PROCTER & GAMBLE Co — Director's Dealing 2004

May 6, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2004-05-05

Reporting Person: HARRISON R KEITH (Global Product Supply Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-05	Common Stock	M	16794.0000	$40.5924	Acquired	23295.0000	Direct
2004-05-05	Common Stock	F	3689.0000	$106.7000	Disposed	19606.0000	Direct
2004-05-05	Common Stock	M	7020.0000	$43.8813	Acquired	26626.0000	Direct
2004-05-05	Common Stock	F	1466.0000	$106.7000	Disposed	25160.0000	Direct
2004-05-05	Common Stock	S	3050.0000	$106.85	Disposed	22110.0000	Direct
2004-05-05	Common Stock	S	3000.0000	$106.82	Disposed	19110.0000	Direct
2004-05-05	Common Stock	S	2000.0000	$106.75	Disposed	17110.0000	Direct
2004-05-05	Common Stock	S	1000.0000	$106.71	Disposed	16110.0000	Direct
2004-05-05	Common Stock	S	3000.0000	$106.60	Disposed	13110.0000	Direct
2004-05-05	Common Stock	S	800.0000	$106.62	Disposed	12310.0000	Direct
2004-05-05	Common Stock	S	1900.0000	$106.63	Disposed	10410.0000	Direct
2004-05-05	Common Stock	S	700.0000	$106.61	Disposed	9710.0000	Direct
2004-05-05	Common Stock	S	3200.0000	$106.59	Disposed	6510.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-05	Stock Option (right to buy)	$40.5924	M	16794.0000	Disposed	2006-03-01	Common Stock (16794.0000)	Direct
2004-05-05	Stock Option (right to buy)	$43.8813	M	7020.0000	Disposed	2006-07-10	Common Stock (7020.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	27807.1278	Indirect