|   |   | MARYLAND                                                            | 13-2711135               |   |
|--------|--------|---------------------------------------------------------------------|--------------------------|--------|
|   |   | (State      or other jurisdiction                                   | (I.R.S.      Employer    |   |
|   |   | of      incorporation or organization)                              | Identification      No.) |   |
|   |   |                                                                |                     |   |
|   |   | 190      EAST CAPITOL STREET                                        |                     |   |
|   |   | SUITE      400                                                      |                     |   |
|   |   | JACKSON,      MISSISSIPPI                                           | 39201                    |   |
|   |   | (Address      of principal executive offices)                       | (Zip      code)          |   |
|   |   |                                                                |                     |   |
|   |   | Registrant’s      telephone number:  (601) 354-3555 |                     |   |

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| ·  | population      and demographic trends; |
|--------------|-----------------------------------------|

| ·  | employment      and personal income trends; |
|--------------|---------------------------------------------|

| ·  | income      tax laws; |
|--------------|-----------------------|

| ·  | changes      in interest rates and availability and costs of  financing; |
|--------------|--------------------------------------------------------------------------|

| ·  | increased      operating costs, including insurance premiums, utilities and real estate      taxes, due to inflation and other factors which may not necessarily be      offset by increased rents; and |
|--------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·  | construction      costs. |
|--------------|--------------------------|

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| ·   | the      availability of favorable financing  alternatives; |
|--------------------|-------------------------------------------------------------|

| ·   | the      risk that we may not be able to obtain land on which to develop or that      due to the increased cost of land, our activities may not be as      profitable; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | construction      costs exceeding original estimates due to rising interest rates and      increases in the costs of materials andlabor; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | construction      and lease-up delays resulting in increased debt service, fixed expenses      and construction costs; |
|--------------------|------------------------------------------------------------------------------------------------------------------------|

| ·   | expenditure      of funds and devotion of management's time to projects that we do not      complete; |
|--------------------|-------------------------------------------------------------------------------------------------------|

| ·   | occupancy      rates and rents at newly completed properties may fluctuate depending on a      number of factors, including market and economic conditions, resulting in      lower than projected rental rates and a corresponding lower return on our      investment; and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | complications      (including building moratoriums and anti-growth legislation) in obtaining      necessary zoning, occupancy and other governmental  permits. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | when      we are able to locate a desired property, competition from other real      estate investors may significantly increase the purchase      price; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | acquired      properties may fail to perform asexpected; |
|--------------------|----------------------------------------------------------|

| ·   | the      actual costs of repositioning or redeveloping acquired properties may be      higher than our estimates; |
|--------------------|-------------------------------------------------------------------------------------------------------------------|

| ·   | acquired      properties may be located in new markets where we face risks associated      with an incomplete knowledge or understanding of the local market, a      limited number of established business relationships in the area and a      relative unfamiliarity with local governmental and permitting      procedures; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | we      may be unable to quickly and efficiently integrate new acquisitions,      particularly acquisitions of portfolios of properties, into our existing      operations, and as a result, our results of operations and financial      condition could be adversely affected;and |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | we      may acquire properties subject to liabilities and without any recourse, or      with only limited recourse, to the transferor with respect to unknown      liabilities. As a result, if a claim were asserted against us based upon      ownership of those properties, we might have to pay substantial sums to      settle it, which could adversely affect our cash  flow. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Calendar      Year 2009 |   |   | Calendar      Year 2008 |   |
|-------------------------|--------|--------|-------------------------|--------|
| Quarter                 |   | High   |                    |   | Low |   |   | Distributions |   |   | High |   |   | Low |   |   | Distributions |   |
| First                   |   | $      | 34.93                   |   |   |   | 21.14 |   |   | $ | .52 |   |   | $ | 48.07 |   |   |   | 39.09 |   |   | $ | .52 |   |
| Second                  |   |   | 36.26                   |   |   |   | 27.70 |   |   |   | .52 |   |   |   | 51.07 |   |   |   | 42.12 |   |   |   | .52 |   |
| Third                   |   |   | 40.59                   |   |   |   | 31.85 |   |   |   | .52 |   |   |   | 50.00 |   |   |   | 40.52 |   |   |   | .52 |   |
| Fourth                  |   |   | 40.54                   |   |   |   | 35.45 |   |   |   | .52 |   |   |   | 48.53 |   |   |   | 22.30 |   |   |   | .52 |   |
|                    |   |   |                    |   |   |   |   |   |   | $ | 2.08 |   |   |   |   |   |   |   |   |   |   | $ | 2.08 |   |

|                                                                          |   | Years      Ended December 31, |    |
|-------------------------------------------------------------------------------|--------|-------------------------------|---------|
|                                                                          |   | 2009                          |    |   | 2008 |   |
| Common      Share Distributions:                                              |   |                          |    |   |   |   |
|     Ordinary      income                                  |   | $                             | 1.7534  |   |   |   | 2.0758 |   |
|     Return      of capital                                |   |                          | .3266   |   |   |   | – |   |
|     Unrecaptured      Section 1250 long-term capital gain |   |                          | – |   |   |   | .0042 |   |
| Total      Common Distributions                                               |   | $                             | 2.0800  |   |   |   | 2.0800 |   |

| Period                      |   | Total      Numberof      Shares Purchased |    |   | Average      Price Paid Per Share |   |    | Total      Number of Shares Purchased as Part of Publicly Announced Plans or      Programs |   |   | Maximum      Number of Shares That May Yet Be Purchased Under the Plans or      Programs |   |
|-----------------------------|--------|-------------------------------------------|---------|--------|-----------------------------------|--------|---------|--------------------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------|--------|
| 10/01/09      thru 10/31/09 |   |                                      | – |   |                              | $      | – |                                                                                       |   |   | –                                                                                  |   |   |   | 672,300 |   |
| 11/01/09      thru 11/30/09 |   |                                      | – |   |                              |   | – |                                                                                       |   |   | –                                                                                  |   |   |   | 672,300 |   |
| 12/01/09      thru 12/31/09 |   |                                      | 4,886   | (1)    |                              |   | 38.28   |                                                                                       |   |   | –                                                                                  |   |   |   | 672,300 | (2) |
| Total                       |   |                                      | 4,886   |   |                              | $      | 38.28   |                                                                                       |   |   | –                                                                                  |   |   |   |   |   |

| (1)   | As      permitted under the Company's equity compensation plans, these shares were      withheld by the Company to satisfy the tax withholding obligations for      those employees who elected this option in connection with the vesting of      shares of restricted stock. Shares withheld for tax withholding      obligations do not affect the total number of remaining shares available      for repurchase under the Company’s common stock repurchase      plan. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | EastGroup's      Board of Directors has authorized the repurchase of up to 1,500,000 shares      of its outstanding common stock.  The shares may be purchased      from time to time in the open market or in privately negotiated      transactions.  Under the common stock repurchase plan, the      Company has purchased a total of 827,700 shares for $14,170,000 (an      average of $17.12 per share) with 672,300 shares still authorized for      repurchase.  The Company has not repurchased any shares under      this plan since 2000. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                     |   | Fiscal      years ended December 31, |   |
|--------------------------|--------|--------------------------------------|--------|
|                     |   | 2004                                 |   |   | 2005 |   |   | 2006 |   |   | 2007 |   |   | 2008 |   |   | 2009 |   |
|  EastGroup          |   | $                                    | 100.00 |   |   |   | 123.39 |   |   |   | 152.25 |   |   |   | 124.33 |   |   |   | 110.93 |   |   |   | 125.83 |   |
|  NAREIT      Equity |   |                                 | 100.00 |   |   |   | 112.16 |   |   |   | 151.48 |   |   |   | 127.71 |   |   |   | 79.53 |   |   |   | 101.79 |   |
|  S&P      500   |   |                                 | 100.00 |   |   |   | 103.00 |   |   |   | 117.03 |   |   |   | 121.16 |   |   |   | 74.53 |   |   |   | 92.01 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Years      Ended December 31,              |      |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2009                                       |      | 2008 |   | 2007 |   |   | 2006 |   |   | 2005 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | (In      thousands, except per share data) |      |
| OPERATING      DATA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |
|   Income      from real estate operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $                                          | 172,273   |   |   |   | 168,255 |   |   |   | 150,038 |   |   |   | 132,394 |   |   |   | 119,712 |   |
|   Other      income                                                                                                                                   |   |                                       | 81        |   |   |   | 248 |   |   |   | 92 |   |   |   | 182 |   |   |   | 413 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       | 172,354   |   |   |   | 168,503 |   |   |   | 150,130 |   |   |   | 132,576 |   |   |   | 120,125 |   |
| Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Expenses      from real estate operations                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                       | 50,259    |   |   |   | 47,259 |   |   |   | 40,837 |   |   |   | 36,909 |   |   |   | 34,025 |   |
|   Depreciation      and      amortization                                                                                                             |   |                                       | 53,953    |   |   |   | 51,144 |   |   |   | 47,644 |   |   |   | 41,108 |   |   |   | 37,377 |   |
|   General      and      administrative                                                                                                                |   |                                       | 9,071     |   |   |   | 8,547 |   |   |   | 8,295 |   |   |   | 7,401 |   |   |   | 6,874 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       | 113,283   |   |   |   | 106,950 |   |   |   | 96,776 |   |   |   | 85,418 |   |   |   | 78,276 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                       | 59,071    |   |   |   | 61,553 |   |   |   | 53,354 |   |   |   | 47,158 |   |   |   | 41,849 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other      income (expense)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Equity      in earnings of unconsolidated investment                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                       | 320       |   |   |   | 316 |   |   |   | 285 |   |   |   | 287 |   |   |   | 450 |   |
|   Gain on sales of      non-operating real estate                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                       | 31        |   |   |   | 321 |   |   |   | 2,602 |   |   |   | 123 |   |   |   | – |   |
|   Gain on sales of      securities                                                                                                                    |   |                                       | –   |   |   |   | 435 |   |   |   | – |   |   |   | – |   |   |   | – |   |
|   Interest      income                                                                                                                                |   |                                       | 302       |   |   |   | 293 |   |   |   | 306 |   |   |   | 142 |   |   |   | 247 |   |
|   Interest      expense                                                                                                                               |   |                                       | (32,520   | ) |   |   | (30,192 | ) |   |   | (27,314 | ) |   |   | (24,616 | ) |   |   | (23,444 | ) |
| Income      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                       | 27,204    |   |   |   | 32,726 |   |   |   | 29,233 |   |   |   | 23,094 |   |   |   | 19,102 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Discontinued      operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Income      (loss) from real estate      operations                                                                                                                                                                                 |   |                                       | (139      | ) |   |   | 10 |   |   |   | 150 |   |   |   | 1,013 |   |   |   | 2,409 |   |
|   Gain      on sales of real estate investments                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                       | 29        |   |   |   | 2,032 |   |   |   | 960 |   |   |   | 5,727 |   |   |   | 1,164 |   |
| Income      (loss) from discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                       | (110      | ) |   |   | 2,042 |   |   |   | 1,110 |   |   |   | 6,740 |   |   |   | 3,573 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                                                                                                                                                 |   |                                       | 27,094    |   |   |   | 34,768 |   |   |   | 30,343 |   |   |   | 29,834 |   |   |   | 22,675 |   |
|   Net      income attributable to noncontrolling interest     in      joint ventures                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       | (435      | ) |   |   | (626 | ) |   |   | (609 | ) |   |   | (600 | ) |   |   | (484 | ) |
| Net      income attributable to EastGroup Properties, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                       | 26,659    |   |   |   | 34,142 |   |   |   | 29,734 |   |   |   | 29,234 |   |   |   | 22,191 |   |
|   Dividends      on Series D preferred shares                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                       | –   |   |   |   | 1,326 |   |   |   | 2,624 |   |   |   | 2,624 |   |   |   | 2,624 |   |
|   Costs      on redemption of Series D preferred shares                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                       | –   |   |   |   | 682 |   |   |   | – |   |   |   | – |   |   |   | – |   |
| Net      income available to EastGroup Properties, Inc.  common      stockholders                                                                     |   | $                                          | 26,659    |   |   |   | 32,134 |   |   |   | 27,110 |   |   |   | 26,610 |   |   |   | 19,567 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BASIC      PER COMMON SHARE DATA FOR INCOME  ATTRIBUTABLE      TO EASTGROUP PROPERTIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Income      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $                                          | 1.04      |   |   |   | 1.23 |   |   |   | 1.10 |   |   |   | .89 |   |   |   | .74 |   |
|   Income      (loss) from discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                       | .00       |   |   |   | .08 |   |   |   | .05 |   |   |   | .30 |   |   |   | .17 |   |
|   Net      income available to common stockholders                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                                          | 1.04      |   |   |   | 1.31 |   |   |   | 1.15 |   |   |   | 1.19 |   |   |   | .91 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Weighted      average shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                       | 25,590    |   |   |   | 24,503 |   |   |   | 23,562 |   |   |   | 22,372 |   |   |   | 21,567 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| DILUTED      PER COMMON SHARE DATA FOR INCOME  ATTRIBUTABLE      TO EASTGROUP PROPERTIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Income      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $                                          | 1.04      |   |   |   | 1.22 |   |   |   | 1.09 |   |   |   | .87 |   |   |   | .73 |   |
|   Income      (loss) from discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                       | .00       |   |   |   | .08 |   |   |   | .05 |   |   |   | .30 |   |   |   | .16 |   |
|   Net      income available to common stockholders                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                                          | 1.04      |   |   |   | 1.30 |   |   |   | 1.14 |   |   |   | 1.17 |   |   |   | .89 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Weighted      average shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                       | 25,690    |   |   |   | 24,653 |   |   |   | 23,781 |   |   |   | 22,692 |   |   |   | 21,892 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AMOUNTS      ATTRIBUTABLE TO EASTGROUP  PROPERTIES,      INC. COMMON STOCKHOLDERS                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Income      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $                                          | 26,769    |   |   |   | 30,092 |   |   |   | 26,000 |   |   |   | 19,870 |   |   |   | 15,994 |   |
|   Income      (loss) from discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                       | (110      | ) |   |   | 2,042 |   |   |   | 1,110 |   |   |   | 6,740 |   |   |   | 3,573 |   |
|   Net      income available to common stockholders                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                                          | 26,659    |   |   |   | 32,134 |   |   |   | 27,110 |   |   |   | 26,610 |   |   |   | 19,567 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OTHER      PER SHARE DATA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Book      value (at end of      year)                                                                                                               |   | $                                          | 16.57     |   |   |   | 16.39 |   |   |   | 15.51 |   |   |   | 16.28 |   |   |   | 15.06 |   |
|   Common      distributions      declared                                                                                                             |   |                                       | 2.08      |   |   |   | 2.08 |   |   |   | 2.00 |   |   |   | 1.96 |   |   |   | 1.94 |   |
|   Common      distributions      paid                                                                                                                 |   |                                       | 2.08      |   |   |   | 2.08 |   |   |   | 2.00 |   |   |   | 1.96 |   |   |   | 1.94 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BALANCE      SHEET DATA (AT END OF YEAR)                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                       |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Real      estate investments, at cost (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                                          | 1,475,062 |   |   |   | 1,409,476 |   |   |   | 1,270,691 |   |   |   | 1,091,653 |   |   |   | 1,024,459 |   |
|   Real estate      investments, net of accumulated depreciation(1)                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       | 1,120,317 |   |   |   | 1,099,125 |   |   |   | 1,001,559 |   |   |   | 860,547 |   |   |   | 818,032 |   |
|   Total      assets                                                                                                                                   |   |                                       | 1,178,518 |   |   |   | 1,156,205 |   |   |   | 1,055,833 |   |   |   | 911,787 |   |   |   | 863,538 |   |
|   Mortgage      and bank loans payable                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                       | 692,105   |   |   |   | 695,692 |   |   |   | 600,804 |   |   |   | 446,506 |   |   |   | 463,725 |   |
|   Total      liabilities                                                                                                                              |   |                                       | 731,422   |   |   |   | 742,829 |   |   |   | 651,136 |   |   |   | 490,842 |   |   |   | 496,972 |   |
|   Noncontrolling      interest in joint ventures                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                       | 2,577     |   |   |   | 2,536 |   |   |   | 2,312 |   |   |   | 2,148 |   |   |   | 1,702 |   |
|   Total      stockholders’      equity                                                                                                          |   |                                       | 444,519   |   |   |   | 410,840 |   |   |   | 402,385 |   |   |   | 418,797 |   |   |   | 364,864 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Years      Ended December 31,              |    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009                                       |    |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      thousands, except per share data) |    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       |    |   |   |   |   |   |   |
| Income      from real estate      operations                                                                                                                                                       |   | $                                          | 172,273 |   |   |   | 168,255 |   |   |   | 150,038 |   |
| Expenses      from real estate      operations                                                                                                                                                     |   |                                       | (50,259 | ) |   |   | (47,259 | ) |   |   | (40,837 | ) |
| PROPERTY      NET OPERATING      INCOME                                                                                                                                                            |   |                                       | 122,014 |   |   |   | 120,996 |   |   |   | 109,201 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       |    |   |   |   |   |   |   |   |   |   |
| Equity in earnings of      unconsolidated investment (before      depreciation)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                       | 452     |   |   |   | 448 |   |   |   | 417 |   |
| Income (loss) from discontinued      operations (before      depreciation and amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                       | (88     | ) |   |   | 158 |   |   |   | 564 |   |
| Interest      income                                                                                                                                                                               |   |                                       | 302     |   |   |   | 293 |   |   |   | 306 |   |
| Gain      on sales of      securities                                                                                                                                                              |   |                                       | – |   |   |   | 435 |   |   |   | – |   |
| Other      income                                                                                                                                                                                  |   |                                       | 81      |   |   |   | 248 |   |   |   | 92 |   |
| Interest      expense                                                                                                                                                                              |   |                                       | (32,520 | ) |   |   | (30,192 | ) |   |   | (27,314 | ) |
| General and administrative      expense                                                                                                                                                            |   |                                       | (9,071  | ) |   |   | (8,547 | ) |   |   | (8,295 | ) |
| Noncontrolling interest in      earnings (before      depreciation and amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       | (641    | ) |   |   | (827 | ) |   |   | (783 | ) |
| Gain on sales of non-operating      real      estate                                                                                                                                               |   |                                       | 31      |   |   |   | 321 |   |   |   | 2,602 |   |
| Dividends on Series D preferred      shares                                                                                                                                                        |   |                                       | – |   |   |   | (1,326 | ) |   |   | (2,624 | ) |
| Costs on redemption of Series D      preferred      shares                                                                                                                                         |   |                                       | – |   |   |   | (682 | ) |   |   | – |   |
| FUNDS FROM OPERATIONS AVAILABLE      TO COMMON STOCKHOLDERS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                       | 80,560  |   |   |   | 81,325 |   |   |   | 74,166 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       |    |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                       | (53,953 | ) |   |   | (51,144 | ) |   |   | (47,644 | ) |
| Depreciation and amortization      from discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                       | (51     | ) |   |   | (148 | ) |   |   | (414 | ) |
| Depreciation from unconsolidated      investment                                                                                                                                                   |   |                                       | (132    | ) |   |   | (132 | ) |   |   | (132 | ) |
| Noncontrolling      interest depreciation and      amortization                                                                                                                                    |   |                                       | 206     |   |   |   | 201 |   |   |   | 174 |   |
| Gain      on sales of depreciable real estate      investments                                                                                                                                     |   |                                       | 29      |   |   |   | 2,032 |   |   |   | 960 |   |
| NET      INCOME AVAILABLE TO EASTGROUP PROPERTIES, INC.     COMMON      STOCKHOLDERS                                                                                      |   |                                       | 26,659  |   |   |   | 32,134 |   |   |   | 27,110 |   |
| Dividends      on Series D preferred      shares                                                                                                                                                   |   |                                       | – |   |   |   | 1,326 |   |   |   | 2,624 |   |
| Costs      on redemption of Series D preferred      shares                                                                                                                                         |   |                                       | – |   |   |   | 682 |   |   |   | – |   |
| NET      INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $                                          | 26,659  |   |   |   | 34,142 |   |   |   | 29,734 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       |    |   |   |   |   |   |   |   |   |   |
| Net      income available to common stockholders per diluted share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                                          | 1.04    |   |   |   | 1.30 |   |   |   | 1.14 |   |
| Funds      from operations available to common stockholders per diluted      share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                       | 3.14    |   |   |   | 3.30 |   |   |   | 3.12 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       |    |   |   |   |   |   |   |   |   |   |
| Diluted      shares for earnings per share and funds from operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                       | 25,690  |   |   |   | 24,653 |   |   |   | 23,781 |   |

