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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000080424-97-000027.txt : 19970520
<SEC-HEADER>0000080424-97-000027.hdr.sgml : 19970520
ACCESSION NUMBER:		0000080424-97-000027
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19970515
ITEM INFORMATION:		
FILED AS OF DATE:		19970515
SROS:			CSE
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PROCTER & GAMBLE CO
		CENTRAL INDEX KEY:			0000080424
		STANDARD INDUSTRIAL CLASSIFICATION:	SOAP, DETERGENT, CLEANING PREPARATIONS, PERFUMES, COSMETICS [2840]
		IRS NUMBER:				310411980
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00434
		FILM NUMBER:		97607828

	BUSINESS ADDRESS:	
		STREET 1:		ONE PROCTER & GAMBLE PLZ
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5139831100
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<TEXT>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)              May 15, 1997


                          THE PROCTER & GAMBLE COMPANY
- ---------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


   Ohio                          1-434                         31-0411980
- ---------------------------------------------------------------------------
(State or other            (Commission File Number)           (IRS Employer
jurisdiction of                                               Identification
incorporation)                                                Number)


One Procter & Gamble Plaza, Cincinnati, Ohio                  45202
- ---------------------------------------------------------------------------
(Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code   (513) 983-1100
                                                     -----------------






<PAGE>



ITEM 9.  SALES OF EQUITY SECURITIES PURSUANT TO REGULATIONS

         On May 6, 1997 and May 12, 1997 The Procter & Gamble Company (the 
"Company") sold 5,641 shares of the Company's common stock to employees of
subsidiaries of the Company for approximately $741,096 in reliance on 
Regulation S.

          No underwriter or placement agent was used.




                                    SIGNATURE


          Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be singed on its behalf by
the undersigned hereunto duly authorized.


                                   THE PROCTER & GAMBLE COMPANY


                                   /s/LINDA D. ROHRER
                                   ------------------------------------
                                   Linda D. Rohrer, Assistant Secretary
                                   May 15, 1997




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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