Shareholder Return Performance Graphs

The following graph compares the five-year cumulative total return of P&G’s common stock as compared with the S&P 500 Stock Index, the Dow Jones Industrial Average Index, and a composite group comprised of the S&P Household Products Index, the S&P Paper Products Index, the S&P Personal Products Index, the S&P Health Care Index and the S&P Food Index. The composite group is weighted based on P&G’s current fiscal year revenues. The graph assumes $100 was invested on June 30, 2003 and that all dividends were reinvested.

(in dollars)	2003	2004	2005	2006	2007	2008
P&G	100	124	123	132	149	151
Composite Group	100	128	127	143	175	164
S&P 500	100	119	127	138	166	144
DJIA	100	119	119	133	163	142

P&G has paid dividends without interruption since its incorporation along with the increased dividends each year for the past 52 fiscal years. P&G’s compound annual dividend growth rate has exceeded 9% over the last 52 years.

(in dollars; split-adjusted)	1956	1969	1982	1995	2008
Dividends per Share	$0.01	$0.04	$0.13	$0.35	$1.45