EASTGROUP PROPERTIES INC — Director's Dealing 2007

Feb 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2007-02-20

Reporting Person: COLEMAN JOHN F (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-20	Common Stock	M	2000	$23.05	Acquired	47179	Direct
2007-02-20	Common Stock	S	500	$56.33	Disposed	46679	Direct
2007-02-20	Common Stock	S	1100	$56.34	Disposed	45579	Direct
2007-02-20	Common Stock	S	100	$56.37	Disposed	45479	Direct
2007-02-20	Common Stock	S	100	$56.38	Disposed	45379	Direct
2007-02-20	Common Stock	S	200	$56.40	Disposed	45179	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-20	Stock Options	$23.05	M	2000	Disposed	2011-08-29	Common Stock (2000)	Direct

Footnotes

F1: As of the date hereof, the Reporting Person's direct beneficial ownership includes 9,443 restricted shares granted under the Company's 2004 Equity Incentive Plan and 9,000 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.