Donald H. Galloway, 82, a retired Army colonel whose service spanned both world wars and the Korean conflict and who later was president of an insurance company in Washington, died at his home in Lake Wales, Fla., Friday following a heart attack.

Col. Galloway was born in New York City and served in the New York National Guard during World War I. He then attended the U.S. Military Academy at West Point, graduating in 1923. His assignements in the years between the wars included various cavalry posts in the United States and a tour at West Point as an instructor of economics, government and history.

In World War II, he was an intelligence officer with the 6th Army Corps in North Africa and Italy and later deputy chief of staff of the corps. After the war, he was assigned to Washington and helped organize the Central Intelligence Agency, which was founded in 1947. He was assistant director of the organization until 1949.

Col. Galloway's next assignment was Japan, where he held a number of staff posts. During the Korean conflict, he was a member of the team that negotiated an armistice with the North Koreans and Chinese at Panmunjom that ened the fighting in 1954.

He was the commanding officer of Fort Myer, Va., when he retired from the Army in 1954.

Col. Galloway then was named president of the Rampart Life Insurance Co., a post he held until his second retirement about 1971. He maintained homes in the Washington area and in Lake Wales until 1975, when he moved entirely to Florida.

His first wife, the former Frederica Mertens, died in 1957.

Survivors include his wife, the former Dorothy Close Towers of Lake Wales; two sons, Frederick an Army colonel currently stationed in Mons, Belgium, and Edward, of Baltimore; two daughters, Anne Berger of Norfolk, Va., and Mary Galloway of San Diego, Calif.; one sister, Grace Holden of White Plains, N.Y., and nine grandchildren.