PROCTER & GAMBLE Co — Director's Dealing 2007

May 24, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2007-05-22

Reporting Person: LAFLEY ALAN G (Director, COB, Pres. and Chief Executive)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-22	Common Stock	M	17768.0000	$37.4778	Acquired	974184.4490	Direct
2007-05-22	Common Stock	F	10561.0000	$63.0550	Disposed	963623.4490	Direct
2007-05-22	Common Stock	F	3166.0000	$63.0550	Disposed	960457.4490	Direct
2007-05-22	Common Stock	M	110744.0000	$41.9732	Acquired	1071201.4490	Direct
2007-05-22	Common Stock	F	14722.0000	$63.0550	Disposed	1056479.4490	Direct
2007-05-22	Common Stock	M	14172.0000	$45.2129	Acquired	1070651.4490	Direct
2007-05-22	Common Stock	F	10162.0000	$63.0550	Disposed	1060489.4490	Direct
2007-05-22	Common Stock	F	1762.0000	$63.0550	Disposed	1058727.4490	Direct
2007-05-22	Common Stock	M	2570.0000	$34.3767	Acquired	1061297.4490	Direct
2007-05-22	Common Stock	F	1402.0000	$63.0550	Disposed	1059895.4490	Direct
2007-05-22	Common Stock	F	514.0000	$63.0550	Disposed	1059381.4490	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-22	Stock Option (right to buy)	$37.4778	M	17768.0000	Disposed	2007-07-09	Common Stock (17768.0000)	Direct
2007-05-22	Stock Option (right to buy)	$41.9732	M	110744.0000	Disposed	2008-02-27	Common Stock (110744.0000)	Direct
2007-05-22	Stock Option (right to buy)	$45.2129	M	14172.0000	Disposed	2008-07-09	Common Stock (14172.0000)	Direct
2007-05-22	Stock Option (right to buy)	$34.3767	M	2570.0000	Disposed	2008-09-15	Common Stock (2570.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	45251.6945	Indirect
Common Stock	715.0960	Indirect
Common Stock	6158.0000	Indirect

Footnotes

F1: By A.G. Lafley Irrevocable Trust II U/A dated March 8, 1999, Margaret G. Lafley, trustee, for benefit of reporting person's wife
and children.