EASTGROUP PROPERTIES INC — Director's Dealing 2008

Aug 7, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2008-08-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-05	Common Stock	M	3500	$20.375	Acquired	246849	Direct
2008-08-05	Common Stock	S	3500	$47.98	Disposed	243349	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-08-05	Stock Options	$20.375	M	3500	Disposed	2009-06-22	Common Stock (3500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2430	Indirect
Common Stock	750	Indirect

Footnotes

F1: As of the date hereof, the Reporting Person's direct beneficial ownership includes 16,800 restricted shares granted under the Company's 1994 Management Incentive Plan, as amended, and 26,454 restricted shares granted under the Company's 2004 Equity Incentive Plan, as amended, that have not yet vested.

F2: All of the options are currently exercisable.