ATLANTIC AMERICAN CORP — Director's Dealing 2005

Feb 4, 2005

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: ATLANTIC AMERICAN CORP (AAME)
CIK: 0000008177
Period of Report: 2004-12-31

Reporting Person: ROBINSON HARRIETT J (Director, 10% Owner, Trustee under Rule 16a-8)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	556410	Direct
Common Stock	6720	Direct
Common Stock	14262	Indirect
Common Stock	3414502	Indirect
Common Stock	3953256	Indirect
Common Stock	4026992	Indirect
Common Stock	1997129	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option to Buy	$		Cmn Stk (3000)	3000	Direct

Footnotes

F1: Mrs. Robinson also has a direct ownership of 6720 shares owned jointly with her grandson.

F2: Mrs. Robinson has an indirect ownership interest in 14262 shares in a 401(k) Plan based on a plan statement as of December 31, 2004, owned by Mr. Robinson and for which Mrs. Robinson expressly disclaims beneficial ownership.

F3: Mrs. Robinson also has an indirect ownership interest in 3414502 shares owned by Gulf Capital Services for which her spouse individually holds a 24% interest in the Partnership, with the remaining partnerships held in equal shares by Trust for the benefit of the reporting person's daughters, with the reporting person as Trustee.

F4: Mrs. Robinson also has an indirect ownership interest in 3953256 shares held by self as Trustee for daughter, Robin Robinson, securities held directly by Trust, for which Mrs. Robinson expressly disclaims beneficial ownership of such securities.

F5: Mrs. Robinson also has an indirect ownership interest in 4026992 shares held by self as Trustee for daughter, Jill Robinson, securities held directly by Trust, for which Mrs. Robinson expressly disclaims beneficial ownership of such securities.

F6: Mrs. Robinson also has an indirect ownership interest in 1997129 shares, of which 750427 shares are held by spouse; 946702 shares are held by Delta Life Ins. Co.; and, 300000 shares are held by Delta Fire & Casualty Ins. Co., all of which Mrs. Robinson expressly disclaims any beneficial ownership of such securities.

F7: Mrs. Robinson also has a direct ownership interest in options to acquire 3000 shares of common stock granted under the Company's 1996 Non-Employee Director Stock Option Plan at exercise prices ranging from $1.90 to $2.6875.