EASTGROUP PROPERTIES INC — Director's Dealing 2008

Mar 10, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTGROUP PROPERTIES INC (EGP)
CIK: 0000049600
Period of Report: 2008-03-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-06	Common Stock	A	12552	—	Acquired	244320	Direct
2008-03-06	Common Stock	F	971	$41.70	Disposed	243349	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	$20.375	2009-06-22	Common Stock (40186)	40186	Direct

Footnotes

F1: Award of restricted shares as 2007 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, 2009, 2010, 2011 and 2012.

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

F3: 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.

F4: All of the options are currently exercisable.