LAMAR ADVERTISING CO/NEW — Director's Dealing 2011

May 27, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2011-05-26

Reporting Person: Reilly Wendell (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-26	Class A Common Stock	A	1034	—	Acquired	129919	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	86809	Indirect

Footnotes

F1: The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. Half of the award was fully vested on the date of grant and the other half vests on the last day of the Reporting Person's one-year term as director of the Issuer.

F2: Shares held by the Wendell Reilly Family Irrevocable Trust (the "Trust"), of which the Reporting Person is the trustee and of which the Reporting Person's three children are beneficiaries.