Lumen Technologies, Inc. — Director's Dealing 2006

Jul 10, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2006-07-10

Reporting Person: SWEASY NEIL (VP and Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-07-10	Common Stock	M	7800	—	Acquired	14301.28	Direct
2006-07-10	Common Stock	M	2250	—	Acquired	16551.28	Direct
2006-07-10	Common Stock	S	10050	$37.5	Disposed	6501.28	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-07-10	Employee Stock Option (right to buy)	$13.33	M	2250	Disposed	2007-01-02	Common Stock (2250)	Direct
2006-07-10	Employee Stock Option (right to buy)	$28.03	M	7800	Disposed	2011-05-21	Common Stock (7800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4965.51	Indirect
Common Stock	1313.3	Indirect
Common Stock	4234.73	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$33.4	2015-02-17	Common Stock (6500)	6500	Direct
Employee Stock Option (right to buy)	$34.63	2010-02-21	Common Stock (12000)	12000	Direct
Employee Stock Option (right to buy)	$27.48	2013-02-24	Common Stock (13000)	13000	Direct
Employee Stock Option (right to buy)	$32.99	2012-02-25	Common Stock (13000)	13000	Direct
Employee Stock Option (right to buy)	$28.34	2014-02-25	Common Stock (6500)	6500	Direct
Employee Stock Option (right to buy)	$35.41	2016-02-20	Common Stock (6500)	6500	Direct
Employee Stock Option (right to buy)	$46.19	2009-04-07	Common Stock (2823)	2823	Direct

Footnotes

F1: Options were 50% exerisable on 01/02/1999 and 50% exercisable on 01/20/2000.