LAMAR ADVERTISING CO/NEW — Director's Dealing 2009

May 29, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2009-05-28

Reporting Person: ISTRE KEITH A (Chief Financial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-05-28	Stock Option (right to buy)	$18.25	A	109063	Acquired	2019-05-28	Class A Common Stock (109063)	Direct

Footnotes

F1: 20% vested immediately upon grant, and an additional 20% vests on each of the next four anniversaries of the grant date.