SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Jemison Steven W

(Last)

(First)

(Middle)

ONE PROCTER AND GAMBLE PLAZA

(Street)

CINCINNATI

45202

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/01/2008

3. Issuer Name and Ticker or Trading Symbol
PROCTER & GAMBLE CO [ PG ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Legal Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	8,952.593	D
Common Stock	22,299.7051	I	By Retirement Plan Trustees
Common Stock	200.724	I	By SW Jemison and PL McCallum Revocable Trust⁽¹⁾
Common Stock	13.841	I	By daughter Steffani
Common Stock	1	I	By son Philip

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Preferred Stock	⁽²⁾	⁽²⁾	Common Stock	10,249.1459	⁽³⁾	I	By Retirement Plan Trustees
Stock Option (Right to Buy)	07/09/1999	07/09/2008	Common Stock	352	$45.2129	D
Stock Option (Right to Buy)	02/26/2002	02/26/2014	Common Stock	2,822	$44.2656	D
Stock Option (Right to Buy)	09/15/2002	09/15/2014	Common Stock	6,904	$49.4759	D
Stock Option (Right to Buy)	07/10/2003	07/10/2015	Common Stock	924	$27.4459	D
Stock Option (Right to Buy)	09/15/2003	09/15/2015	Common Stock	13,312	$31.0118	D
Stock Option (Right to Buy)	09/24/2004	09/24/2016	Common Stock	10,846	$34.5688	D
Stock Option (Right to Buy)	09/13/2005	09/13/2012	Common Stock	8,962	$45.6625	D
Stock Option (Right to Buy)	02/27/2007	02/27/2014	Common Stock	17,514	$51.415	D
Stock Option (Right to Buy)	02/28/2008	02/28/2015	Common Stock	13,802	$53.595	D
Stock Option (Right to Buy)	09/15/2008	09/15/2015	Common Stock	2,910	$55.405	D
Stock Option (Right to Buy)	02/28/2009	02/28/2016	Common Stock	15,857	$60.5	D
Stock Option (Right to Buy)	02/28/2010	02/28/2017	Common Stock	15,751	$63.49	D
Stock Option (Right to Buy)	02/28/2011	02/28/2018	Common Stock	18,511	$66.18	D

Explanation of Responses:

1. By Steven W. Jemison and Phyllis L. McCallum, husband and wife, Revocable Trust U/A dated December 28, 2006.

2. 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.

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

	/s/ Jason P. Muncy, Attorney-In-Fact for STEVEN W. JEMISON	03/10/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.