----

| ·   | The      FFO change per share represents the increase or decrease in FFO per share      from the same quarter in the current year compared to the prior      year.  FFO per share for the fourth quarter of 2009 was $.75 per      share compared with $.85 per share for the same period of 2008, a decrease      of 11.8% per share.  PNOI decreased 2.1% primarily due to a      decrease in PNOI of $1,711,000 from same property operations, offset by      additional PNOI of $681,000 from newly developed properties and $311,000      from 2008 and 2009 acquisitions. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Same      property net operating income change represents the PNOI increase or      decrease for the same operating properties owned during the entire current      period and prior year reporting period.  PNOI from same      properties decreased 5.6% for the three months ended December 31,      2009.  For the year 2009, PNOI from same properties decreased      4.3%. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Bad      debt expense for the three months ended December 31, 2009 was $473,000      compared to $307,000 for the same period of 2008.  For the year      2009, bad debt expense was $2,101,000 compared to $1,590,000 for      2008. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Occupancy      is the percentage of leased square footage for which the lease term has      commenced as compared to the total leasable square footage as of the close      of the reporting period.  Occupancy at December 31, 2009 was      89.4%.  Quarter-end occupancy ranged from 88.9% to 93.8% over      the period from December 31, 2008 to December 31,  2009. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Rental      rate change represents the rental rate increase or decrease on new and      renewal leases compared to the prior leases on the same      space.  Rental rate decreases on new and renewal leases (4.5% of      total square footage) averaged 4.4% for the fourth quarter of      2009.  For the year, rental rate decreases on new and renewal      leases (19.3% of total square footage) averaged  5.3%. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|  REAL      ESTATE PROPERTIES ACQUIRED IN 2009    | Location           |   | Size               |    | DateAcquired |     | Cost      (1)       |   |
|-------------------------------------------------------|--------------------|--------|--------------------|---------|--------------|----------|---------------------|--------|
|                                                  |               |   | (Square      feet) |    |         |     | (In      thousands) |   |
| Arville      Distribution Center                      | Las      Vegas, NV |   |               | 142,000 |         | 05/27/09 |                | $      | 11,050 |   |
| Interstate      Distribution Center V, VI and VII     | Dallas,      TX    |   |               | 226,000 |         | 08/13/09 |                |   | 6,675 |   |
|      Total      Acquisitions |               |   |               | 368,000 |         |     |                | $      | 15,957 |   |

| (1)   | Total      cost of the properties acquired was $17,725,000, of which $15,957,000 was      allocated to real estate properties as indicated      above.  Intangibles associated with the purchases of real estate      were allocated as follows:  $1,207,000 to in-place lease      intangibles, $568,000 to above market leases (both included in Other      Assets on the Consolidated Balance Sheets) and $7,000 to below market      leases (included in Other Liabilities on the Consolidated Balance      Sheets).  All of these costs are amortized over the remaining      lives of the associated leases in place at the time of      acquisition.  During 2009, the Company expensed      acquisition-related costs of $115,000 in connection with the Arville and      Interstate acquisitions.  These costs are included in General      and Administrative Expenses on the Consolidated Statements of      Income. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                               |   |               |      |   | Costs      Incurred                  |   |    |                           |   |
|--------------------------------------------------------------------|--------|--------------------|-----------|--------|--------------------------------------|--------|---------|--------------------------------|--------|
|  DEVELOPMENT                                                  |   |  Size         |      |   | For      theYear      Ended 12/31/09 |   |    | Cumulative      as of 12/31/09 |   |   | EstimatedTotal      Costs(1) |   |
|                                                               |   | (Square      feet) |      |   | (In      thousands)                  |   |
| LEASE-UP                                                           |   |               |      |   |                                 |   |    |                           |   |   |   |   |
|   Beltway      Crossing VII, Houston, TX                 |   |               | 95,000    |   |                                 | $      | 1,432   |                           |   |   | 5,645 |   |   |   | 6,400 |   |
|   Country      Club III & IV, Tucson, AZ             |   |               | 138,000   |   |                                 |   | 2,680   |                           |   |   | 10,727 |   |   |   | 12,100 |   |
|   Oak      Creek IX,  Tampa, FL                |   |               | 86,000    |   |                                 |   | 951     |                           |   |   | 5,151 |   |   |   | 5,800 |   |
|   Blue      Heron III, West Palm Beach, FL               |   |               | 20,000    |   |                                 |   | 652     |                           |   |   | 2,550 |   |   |   | 2,700 |   |
|   World      Houston 30, Houston, TX                     |   |               | 88,000    |   |                                 |   | 4,289   |                           |   |   | 5,880 |   |   |   | 6,600 |   |
| Total      Lease-up                                                |   |               | 427,000   |   |                                 |   | 10,004  |                           |   |   | 29,953 |   |   |   | 33,600 |   |
| UNDER      CONSTRUCTION                                            |   |               |      |   |                                 |   |    |                           |   |   |   |   |   |   |   |   |
|   Arion      8 Expansion, San Antonio, TX                |   |               | 20,000    |   |                                 |   | 51      |                           |   |   | 51 |   |   |   | 1,900 |   |
| Total      Under Construction                                      |   |               | 20,000    |   |                                 |   | 51      |                           |   |   | 51 |   |   |   | 1,900 |   |
| PROSPECTIVE      DEVELOPMENT (PRIMARILY LAND)                      |   |               |      |   |                                 |   |    |                           |   |   |   |   |   |   |   |   |
|   Tucson,      AZ                                        |   |               | 70,000    |   |                                 |   | – |                           |   |   | 417 |   |   |   | 4,900 |   |
|   Tampa,      FL                                         |   |               | 249,000   |   |                                 |   | 29      |                           |   |   | 3,919 |   |   |   | 14,600 |   |
|   Orlando,      FL                                       |   |               | 1,584,000 |   |                                 |   | 6,573   |                           |   |   | 21,026 |   |   |   | 101,700 |   |
|   Fort      Myers, FL                                    |   |               | 659,000   |   |                                 |   | 909     |                           |   |   | 15,923 |   |   |   | 48,100 |   |
|   Dallas,      TX                                        |   |               | 70,000    |   |                                 |   | 71      |                           |   |   | 641 |   |   |   | 4,100 |   |
|   El      Paso, TX                                       |   |               | 251,000   |   |                                 |   | – |                           |   |   | 2,444 |   |   |   | 9,600 |   |
|   Houston,      TX                                       |   |               | 1,064,000 |   |                                 |   | 2,486   |                           |   |   | 15,272 |   |   |   | 68,100 |   |
|   San      Antonio, TX                                   |   |               | 595,000   |   |                                 |   | 708     |                           |   |   | 6,147 |   |   |   | 37,500 |   |
|   Charlotte,      NC                                     |   |               | 95,000    |   |                                 |   | 100     |                           |   |   | 1,095 |   |   |   | 7,100 |   |
|   Jackson,      MS                                       |   |               | 28,000    |   |                                 |   | – |                           |   |   | 706 |   |   |   | 2,000 |   |
| Total      Prospective Development                                 |   |               | 4,665,000 |   |                                 |   | 10,876  |                           |   |   | 67,590 |   |   |   | 297,700 |   |
|                                                               |   |               | 5,112,000 |   |                                 | $      | 20,931  |                           |   |   | 97,594 |   |   |   | 333,200 |   |
| DEVELOPMENTS      COMPLETED AND TRANSFERRED                        |   |               |      |   |                                 |   |    |                           |   |   |   |   |   |   |   |   |
| TO      REAL ESTATE PROPERTIES DURING 2009                         |   |               |      |   |                                 |   |    |                           |   |   |   |   |   |   |   |   |
|   40th      Avenue Distribution Center, Phoenix, AZ      |   |               | 90,000    |   |                                 | $      | – |                           |   |   | 6,539 |   |   |   |   |   |
|   Wetmore      II, Building B, San Antonio, TX           |   |               | 55,000    |   |                                 |   | 10      |                           |   |   | 3,643 |   |   |   |   |   |
|   Beltway      Crossing VI, Houston, TX                  |   |               | 128,000   |   |                                 |   | 149     |                           |   |   | 5,756 |   |   |   |   |   |
|   World      Houston 28, Houston, TX                     |   |               | 59,000    |   |                                 |   | 1,850   |                           |   |   | 4,230 |   |   |   |   |   |
|   Oak      Creek VI,  Tampa, FL                |   |               | 89,000    |   |                                 |   | 55      |                           |   |   | 5,642 |   |   |   |   |   |
|   Southridge      VIII, Orlando, FL                      |   |               | 91,000    |   |                                 |   | 338     |                           |   |   | 6,339 |   |   |   |   |   |
|   Techway      SW IV, Houston, TX                        |   |               | 94,000    |   |                                 |   | 918     |                           |   |   | 5,761 |   |   |   |   |   |
|   SunCoast      III, Fort Myers, FL                      |   |               | 93,000    |   |                                 |   | 294     |                           |   |   | 7,012 |   |   |   |   |   |
|   Sky      Harbor, Phoenix, AZ                           |   |               | 264,000   |   |                                 |   | 1,046   |                           |   |   | 23,875 |   |   |   |   |   |
|   World      Houston 26, Houston, TX                     |   |               | 59,000    |   |                                 |   | 661     |                           |   |   | 3,479 |   |   |   |   |   |
|   World      Houston 29, Houston, TX                     |   |               | 70,000    |   |                                 |   | 2,900   |                           |   |   | 4,786 |   |   |   |   |   |
|   12th      Street Distribution Center, Jacksonville, FL |   |               | 150,000   |   |                                 |   | 321     |                           |   |   | 5,171 |   |   |   |   |   |
| Total      Transferred to Real Estate Properties                   |   |               | 1,242,000 |   |                                 | $      | 8,542   |                           |   |   | 82,233 |  (2) |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Years      Ended December 31,                 |    |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|---------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2009                                          |    |   | 2008   |   |   | Increase(Decrease) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | (In      thousands, except rates of interest) |    |
| Average bank      borrowings                                                                                               |   | $                                             | 107,341 |   |   |   | 125,647 |   |   |   | (18,306 | ) |
| Weighted      average variable interest rates (excluding      loan cost amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                          | 1.48    | %      |   |   | 3.94 | % |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| VARIABLE      RATE INTEREST EXPENSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                          |    |   |   |   |   |   |   |   |   |   |
| Variable rate interest      (excluding      loan cost amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                          | 1,589   |   |   |   | 4,944 |   |   |   | (3,355 | ) |
| Amortization of bank loan      costs                                                                                       |   |                                          | 297     |   |   |   | 295 |   |   |   | 2 |   |
| Total variable rate interest      expense                                                                                  |   |                                          | 1,886   |   |   |   | 5,239 |   |   |   | (3,353 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| FIXED      RATE INTEREST EXPENSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                          |    |   |   |   |   |   |   |   |   |   |
| Fixed rate interest (excluding      loan cost amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                          | 35,755  |   |   |   | 31,219 |   |   |   | 4,536 |   |
| Amortization of mortgage loan      costs                                                                                   |   |                                          | 735     |   |   |   | 680 |   |   |   | 55 |   |
| Total fixed rate interest      expense                                                                                     |   |                                          | 36,490  |   |   |   | 31,899 |   |   |   | 4,591 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| Total      interest                                                                                                        |   |                                          | 38,376  |   |   |   | 37,138 |   |   |   | 1,238 |   |
| Less      capitalized      interest                                                                                        |   |                                          | (5,856  | )      |   |   | (6,946 | ) |   |   | 1,090 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| TOTAL INTEREST      EXPENSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                                             | 32,520  |   |   |   | 30,192 |   |   |   | 2,328 |   |

