Lumen Technologies, Inc. — Director's Dealing 2005

Aug 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2005-08-16

Reporting Person: COLE DAVID D (Sr. VP - Operations Support)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-16	Phantom Stock Units	$	A	542.2	Acquired		Common Stock (542.20)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30545.79	Direct
Common Stock	4409.73	Indirect
Common Stock	10876.39	Indirect
Common Stock	1527.39	Indirect
Common Stock	2024.10	Indirect
Common Stock	645.69	Indirect
Common Stock	10574.43	Indirect
Common Stock	2719.79	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$13.50	2007-02-24	Common Stock (34616.00)	34616.00	Direct
Employee Stock Option (right to buy)	$34.63	2010-02-21	Common Stock (85000.00)	85000.00	Direct
Employee Stock Option (right to buy)	$28.03	2011-05-21	Common Stock (81000.00)	81000.00	Direct
Employee Stock Option (right to buy)	$32.99	2012-02-25	Common Stock (81000.00)	81000.00	Direct
Employee Stock Option (right to buy)	$27.48	2013-02-24	Common Stock (81000.00)	81000.00	Direct
Employee Stock Option (right to buy)	$28.34	2014-02-25	Common Stock (40500.00)	40500.00	Direct
Employee Stock Option (right to buy)	$33.40	2015-02-17	Common Stock (40500.00)	40500.00	Direct

Footnotes

F1: As of most recent statement available

F2: As of most recent statement available.

F3: As of most recent statement available.

F4: As of most recent statement available.

F5: Security converts on a 1-to-1 basis.

F6: The reported phantom stock units were acquired under CTE's excess benefit plan and will be settled upon the reporting person's termination of service.

F7: 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.

F8: 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.

F9: One-third of the Stock Options are exercisable 5/21/02, one-third are exercisable 5/21/03, and one-third are exercisable 5/21/04.

F10: One-third of the Stock Options are exercisable 2/25/03, one-third are exercisable 2/25/04, and one-third are exercisable 2/25/05.

F11: One-third of the Stock Options are exercisable 2/24/04, one-third are exercisable 2/24/05, and one-third are exercisable 2/24/06.

F12: One-third of the options are exercisable immediately, one-third are exercisable 2/25/05, and one-third are exercisable 2/25/06.

F13: One-third of the options are exercisable immediately, one-third are exercisable 2/17/06, and one-third are exercisable 2/17/07.