Engineering magazine."
 -- Reconfigure the company's business portfolio. "We will sell or exit those businesses which are identified as non-strategic. We also will acquire strategic businesses. We want to apply our resources against businesses where we will get the greatest returns."
 At the meeting, Campbell's three division heads outlined their plans for moving Campbell brands into more prominent positions around the globe and highlighted how the divisions are breaking barriers to achieve common goals:
 Richard Shea, senior vice president and president-Campbell Biscuit and Bakery division, highlighted his organizational plan to develop products throughout the Pacific Rim markets including Japan, Korea, Hong Kong and Singapore using the Campbell Asia Soup Group.
 Robert Subin, vice president and president-Campbell Europe~Asia division, described the early successes of launching Campbell soups, adapted to local tastes, in China, using soup production facilities in California.
 Herbert M. Baum, executive vice president and president-Campbell North and South America, told of the sharing of ideas and leveraging of resources to move more quickly into Canada and South America. During the past year, Campbell opened up a major new soup market in Argentina by using the company's wholly owned subsidiary there.
 David Johnson also noted the importance of the company's recent bid for all outstanding shares of Arnotts Ltd. of Australia, the seventh largest biscuit manufacturer in the world, above the 33 percent that Campbell already owns. "This will be one of the most strategic acquisitions in the company's history. It is a natural step in fulfilling our vision of 'Campbell Brands Preferred Around the World,'" Johnson said. "Together, Arnotts and Campbell make a winning combination. We see the great Arnotts brands springboarded into Asia. We will provide knowhow, a strong infrastructure, and a marketing team committed to long-term tenacity in developing the huge and fast-growing markets in Asia."
 Johnson said Campbell is looking forward to new business and growth in Asia through acquisition of Arnotts. "We have the products, the critical mass and the people power to compete and win. Success in Asia is integral in our drive to become the world's leading producer, distributor and marketer of premium biscuits."
 Johnson summarized the presentations by saying, "We have infused everyone at Campbell with a 'Make A Difference' attitude which has resulted in more energetic and resourceful people." He concluded by inviting shareowners to become part of the team for making Campbell brands preferred around the world.
 Shareowners elected 16 directors at the meeting. Elected were:
 -- Alva A. App, senior scientific adviser to the United Nations Development Programme.
 -- Robert A. Beck, chairman emeritus of The Prudential Insurance Company of America.
 -- Edmund M. Carpenter, chairman and chief executive officer of General Signal Corporation.
 -- Bennett Dorrance, private investor and chairman and managing director of DMB Associates.
 -- John T. Dorrance III, owner and operator of Ipy Cattle Ranch.
 -- Thomas W. Field Jr., management consultant, Field & Associates.
 -- Jon M. Huntsman, chairman and chief executive officer of Huntsman Chemical Corporation.
 -- David W. Johnson, president and chief executive officer, Campbell Soup Company.
 -- Philip E. Lippincott, chairman and chief executive officer of Scott Paper Company.
 -- Mary Alice Malone, president of Iron Spring Farm, Inc., Chester County, Pa.
 -- Charles H. Mott, president and chief executive officer of John W. Bristol & Co., an investment management firm.
 -- Ralph A Pfeiffer Jr., director of various corporations, and retired senior vice president of International Business Machines Corporation.
 -- Donald M. Stewart, president and chief executive officer of The College Board.
 -- George Strawbridge Jr., private investor, Adjunct Professor of Widener University, and president of Augustin Stables.
 -- Robert J. Vlasic, chairman of Campbell Soup Company.
 -- Charlotte C. Weber, trustee of The Metropolitan Museum of Art, New York and director of the New York Women's Foundation.
 Shareowners ratified the appointment of Price Waterhouse as the company's independent public accountants for fiscal year 1993.
 Shareowners defeated a proposal concerning minimum stock ownership for directors. In recommending a "no" vote on the proposal, Campbell's board noted that the percentage of company stock held by Campbell directors far exceeds the percentage held by directors at other major companies.
 Shares represented in person or in proxy at the meeting totalled approximately 225 million shares or approximately 90 percent of outstanding shares.
 ~delval~
 -0- 11~19~92
 ~CONTACT: Kevin G. Lowery, 609-342-8533, or Leonard F. Griehs (financial), 609-342-6428, both of Campbell Soup~
 (CPB)


CO: Campbell Soup Company ST: New Jersey IN: FOD SU:

CC -- PH020 -- 2900 11~19~92 12:35 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Nov 19, 1992
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