Edgar Filing: PROCTER & GAMBLE CO

Ownership Submission

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Jemison Steven W

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

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

(Last)

(First)

(Middle)

ONE PROCTER AND GAMBLE PLAZA

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 Original Filed(Month/Day/Year)

(Street)

CINCINNATI,Â OHÂ 45202

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

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	Â
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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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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 of Derivative Security: 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		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Preferred Stock	Â ⁽²⁾	Â ⁽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	Â
Stock Option (Right to Buy)	02/26/2002	02/26/2014	Common Stock	2,822	$ 44.2656	D	Â
Stock Option (Right to Buy)	09/15/2002	09/15/2014	Common Stock	6,904	$ 49.4759	D	Â
Stock Option (Right to Buy)	07/10/2003	07/10/2015	Common Stock	924	$ 27.4459	D	Â
Stock Option (Right to Buy)	09/15/2003	09/15/2015	Common Stock	13,312	$ 31.0118	D	Â
Stock Option (Right to Buy)	09/24/2004	09/24/2016	Common Stock	10,846	$ 34.5688	D	Â
Stock Option (Right to Buy)	09/13/2005	09/13/2012	Common Stock	8,962	$ 45.6625	D	Â
Stock Option (Right to Buy)	02/27/2007	02/27/2014	Common Stock	17,514	$ 51.415	D	Â
Stock Option (Right to Buy)	02/28/2008	02/28/2015	Common Stock	13,802	$ 53.595	D	Â
Stock Option (Right to Buy)	09/15/2008	09/15/2015	Common Stock	2,910	$ 55.405	D	Â
Stock Option (Right to Buy)	02/28/2009	02/28/2016	Common Stock	15,857	$ 60.5	D	Â
Stock Option (Right to Buy)	02/28/2010	02/28/2017	Common Stock	15,751	$ 63.49	D	Â
Stock Option (Right to Buy)	02/28/2011	02/28/2018	Common Stock	18,511	$ 66.18	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Jemison Steven W ONE PROCTER AND GAMBLE PLAZA CINCINNATI,Â OHÂ 45202	Â	Â	Â Chief Legal Officer	Â

Signatures

/s/ Jason P. Muncy, Attorney-In-Fact for STEVEN W. JEMISON		03/10/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(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.

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