AFLAC INC — Director's Dealing 2006

Nov 22, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2006-11-21

Reporting Person: Davis Rebecca Colwell (Exec. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-21	Common Stock	M	4444	$22.5	Acquired	37822	Direct
2006-11-21	Common Stock	M	2000	$21.1563	Acquired	39822	Direct
2006-11-21	Common Stock	M	6588	$15.0469	Acquired	46410	Direct
2006-11-21	Common Stock	M	2726	$21.1563	Acquired	49136	Direct
2006-11-21	Common Stock	M	15274	$21.1563	Acquired	64410	Direct
2006-11-21	Common Stock	M	6298	$22.5	Acquired	70708	Direct
2006-11-21	Common Stock	M	772	$23.65	Acquired	71480	Direct
2006-11-21	Common Stock	S	31658	$44.2977	Disposed	39822	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-21	Employee Stock Option (right to buy)	$15.0469	M	6588	Disposed	2008-06-24	Common Stock (6588)	Direct
2006-11-21	Employee Stock Option (right to buy)	$21.1563	M	2000	Disposed	2010-02-08	Common Stock (2000)	Direct
2006-11-21	Employee Stock Option (right to buy)	$21.1563	M	2726	Disposed	2010-02-08	Common Stock (2726)	Direct
2006-11-21	Employee Stock Option (right to buy)	$21.1563	M	15274	Disposed	2010-02-08	Common Stock (15274)	Direct
2006-11-21	Employee Stock Option (right to buy)	$22.5	M	4444	Disposed	2009-12-16	Common Stock (4444)	Direct
2006-11-21	Employee Stock Option (right to buy)	$22.5	M	6298	Disposed	2009-12-16	Common Stock (6298)	Direct
2006-11-21	Employee Stock Option (right to buy)	$23.65	M	772	Disposed	2012-01-03	Common Stock (772)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5901	Indirect
Common Stock	3038	Indirect