Lumen Technologies, Inc. — Director's Dealing 2007

Mar 1, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2007-02-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-26	Common Stock	A	12000	—	Acquired	48455.58	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-26	Employee Stock Option (right to buy)	$45.9	A	40500	Acquired	2017-02-26	Common Stock (40500)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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

Footnotes

F1: One-third of the options are execisable 3/15/08, one-third are exercisable 3/15/09, and one-third are exercisable 3/15/10.