Lumen Technologies, Inc. — Director's Dealing 2007

Feb 20, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2007-02-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-20	Common Stock	M	13500	$33.4	Acquired	48991.41	Direct
2007-02-20	Common Stock	S	13500	$45.196	Disposed	35491.41	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-20	Employee Stock Option (right to buy)	$33.4	M	13500	Disposed	2015-02-17	Common Stock (13500)	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