AFLAC INC — Director's Dealing 2004

Aug 11, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2004-08-10

Reporting Person: LOUDERMILK JOEY M (Exec.VP & Corporate Secretary)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-08-10	Employee Stock Option (right to buy)	$38.32	A	40000	Acquired	2014-08-10	Common Stock (40000)	Direct

Footnotes

F1: Granted under the AFLAC Incorporated 1997 Stock Option Plan, which is a rule 16b-3 plan with tandem tax withholding rights.

F2: The option will vest 13,333 shares on 08/10/05, 13,333 shares on 08/10/06, and 13,334 shares on 08/10/07.