|  MORTGAGE      DEBT AS OF:                                                                                                                                                                                                                                                                                                                                        |   | Weighted      Average Interest Rate |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|--------|
| December 31,      2005                                                         |   |                                | 6.31   | % |
| December 31,      2006                                                         |   |                                | 6.21   | % |
| December 31,      2007                                                         |   |                                | 6.06   | % |
| December 31,      2008                                                         |   |                                | 5.96   | % |
| December 31,      2009                                                         |   |                                | 6.09   | % |

----

| NEW      MORTGAGES IN 2008 AND 2009                                                                                                                                                                                                                                                                                                                                                                                               |   | Interest      Rate |   | Date   | Maturity      Date |     | Amount |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------------------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |   |   |               |     |   |   |
| Beltway      II, III & IV, Commerce Park 1, Eastlake,  Fairgrounds      I-IV, Nations Ford I-IV, Techway  Southwest      III,  Wetmore I-IV and  World      Houston 15 & 22                                                                                                                                                                                                  |   |               | 5.500  | %      | 03/19/08           | 04/05/15 |   | $      | 78,000,000 |   |
| Southridge      XII, Airport Commerce Center I & II,   Interchange      Park, Ridge Creek III, World Houston   24,      25 & 27 and Waterford Distribution Center                                                                                                                                                                                                                           |   |               | 5.750  | %      | 12/09/08           | 01/05/14 |   |   | 59,000,000 |   |
| Tower      Automotive Center (1)                                                                                 |   |               | 6.030  | %      | 01/02/09           | 01/15/11 |   |   | 9,365,000 |   |
| Dominguez,      Kingsview, Walnut, Washington,   Industry      I & III and Shaw                                                                                                                                                                                                                                                                                                                           |   |               | 7.500  | %      | 05/05/09           | 05/05/19 |   |   | 67,000,000 |   |
|   Weighted      Average/Total      Amount                                                              |   |               | 6.220  | %      |               |     |   | $      | 213,365,000 |   |

| (1)   | The      Company repaid the previous mortgage note on the Tower Automotive Center      and replaced it with this new mortgage note for the same      amount.  See the table below for details on the previous      mortgage. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| MORTGAGE      LOANS REPAID IN 2009                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Interest      Rate | Date      Repaid |   | Payoff      Amount |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|------------------|--------|--------------------|--------|
| Tower      Automotive Center (1)                                                                                                                                               |   |               | 8.020            | %      | 01/02/09           |   | $ | 9,365,000 |   |
| Dominguez,      Kingsview, Walnut, Washington, Industry   Distribution      Center I and      Shaw                                                              |   |               | 6.800            | %      | 02/13/09           |   |   | 31,357,000 |   |
| Oak      Creek      I                                                                                                                                                          |   |               | 8.875            | %      | 06/01/09           |   |   | 205,000 |   |
|   Weighted      Average/Total      Amount                                                                                                                            |   |               | 7.090            | %      |               |   | $ | 40,927,000 |   |

| (1)   | The      Tower Automotive Center mortgage was repaid and replaced with another      mortgage note payable for the same amount.  See the new mortgage      detailed in the new mortgages tableabove. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                   |                      |   | Years      Ended December 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------|--------|-------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                   | EstimatedUseful      Life |   | 2009                          |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                   |                      |   | (In      thousands)           |   |
| Upgrade      on      Acquisitions                                                           | 40      yrs               |   | $                             | 68     |   |   |   | 63 |   |
| Tenant      Improvements:                                                                                                                                                                                                                                                                                                              |                      |   |                          |   |   |   |   |   |   |
|    New      Tenants                                                          | Lease      Life           |   |                          | 7,591  |   |   |   | 7,554 |   |
|    New      Tenants (first      generation)(1)                                                                                                                                                                                                                                                                          | Lease      Life           |   |                          | 760    |   |   |   | 244 |   |
|    Renewal      Tenants                                                      | Lease      Life           |   |                          | 1,099  |   |   |   | 1,504 |   |
| Other:                                                                                                                                                                                                                                                                                                                                 |                      |   |                          |   |   |   |   |   |   |
|    Building      Improvements                                                | 5-40      yrs             |   |                          | 2,726  |   |   |   | 2,685 |   |
|    Roofs                                                                     | 5-15      yrs             |   |                          | 2,987  |   |   |   | 1,874 |   |
|    Parking      Lots                                                         | 3-5      yrs              |   |                          | 603    |   |   |   | 907 |   |
|    Other                                                                     | 5      yrs                |   |                          | 378    |   |   |   | 379 |   |
|       Total      capital expenditures                                                                                                                                                                                                                                                                    |                      |   | $                             | 16,212 |   |   |   | 15,210 |   |

----

|                                                                                                                                                                                                                                                                                                           |                      |   | Years      Ended December 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------|--------|-------------------------------|--------|
|                                                                                                                                                                                                                                                                                                           | EstimatedUseful      Life |   | 2009                          |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                           |                      |   | (In      thousands)           |   |
| Development                                                         | Lease      Life           |   | $                             | 1,675  |   |   |   | 3,115 |   |
| New      Tenants                                                    | Lease      Life           |   |                          | 2,620  |   |   |   | 2,370 |   |
| New      Tenants (first      generation)(1)                                                                                                                                                                                                                                                                    | Lease      Life           |   |                          | 74     |   |   |   | 58 |   |
| Renewal      Tenants                                                | Lease      Life           |   |                          | 2,618  |   |   |   | 2,626 |   |
|       Total      capitalized leasing costs                                                                                                                                                                                                                                       |                      |   | $                             | 6,987  |   |   |   | 8,169 |   |
|                                                                                                                                                                                                                                                                                                           |                      |   |                          |   |   |   |   |   |   |
| Amortization      of leasing costs (2)                                                                                                                                                                                                                                                                         |                      |   | $                             | 6,366  |   |   |   | 5,882 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Years      Ended December 31, |    |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|---------|
| Discontinued      Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009                          |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | (In      thousands)           |    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                          |    |   |   |   |
| Income from real estate      operations                                                                                                                |   | $                             | – |   |   |   | 348 |   |
| Expenses from real estate      operations                                                                                                              |   |                          | (88     | ) |   |   | (190 | ) |
|     Property      net operating income (loss) from discontinued      operations                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                          | (88     | ) |   |   | 158 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                          |    |   |   |   |   |   |
| Depreciation and      amortization                                                                                                                     |   |                          | (51     | ) |   |   | (148 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                          |    |   |   |   |   |   |
| Income (loss) from real estate      operations                                                                                                         |   |                          | (139    | ) |   |   | 10 |   |
|     Gain on      sales of real estate      investments                                                                             |   |                          | 29      |   |   |   | 2,032 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                          |    |   |   |   |   |   |
| Income (loss) from discontinued      operations                                                                                                        |   | $                             | (110    | ) |   |   | 2,042 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Years      Ended December 31,                 |    |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|---------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2008                                          |    |   | 2007   |   |   | Increase(Decrease) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | (In      thousands, except rates of interest) |    |
| Average bank      borrowings                                                                                               |   | $                                             | 125,647 |   |   |   | 96,513 |   |   |   | 29,134 |   |
| Weighted      average variable interest rates (excluding      loan cost amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                          | 3.94    | %      |   |   | 6.36 | % |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| VARIABLE      RATE INTEREST EXPENSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                          |    |   |   |   |   |   |   |   |   |   |
| Variable rate interest      (excluding      loan cost amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                          | 4,944   |   |   |   | 6,139 |   |   |   | (1,195 | ) |
| Amortization of bank loan      costs                                                                                       |   |                                          | 295     |   |   |   | 353 |   |   |   | (58 | ) |
| Total variable rate interest      expense                                                                                  |   |                                          | 5,239   |   |   |   | 6,492 |   |   |   | (1,253 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| FIXED      RATE INTEREST EXPENSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                          |    |   |   |   |   |   |   |   |   |   |
| Fixed rate interest (excluding      loan cost amortization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                          | 31,219  |   |   |   | 26,350 |   |   |   | 4,869 |   |
| Amortization of mortgage loan      costs                                                                                   |   |                                          | 680     |   |   |   | 558 |   |   |   | 122 |   |
| Total fixed rate interest      expense                                                                                     |   |                                          | 31,899  |   |   |   | 26,908 |   |   |   | 4,991 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| Total      interest                                                                                                        |   |                                          | 37,138  |   |   |   | 33,400 |   |   |   | 3,738 |   |
| Less      capitalized      interest                                                                                        |   |                                          | (6,946  | )      |   |   | (6,086 | ) |   |   | (860 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                          |    |   |   |   |   |   |   |   |   |   |
| TOTAL INTEREST      EXPENSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                                             | 30,192  |   |   |   | 27,314 |   |   |   | 2,878 |   |

|  MORTGAGE      DEBT AS OF:                                                                                                                                                                                                                                                                                                                                        |   | Weighted      Average Interest Rate |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|--------|
| December 31,      2004                                                         |   |                                | 6.74   | % |
| December 31,      2005                                                         |   |                                | 6.31   | % |
| December 31,      2006                                                         |   |                                | 6.21   | % |
| December 31,      2007                                                         |   |                                | 6.06   | % |
| December 31,      2008                                                         |   |                                | 5.96   | % |

| NEW      MORTGAGES IN 2007 AND 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Interest      Rate |   | Date   | Maturity      Date |     | Amount |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------------------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |               |   |   |               |     |   |   |
| Broadway      VI, World Houston 1 & 2, 21 & 23, Arion 16,  Chino,      Northpark I-IV, South 55th      Avenue, East  University      I & II and Santan 10      II                                                                                             |   |               | 5.570  | %      | 08/08/07           | 09/15/17 |   | $      | 75,000,000 |   |
| Beltway      II, III & IV, Commerce Park 1, Eastlake,  Fairgrounds      I-IV, Nations Ford I-IV, Techway  Southwest      III,  Wetmore I-IV and  World      Houston 15 &      22                                                              |   |               | 5.500  | %      | 03/19/08           | 04/05/15 |   |   | 78,000,000 |   |
| Southridge      XII, Airport Commerce Center I & II,   Interchange      Park, Ridge Creek III, World Houston   24,      25 & 27 and Waterford Distribution Center                                                                                                                                                                                                                                                                                                                                                                                                        |   |               | 5.750  | %      | 12/09/08           | 01/05/14 |   |   | 59,000,000 |   |
|   Weighted      Average/Total      Amount                                                                                                                                                                                                                                           |   |               | 5.594  | %      |               |     |   | $      | 212,000,000 |   |

| MORTGAGE      LOANS REPAID IN 2007                                                                                                                                                                                                                                                                                                                                                                                                |   | Interest      Rate | Date      Repaid |   | Payoff      Amount |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|------------------|--------|--------------------|--------|
| World      Houston 1 &      2                                                                                |   |               | 7.770            | %      | 04/12/07           |   | $ | 4,023,000 |   |
| E.      University I & II, Broadway VI, 55th      Avenue and Chino                                                                                                                                                                                                                                                                                                                                                       |   |               | 8.060            | %      | 05/25/07           |   |   | 10,197,000 |   |
|   Weighted      Average/Total      Amount                                                              |   |               | 7.978            | %      |               |   | $ | 14,220,000 |   |

----

|                                                                                                                                                                                                                                                                                                                                   |                      |   | Years      Ended December 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------|--------|-------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                   | EstimatedUseful      Life |   | 2008                          |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                   |                      |   | (In      thousands)           |   |
| Upgrade      on      Acquisitions                                                           | 40      yrs               |   | $                             | 63     |   |   |   | 141 |   |
| Tenant      Improvements:                                                                                                                                                                                                                                                                                                              |                      |   |                          |   |   |   |   |   |   |
|    New      Tenants                                                          | Lease      Life           |   |                          | 7,554  |   |   |   | 7,326 |   |
|    New      Tenants (first      generation)(1)                                                                                                                                                                                                                                                                          | Lease      Life           |   |                          | 244    |   |   |   | 495 |   |
|    Renewal      Tenants                                                      | Lease      Life           |   |                          | 1,504  |   |   |   | 1,963 |   |
| Other:                                                                                                                                                                                                                                                                                                                                 |                      |   |                          |   |   |   |   |   |   |
|    Building      Improvements                                                | 5-40      yrs             |   |                          | 2,685  |   |   |   | 1,719 |   |
|    Roofs                                                                     | 5-15      yrs             |   |                          | 1,874  |   |   |   | 3,273 |   |
|    Parking      Lots                                                         | 3-5      yrs              |   |                          | 907    |   |   |   | 765 |   |
|    Other                                                                     | 5      yrs                |   |                          | 379    |   |   |   | 199 |   |
|       Total      capital expenditures                                                                                                                                                                                                                                                                    |                      |   | $                             | 15,210 |   |   |   | 15,881 |   |

|                                                                                                                                                                                                                                                                                                           |                      |   | Years      Ended December 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------|--------|-------------------------------|--------|
|                                                                                                                                                                                                                                                                                                           | EstimatedUseful      Life |   | 2008                          |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                           |                      |   | (In      thousands)           |   |
| Development                                                         | Lease      Life           |   | $                             | 3,115  |   |   |   | 3,108 |   |
| New      Tenants                                                    | Lease      Life           |   |                          | 2,370  |   |   |   | 2,805 |   |
| New      Tenants (first      generation)(1)                                                                                                                                                                                                                                                                    | Lease      Life           |   |                          | 58     |   |   |   | 212 |   |
| Renewal      Tenants                                                | Lease      Life           |   |                          | 2,626  |   |   |   | 2,124 |   |
|       Total      capitalized leasing costs                                                                                                                                                                                                                                       |                      |   | $                             | 8,169  |   |   |   | 8,249 |   |
|                                                                                                                                                                                                                                                                                                           |                      |   |                          |   |   |   |   |   |   |
| Amortization      of leasing costs (2)                                                                                                                                                                                                                                                                         |                      |   | $                             | 5,882  |   |   |   | 5,339 |   |

