EastGroup Properties Announces 132nd Consecutive Quarterly Cash Dividend

Jackson, Mississippi, December 6, 2012—EastGroup Properties (NYSE-EGP) announced today that its Board of Directors declared a quarterly cash dividend of $.53 per share payable on December 31, 2012, to shareholders of record of Common Stock on December 18, 2012. This dividend is the 132nd consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $2.12 per share. EastGroup has increased or maintained its dividend for 20 consecutive years and increased it 17 years over that period.

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, California and North Carolina. 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 over 31 million square feet.

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

FOR MORE INFORMATION, CONTACT:
David H. Hoster II, President and Chief Executive Officer
N. Keith McKey, Chief Financial Officer
(601) 354-3555