EASTGROUP PROPERTIES INC — Director's Dealing 2004

Dec 9, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2004-12-07

Reporting Person: PETSAS WILLIAM D (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-07	Common Stock	M	3000	$20.688	Acquired	32940	Direct
2004-12-07	Common Stock	S	400	$37.51	Disposed	32540	Direct
2004-12-07	Common Stock	S	2600	$37.50	Disposed	29940	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-07	Stock Options	$20.688	M	3000	Disposed	2010-04-16	Common Stock (3000)	Direct

Footnotes

F1: Includes 17,940 shares granted as incentive restricted shares under the Company's 1994 Management Incentive Plan, as amended.

F2: Exercisable 1/2 on the first anniversary of the date of grant and 1/2 on the second anniversary of the date of grant.