----

|                                                                                    |   | Years      Ended December 31, |   |
|-----------------------------------------------------------------------------------------|--------|-------------------------------|--------|
| Discontinued      Operations                                                            |   | 2008                          |   |   | 2007 |   |
|                                                                                    |   | (In      thousands)           |   |
|                                                                                    |   |                          |   |   |   |   |
| Income from real estate      operations                                            |   | $                             | 348    |   |   |   | 932 |   |
| Expenses from real estate      operations                                          |   |                          | (190   | ) |   |   | (368 | ) |
|     Property      net operating income from discontinued operations |   |                          | 158    |   |   |   | 564 |   |
|                                                                                    |   |                          |   |   |   |   |   |   |
| Depreciation and      amortization                                                 |   |                          | (148   | ) |   |   | (414 | ) |
|                                                                                    |   |                          |   |   |   |   |   |   |
| Income from real estate      operations                                            |   |                          | 10     |   |   |   | 150 |   |
|     Gain on      sales of real estate investments              |   |                          | 2,032  |   |   |   | 960 |   |
|                                                                                    |   |                          |   |   |   |   |   |   |
| Income from discontinued      operations                                           |   | $                             | 2,042  |   |   |   | 1,110 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                  |   | December      31,   |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                  |   | 2009                |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                  |   | (In      thousands) |    |
|                                                                                                                                                                                                                                                                                                                                                                  |   |                |    |   |   |   |
| Mortgage      notes payable – fixed rate                                                                                                                                                                                                                                                                                                                        |   | $                   | 602,949 |   |   |   | 585,806 |   |
| Bank      notes payable – floating rate                                                                                                                                                                                                                                                                                                                         |   |                | 89,156  |   |   |   | 109,886 |   |
|    Total      debt                                                       |   | $                   | 692,105 |   |   |   | 695,692 |   |

----

|                                                                                                                                                                                                                                                                           |   | Payments      Due by Period |    |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|---------|
|                                                                                                                                                                                                                                                                           |   | Total                       |    |   | Less      Than1      Year |   |   | 1-3      Years |   |   | 3-5      Years |   |   | More      Than5      Years |   |
|                                                                                                                                                                                                                                                                           |   | (In      thousands)         |    |
|                                                                                                                                                                                                                                                                           |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      Rate Debt Obligations (1)                                                                                                                                                                                                                                           |   | $                           | 602,949 |   |   |   | 19,744 |   |   |   | 150,603 |   |   |   | 146,989 |   |   |   | 285,613 |   |
| Interest      on Fixed Rate Debt                                                                                                                                                                                                                                               |   |                        | 175,508 |   |   |   | 36,166 |   |   |   | 59,821 |   |   |   | 43,155 |   |   |   | 36,366 |   |
| Variable      Rate Debt Obligations (2)                                                                                                                                                                                                                                        |   |                        | 89,156  |   |   |   | – |   |   |   | 89,156 |   |   |   | – |   |   |   | – |   |
| Operating      Lease Obligations:                                                                                                                                                                                                                                              |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Office      Leases                                        |   |                        | 1,354   |   |   |   | 353 |   |   |   | 710 |   |   |   | 291 |   |   |   | – |   |
|    Ground      Leases                                        |   |                        | 18,104  |   |   |   | 700 |   |   |   | 1,400 |   |   |   | 1,400 |   |   |   | 14,604 |   |
| Real      Estate Property Obligations (3)                                                                                                                                                                                                                                      |   |                        | 218     |   |   |   | 218 |   |   |   | – |   |   |   | – |   |   |   | – |   |
| Development      Obligations (4)                                                                                                                                                                                                                                               |   |                        | 116     |   |   |   | 116 |   |   |   | – |   |   |   | – |   |   |   | – |   |
| Tenant      Improvements (5)                                                                                                                                                                                                                                                   |   |                        | 4,167   |   |   |   | 4,167 |   |   |   | – |   |   |   | – |   |   |   | – |   |
| Purchase      Obligations (6)                                                                                                                                                                                                                                                  |   |                        | – |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | – |   |
|    Total                                                     |   | $                           | 891,572 |   |   |   | 61,464 |   |   |   | 301,690 |   |   |   | 191,835 |   |   |   | 336,583 |   |

| (1)   | These      amounts are included on the Consolidated Balance  Sheets. |
|-----------------|----------------------------------------------------------------------|

| (2)   | The      Company’s variable rate debt changes depending on the Company’s cash needs      and, as such, both the principal amounts and the interest rates are      subject to variability.  At December 31, 2009, the weighted      average interest rate was 1.09% on the variable rate debt due in January      2012. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | Represents      commitments on real estate properties, except for tenant improvement      obligations. |
|-----------------|--------------------------------------------------------------------------------------------------------|

| (4)   | Represents      commitments on properties under development, except for tenant improvement      obligations. |
|-----------------|--------------------------------------------------------------------------------------------------------------|

| (5)   | Represents      tenant improvement allowanceobligations. |
|-----------------|----------------------------------------------------------|

| (6)   | EastGroup      had no purchase obligations as of December 31,  2009. |
|-----------------|----------------------------------------------------------------------|

----

|                                              |   | 2010   |    |   | 2011   |   |    | 2012   |   |   | 2013   |      |   | 2014   |    |   | Thereafter |   |          | Total  |   |   | Fair      Value |   |
|---------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|--------|-----------|--------|--------|---------|--------|------------|--------|---------------|--------|--------|--------|-----------------|--------|
| Fixed      rate debt (1) (in      thousands) |   | $      | 19,744  |   |   |   | 86,663  |   |   |   | 63,940 |      |   |   | 55,197  |   |       |   | 91,792        |   |   |   | 285,613         |   |   |   | 602,949 |   |   |   | 610,252 | (2) |
| Weighted      average interest rate               |   |   | 6.02    | %      |   |   | 7.01    | %      |   |   | 6.64   | %         |   |   | 5.15    | %      |       |   | 5.75          | %      |   |   | 5.98            | %      |   |   | 6.09 | % |   |   |   |   |
| Variable      rate debt (in      thousands)       |   | $      | – |   |   |   | – |   |   |   | 89,156 |  (3) |   |   | – |   |       |   | –       |   |   |   | –         |   |   |   | 89,156 |   |   |   | 84,627 | (4) |
| Weighted      average interest rate               |   |   | – |   |   |   | – |   |   |   | 1.09   | %         |   |   | – |   |       |   |  – |   |   |   | –         |   |   |   | 1.09 | % |   |   |   |   |

| (1)   | The      fixed rate debt shown above includes the Tower Automotive      mortgage.  See below for additional information on the Tower      mortgage. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | The      fair value of the Company’s fixed rate debt is estimated based on the      quoted market prices for similar issues or by discounting expected cash      flows at the rates currently offered to the Company for debt of the same      remaining maturities, as advised by the Company’s bankers. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | The      variable rate debt is comprised of two lines of credit with balances of      $86,000,000 on the $200 million line of credit and $3,156,000 on the $25      million working capital line of credit as of December 31,      2009.  The $200 million line of credit has an option for a      one-year extension at the Company’srequest. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)   | The      fair value of the Company’s variable rate debt is estimated by discounting      expected cash flows at current marketrates. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------|

|  Type      of Hedge |   | Current      Notional Amount |   |  Maturity      Date |  Reference      Rate |               | Fixed      Interest Rate |   |   | Effective Interest      Rate |   |   | Fair      Valueat      12/31/09 |   |   | Fair      Valueat      12/31/08 |   |
|--------------------------|--------|------------------------------|--------|--------------------------|---------------------------|--------------------|--------------------------|--------|--------|-----------------------------------|--------|--------|---------------------------------|--------|--------|---------------------------------|--------|
|                     |   | (In      thousands)          |   |                     |                      |               |                     |   |   |                              |   |   | (In      thousands)             |   |
| Swap                     |   | $                            | 9,175  |                     | 12/31/10                  | 1      month LIBOR |                     |   | 4.03   | %                                 |   |   | 6.03                            | %      |   | $                               | (318   | ) |   | $ | (522 | ) |

----

| (a)   | Management's      annual report on internal control over financial  reporting. |
|-----------------|--------------------------------------------------------------------------------|

----

| Equity      Compensation Plan Information                                                                               |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                    |   | (a) |   |   | (b) |   |   | (c) |   |
| Plan      category                                                                                                      |   | Number      of securities to be issued upon exercise of outstanding options, warrants      and rights |   |   | Weighted-average      exercise price of outstanding options, warrants and rights |   |   | Number      of securities remaining available for future issuance under equity      compensation plans (excluding securities reflected in column      (a)) |   |
| Equity      compensation    plans      approved by    security      holders     |   |   |  36,250 |   |   | $ |  23.41 |   |   |   |  1,627,647 |   |
| Equity      compensation    plans      not approved    by      security holders |   |   |  – |   |   |   |  – |   |   |   |  – |   |
| Total                                                                                                                   |   |   | 36,250 |   |   | $ | 23.41 |   |   |   | 1,627,647 |   |

----

|   |   |                                                                                                        | Page   |
|--------|--------|-------------------------------------------------------------------------------------------------------------|--------|
| (a)    | (1)    | Consolidated      Financial Statements:                                                                     |   |
|   |   | Report      of Independent Registered Public Accounting Firm                                                | 31     |
|   |   | Management      Report on Internal Control Over Financial Reporting                                         | 32     |
|   |   | Report      of Independent Registered Public Accounting Firm                                                | 32     |
|   |   | Consolidated      Balance Sheets – December 31, 2009 and 2008                                         | 33     |
|   |   | Consolidated      Statements of Income – Years ended December 31, 2009, 2008 and      2007            | 34     |
|   |   | Consolidated      Statements of Changes in Equity – Years ended December 31, 2009, 2008 and      2007 | 35     |
|   |   | Consolidated      Statements of Cash Flows – Years ended December 31, 2009, 2008 and      2007        | 36     |
|   |   | Notes      to Consolidated Financial Statements                                                             | 37     |
|   |   |                                                                                                        |   |
|   | (2)    | Consolidated      Financial Statement Schedules:                                                            |   |
|   |   | Schedule      III – Real Estate Properties and Accumulated Depreciation                               | 55     |
|   |   | Schedule      IV – Mortgage Loans on Real Estate                                                      | 62     |

| (3)    | Exhibits      required by Item 601 of RegulationS-K: |
|-----------------------|------------------------------------------------------|

|   | (3) | Articles      of Incorporation and Bylaws |
|--------|-----|-------------------------------------------|

| (a)   | Articles      of Incorporation (incorporated by reference to Appendix B to the Company's      Proxy Statement for its Annual Meeting of Stockholders held on June 5,      1997). |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Bylaws      of the Company (incorporated by reference to Exhibit 3.1 to the Company’s      Form 8-K filed December 10, 2008). |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (10) | Material      Contracts (*Indicates management or compensatory    agreement): |
|--------|------|-------------------------------------------------------------------------------|

| (a)   | EastGroup      Properties, Inc. 1994 Management Incentive Plan, as Amended and Restated      (incorporated by reference to Appendix A to the Company's Proxy Statement      for its Annual Meeting of Stockholders held on June 2,    1999).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Amendment      No. 1 to the Amended and Restated 1994 Management Incentive Plan      (incorporated by reference to Exhibit 10(c) to the Company’s Form 8-K      filed January 8, 2007).* |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | EastGroup      Properties, Inc. 2000 Directors Stock Option Plan (incorporated by      reference to Appendix A to the Company's Proxy Statement for its Annual      Meeting of Stockholders held on June 1,2000).* |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | EastGroup      Properties, Inc. 2004 Equity Incentive Plan (incorporated by reference to      Appendix D to the Company's Proxy Statement for its Annual Meeting of      Stockholders held on May 27,2004).* |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Amendment      No. 1 to the 2004 Equity Incentive Plan (incorporated by reference to      Exhibit 10(f) to the Company’s Form 10-K for the year ended December 31,      2006). * |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | Amendment      No. 2 to the 2004 Equity Incentive Plan (incorporated by reference to      Exhibit 10(d) to the Company’s Form 8-K filed January 8,      2007).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g)   | EastGroup      Properties, Inc. 2005 Directors Equity Incentive Plan (incorporated by      reference to Appendix B to the Company’s Proxy Statement for its Annual      Meeting of Stockholders held on June 2,2005).* |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | Amendment      No. 1 to the 2005 Directors Equity Incentive Plan (incorporated by      reference to Exhibit 10.1 to the Company’s Form 8-K filed June 6,      2006).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | Amendment      No. 2 to the 2005 Directors Equity Incentive Plan (incorporated by      reference to Exhibit 10.1 to the Company’s Form 8-K filed June 3,      2008).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j)   | Form      of Severance and Change in Control Agreement that the Company has entered      into with Leland R. Speed, David H. Hoster II and N. Keith McKey      (incorporated by reference to Exhibit 10(a) to the Company's Form 8-K      filed January 7, 2009).* |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (k)   | Form      of Severance and Change in Control Agreement that the Company has entered      into with John F. Coleman, William D. Petsas, Brent W. Wood and C. Bruce      Corkern (incorporated by reference to Exhibit 10(b) to the Company's Form      8-K filed January 7, 2009).* |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (l)   | Compensation      Program for Non-Employee Directors (a written description thereof is set      forth in Item 5.02 of the Company’s Form 8-K filed June 3,      2008).* |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | Annual      Cash Bonus, 2009 Annual Long-Term Equity Incentive and Supplemental Annual      Long-Term Equity Incentive Performance Goals (a written description      thereof is set forth in Item 5.02 of the Company’s Form 8-K filed June 2,      2009).* |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (n)   | Second      Amended and Restated Credit Agreement Dated January 4, 2008 among      EastGroup Properties, L.P.; EastGroup Properties, Inc.; PNC Bank, National      Association, as Administrative Agent; Regions Bank and SunTrust Bank as      Co-Syndication Agents; Wells Fargo Bank, National Association as      Documentation Agent; and PNC Capital Markets LLC, as Sole Lead Arranger      and Sole Bookrunner; and the Lenders thereunder (incorporated by reference      to Exhibit 10.1 to the Company's Form 8-K filed January 10,      2008). |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (21) | Subsidiaries      of EastGroup Properties, Inc. (filedherewith). |
|------|------------------------------------------------------------------|

| (23) | Consent      of KPMG LLP (filed herewith). |
|------|--------------------------------------------|

| (24) | Powers      of attorney (filed herewith). |
|------|-------------------------------------------|

|   | (31) | Rule      13a-14(a)/15d-14(a) Certifications (pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002) |
|--------|------|---------------------------------------------------------------------------------------------------------------|

|   | (32) | Section      1350 Certifications (pursuant to Section 906 of the Sarbanes-Oxley Act of      2002) |
|--------|------|---------------------------------------------------------------------------------------------------|

| (a)   | David      H. Hoster II, Chief ExecutiveOfficer |
|-----------------|-------------------------------------------------|

