LAMAR ADVERTISING CO/NEW — Director's Dealing 2009

Dec 24, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2009-12-21

Reporting Person: PHOEBE SNOW FOUNDATION (See Footnote 1)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-21	Common Stock	S	20000	$31.11	Disposed	264600	Direct
2009-12-22	Common Stock	S	15000	$31.45	Disposed	249600	Direct

Footnotes

F1: The entity making these transactions is Phoebe Snow Foundation (the "Reporting Person"). The Reporting Person 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, which is a 10% owner.

F2: The Reporting Person directly sold 20,000 shares on 12/21/09, as reported in Line 1 above, ranging in price from $31.06 - 31.33 (full detailed information regarding the shares sold at each price will be provided upon request). Additionally, the Reporting Person directly sold 15,000 shares, as reported in Line 2 above, at $31.45. Following the transactions causing this filing, the Reporting Person owns 249,600 shares of the issuer's common stock.