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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-08	Common Stock	A	13030	—	Acquired	229268	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2430	Indirect
Common Stock	750	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$22.00	2007-10-08	Common Stock (14500)	14500	Direct
Stock Options	$20.375	2009-06-22	Common Stock (40186)	40186	Direct

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: In addition to the award of restricted shares reported herein, the Reporting Person's direct beneficial ownership also includes 25,200 restricted shares granted under the Company's 1994 Management Incentive Plan, as amended, and an additional 20,452 restricted shares granted under the Company's 2004 Equity Incentive Plan, as amended, that have not yet vested.

F3: The Reporting Person no longer has a reportable beneficial interest in 2,250 shares of common stock owned by his children and included in the Reporting Person's prior ownership reports.

F4: All of the options are currently exercisable.