FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * MARTIN MARIANO   2. Issuer Name and Ticker or Trading Symbol PROCTER & GAMBLE CO [PG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Global Cust. Bus. Dev. Officer (Last) (First) (Middle) ONE PROCTER AND GAMBLE PLAZA 3. Date of Earliest Transaction (Month/Day/Year) 01/31/2006 (Street) CINCINNATI, OH 45202 4. If Amendment, Date 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 (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/31/2006   M   11,910 A $ 20.2962 34,307.04 D   Common Stock 01/31/2006   F   2,829 D $ 59.12 31,478.04 D   Common Stock 01/31/2006   M   6,336 A $ 21.9407 37,814.04 D   Common Stock 01/31/2006   F   1,470 D $ 59.12 36,344.04 D   Common Stock 01/31/2006   M   8,270 A $ 29.8768 44,614.04 D   Common Stock 01/31/2006   F   1,507 D $ 59.12 43,107.04 D   Common Stock 01/31/2006   M   3,748 A $ 37.4778 46,855.04 D   Common Stock 01/31/2006   F   544 D $ 59.12 46,311.04 D   Common Stock 01/31/2006   M   9,600 A $ 37.4778 55,911.04 D   Common Stock 01/31/2006   F   1,303 D $ 59.12 54,608.04 D   Common Stock 01/31/2006   M   23,702 A $ 37.4778 78,310.04 D   Common Stock 01/31/2006   F   3,133 D $ 59.12 75,177.04 D   Common Stock               68 I by daughter Leticia (1) Common Stock               68 I by daughter Sandra (2) Common Stock               3,119.82 (3) I By Retirement Plan Trustees Common Stock               68 I by son Ignacio (4) Common Stock               68 I by son Jaime (5) Common Stock               68 I by son Javier (6) Common Stock               2,000 I by Trust (7)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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 control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Series A Preferred Stock

(8)

12/31/2005(9)

A

V

0.47

(10)

(10)

Common Stock

0.47

(11)

711.09

I

By Retirement Plan Trustees

Stock Option (right to buy)

$ 20.2962

01/31/2006

M

11,910

02/28/1997

03/01/2006

Common Stock

11,910

$ 20.2962

0

D

Stock Option (right to buy)

$ 21.9407

01/31/2006

M

6,336

07/09/1997

07/10/2006

Common Stock

6,336

$ 21.9407

0

D

Stock Option (right to buy)

$ 29.8768

01/31/2006

M

8,270

02/28/1998

02/28/2007

Common Stock

8,270

$ 29.8768

0

D

Stock Option (right to buy)

$ 37.4778

01/31/2006

M

3,748

07/09/1998

07/09/2007

Common Stock

3,748

$ 37.4778

0

D

Stock Option (right to buy)

$ 37.4778

01/31/2006

M

9,600

07/18/1998

07/09/2007

Common Stock

9,600

$ 37.4778

0

D

Stock Option (right to buy)

$ 37.4778

01/31/2006

M

23,702

07/18/1998

07/18/2007

Common Stock

23,702

$ 37.4778

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MARTIN MARIANO ONE PROCTER AND GAMBLE PLAZA CINCINNATI, OH 45202			Global Cust. Bus. Dev. Officer

Signatures

ADAM NEWTON as Attorney-In-Fact for Mariano Martin		02/02/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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)	Mariano Martin and Leticia Martin Chocano joint tenants wth right of survivorship.
(2)	Mariano Martin custodian for Sandra Martin Chocano under the Uniform Gift to Minors Act (UGMA).
(3)	Balance as of 12/31/2005.
(4)	Mariano Martin custodian for Ignacio Martin Chocano (UGMA).
(5)	Mariano Martin custodian for Jaime Martin Chocano (UGMA).
(6)	Mariano Martin custodian for Javier Martin Chocano (UGMA).
(7)	The Mariano Martin Revocable Living Trust.
(8)	Higher of $6.82 (adjusted for 2-for-1 stock split effective May 21, 2004) or market price of Common Stock.
(9)	Series A Preferred Stock allocated to officer's Retirement Plan Account pursuant to formula award provision for the period 10/1/0 5 through 12/31/05.
(10)	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.
(11)	Series A Preferred Stock allocated to officer's Retirement Plan account pursuant to Retirement Plan provisions.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.