----

|                        | /s/      KPMG LLP |
|-----------------------------|-------------------|
| Jackson,      Mississippi   |              |
| February      26,      2010 |              |

----

|                        | /s/      EASTGROUP PROPERTIES, INC.  |
|-----------------------------|-------------------------------------------|
| Jackson,      Mississippi   |                                      |
| February      26,      2010 |                                      |

|                        | /s/      KPMG LLP |
|-----------------------------|-------------------|
| Jackson,      Mississippi   |              |
| February      26,      2010 |              |

----

|                                                                                                                                                                                                                                            |   | December      31,                                        |      |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------|-----------|
|                                                                                                                                                                                                                                            |   | 2009                                                     |      |   | 2008 |   |
|                                                                                                                                                                                                                                            |   | (In      thousands, except for share and per share data) |      |
| ASSETS                                                                                                                                                                                                                                          |   |                                                     |      |   |   |   |
|   Real estate      properties                                                                                                                                                                                                    |   | $                                                        | 1,370,588 |   |   |   | 1,252,282 |   |
|   Development                                                                                                                                                                                                                    |   |                                                     | 97,594    |   |   |   | 150,354 |   |
|                                                                                                                                                                                                                                            |   |                                                     | 1,468,182 |   |   |   | 1,402,636 |   |
|       Less      accumulated depreciation                                                                                                                                                                     |   |                                                     | (354,745  | ) |   |   | (310,351 | ) |
|                                                                                                                                                                                                                                            |   |                                                     | 1,113,437 |   |   |   | 1,092,285 |   |
|                                                                                                                                                                                                                                            |   |                                                     |      |   |   |   |   |   |
|   Unconsolidated      investment                                                                                                                                                                                                 |   |                                                     | 2,725     |   |   |   | 2,666 |   |
|   Cash                                                                                                                                                                                                                           |   |                                                     | 1,062     |   |   |   | 293 |   |
|   Other      assets                                                                                                                                                                                                              |   |                                                     | 61,294    |   |   |   | 60,961 |   |
|       TOTAL      ASSETS                                                                                                                                                                                      |   | $                                                        | 1,178,518 |   |   |   | 1,156,205 |   |
|                                                                                                                                                                                                                                            |   |                                                     |      |   |   |   |   |   |
| LIABILITIES      AND EQUITY                                                                                                                                                                                                                     |   |                                                     |      |   |   |   |   |   |
|                                                                                                                                                                                                                                            |   |                                                     |      |   |   |   |   |   |
| LIABILITIES                                                                                                                                                                                                                                     |   |                                                     |      |   |   |   |   |   |
|   Mortgage notes      payable                                                                                                                                                                                                    |   | $                                                        | 602,949   |   |   |   | 585,806 |   |
|   Notes payable to      banks                                                                                                                                                                                                    |   |                                                     | 89,156    |   |   |   | 109,886 |   |
|   Accounts payable and      accrued expenses                                                                                                                                                                                     |   |                                                     | 23,602    |   |   |   | 32,838 |   |
|   Other      liabilities                                                                                                                                                                                                         |   |                                                     | 15,715    |   |   |   | 14,299 |   |
|      Total      Liabilities                                                                                                                                                                                            |   |                                                     | 731,422   |   |   |   | 742,829 |   |
|                                                                                                                                                                                                                                            |   |                                                     |      |   |   |   |   |   |
| EQUITY                                                                                                                                                                                                                                          |   |                                                     |      |   |   |   |   |   |
| Stockholders’      Equity:                                                                                                                                                                                                                |   |                                                     |      |   |   |   |   |   |
|   Common      shares; $.0001 par value; 70,000,000 shares authorized;    26,826,100      shares issued and outstanding at December 31, 2009 and    25,070,401      at December 31, 2008  |   |                                                     | 3         |   |   |   | 3 |   |
|   Excess      shares; $.0001 par value; 30,000,000 shares authorized;    no      shares issued                                                                                                                    |   |                                                     | –   |   |   |   | – |   |
|   Additional paid-in      capital on common shares                                                                                                                                                                               |   |                                                     | 589,197   |   |   |   | 528,452 |   |
|   Distributions in      excess of earnings                                                                                                                                                                                       |   |                                                     | (144,363  | ) |   |   | (117,093 | ) |
|   Accumulated other      comprehensive loss                                                                                                                                                                                      |   |                                                     | (318      | ) |   |   | (522 | ) |
|      Total      Stockholders’ Equity                                                                                                                                                                             |   |                                                     | 444,519   |   |   |   | 410,840 |   |
| Noncontrolling      interest in joint ventures                                                                                                                                                                                                  |   |                                                     | 2,577     |   |   |   | 2,536 |   |
|      Total      Equity                                                                                                                                                                                                 |   |                                                     | 447,096   |   |   |   | 413,376 |   |
|       TOTAL      LIABILITIES AND EQUITY                                                                                                                                                                      |   | $                                                        | 1,178,518 |   |   |   | 1,156,205 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Years      Ended December 31,                    |    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009                                             |    |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |  (In thousands, except per share      data) |    |
| REVENUES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                             |    |   |   |   |   |   |   |
|   Income from real      estate      operations                                                                                                                           |   | $                                                | 172,273 |   |   |   | 168,255 |   |   |   | 150,038 |   |
|   Other      income                                                                                                                                                      |   |                                             | 81      |   |   |   | 248 |   |   |   | 92 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             | 172,354 |   |   |   | 168,503 |   |   |   | 150,130 |   |
| EXPENSES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Expenses from real      estate      operations                                                                                                                         |   |                                             | 50,259  |   |   |   | 47,259 |   |   |   | 40,837 |   |
|   Depreciation and      amortization                                                                                                                                     |   |                                             | 53,953  |   |   |   | 51,144 |   |   |   | 47,644 |   |
|   General and      administrative                                                                                                                                        |   |                                             | 9,071   |   |   |   | 8,547 |   |   |   | 8,295 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             | 113,283 |   |   |   | 106,950 |   |   |   | 96,776 |   |
| OPERATING      INCOME                                                                                                                                                              |   |                                             | 59,071  |   |   |   | 61,553 |   |   |   | 53,354 |   |
| OTHER      INCOME (EXPENSE)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Equity in earnings of      unconsolidated      investment                                                                                                              |   |                                             | 320     |   |   |   | 316 |   |   |   | 285 |   |
|   Gain on sales of      non-operating real      estate                                                                                                                   |   |                                             | 31      |   |   |   | 321 |   |   |   | 2,602 |   |
|   Gain on sales of      securities                                                                                                                                       |   |                                             | – |   |   |   | 435 |   |   |   | – |   |
|   Interest      income                                                                                                                                                   |   |                                             | 302     |   |   |   | 293 |   |   |   | 306 |   |
|   Interest      expense                                                                                                                                                  |   |                                             | (32,520 | ) |   |   | (30,192 | ) |   |   | (27,314 | ) |
| INCOME FROM CONTINUING      OPERATIONS                                                                                                                                             |   |                                             | 27,204  |   |   |   | 32,726 |   |   |   | 29,233 |   |
| DISCONTINUED      OPERATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Income      (loss) from real estate      operations                                                                                                                    |   |                                             | (139    | ) |   |   | 10 |   |   |   | 150 |   |
|   Gain      on sales of real estate      investments                                                                                                                     |   |                                             | 29      |   |   |   | 2,032 |   |   |   | 960 |   |
| INCOME (LOSS) FROM DISCONTINUED      OPERATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                             | (110    | ) |   |   | 2,042 |   |   |   | 1,110 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
| NET      INCOME                                                                                                                                                                    |   |                                             | 27,094  |   |   |   | 34,768 |   |   |   | 30,343 |   |
|   Net income      attributable to noncontrolling interest in joint      ventures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                             | (435    | ) |   |   | (626 | ) |   |   | (609 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
| NET INCOME ATTRIBUTABLE TO      EASTGROUP PROPERTIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                             | 26,659  |   |   |   | 34,142 |   |   |   | 29,734 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Dividends      on Series D preferred      shares                                                                                                                       |   |                                             | – |   |   |   | 1,326 |   |   |   | 2,624 |   |
|   Costs on redemption      of Series D preferred      shares                                                                                                             |   |                                             | – |   |   |   | 682 |   |   |   | – |   |
| NET      INCOME AVAILABLE TO EASTGROUP PROPERTIES, INC.  COMMON      STOCKHOLDERS                                                                                        |   | $                                                | 26,659  |   |   |   | 32,134 |   |   |   | 27,110 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
| BASIC      PER COMMON SHARE DATA FOR INCOMEATTRIBUTABLE      TO EASTGROUP PROPERTIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Income from      continuing      operations                                                                                                                            |   | $                                                | 1.04    |   |   |   | 1.23 |   |   |   | 1.10 |   |
|   Income (loss) from      discontinued      operations                                                                                                                   |   |                                             | .00     |   |   |   | .08 |   |   |   | .05 |   |
|   Net income available      to common      stockholders                                                                                                                  |   | $                                                | 1.04    |   |   |   | 1.31 |   |   |   | 1.15 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Weighted average      shares      outstanding                                                                                                                          |   |                                             | 25,590  |   |   |   | 24,503 |   |   |   | 23,562 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
| DILUTED      PER COMMON SHARE DATA FOR INCOMEATTRIBUTABLE      TO EASTGROUP PROPERTIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Income from      continuing      operations                                                                                                                            |   | $                                                | 1.04    |   |   |   | 1.22 |   |   |   | 1.09 |   |
|   Income (loss) from      discontinued      operations                                                                                                                   |   |                                             | .00     |   |   |   | .08 |   |   |   | .05 |   |
|   Net income available      to common      stockholders                                                                                                                  |   | $                                                | 1.04    |   |   |   | 1.30 |   |   |   | 1.14 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Weighted average      shares      outstanding                                                                                                                          |   |                                             | 25,690  |   |   |   | 24,653 |   |   |   | 23,781 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
| AMOUNTS      ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC.COMMON      STOCKHOLDERS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                             |    |   |   |   |   |   |   |   |   |   |
|   Income from      continuing      operations                                                                                                                            |   | $                                                | 26,769  |   |   |   | 30,092 |   |   |   | 26,000 |   |
|   Income (loss) from      discontinued      operations                                                                                                                   |   |                                             | (110    | ) |   |   | 2,042 |   |   |   | 1,110 |   |
|   Net income available      to common      stockholders                                                                                                                  |   | $                                                | 26,659  |   |   |   | 32,134 |   |   |   | 27,110 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Dividends      declared per common      share                                                                                                                                      |   | $                                                | 2.08    |   |   |   | 2.08 |   |   |   | 2.00 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                             |    |   |   |   |   |   |   |   |   |   |
| See      accompanying Notes to Consolidated Financial Statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                             |    |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                |   | EastGroup      Properties, Inc.                                |    |   |   |   |    |       |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------|---------|--------|--------|--------|---------|------------|--------|
|                                                                                                                                                                                                                |   |                                                           |    |   |   |   |    |       |   |   |   |   |   | Accumulated |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                |   |                                                           |    |   |   |   |    | Additional |   |   | Distributions |   |   | Other |   |   | Noncontrolling |   |   |   |   |
|                                                                                                                                                                                                                |   | Preferred                                                      |    |   | Common |   |    | Paid-In    |   |   | In      Excess |   |   | Comprehensive |   |   | Interest      in |   |   |   |   |
|                                                                                                                                                                                                                |   | Stock                                                          |    |   | Stock  |   |    | Capital    |   |   | Of      Earnings |   |   | Income      (Loss) |   |   | Joint      Ventures |   |   | Total |   |
|                                                                                                                                                                                                                |   |  (In thousands, except for share and per share      data) |    |
|                                                                                                                                                                                                                |   |                                                           |    |   |   |   |
| BALANCE,      DECEMBER 31, 2006                                                                                                                                                                                     |   | $                                                              | 32,326  |   |   |   | 2       |       |   |   | 463,170 |   |   |   | (77,015 | ) |   |   | 314 |   |   |   | 2,148 |   |   |   | 420,945 |   |
|   Comprehensive      income                                                                                                                                                                               |   |                                                           |    |   |   |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Net      income                                                                                                                                                                             |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | 29,734 |   |   |   | – |   |   |   | 609 |   |   |   | 30,343 |   |
|     Net      unrealized change in fair value of interest              rate swap                                                                              |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | – |   |   |   | (370 | ) |   |   | – |   |   |   | (370 | ) |
|        Total      comprehensive income                                                                                                                                           |   |                                                           |    |   |   |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 29,973 |   |
|   Common      dividends declared – $2.00 per share                                                                                                                                                  |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | (47,555 | ) |   |   | – |   |   |   | – |   |   |   | (47,555 | ) |
|   Preferred      dividends declared – $1.9876 per share                                                                                                                                             |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | (2,624 | ) |   |   | – |   |   |   | – |   |   |   | (2,624 | ) |
|   Stock-based      compensation, net of forfeitures                                                                                                                                                       |   |                                                           | – |   |   |   | – |       |   |   | 3,198 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 3,198 |   |
