Lumen Technologies, Inc. — Director's Dealing 2007

May 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2007-05-03

Reporting Person: POST GLEN F III (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-03	Common Stock	M	12934	$32.99	Acquired	314612.64	Direct
2007-05-03	Common Stock	S	12934	$49	Disposed	301678.64	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-03	Employee Stock Option (right to buy)	$32.99	M	12934	Disposed	2012-02-25	Common Stock (12934)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7199.4823	Indirect
Common Stock	20608.4571	Indirect
Common Stock	5864.549	Indirect
Common Stock	50435.2831	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$28.34	2014-02-25	Common Stock (160000)	160000	Direct
Employee Stock Option (right to buy)	$33.4	2015-02-17	Common Stock (200000)	200000	Direct
Employee Stock Option (right to buy)	$34.63	2010-02-21	Common Stock (320000)	320000	Direct
Employee Stock Option (right to buy)	$35.41	2016-02-20	Common Stock (200000)	200000	Direct
Employee Stock Option (right to buy)	$45.9	2017-02-26	Common Stock (200000)	200000	Direct