AFLAC INC — Director's Dealing 2005

Feb 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2005-02-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-16	Common Stock	M	6134	$7.9167	Acquired	164847	Direct
2005-02-17	Common Stock	M	2800	$7.9167	Acquired	167647	Direct
2005-02-17	Common Stock	S	2800	$38.97	Disposed	164847	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-16	Employee Stock Option (right to buy)	$7.9167	M	6134	Disposed	2006-02-13	Common Stock (6134)	Direct
2005-02-17	Employee Stock Option (right to buy)	$7.9167	M	2800	Disposed	2006-02-13	Common Stock (2800)	Direct