|   Issuance      of 67,150 shares of common stock,    options      exercised                                                                                                           |   |                                                           | – |   |   |   | – |       |   |   | 1,475 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 1,475 |   |
|   Issuance      of 6,281 shares of common stock,    dividend      reinvestment plan                                                                                                   |   |                                                           | – |   |   |   | – |       |   |   | 279 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 279 |   |
|   Withheld      11,382 shares of common stock to satisfy    tax withholding      obligations in connection with the         vesting of restricted      stock |   |                                                           | – |   |   |   | – |       |   |   | (549 | ) |   |   | – |   |   |   | – |   |   |   | – |   |   |   | (549 | ) |
|   Distributions      to noncontrolling interest                                                                                                                                                           |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | – |   |   |   | – |   |   |   | (445 | ) |   |   | (445 | ) |
| BALANCE,      DECEMBER 31, 2007                                                                                                                                                                                     |   |                                                           | 32,326  |   |   |   | 2       |       |   |   | 467,573 |   |   |   | (97,460 | ) |   |   | (56 | ) |   |   | 2,312 |   |   |   | 404,697 |   |
|   Comprehensive      income                                                                                                                                                                               |   |                                                           |    |   |   |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Net      income                                                                                                                                                                        |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | 34,142 |   |   |   | – |   |   |   | 626 |   |   |   | 34,768 |   |
|     Net      unrealized change in fair value of interest              rate swap                                                                              |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | – |   |   |   | (466 | ) |   |   | – |   |   |   | (466 | ) |
|        Total      comprehensive      income                                                                |   |                                                           |    |   |   |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 34,302 |   |
|   Common      dividends declared – $2.08 per share                                                                                                                                                  |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | (51,767 | ) |   |   | – |   |   |   | – |   |   |   | (51,767 | ) |
|   Preferred      dividends declared – $1.0048 per share                                                                                                                                             |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | (1,326 | ) |   |   | – |   |   |   | – |   |   |   | (1,326 | ) |
|   Redemption      of 1,320,000 shares of Series D preferred    stock                                                                                                                  |   |                                                           | (32,326 | )      |   |   | – |       |   |   | – |   |   |   | (682 | ) |   |   | – |   |   |   | – |   |   |   | (33,008 | ) |
|   Stock-based      compensation, net of forfeitures                                                                                                                                                       |   |                                                           | – |   |   |   | – |       |   |   | 3,176 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 3,176 |   |
|   Issuance      of 1,198,700 shares of common stock,         common stock      offering, net of expenses                                                                              |   |                                                           | – |   |   |   | 1       |       |   |   | 57,178 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 57,179 |   |
|   Issuance      of 25,720 shares of common stock,    options      exercised                                                                                                           |   |                                                           | – |   |   |   | – |       |   |   | 526 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 526 |   |
|   Issuance      of 6,627 shares of common stock,    dividend      reinvestment plan                                                                                                   |   |                                                           | – |   |   |   | – |       |   |   | 281 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 281 |   |
|   Withheld      7,150 shares of common stock to satisfy tax    withholding      obligations in connection with the         vesting of restricted      stock  |   |                                                           | – |   |   |   | – |       |   |   | (282 | ) |   |   | – |   |   |   | – |   |   |   | – |   |   |   | (282 | ) |
|   Distributions      to noncontrolling interest                                                                                                                                                           |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | – |   |   |   | – |   |   |   | (402 | ) |   |   | (402 | ) |
| BALANCE,      DECEMBER 31, 2008                                                                                                                                                                                     |   |                                                           | – |   |   |   | 3       |       |   |   | 528,452 |   |   |   | (117,093 | ) |   |   | (522 | ) |   |   | 2,536 |   |   |   | 413,376 |   |
|   Comprehensive      income                                                                                                                                                                               |   |                                                           |    |   |   |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Net      income                                                                                                                                                                             |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | 26,659 |   |   |   | – |   |   |   | 435 |   |   |   | 27,094 |   |
|     Net      unrealized change in fair value of interest             rate swap                                                                                    |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | – |   |   |   | 204 |   |   |   | – |   |   |   | 204 |   |
|        Total      comprehensive income                                                                                                                                           |   |                                                           |    |   |   |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 27,298 |   |
|   Common      dividends declared – $2.08 per share                                                                                                                                                  |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | (53,929 | ) |   |   | – |   |   |   | – |   |   |   | (53,929 | ) |
|   Stock-based      compensation, net of forfeitures                                                                                                                                                       |   |                                                           | – |   |   |   | – |       |   |   | 2,060 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 2,060 |   |
|   Issuance      of 1,600,000 shares of common stock,         common stock      offering, net of expenses                                                                              |   |                                                           | – |   |   |   | – |       |   |   | 57,553 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 57,553 |   |
|   Issuance      of 57,436 shares of common stock,    options      exercised                                                                                                           |   |                                                           | – |   |   |   | – |       |   |   | 1,180 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 1,180 |   |
|   Issuance      of 7,938 shares of common stock,    dividend      reinvestment plan                                                                                                   |   |                                                           | – |   |   |   | – |       |   |   | 268 |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | 268 |   |
|   Withheld      8,514 shares of common stock to satisfy tax    withholding      obligations in connection with the         vesting of restricted      stock  |   |                                                           | – |   |   |   | – |       |   |   | (316 | ) |   |   | – |   |   |   | – |   |   |   | – |   |   |   | (316 | ) |
|   Distributions      to noncontrolling interest                                                                                                                                                           |   |                                                           | – |   |   |   | – |       |   |   | – |   |   |   | – |   |   |   | – |   |   |   | (394 | ) |   |   | (394 | ) |
| BALANCE,      DECEMBER 31, 2009                                                                                                                                                                                     |   | $                                                              | – |   |   |   | 3       |       |   |   | 589,197 |   |   |   | (144,363 | ) |   |   | (318 | ) |   |   | 2,577 |   |   |   | 447,096 |   |
|                                                                                                                                                                                                                |   |                                                           |    |   |   |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Years      Ended December 31, |     |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009                          |     |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | (In      thousands)           |     |
| OPERATING      ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                          |     |   |   |   |   |   |   |
|     Net      income attributable to EastGroup Properties,      Inc.                                                                                                                       |   | $                             | 26,659   |   |   |   | 34,142 |   |   |   | 29,734 |   |
|     Adjustments      to reconcile net income to net cash provided by operating      activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                          |     |   |   |   |   |   |   |   |   |   |
|        Depreciation      and amortization from continuing      operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                          | 53,953   |   |   |   | 51,144 |   |   |   | 47,644 |   |
|        Depreciation      and amortization from discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                          | 51       |   |   |   | 148 |   |   |   | 414 |   |
|        Noncontrolling      interest depreciation and      amortization                                                                                                     |   |                          | (206     | ) |   |   | (201 | ) |   |   | (174 | ) |
|        Amortization      of mortgage loan      premiums                                                                                                                    |   |                          | (122     | ) |   |   | (120 | ) |   |   | (117 | ) |
|        Gain      on sales of land and real estate      investments                                                                                                         |   |                          | (60      | ) |   |   | (2,353 | ) |   |   | (3,562 | ) |
|        Gain      on sales of      securities                                                                                                                               |   |                          | –  |   |   |   | (435 | ) |   |   | – |   |
|        Amortization      of discount on mortgage loan      receivable                                                                                                      |   |                          | (12      | ) |   |   | (117 | ) |   |   | – |   |
|        Stock-based      compensation      expense                                                                                                                          |   |                          | 1,827    |   |   |   | 2,265 |   |   |   | 2,220 |   |
|        Equity      in earnings of unconsolidated investment, net of    distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                          | (60      | ) |   |   | (36 | ) |   |   | (35 | ) |
|        Changes      in operating assets and liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                          |     |   |   |   |   |   |   |   |   |   |
|                Accrued income and other      assets                                                                                                              |   |                          | 1,258    |   |   |   | (814 | ) |   |   | 3,476 |   |
|                Accounts payable, accrued expenses and prepaid      rent                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                          | (2,696   | ) |   |   | 4,500 |   |   |   | 2,262 |   |
| NET      CASH PROVIDED BY OPERATING      ACTIVITIES                                                                                                                                                           |   |                          | 80,592   |   |   |   | 88,123 |   |   |   | 81,862 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                          |     |   |   |   |   |   |   |   |   |   |
| INVESTING      ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                          |     |   |   |   |   |   |   |   |   |   |
|     Real      estate      development                                                                                                                                                     |   |                          | (35,057  | ) |   |   | (85,441 | ) |   |   | (112,960 | ) |
|     Purchases      of real      estate                                                                                                                                                    |   |                          | (17,725  | ) |   |   | (46,282 | ) |   |   | (57,838 | ) |
|     Real      estate      improvements                                                                                                                                                    |   |                          | (14,474  | ) |   |   | (15,210 | ) |   |   | (15,881 | ) |
|     Proceeds      from sales of land and real estate      investments                                                                                                                     |   |                          | 908      |   |   |   | 11,728 |   |   |   | 6,357 |   |
|     Advances      on mortgage loans      receivable                                                                                                                                       |   |                          | –  |   |   |   | (4,994 | ) |   |   | – |   |
|     Repayments      on mortgage loans      receivable                                                                                                                                     |   |                          | 31       |   |   |   | 871 |   |   |   | 30 |   |
|     Purchases      of      securities                                                                                                                                                     |   |                          | –  |   |   |   | (7,534 | ) |   |   | – |   |
|     Proceeds      from sales of      securities                                                                                                                                           |   |                          | –  |   |   |   | 7,969 |   |   |   | – |   |
|     Changes      in accrued development      costs                                                                                                                                        |   |                          | (6,462   | ) |   |   | (5,894 | ) |   |   | 4,614 |   |
|     Changes      in other assets and other      liabilities                                                                                                                               |   |                          | (7,545   | ) |   |   | (7,395 | ) |   |   | (8,400 | ) |
| NET      CASH USED IN INVESTING      ACTIVITIES                                                                                                                                                               |   |                          | (80,324  | ) |   |   | (152,182 | ) |   |   | (184,078 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                          |     |   |   |   |   |   |   |   |   |   |
| FINANCING      ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                          |     |   |   |   |   |   |   |   |   |   |
|     Proceeds      from bank      borrowings                                                                                                                                               |   |                          | 225,314  |   |   |   | 331,644 |   |   |   | 332,544 |   |
|     Repayments      on bank      borrowings                                                                                                                                               |   |                          | (246,044 | ) |   |   | (357,202 | ) |   |   | (226,166 | ) |
|     Proceeds      from mortgage notes      payable                                                                                                                                        |   |                          | 76,365   |   |   |   | 137,000 |   |   |   | 75,000 |   |
|     Principal      payments on mortgage notes      payable                                                                                                                                |   |                          | (59,100  | ) |   |   | (16,434 | ) |   |   | (26,963 | ) |
|     Debt      issuance      costs                                                                                                                                                         |   |                          | (492     | ) |   |   | (2,372 | ) |   |   | (701 | ) |
|     Distributions      paid to      stockholders                                                                                                                                          |   |                          | (54,316  | ) |   |   | (54,174 | ) |   |   | (50,680 | ) |
|     Redemption      of Series D preferred      shares                                                                                                                                     |   |                          | –  |   |   |   | (33,008 | ) |   |   | – |   |
|     Proceeds      from common stock      offerings                                                                                                                                        |   |                          | 57,181   |   |   |   | 57,179 |   |   |   | – |   |
|     Proceeds      from exercise of stock      options                                                                                                                                     |   |                          | 1,180    |   |   |   | 526 |   |   |   | 1,475 |   |
|     Proceeds      from dividend reinvestment      plan                                                                                                                                    |   |                          | 268      |   |   |   | 281 |   |   |   | 279 |   |
|     Other                                                                                                                                                                                 |   |                          | 145      |   |   |   | 188 |   |   |   | (2,788 | ) |
| NET      CASH PROVIDED BY FINANCING      ACTIVITIES                                                                                                                                                           |   |                          | 501      |   |   |   | 63,628 |   |   |   | 102,000 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                          |     |   |   |   |   |   |   |   |   |   |
| INCREASE      (DECREASE) IN CASH AND CASH EQUIVALENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          | 769      |   |   |   | (431 | ) |   |   | (216 | ) |
|     CASH AND CASH EQUIVALENTS AT      BEGINNING OF YEAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                          | 293      |   |   |   | 724 |   |   |   | 940 |   |
|     CASH AND CASH EQUIVALENTS AT      END OF YEAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $                             | 1,062    |   |   |   | 293 |   |   |   | 724 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                          |     |   |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL      CASH FLOW INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                          |     |   |   |   |   |   |   |   |   |   |
|     Cash      paid for interest, net of amount capitalized of $5,856, $6,946 and      $6,086                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                          |     |   |   |   |   |   |   |   |   |   |
|       for      2009, 2008 and 2007,      respectively                                                                                                                           |   | $                             | 31,297   |   |   |   | 29,573 |   |   |   | 25,838 |   |
|     Fair      value of common stock awards issued to employees and directors, net of      forfeitures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                          | 2,444    |   |   |   | 1,255 |   |   |   | 1,443 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Years      Ended December 31, |    |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 2009                          |    |   | 2008 |   |   | 2007 |   |
| Common      Share Distributions:                                                                                                                                                                                                                                                                                                                                                                                     |   |                          |    |   |   |   |   |   |   |
|     Ordinary      income                                                                            |   | $                             | 1.7534  |   |   |   | 2.0758 |   |   |   | 1.7449 |   |
|     Return      of      capital                                                                     |   |                          | .3266   |   |   |   | – |   |   |   | .1273 |   |
|     Unrecaptured      Section 1250 long-term capital gain                                                                                                                                                                                                                                                                                                                                        |   |                          | – |   |   |   | .0042 |   |   |   | .0236 |   |
|     Other      long-term capital      gain                                                          |   |                          | – |   |   |   | – |   |   |   | .1042 |   |
| Total      Common      Distributions                                                                                    |   | $                             | 2.0800  |   |   |   | 2.0800 |   |   |   | 2.0000 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                          |    |   |   |   |   |   |   |   |   |   |
| Series      D Preferred Share Distributions:                                                                                                                                                                                                                                                                                                                                                                         |   |                          |    |   |   |   |   |   |   |   |   |   |
|     Ordinary      income                                                                            |   | $                             | – |   |   |   | 1.0024 |   |   |   | 1.8608 |   |
|     Unrecaptured      Section 1250 long-term capital gain                                                                                                                                                                                                                                                                                                                                        |   |                          | – |   |   |   | .0024 |   |   |   | .0234 |   |
|     Other      long-term capital      gain                                                          |   |                          | – |   |   |   | – |   |   |   | .1034 |   |
| Total      Preferred D      Distributions                                                                               |   | $                             | – |   |   |   | 1.0048 |   |   |   | 1.9876 |   |

----

----

| Years      Ending December 31,                                                                                                                                                                                                                                                                                   |   | (In      thousands) |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|
|                                                                                                                                                                                                                                                                                                             |   |                |   |
| 2010                                                   |   | $                   | 1,604  |   |
| 2011                                                   |   |                | 832    |   |
| 2012                                                   |   |                | 401    |   |
| 2013                                                   |   |                | 153    |   |
| 2014                                                   |   |                | 65     |   |

