EASTGROUP PROPERTIES INC — Director's Dealing 2007

Mar 12, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2007-03-08

Reporting Person: MCKEY N KEITH (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-08	Common Stock	A	6515	—	Acquired	95363	Direct
2007-03-08	Common Stock	F	377	$52.46	Disposed	94986	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6018	Indirect

Footnotes

F1: Award of restricted shares as 2006 annual long-term incentive compensation pursuant to the Company's 2004 Equity Incentive Plan, as amended. These restricted shares vest one-fifth on the date of grant and one-fifth on each of January 1, 2008, 2009, 2010 and 2011.

F2: The Reporting Person elected to have the Company withhold these shares to satisfy the Company's tax withholding obligation as permitted under the Company's 2004 Equity Incentive Plan, as amended

F3: In addition to the award of restricted shares reported herein, the Reporting Person's direct beneficial ownership also includes 18,000 restricted shares granted under the Company's 1994 Management Incentive Plan, as amended, and an additional 14,475 restricted shares granted under the Company's 2004 Equity Incentive Plan, as amended, that have not yet vested.

F4: Includes an additional 54 shares acquired under the Company's Dividend Reinvestment Plan.