Lumen Technologies, Inc. — Director's Dealing 2007

May 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2007-05-07

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-07	Common Stock	M	13500	$35.41	Acquired	60054.1456	Direct
2007-05-07	Common Stock	S	16320	$48.2847	Disposed	43734.1456	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-07	Employee Stock Option (right to buy)	$35.41	M	13500	Disposed	2016-02-20	Common Stock (13500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	123.7687	Indirect
Common Stock	246.1084	Indirect
Common Stock	0.1443	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$45.54	2009-03-24	Common Stock (19142)	19142	Direct
Employee Stock Option (right to buy)	$45.9	2017-02-26	Common Stock (40500)	40500	Direct