EastGroup Properties Announces 121st Consecutive Quarterly Cash Dividend

Jackson, MS – March 5, 2010 – (RealEstateRama) — EastGroup Properties (NYSE-EGP) announced today that its Board of Directors declared a quarterly cash dividend of $.52 per share payable on March 31, 2010 to shareholders of record of Common Stock on March 19, 2010. This dividend is the 121st consecutive quarterly distribution to EastGroup’s shareholders and represents an annualized dividend rate of $2.08 per share.

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 28.1 million square feet.

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

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