Lumen Technologies, Inc. — Director's Dealing 2006

Sep 7, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2006-09-07

Reporting Person: MASLOWSKI MICHAEL E (Sr. VP & Chief Info. Off.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-07	Common Stock	M	1100	$32.99	Acquired	36591.41	Direct
2006-09-07	Common Stock	S	1100	$40	Disposed	35491.41	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-09-07	Employee Stock Option (right to buy)	$32.99	M	1100	Disposed	2012-02-25	Common Stock (1100)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	285.68	Indirect
Common Stock	1453.77	Indirect
Common Stock	376.6	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$33.4	2015-02-17	Common Stock (40500)	40500	Direct
Employee Stock Option (right to buy)	$34.63	2010-02-21	Common Stock (50000)	50000	Direct
Employee Stock Option (right to buy)	$35.41	2016-02-20	Common Stock (40500)	40500	Direct
Employee Stock Option (right to buy)	$45.54	2009-03-24	Common Stock (19142)	19142	Direct