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 2008 FBR Capital Markets Fall Investor Conference

Jackson, Mississippi, December 1, 2008– EastGroup Properties (NYSE-EGP) announced today that it is scheduled to present at the 2008 FBR Capital Markets Fall Investor Conference. EastGroup's presentation is scheduled for Wednesday, December 3, 2008 at 10:45 a.m. EST. The presentation will be via web cast and is accessible at www.fbrcapitalmarkets.com/fall08 the day of the conference.

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 an 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 25.6 million square feet with an additional 1.7 million 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