AFLAC INC — Director's Dealing 2008

May 19, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2008-05-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-16	Common Stock	M	100000	$21.1563	Acquired	278580	Direct
2008-05-16	Common Stock	S	90000	$67.3013	Disposed	188580	Direct
2008-05-16	Common Stock	G	7500	—	Disposed	181080	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-16	Employee Stock Option (right to buy)	$21.1563	M	100000	Disposed	2010-02-08	Common Stock (100000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6839	Indirect
Common Stock	65420	Indirect
Common Stock	1759	Indirect
Common Stock	46	Indirect
Common Stock	50551	Indirect

Footnotes

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