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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 J43gouYJKNxl6hTCbumAKEyCJXwyejNHgEwXLgi3P7CwUy7iIKbW/bbVjHECc2MY
 dMv0Am87kSyhkC0berVh0w==

<SEC-DOCUMENT>0001209191-03-003515.txt : 20030508
<SEC-HEADER>0001209191-03-003515.hdr.sgml : 20030508
<ACCEPTANCE-DATETIME>20030508154224
ACCESSION NUMBER:		0001209191-03-003515
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030506
FILED AS OF DATE:		20030508

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WHALEY WILLIAM H
		CENTRAL INDEX KEY:			0001199305

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03722
		FILM NUMBER:		03688164

	BUSINESS ADDRESS:	
		STREET 1:		3980 RANDALL MILL RD NW
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30327

	MAIL ADDRESS:	
		STREET 1:		3980 RANDALL MILL RD NW
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30327

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATLANTIC AMERICAN CORP
		CENTRAL INDEX KEY:			0000008177
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				581027114
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4370 PEACHTREE RD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
		BUSINESS PHONE:		4042665500

	MAIL ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>g82656_3ww.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>    <schemaVersion>X0101</schemaVersion><documentType>4</documentType><periodOfReport>2003-05-06</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000008177</issuerCik>        <issuerName>ATLANTIC AMERICAN CORP</issuerName><issuerTradingSymbol>AAME</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001199305</rptOwnerCik>            <rptOwnerName>WHALEY WILLIAM H</rptOwnerName>        </reportingOwnerId>        <reportingOwnerAddress>            <rptOwnerStreet1>  </rptOwnerStreet1>            <rptOwnerStreet2>  </rptOwnerStreet2>            <rptOwnerCity>  </rptOwnerCity>            <rptOwnerState>  </rptOwnerState>            <rptOwnerZipCode>  </rptOwnerZipCode>        </reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeSecurity><securityT
itle><value>Common Stock</value></securityTitle><transactionDate><value>2003-05-06</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>3773</value></transactionShares><transactionValue><value>0</value><footnoteId id="F1" /></transactionValue><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>19500</value><footnoteId id="F2" /></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeSecurity><footnotes><footnote id="F1">Represents 3,773 shares of restricted stock that were awarded pursuant to the Company's 2002 Incentive Plan.  No consideration is required to be paid by recipient.</footnote><footn
ote id="F2">Dr. Whaley also has an indirect ownership interest in 6000 shares owned by his spouse as custodian for their daughter, for which Dr. Whaley expressly disclaims beneficial ownership of such securities. Dr. Whaley also holds options to acquire 5000 shares of common stock granted under the Company's 1996 Non-Employee Director Stock Option Plan at exercise prices ranging from $1.90 to $4.4375.</footnote></footnotes><ownerSignature><signatureName>WILLIAM H WHALEY</signatureName><signatureDate>2003-05-06</signatureDate></ownerSignature></ownershipDocument>

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</SEC-DOCUMENT>
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