FOR IMMEDIATE RELEASE
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                       P&G DECLARES COMMON STOCK DIVIDEND
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         CINCINNATI, April 7, 2003 - The Procter & Gamble Company (NYSE:PG)
declared a quarterly dividend of forty-one cents ($ .41) per share on the Common
Stock and on the Series A ESOP Convertible Class A Preferred Stock, payable on
or after May 15, 2003 to shareholders of record at the close of business on
April 17, 2003. The company has been paying dividends without interruption since
incorporation in 1890.

         P&G is celebrating 165 years of providing trusted quality brands that
make every day better for the world's consumers. We market nearly 300 brands -
including Pampers(R), Tide(R), Ariel(R), Always(R), Whisper(R), Pantene(R),
Bounty(R), Pringles(R), Folgers(R), Charmin(R), Downy(R), Lenor(R), Iams(R),
Crest(R), Actonel(R), Olay(R) and Clairol Nice `n Easy(R) - in more than 160
countries around the world. The P&G community consists of nearly 102,000
employees working in almost 80 countries worldwide. Please visit WWW.PG.COM for
the latest news and in-depth information about P&G and its brands.

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P&G CONTACTS:
Corporate Media Center
1-866-PROCTER (1-866-776-2837)

John Goodwin - Investor Relations
513-983-2414