FOR MORE INFORMATION, CONTACT:

David H. Hoster II, President and Chief Executive Officer

N. Keith McKey, Chief Financial Officer

(601) 354-3555

EastGroup Properties Announces Presentation At Harris Nesbitt 2006 Reit Conference

Jackson, Mississippi, May 15, 2006– EastGroup Properties (NYSE-EGP) announced today that it is scheduled to present at the 2nd Annual Harris Nesbitt North American REIT Conference in Chicago. EastGroup's presentation is scheduled for Tuesday, May 16, 2006 at 9:30 a.m. CDT. The presentation will be via web cast and is accessible at www.harrisnesbitt.com/conferences/reit2006 the day of the conference and will be archived at the same URL for six months.

EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with special emphasis in the states of Arizona, California, Florida and Texas. Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup’s portfolio currently includes 21.4 million square feet with an additional 1,074,000 square feet of properties under development.

EastGroup Properties, Inc. press releases are available at www.eastgroup.net.


P.O. Box 22728, Jackson, MS 39225-2728

Telephone: 601/354-3555 Fax: 601/352-1441