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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed  pursuant to Section  16(a) of the  Securities  Exchange  Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[  ] Check this box if no longer subject of Section 16. Form 4 or Form 5
     obligations may continue. See Instruction 1(b).

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1. Name and Address of Reporting Person*

   Robinson                          Harriett             J.
- --------------------------------------------------------------------------------
   (Last)                           (First)             (Middle)

   3500 Tuxedo Road, NW
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                                    (Street)

   Atlanta                           GA                   30305-1068
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   (City)                           (State)              (Zip)


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2. Issuer Name and Ticker or Trading Symbol

   Atlantic American Corporation - AAME

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3. IRS or Social Security Number of Reporting Person (Voluntary)


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4. Statement for Month/Year

   July 2002
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5. If Amendment, Date of Original (Month/Year)


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6. Relationship of Reporting Person to Issuer
   (Check all applicable)

   [ X ]   Director                             [ X ]   10% Owner
   [   ]   Officer (give title below)           [ X ]   Other (specify below)

                                                  Trustee under Rule 16a-8


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7. Individual or Joint/Group Filing (Check applicable line)

   [ X ] Form filed by one Reporting Person
   [   ] Form filed by more than one Reporting Person


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           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
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6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code ------------------------------- Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) of Month Indirect Beneficial Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 8,929 I 401(k) Plan by Spouse (1***) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock N/A 6,720 I Joint w/ Grandson - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock N/A 1,968,896 I 2*** - ----------------------------------------------------------------------------------------------------------------------------------- Common Stock N/A 3,411,102 I By Gulf Capital Svcs.(3***) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock N/A 3,953,256 I 4*** - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock N/A 4,024,992 I 5*** - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 07/01/02 P 3,500 A $2.20 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 07/05/02 P 13,000 A $2.3307 410,985 D - ------------------------------------------------------------------------------------------------------------------------------------
* If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Page 1 of 2 FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
9. 10. Number Owner- of ship 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature of Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock N/A Common 100,000 I By Spouse(6) Options Stock - ------------------------------------------------------------------------------------------------------------------------------------ Option to Buy N/A Common 10,000 D(7) Stock - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: *** Beneficial ownership of securities marked by *** expressly disclaimed. (1) Information herein based on plan statement as of December 31, 2001. (2) Includes 738,194 shared held directly by spouse; 936,702 shares held by Delta Life Ins. Co.; and 294,000 shares held by Delta Fire & Casualty Ins. Co. (3) Spouse individually holds a 24% interest in partnership. The remaining partnerships are held in equal shares by Trust for benefit of the reporting person's daughters, with the reporting person as Trustee. (4) By self as Trustee for Robin Robinson, securities directly held by Trust. (5) By self as Trustee for Jill Robinson, securities directly held by Trust. (6) Option to buy Common stock, granted at an option price of $3.374 per share under the Atlantic American Corporation 1992 Incentive Plan. (7) Granted pursuant to the Company's 1996 Director Stock Option Plan at option prices ranging from $1.90 to $4.4375. /s/ 08/02/02 - --------------------------------------------- ---------------------- **Signature of Reporting Person Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedures. Alternatively, this Form is permitted to be submitted to the Commission in electronic format at the option of the reporting person pursuant to rule 101(b)(4) of Regulation S-T. Page 2 of 2 (122797DTI)