AFLAC INC — Director's Dealing 2006

May 23, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2006-05-19

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-19	Common Stock	M	3150	$15.0469	Acquired	187215	Direct
2006-05-19	Common Stock	F	1012	$46.865	Disposed	186203	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-19	Employee Stock Option (right to buy)	$15.0469	M	3150	Disposed	2008-06-24	Common Stock (3150)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18596	Indirect
Common Stock	7800	Indirect