----

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | December      31,   |      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009                |      |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (In      thousands) |      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                |      |   |   |   |
| Real      estate properties:                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                |      |   |   |   |
|    Land                                                                                                            |   | $                   | 208,630   |   |   |   | 187,617 |   |
|    Buildings and      building      improvements                                                                   |   |                | 944,085   |   |   |   | 867,506 |   |
|    Tenant and      other      improvements                                                                         |   |                | 217,873   |   |   |   | 197,159 |   |
| Development                                                                                                                       |   |                | 97,594    |   |   |   | 150,354 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                | 1,468,182 |   |   |   | 1,402,636 |   |
|    Less      accumulated      depreciation                                                                         |   |                | (354,745  | ) |   |   | (310,351 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                   | 1,113,437 |   |   |   | 1,092,285 |   |

|                                                   |   |               |      |   | Costs      Incurred                  |   |    |                           |   |
|--------------------------------------------------------|--------|--------------------|-----------|--------|--------------------------------------|--------|---------|--------------------------------|--------|
|                                                   |   |  Size         |      |   | For      theYear      Ended 12/31/09 |   |    | Cumulative      as of 12/31/09 |   |   | EstimatedTotal      Costs(1) |   |
| DEVELOPMENT                                            |   | (Unaudited)        |      |   |                                 |   |    |                           |   |   | (Unaudited) |   |
|                                                   |   | (Square      feet) |      |   | (In      thousands)                  |   |
| LEASE-UP                                               |   |               |      |   |                                 |   |    |                           |   |   |   |   |
|   Beltway      Crossing VII, Houston, TX     |   |               | 95,000    |   |                                 | $      | 1,432   |                           |   |   | 5,645 |   |   |   | 6,400 |   |
|   Country      Club III & IV, Tucson, AZ |   |               | 138,000   |   |                                 |   | 2,680   |                           |   |   | 10,727 |   |   |   | 12,100 |   |
|   Oak      Creek IX,  Tampa, FL    |   |               | 86,000    |   |                                 |   | 951     |                           |   |   | 5,151 |   |   |   | 5,800 |   |
|   Blue      Heron III, West Palm Beach, FL   |   |               | 20,000    |   |                                 |   | 652     |                           |   |   | 2,550 |   |   |   | 2,700 |   |
|   World      Houston 30, Houston, TX         |   |               | 88,000    |   |                                 |   | 4,289   |                           |   |   | 5,880 |   |   |   | 6,600 |   |
| Total      Lease-up                                    |   |               | 427,000   |   |                                 |   | 10,004  |                           |   |   | 29,953 |   |   |   | 33,600 |   |
| UNDER      CONSTRUCTION                                |   |               |      |   |                                 |   |    |                           |   |   |   |   |   |   |   |   |
|   Arion      8 Expansion, San Antonio, TX    |   |               | 20,000    |   |                                 |   | 51      |                           |   |   | 51 |   |   |   | 1,900 |   |
| Total      Under Construction                          |   |               | 20,000    |   |                                 |   | 51      |                           |   |   | 51 |   |   |   | 1,900 |   |
| PROSPECTIVE      DEVELOPMENT (PRIMARILY LAND)          |   |               |      |   |                                 |   |    |                           |   |   |   |   |   |   |   |   |
|   Tucson,      AZ                            |   |               | 70,000    |   |                                 |   | – |                           |   |   | 417 |   |   |   | 4,900 |   |
|   Tampa,      FL                             |   |               | 249,000   |   |                                 |   | 29      |                           |   |   | 3,919 |   |   |   | 14,600 |   |
|   Orlando,      FL                           |   |               | 1,584,000 |   |                                 |   | 6,573   |                           |   |   | 21,026 |   |   |   | 101,700 |   |
|   Fort      Myers, FL                        |   |               | 659,000   |   |                                 |   | 909     |                           |   |   | 15,923 |   |   |   | 48,100 |   |
|   Dallas,      TX                            |   |               | 70,000    |   |                                 |   | 71      |                           |   |   | 641 |   |   |   | 4,100 |   |
|   El      Paso, TX                           |   |               | 251,000   |   |                                 |   | – |                           |   |   | 2,444 |   |   |   | 9,600 |   |
|   Houston,      TX                           |   |               | 1,064,000 |   |                                 |   | 2,486   |                           |   |   | 15,272 |   |   |   | 68,100 |   |
|   San      Antonio, TX                       |   |               | 595,000   |   |                                 |   | 708     |                           |   |   | 6,147 |   |   |   | 37,500 |   |
|   Charlotte,      NC                         |   |               | 95,000    |   |                                 |   | 100     |                           |   |   | 1,095 |   |   |   | 7,100 |   |
|   Jackson,      MS                           |   |               | 28,000    |   |                                 |   | – |                           |   |   | 706 |   |   |   | 2,000 |   |
| Total      Prospective Development                     |   |               | 4,665,000 |   |                                 |   | 10,876  |                           |   |   | 67,590 |   |   |   | 297,700 |   |
|                                                   |   |               | 5,112,000 |   |                                 | $      | 20,931  |                           |   |   | 97,594 |   |   |   | 333,200 |   |

----

|                                                               |   |               |      |   | Costs      Incurred                  |   |                           |   |   |   |   |
|--------------------------------------------------------------------|--------|--------------------|-----------|--------|--------------------------------------|--------|--------------------------------|--------|--------|--------|--------|
|                                                               |   | Size               |      |   | For      theYear      Ended 12/31/09 |   | Cumulative      as of 12/31/09 |   |   |   |   |   |   |
|                                                               |   | (Unaudited)        |      |   |                                 |   |                           |   |   |   |   |
|                                                               |   | (Square      feet) |      |   | (In      thousands)                  |   |                           |   |   |   |   |
| DEVELOPMENTS      COMPLETED AND TRANSFERRED                        |   |               |      |   |                                 |   |                           |   |   |   |   |   |   |
| TO      REAL ESTATE PROPERTIES DURING 2009                         |   |               |      |   |                                 |   |                           |   |   |   |   |   |   |
|   40th      Avenue Distribution Center, Phoenix, AZ      |   |               | 90,000    |   |                                 | $      | –                        |   | 6,539  |   |   |   |   |   |   |
|   Wetmore      II, Building B, San Antonio, TX           |   |               | 55,000    |   |                                 |   | 10                             |   | 3,643  |   |   |   |   |   |   |
|   Beltway      Crossing VI, Houston, TX                  |   |               | 128,000   |   |                                 |   | 149                            |   | 5,756  |   |   |   |   |   |   |
|   World      Houston 28, Houston, TX                     |   |               | 59,000    |   |                                 |   | 1,850                          |   | 4,230  |   |   |   |   |   |   |
|   Oak      Creek VI,  Tampa, FL                |   |               | 89,000    |   |                                 |   | 55                             |   | 5,642  |   |   |   |   |   |   |
|   Southridge      VIII, Orlando, FL                      |   |               | 91,000    |   |                                 |   | 338                            |   | 6,339  |   |   |   |   |   |   |
|   Techway      SW IV, Houston, TX                        |   |               | 94,000    |   |                                 |   | 918                            |   | 5,761  |   |   |   |   |   |   |
|   SunCoast      III, Fort Myers, FL                      |   |               | 93,000    |   |                                 |   | 294                            |   | 7,012  |   |   |   |   |   |   |
|   Sky      Harbor, Phoenix, AZ                           |   |               | 264,000   |   |                                 |   | 1,046                          |   | 23,875 |   |   |   |   |   |   |
|   World      Houston 26, Houston, TX                     |   |               | 59,000    |   |                                 |   | 661                            |   | 3,479  |   |   |   |   |   |   |
|   World      Houston 29, Houston, TX                     |   |               | 70,000    |   |                                 |   | 2,900                          |   | 4,786  |   |   |   |   |   |   |
|   12th      Street Distribution Center, Jacksonville, FL |   |               | 150,000   |   |                                 |   | 321                            |   | 5,171  |   |   |   |   |   |   |
| Total      Transferred to Real Estate Properties                   |   |               | 1,242,000 |   |                                 | $      | 8,542                          |   | 82,233 | (2)    |   |   |   |   |   |

|  Real      Estate Properties                                             |  Location       |  Size                  | DateSold |   | NetSales      Price |   |   | Basis  |   |   | Discount      on Note Receivable |   |   | DeferredGain |   |   | RecognizedGain |    |
|-------------------------------------------------------------------------------|----------------------|-----------------------------|----------|--------|---------------------|--------|--------|--------|--------|--------|----------------------------------|--------|--------|--------------|--------|--------|----------------|---------|
|                                                                          |                 |                        |     |   | (In      thousands) |   |
| 2009                                                                          |                 |                        |     |   |                |   |   |   |   |   |                             |   |   |         |   |   |           |    |
| Butterfield      Trail (Building G)                                           | El      Paso, TX     | 62,000      SF              | 11/20/09 |   | $                   | 908    |   |   |   | 879    |                             |   |   | –      |   |   |           | – |   |   |   | 29 |   |
| Deferred      gain recognized from    previous      sales |                 |                        |     |   |                |   |   |   |   |   |                             |   |   |         |   |   |           |    |   |   |   | 31 |   |
|                                                                          |                 |                        |     |   | $                   | 908    |   |   |   | 879    |                             |   |   | –      |   |   |           | – |   |   |   | 60 |   |
| 2008                                                                          |                 |                        |     |   |                |   |   |   |   |   |                             |   |   |         |   |   |           |    |   |   |   |   |   |
| North      Stemmons I                                                         | Dallas,      TX      | 123,000      SF             | 05/12/08 |   | $                   | 4,633  |   |   |   | 2,684  |                             |   |   | –      |   |   |           | – |   |   |   | 1,949 |   |
| United      Stationers Tampa Building                                         | Tampa,      FL       |   128,000      SF | 08/08/08 |   |                | 5,717  |   |   |   | 5,225  |                             |   |   | 198          |   |   |           | – |   |   |   | 294 |   |
| Delp      Distribution Center III                                             | Memphis,      TN     |   20,000      SF  | 08/20/08 |   |                | 589    |   |   |   | 506    |                             |   |   | –      |   |   |           | – |   |   |   | 83 |   |
| Alamo      Ridge residential land                                             | San      Antonio, TX | 41.0      Acres             | 09/08/08 |   |                | 762    |   |   |   | 762    |                             |   |   | –      |   |   |           | – |   |   |   | – |   |
| Deferred      gain recognized from    previous      sales |                 |                        |     |   |                |   |   |   |   |   |                             |   |   |         |   |   |           |    |   |   |   | 27 |   |
|                                                                          |                 |                        |     |   | $                   | 11,701 |   |   |   | 9,177  |                             |   |   | 198          |   |   |           | – |   |   |   | 2,353 |   |
| 2007                                                                          |                 |                        |     |   |                |   |   |   |   |   |                             |   |   |         |   |   |           |    |   |   |   |   |   |
| Delp      Distribution Center I                                               | Memphis,      TN     | 152,000      SF             | 10/11/07 |   | $                   | 3,080  |   |   |   | 2,477  |                             |   |   | –      |   |   |           | – |   |   |   | 603 |   |
| Arion      Business Park land                                                 | San      Antonio, TX | 13.1      Acres             | 10/11/07 |   |                | 2,890  |   |   |   | 318    |                             |   |   | –      |   |   |           | – |   |   |   | 2,572 |   |
| Deferred      gain recognized from    previous      sales |                 |                        |     |   |                |   |   |   |   |   |                             |   |   |         |   |   |           |    |   |   |   | 387 |   |
|                                                                          |                 |                        |     |   | $                   | 5,970  |   |   |   | 2,795  |                             |   |   | –      |   |   |           | – |   |   |   | 3,562 |   |

----

| Years      Ending December 31,                                                                                                                                                                                                                                                                                                                            |   | (In      thousands) |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                      |   |                |    |
| 2010                                                                                            |   | $                   | 123,204 |   |
| 2011                                                                                            |   |                | 100,323 |   |
| 2012                                                                                            |   |                | 75,790  |   |
| 2013                                                                                            |   |                | 52,849  |   |
| 2014                                                                                            |   |                | 35,535  |   |
| Thereafter                                                                                      |   |                | 61,136  |   |
|    Total minimum      receipts                                                   |   | $                   | 448,837 |   |

| Years      Ending December 31,                                                                                                                                                                                                                                                                                                                            |   | (In      thousands) |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                      |   |                |   |
| 2010                                                                                            |   | $                   | 700    |   |
| 2011                                                                                            |   |                | 700    |   |
| 2012                                                                                            |   |                | 700    |   |
| 2013                                                                                            |   |                | 700    |   |
| 2014                                                                                            |   |                | 700    |   |
| Thereafter                                                                                      |   |                | 14,604 |   |
|    Total minimum      payments                                                   |   | $                   | 18,104 |   |

----

|                                                                                                                       |   | December      31,   |   |
|----------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|
|                                                                                                                       |   | 2009                |   |   | 2008 |   |
|                                                                                                                       |   | (In      thousands) |   |
|                                                                                                                       |   |                |   |   |   |   |
| Leasing costs (principally      commissions), net of accumulated amortization                                              |   | $                   | 21,483 |   |   |   | 20,866 |   |
| Straight-line      rent receivable, net of allowance for doubtful accounts                                                 |   |                | 16,520 |   |   |   | 14,914 |   |
| Accounts      receivable, net of allowance for doubtful accounts                                                           |   |                | 2,947  |   |   |   | 4,094 |   |
| Acquired      in-place lease intangibles, net of accumulatedamortization                                                   |   |                |   |   |   |   |   |   |
|     of      $5,568 and $5,626 for 2009 and 2008, respectively                                          |   |                | 3,134  |   |   |   | 4,369 |   |
| Mortgage      loans receivable, net of discount of $69 and $81 for 2009 and    2008,      respectively |   |                | 4,155  |   |   |   | 4,174 |   |
| Loan      costs, net of accumulated amortization                                                                           |   |                | 3,705  |   |   |   | 4,246 |   |
| Goodwill                                                                                                                   |   |                | 990    |   |   |   | 990 |   |
| Prepaid expenses and other      assets                                                                                |   |                | 8,360  |   |   |   | 7,308 |   |
|                                                                                                                       |   | $                   | 61,294 |   |   |   | 60,961 |   |

|  Type      of Hedge |   | Current      Notional Amount |   |  Maturity      Date |  Reference      Rate |               | Fixed      Interest Rate |   |   | Effective      Interest Rate |   |   | Fair      Valueat      12/31/09 |   |   | Fair      Valueat      12/31/08 |   |
|--------------------------|--------|------------------------------|--------|--------------------------|---------------------------|--------------------|--------------------------|--------|--------|------------------------------|--------|--------|---------------------------------|--------|--------|---------------------------------|--------|
|                     |   | (In      thousands)          |   |                     |                      |               |                     |   |   |                         |   |   | (In      thousands)             |   |
| Swap                     |   | $                            | 9,175  |                     | 12/31/10                  | 1      month LIBOR |                     |   | 4.03   | %                            |   |   | 6.03                            | %      |   | $                               | (318   | ) |   | $ | (522 | ) |

