PROCTER & GAMBLE Co — Director's Dealing 2007

Feb 12, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2007-02-09

Reporting Person: CLOYD G GILBERT (Chief Technology Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-09	Common Stock	M	39642.0000	$29.8768	Acquired	248439.7890	Direct
2007-02-09	Common Stock	F	8020.0000	$64.5150	Disposed	240419.7890	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-09-30	Series A Preferred Stock	$0	A	321.2984	Acquired		Common Stock (321.2984)	Indirect
2006-12-31	Series A Preferred Stock	$0	A	6.7734	Acquired		Common Stock (6.7734)	Indirect
2007-02-09	Stock Option (right to buy)	$29.8768	M	39642.0000	Disposed	2007-02-28	Common Stock (39642.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	66316.8022	Indirect
Common Stock	1695.0000	Indirect

Footnotes

F1: Balance as of 12/31/2006.

F2: Higher of $6.82 (adjusted for 2-for-1 stock split effective May 21, 2004) or market price of Common Stock.

F3: 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.

F4: 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.

F5: Series A Preferred Stock allocated to officer's Retirement Plan account pursuant to Retirement Plan provisions.

F6: 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.