FOR MORE INFORMATION, CONTACT:

David H. Hoster II, President and Chief Executive Officer

N. Keith McKey, Chief Financial Officer

(601) 354-3555

EastGroup Properties Corporate Office Moves to the Pinnacle Building

Jackson, Mississippi, December 11, 2008– EastGroup Properties (NYSE-EGP) announced today that effective Monday, December 15, 2008, their corporate office will relocate to The Pinnacle Building at 190 East Capitol Street, Suite 400, Jackson, MS 39201-2152. All telephone numbers, e-mail addresses and the post office box number will remain the same.

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 Florida, Texas, Arizona and California. 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 27 million square feet.

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