EASTGROUP PROPERTIES INC — Director's Dealing 2004

Dec 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2004-12-01

Reporting Person: COLEMAN JOHN F (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-01	Common Stock	M	3000	$23.05	Acquired	26139	Direct
2004-12-01	Common Stock	S	600	$38.14	Disposed	25539	Direct
2004-12-01	Common Stock	S	1000	$38.00	Disposed	24539	Direct
2004-12-01	Common Stock	S	1400	$37.90	Disposed	23139	Direct
2004-12-02	Common Stock	M	2000	$23.05	Acquired	25139	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-01	Stock Options	$23.05	M	5000	Disposed	2011-08-29	Common Stock (5000)	Direct

Footnotes

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

F2: Becomes exercisable with respect to one-half the shares on the first anniversary of the date of grant and one-half on the second anniversary of the date of grant.

F3: The Reporting Person exercised options for 3,000 shares on December 1, 2004 and options for an additional 2,000 shares on December 2, 2004.