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ATLANTIC AMERICAN CORP Director's Dealing 2007

May 7, 2007

34495_dirs_2007-05-07_5bc31264-ecb5-4f34-832c-51510f966538.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ATLANTIC AMERICAN CORP (AAME)
CIK: 0000008177
Period of Report: 2007-05-07

Reporting Person: FISCHER HAROLD K (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-07 Common Stock P 1000 $2.68 Acquired 1347666 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2007-05-07 Option to Buy $2.68 D 1000 Disposed 2007-05-07 Cmn Stk (1000) Direct