LAMAR ADVERTISING CO/NEW — Director's Dealing 2008

Jul 24, 2008

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2008-07-10

Reporting Person: MCDERMOTT EDWARD H (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100	Direct

Footnotes

F1: This form is being filed to add Edward H. McDermott ("EHM") as a Reporting Person, for purposes of Section 16 of the Securities Exchange Act of 1934, as he may be deemed to be part of a "group", as such term is defined in Rule 13d-5(b)(1) promulgated under the Securities Exchange Act of 1934, for purposes of this filing. On 7/10/08, 100 shares of the issuer's common stock were purchased by Edward H. McDermott ("EHM"). As of the date of this filing, EHM owns 800 shares of the issuer's common stock in his IRA, which is self-directed.

F2: Additionally, as of the date of this filing, 17,902,984 shares of the issuer's common stock are owned directly by SPO Partners II, L.P. ("SPO Partners"), and may be deemed to be indirectly beneficially owned by (i) SPO Advisory Partners, L.P ("SPO Advisory"), the sole general partner of SPO Partners, (ii) SPO Advisory Corp. ("SPO Corp."), the sole general partner of SPO Advisory, and (iii) John H. Scully ("JHS"), WEO, and William J. Patterson ("WJP"), the three controlling persons of SPO Corp. Additionally, 735,730 shares of the issuer's common stock are owned directly by SF Partners, and may be deemed to be indirectly beneficially owned by (i) SF Advisory Partners, L.P. ("SF Advisory"), the sole general partner of SF Partners, (ii) SPO Corp., the sole general partner of SF Advisory, and (iii) JHS, WEO & WJP, the three controlling persons of SPO Corp.

F3: Additionally, as of the date of this filing, Phoebe Snow Foundation ("PSF") owns 284,600 shares, the Elizabeth R. and William J. Patterson Foundation ("WJPFND") owns 51,200 shares, WEO owns 84,600 shares in his IRA, which is self-directed, JHS owns 18,700 shares in his IRAs, which are self directed, WJP owns 1,700 shares in his IRA, which is self-directed, Ian R. McGuire ("IRM") owns 1,156 shares, 256 of which are in his IRA, which is self-directed and Eli J. Weinberg ("EJW") owns 126 shares in his personal account.