AFLAC INC — Director's Dealing 2003

Jul 30, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2003-07-29

Reporting Person: HUDSON ELIZABETH J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-29	Common Stock	M	60000	$5.1563	Acquired	120700	Direct
2003-07-29	Common Stock	F	9675	$31.98	Disposed	111025	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-07-29	Employee Stock Option (right to buy)	$5.1563	M	60000	Disposed	2003-08-10	Common Stock (60000)	Direct