AFLAC INC — Director's Dealing 2008

Nov 3, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2008-10-30

Reporting Person: CLONINGER KRISS III (Director, Pres. Aflac Incorporated/CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-10-30	Common Stock	M	69897	$26.785	Acquired	200265	Direct
2008-10-30	Common Stock	S	69897	$43.5272	Disposed	130368	Direct
2008-10-31	Common Stock	M	55103	$26.785	Acquired	185471	Direct
2008-10-31	Common Stock	S	47603	$43.5051	Disposed	137868	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-10-30	Employee Stock Option (right to buy)	$26.785	M	69897	Disposed	2011-08-14	Common Stock (69897)	Direct
2008-10-31	Employee Stock Option (right to buy)	$26.785	M	55103	Disposed	2011-08-14	Common Stock (55103)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6839	Indirect
Common Stock	65420	Indirect
Common Stock	26873	Indirect
Common Stock	46	Indirect
Common Stock	81785	Indirect

Footnotes

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