-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ND8pZ5lbOdU0mqVYHqqVqRLFSx2Rbw2G/S4UAG95Dp8O0gFOwc5V86Wk2fwEvO8w
 rS+qIXO3fipVo7bT/Ue+lg==

<SEC-DOCUMENT>0001209191-03-003507.txt : 20030508
<SEC-HEADER>0001209191-03-003507.hdr.sgml : 20030508
<ACCEPTANCE-DATETIME>20030508153929
ACCESSION NUMBER:		0001209191-03-003507
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:			FISCHER HAROLD K
		CENTRAL INDEX KEY:			0001213165

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03722
		FILM NUMBER:		03688148

	MAIL ADDRESS:	
		STREET 1:		21 COUSTEAU LN.
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78746

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_3hf.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>0001213165</rptOwnerCik>            <rptOwnerName>FISCHER HAROLD K</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>6500</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><footno
te id="F2">Mr. Fischer also has direct ownership interest in 1329320 shares held jointly with spouse.  Mr. Fischer also holds options to acquire 6000 shares of common stock granted under the Company's 1996 Non-Employee Director Stock Option Plan at exercise prices ranging from $2.68 to $4.0625.</footnote></footnotes><ownerSignature><signatureName>Harold K. Fischer</signatureName><signatureDate>2003-05-06</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
