COLUMBUS, Ga., Mar 1, 2004 /PRNewswire-FirstCall via COMTEX/ -- Kriss Cloninger III, President and Chief Financial Officer of AFLAC Incorporated has been named the Best CFO in the insurance/life category in America by Institutional Investor magazine.

Cloninger joined AFLAC in March 1992 as senior vice president and chief financial officer. He was promoted to executive vice president in 1993 and to president in May 2001, retaining the title of CFO. Since joining AFLAC, he has had primary responsibility for overseeing the financial management of all company operations, including AFLAC U.S., AFLAC Japan, and Communicorp. He is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries. He holds bachelor's and master's degrees in business administration from the University of Texas at Austin.

In addition to planning and overseeing the financial performance of AFLAC's operating units, he also initiated various programs at the corporate level to optimize shareholder value. Those programs include AFLAC's share repurchase program, the yen-debt-financing program, the capital hedging strategy, and the profit repatriation strategy.

Cloninger began working with AFLAC in October 1977 while he was a consulting actuary with KPMG LLP in Atlanta. At that time, he worked extensively with members of AFLAC's financial and executive management group.

More than 1,300 professionals at more than 400 firms responded to the survey, Institutional Investor's first of U.S. chief financial officers. The fund managers who voted represented some $4.2 trillion in equity holdings. There are 62 industry sectors, with the CFOs listed by sector and industry. They scored the highest when Institutional Investor asked portfolio managers and sell-side equity analysts to choose the three top-performing CFOs in their domain.

AFLAC Incorporated (NYSE: AFL) is an international holding company. A Fortune 500 company, AFLAC insures more than 40 million people worldwide. It is a leading writer of insurance products marketed at the worksite in the United States, offering policies to employees at more than 288,100 payroll accounts. The company insures one out of four Japanese households and is the largest life insurer in Japan in terms of individual policies in force. In March 2004, Fortune magazine included AFLAC in its annual listing of "America's Most Admired Companies." In July 2003, Fortune named AFLAC to its list of "America's 50 Best Companies for Minorities." In January 2004, AFLAC was included in Fortune magazine's list of "The 100 Best Companies to Work for" for the sixth consecutive year. Also in January 2004, AFLAC was named to Forbes magazine's "Platinum 400 List of Best Big Companies in America" for the fifth consecutive year. AFLAC's Internet address is aflac.com .

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SOURCE AFLAC Incorporated

Media, Patsy J. Thomas, +1-706-317-6109, fax, +1-706-320-2288,
or pthomas3@aflac.com, or Analysts, Ken Janke Jr., Senior Vice President
Investor Relations, +1-800-235-2667 Option 3, or kjanke@aflac.com, both of
AFLAC Incorporated

http://www.aflac.com