PROCTER & GAMBLE Co — Director's Dealing 2007

Mar 1, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2007-02-28

Reporting Person: OTTO CHARLOTTE R (Global External Relations Ofcr)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-09-30	Series A Preferred Stock	$0	A	319.9147	Acquired		Common Stock (319.9147)	Indirect
2006-12-31	Series A Preferred Stock	$0	A	4.8543	Acquired		Common Stock (4.8543)	Indirect
2007-02-28	Stock Option (right to buy)	$63.490	A	58277.0000	Acquired	2017-02-28	Common Stock (58277.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	55030.0400	Direct
Common Stock	40186.3973	Indirect

Footnotes

F1: Total includes grant of dividend equivalents in the form of RSUs on 11/15/2006 and 2/15/07, pursuant to Issuer's 2001 Stock and I
ncentive Compensation Plan.

F2: Holdings as of 12/31/2006.

F3: Higher of $6.82 (adjusted for 2-for-1 stock split effective May 21, 2004) or market price of Common Stock.

F4: Series A Preferred Stock allocated to officer's Retirement Plan Account pursuant to formula award provision for the period 7/1/06
through 9/30/06.

F5: Shares held by Retirement Plan Trustees. If officer terminates employment and elects distribution of shares, or, if after age 50 elects alternative investment within Plan, Preferred Stock converted/redeemed at specified conversion/exercise price.

F6: Series A Preferred Stock allocated to officer's Retirement Plan account pursuant to Retirement Plan provisions.

F7: Series A Preferred Stock allocated to officer's Retirement Plan Account pursuant to formula award provision for the period 10/1/0
6 through 12/31/06.

F8: Employee stock option granted under Issuer's 2001 Stock and Incentive Compensation Plan.