ATLANTIC AMERICAN CORP — Director's Dealing 2008

Sep 17, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ATLANTIC AMERICAN CORP (AAME)
CIK: 0000008177
Period of Report: 2008-09-16

Reporting Person: ROBINSON J MACK (Director, Chairman, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-16	Common Stock	P	16500	$1.2894	Acquired	897955	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18525	Indirect
Common Stock	300000	Indirect
Common Stock	946702	Indirect
Common Stock	3756646	Indirect
Common Stock	8675996	Indirect

Footnotes

F1: Mr. Robinson also has an indirect ownership interest in 18525 shares held in a 401(k) Plan based on the most recent plan statement.

F2: Mr. Robinson also has an indirect ownership interest in 3756646 shares owned by Gulf Capital Services, for which Mr. Robinson holds a 24% interest in the Partnership. The remaining partnerships are held in equal shares by Trust for benefit of Mr. Robinson's daughters, with Mr. Robinson's spouse as Trustee. Mr. Robinson disclaims beneficial ownership for 76% of the securities held by Gulf Capital Services, representing the Trusts' proportionate partnership interest.

F3: Mr. Robinson also has an indirect ownership interest in 8675996 shares, of which 627228 are owned directly by his spouse; 6720 shares held by spouse, jointly with grandson; 3953256 shares held directly by Trust for daughter, Robin Robinson, with spouse as Trustee; and, 4088792 shares held directly by Trust for daughter, Jill Robinson, with spouse as Trustee, all of which Mr. Robinson expressly disclaims beneficial ownership of such securities.