EASTGROUP PROPERTIES INC — Director's Dealing 2006

Mar 22, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2006-03-22

Reporting Person: HOSTER DAVID H II (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-22	Common Stock	M	1100	$17.92	Acquired	216339	Direct
2006-03-22	Common Stock	S	1100	$47.00	Disposed	215239	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-22	Stock Options	$17.92	M	1100	Disposed	2007-02-02	Common Stock (1100)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2430	Indirect
Common Stock	2250	Indirect
Common Stock	750	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$14.58	2007-06-18	Common Stock (999)	999	Direct
Stock Options	$22.00	2007-10-08	Common Stock (54000)	54000	Direct
Stock Options	$20.375	2009-06-22	Common Stock (40186)	40186	Direct

Footnotes

F1: Includes 38,948 restricted shares granted under the Company's 2004 Equity Incentive Plan and 33,600 restricted shares granted under the Company's 1994 Management Incentive Plan, as amended, that have not yet vested.

F2: 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.