AFLAC INC — Director's Dealing 2005

Jun 1, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2005-05-31

Reporting Person: SMITH JOSEPH W JR (Sr Vice-President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-31	Common Stock	M	6100	$7.9167	Acquired	170947	Direct
2005-05-31	Common Stock	S	6100	$41.77	Disposed	164847	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-31	Employee Stock Option (right to buy)	$7.9167	M	6100	Disposed	2006-02-13	Common Stock (6100)	Direct