PROCTER & GAMBLE Co — Director's Dealing 2004

Nov 15, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2004-11-11

Reporting Person: CLARK R KERRY (Director, V. COB-Glb Health Baby Family)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-11	Common Stock	M	33052.0000	$16.4354	Acquired	169078.0000	Direct
2004-11-11	Common Stock	F	8132.0000	$53.7050	Disposed	160946.0000	Direct
2004-11-11	Common Stock	M	41268.0000	$20.2962	Acquired	202214.0000	Direct
2004-11-11	Common Stock	F	9101.0000	$53.7050	Disposed	193113.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-11	Stock Option (right to buy)	$16.4354	M	33052.0000	Disposed	2005-02-28	Common Stock (33052.0000)	Direct
2004-11-11	Stock Option (right to buy)	$20.2962	M	41268.0000	Disposed	2006-03-01	Common Stock (41268.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8218.2261	Indirect
Common Stock	1394.0000	Indirect
Common Stock	1394.0000	Indirect

Footnotes

F1: Shares adjusted for 2-for-1 stock split effective May 21, 2004.

F2: By Norah J. Clark as Custodian for daughter, Alissa.

F3: By Norah J. Clark as Custodian for daughter, Heather.