PROCTER & GAMBLE Co — Director's Dealing 2003

Nov 21, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2003-11-19

Reporting Person: STOREY ROBERT D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-19	Common Stock	M	2015.0000	$62.0236	Acquired	6968.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-19	Stock Option (right to buy)	$62.50	M	2015.0000	Disposed	2015-09-15	Common Stock (2015.0000)	Direct

Footnotes

F1: Due to the spin-off of a portion of Issuer's business, reporting person's stock option was adjusted, pursuant to the anti-dilution provisions of Issuer's stock option plan, in order to preserve the pre-spin-off value of the option.