PROCTER & GAMBLE Co — Director's Dealing 2005

May 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2005-05-16

Reporting Person: ANTOINE RICHARD L (Global Human Resources Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-16	Common Stock	M	13302.00	$21.9407	Acquired	87831.00	Direct
2005-05-16	Common Stock	M	7748.00	$20.2962	Acquired	95579.00	Direct
2005-05-17	Common Stock	S	21050.00	$55.04	Disposed	74529.00	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-16	Stock Option (right to buy)	$20.2962	M	7748.00	Disposed	2006-03-01	Common Stock (7748.00)	Direct
2005-05-16	Stock Option (right to buy)	$21.9407	M	13302.00	Disposed	2006-07-10	Common Stock (13302.00)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	72723.53	Indirect
Common Stock	2100.00	Indirect

Footnotes

F1: By daughter, Shannon, as beneficiary of Trust.