Lumen Technologies, Inc. — Director's Dealing 2004

Sep 3, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2004-09-03

Reporting Person: HANKS WILLIAM BRUCE (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-03	Common Stock	S	11040	—	Disposed	30685.00	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	0.00	Indirect
Common Stock	0.00	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Director Stock Option (right to buy)	$29.06	2012-05-10	Common Stock (4000.00)	4000.00	Direct
Director Stock Option (right to buy)	$32.18	2013-05-09	Common Stock (6000.00)	6000.00	Direct
Director Stock Option (right to buy)	$29.70	2014-05-07	Common Stock (6000.00)	6000.00	Direct
Employee Stock Option (right to buy)	$13.50	2007-02-24	Common Stock (59616.00)	59616.00	Direct
Employee Stock Option (right to buy)	$34.63	2010-02-21	Common Stock (30000.00)	30000.00	Direct

Footnotes

F1: One-third of the Stock Options are exercisable immediately, one-third are exercisble on 2/24/98, and one-third are exercisable on 2/24/99.

F2: One-third of the Stock Options are exercisable 2/21/2001, one-third are exercisable on 2/21/2002, and one-third are exercisable on 2/21/2003.