----

| Property | Interest      Rate | MonthlyP&IPayment | MaturityDate | Carrying      Amountof      SecuringReal      Estate atDecember      31, 2009 | Balance      at December 31, |
|----------|--------------------|-----------------------|--------------|-------------------------------------------------------------------------------|------------------------------|
| 2009     | 2008               |
|     |               |                  |         | (In      thousands)                                                           |

| Dominguez,      Kingsview, Walnut, Washington,   Industry      Distribution Center I and Shaw                                                                                                                                                                            |   |   | 6.800  | %      |   | $          | 358,770 |     | Repaid   |   | $      | – |   |   |   | – |   |   |   | 31,716  |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|------------|---------|----------|----------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|
| Oak      Creek Distribution Center I                                                                                                                                                                                                                                               |   |   | 8.875  | %      |   |       | 52,109  |     | Repaid   |   |   | – |   |   |   | – |   |   |   | 452     |   |
| Tower Automotive Center      (recourse)      (1)                                                                                                                                                                                                                                        |   |   | 6.030  | %      |   | Semiannual |    | 01/15/11 |     |   | 8,590  |    |   |   | 9,175  |    |   |   | 9,365  |    |
| Interstate      I, II & III, Venture, Stemmons Circle,    Glenmont      I & II,  West Loop I & II, Butterfield Trail    and Rojas                                                                                              |   |   | 7.250  | %      |   |       | 325,263 |     | 05/01/11 |   |   | 38,671  |   |   |   | 37,403  |   |   |   | 38,549  |   |
| America Plaza, Central Green and      World Houston3-9                                                                                                                                                                                                                             |   |   | 7.920  | %      |   |       | 191,519 |     | 05/10/11 |   |   | 24,187  |   |   |   | 23,451  |   |   |   | 23,873  |   |
| University Business Center (120      & 130 Cremona)                                                                                                                                                                                                                            |   |   | 6.430  | %      |   |       | 81,856  |     | 05/15/12 |   |   | 9,086   |   |   |   | 3,768   |   |   |   | 4,483   |   |
| University Business Center (125      & 175 Cremona)                                                                                                                                                                                                                                 |   |   | 7.980  | %      |   |       | 88,607  |     | 06/01/12 |   |   | 12,470  |   |   |   | 9,441   |   |   |   | 9,738   |   |
| Oak      Creek Distribution Center IV                                                                                                                                                                                                                                                   |   |   | 5.680  | %      |   |       | 31,253  |     | 06/01/12 |   |   | 6,110   |   |   |   | 3,838   |   |   |   | 3,990   |   |
| Airport      Distribution, Southpointe, Broadway I, III  &   IV,      Southpark, 51st      Avenue, Chestnut, Main Street,   Interchange      Business Park, North Stemmons I land   and World      Houston 12 & 13  |   |   | 6.860  | %      |   |       | 279,149 |     | 09/01/12 |   |   | 38,150  |   |   |   | 34,330  |   |   |   | 35,289  |   |
| Interstate Distribution Center -      Jacksonville                                                                                                                                                                                                                                      |   |   | 5.640  | %      |   |       | 31,645  |     | 01/01/13 |   |   | 6,455   |   |   |   | 4,493   |   |   |   | 4,612   |   |
| Broadway      V, 35th      Avenue, Sunbelt, Beltway I,   Lockwood,      Northwest Point, Techway Southwest I   and World      Houston 10, 11 & 14                                                                                                |   |   | 4.750  | %      |   |       | 259,403 |     | 09/05/13 |   |   | 41,107  |   |   |   | 38,591  |   |   |   | 39,839  |   |
| Southridge      XII, Airport Commerce Center I & II,   Interchange      Park, Ridge Creek III, World Houston 24,   25      & 27 and Waterford Distribution Center (2)                                                                             |   |   | 5.750  | %      |   |       | 414,229 |     | 01/05/14 |   |   | 70,319  |   |   |   | 57,518  |   |   |   | 59,000  |   |
| Kyrene Distribution Center      I                                                                                                                                                                                                                                                  |   |   | 9.000  | %      |   |       | 11,246  |     | 07/01/14 |   |   | 2,131   |   |   |   | 505     |   |   |   | 591     |   |
| World      Houston 17, Kirby, Americas Ten I, Shady Trail,   Palm River      North I, II & III and Westlake I & II                                                                                                                                               |   |   | 5.680  | %      |   |       | 175,479 |     | 10/10/14 |   |   | 27,099  |   |   |   | 28,969  |   |   |   | 29,415  |   |
| Beltway      II, III & IV,  Commerce Park 1, Eastlake,   Fairgrounds      I-IV, Nations Ford I-IV,   Techway      Southwest III, Wetmore I-IV and   World Houston      15 & 22                                      |   |   | 5.500  | %      |   |       | 536,552 |     | 04/05/15 |   |   | 73,093  |   |   |   | 74,259  |   |   |   | 76,544  |   |
| Country      Club I, Lake Pointe, Techway Southwest II and   World Houston      19 & 20                                                                                                                                                                         |   |   | 4.980  | %      |   |       | 256,952 |     | 12/05/15 |   |   | 21,035  |   |   |   | 33,960  |   |   |   | 35,316  |   |
| Huntwood      and Wiegman Distribution Centers                                                                                                                                                                                                                                          |   |   | 5.680  | %      |   |       | 265,275 |     | 09/05/16 |   |   | 22,882  |   |   |   | 34,351  |   |   |   | 35,546  |   |
| Alamo      Downs, Arion 1-15 & 17, Rampart I, II & III,   Santan      10 and World Houston 16                                                                                                                                                                    |   |   | 5.970  | %      |   |       | 557,467 |     | 11/05/16 |   |   | 57,064  |   |   |   | 71,136  |   |   |   | 73,502  |   |
| Broadway      VI, World Houston 1 & 2, 21 & 23, Arion 16,   Chino,      Northpark I-IV, South 55th      Avenue,   East      University I & II and Santan 10 II                                                                                |   |   | 5.570  | %      |   |       | 518,885 |     | 09/05/17 |   |   | 58,824  |   |   |   | 70,100  |   |   |   | 72,354  |   |
| Dominguez,      Kingsview, Walnut, Washington,   Industry      I & III and Shaw (3)                                                                                                                                                                             |   |   | 7.500  | %      |   |       | 539,747 |     | 05/05/19 |   |   | 52,309  |   |   |   | 66,137  |   |   |   | – |   |
| Blue Heron Distribution Center      II                                                                                                                                                                                                                                             |   |   | 5.390  | %      |   |       | 16,176  |     | 02/29/20 |   |   | 4,992   |   |   |   | 1,524   |   |   |   | 1,632   |   |
|                                                                                                                                                                                                                                                                                    |   |   |   |   |   |       |    |     |     |   | $      | 574,574 |   |   |   | 602,949 |   |   |   | 585,806 |   |

| (1)   | The      Tower Automotive mortgage has a variable interest rate based on the      one-month LIBOR.  EastGroup has an interest rate swap agreement      that fixes the rate at 4.03%.  Interest and related fees result      in an effective interest rate of 6.03%.  Semiannual principal      payments are made on this note; interest is paid monthly.  The      principal amounts of these payments increase incrementally as the loan      approaches maturity. (See Note 6) |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | This      mortgage has a recourse liability of $5 million which will be released      based on the secured properties generating certain base rent amounts      subsequent to January 1, 2011. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | This      mortgage has a recourse liability of $5 million which will be released      based on the secured properties generating certain base rent      amounts. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Years      Ending December 31,                                                                                                                                                                                                                                                                                   |   | (In      thousands) |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|
|                                                                                                                                                                                                                                                                                                             |   |                |   |
| 2010                                                   |   | $                   | 19,744 |   |
| 2011                                                   |   |                | 86,663 |   |
| 2012                                                   |   |                | 63,940 |   |
| 2013                                                   |   |                | 55,197 |   |
| 2014                                                   |   |                | 91,792 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | December      31,   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009                |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | (In      thousands) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                |   |   |   |   |
| Property taxes      payable                                                                                                |   | $                   | 8,910  |   |   |   | 11,136 |   |
| Development costs      payable                                                                                             |   |                | 665    |   |   |   | 7,127 |   |
| Interest      payable                                                                                                      |   |                | 2,766  |   |   |   | 2,453 |   |
| Dividends payable      on nonvested restricted      stock                                                             |   |                | 870    |   |   |   | 1,257 |   |
| Other payables and accrued      expenses                                                                                   |   |                | 10,391 |   |   |   | 10,865 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $                   | 23,602 |   |   |   | 32,838 |   |

|                                                                                                                                                                                                                                                                                                                                                                                           |   | December      31,   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                           |   | 2009                |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                           |   | (In      thousands) |   |
|                                                                                                                                                                                                                                                                                                                                                                                           |   |                |   |   |   |   |
| Security      deposits                                                             |   | $                   | 7,453  |   |   |   | 7,560 |   |
| Prepaid rent and other deferred      income                                                                                                                                                                                                                                                                                                                                                    |   |                | 7,428  |   |   |   | 5,430 |   |
| Other      liabilities                                                             |   |                | 834    |   |   |   | 1,309 |   |
|                                                                                                                                                                                                                                                                                                                                                                                           |   | $                   | 15,715 |   |   |   | 14,299 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                |   | Years      Ended December 31, |       |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2009                          |       |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                |   | Common      Shares            |       |
| Shares outstanding at beginning      of year                                                                                                                                                                                                                                                                                                                                                                        |   |                          | 25,070,401 |   |   |   | 23,808,768 |   |   |   | 23,701,275 |   |
| Common stock      offerings                                                                             |   |                          | 1,600,000  |   |   |   | 1,198,700 |   |   |   | – |   |
| Stock options      exercised                                                                            |   |                          | 57,436     |   |   |   | 25,720 |   |   |   | 67,150 |   |
| Dividend reinvestment      plan                                                                         |   |                          | 7,938      |   |   |   | 6,627 |   |   |   | 6,281 |   |
| Incentive restricted stock      granted                                                                 |   |                          | 92,555     |   |   |   | 35,222 |   |   |   | 44,646 |   |
| Incentive restricted stock      forfeited                                                               |   |                          | (790       | ) |   |   | (2,520 | ) |   |   | (2,250 | ) |
| Director common stock      awarded                                                                      |   |                          | 7,074      |   |   |   | 5,034 |   |   |   | 3,048 |   |
| Restricted      stock withheld for tax obligations                                                                                                                                                                                                                                                                                                                                                                  |   |                          | (8,514     | ) |   |   | (7,150 | ) |   |   | (11,382 | ) |
| Shares      outstanding at end of      year                                                             |   |                          | 26,826,100 |   |   |   | 25,070,401 |   |   |   | 23,808,768 |   |

----

----

|                                |   | Years      Ended December 31, |    |
|-------------------------------------|--------|-------------------------------|---------|
| Restricted      Stock Activity:     |   | 2009                          |    |   | 2008 |   |   | 2007 |   |
|                                |   |  Shares                  |    |   | Weighted Average Grant Date FairValue |   |   |  Shares |   |   | Weighted      Average Grant Date Fair Value |   |   |  Shares |   |   | Weighted      Average Grant Date Fair Value |   |
| Nonvested at beginning of      year |   |                          | 87,685  |   |   | $ | 36.95 |   |   |   | 144,089 |   |   | $ | 31.65 |   |   |   | 196,671 |   |   | $ | 28.66 |   |
| Granted (1)                    |   |                          | 92,555  |   |   |   | 33.66 |   |   |   | 35,222 |   |   |   | 48.83 |   |   |   | 44,646 |   |   |   | 43.93 |   |
| Forfeited                      |   |                          | (790    | ) |   |   | 23.67 |   |   |   | (2,520 | ) |   |   | 26.51 |   |   |   | (2,250 | ) |   |   | 23.52 |   |
| Vested                         |   |                          | (55,370 | ) |   |   | 31.68 |   |   |   | (89,106 | ) |   |   | 33.37 |   |   |   | (94,978 | ) |   |   | 31.42 |   |
| Nonvested at end of      year  |   |                          | 124,080 |   |   |   | 36.93 |   |   |   | 87,685 |   |   |   | 36.95 |   |   |   | 144,089 |   |   |   | 31.65 |   |

| Nonvested      Shares Vesting Schedule                                                                                                                                                                                                                                                                                                  |   | Number      of Shares |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------|---------|
| 2010                                                                          |   |                  | 38,548  |   |
| 2011                                                                          |   |                  | 35,647  |   |
| 2012                                                                          |   |                  | 36,140  |   |
| 2013                                                                          |   |                  | 13,745  |   |
| Total Nonvested      Shares                                                   |   |                  | 124,080 |   |

----

|                                  |   | Years      Ended December 31, |    |
|---------------------------------------|--------|-------------------------------|---------|
| Stock      Option Activity:           |   | 2009                          |    |   | 2008 |   |   | 2007 |   |
|                                  |   |  Shares                  |    |   | Weighted      Average Exercise      Price |   |   |  Shares |   |   | Weighted      Average Exercise      Price |   |   |  Shares |   |   | Weighted      Average Exercise      Price |   |
| Outstanding at beginning of      year |   |                          | 55,436  |   |   | $ | 20.51 |   |   |   | 76,656 |   |   | $ | 20.49 |   |   |   | 135,056 |   |   | $ | 21.10 |   |
| Exercised                        |   |                          | (50,686 | ) |   |   | 20.39 |   |   |   | (21,220 | ) |   |   | 20.43 |   |   |   | (58,400 | ) |   |   | 21.89 |   |
| Outstanding at end of      year       |   |                          | 4,750   |   |   |   | 21.80 |   |   |   | 55,436 |   |   |   | 20.51 |   |   |   | 76,656 |   |   |   | 20.49 |   |
|                                  |   |                          |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Exercisable at end of      year  |   |                          | 4,750   |   |   | $ | 21.80 |   |   |   | 55,436 |   |   | $ | 20.51 |   |   |   | 76,656 |   |   | $ | 20.49 |   |

| Employee      outstanding stock options at December 31, 2009, all      exercisable: |                     |
|-------------------------------------------------------------------------------------|--------------------------|
| Exercise      Price Range                                                           |                     |   | Number |   | Weighted      Average RemainingContractual      Life |   | Weighted      Average Exercise Price |   |   | IntrinsicValue |   |
| $                                                                                   | 19.00      – 25.30 |   |   |   | 4,750 |   | 1.0      years |   | $ | 21.80 |   |   | $ | 78,000 |   |

|                                  |   | Years      Ended December 31, |   |
|---------------------------------------|--------|-------------------------------|--------|
| Stock      Option Activity:           |   | 2009                          |   |   | 2008 |   |   | 2007 |   |
|                                  |   |  Shares                  |   |   | Weighted      Average Exercise      Price |   |   |  Shares |   |   | Weighted      Average Exercise      Price |   |   |  Shares |   |   | Weighted      Average Exercise      Price |   |
| Outstanding at beginning of      year |   |                          | 38,250 |   |   | $ | 23.29 |   |   |   | 42,750 |   |   | $ | 23.01 |   |   |   | 51,500 |   |   | $ | 22.93 |   |
| Exercised                        |   |                          | (6,750 | ) |   |   | 21.64 |   |   |   | (4,500 | ) |   |   | 20.63 |   |   |   | (8,750 | ) |   |   | 22.49 |   |
| Outstanding at end of      year       |   |                          | 31,500 |   |   |   | 23.65 |   |   |   | 38,250 |   |   |   | 23.29 |   |   |   | 42,750 |   |   |   | 23.01 |   |
|                                  |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Exercisable at end of      year  |   |                          | 31,500 |   |   | $ | 23.65 |   |   |   | 38,250 |   |   | $ | 23.29 |   |   |   | 42,750 |   |   | $ | 23.01 |   |

| Director      outstanding stock options at December 31, 2009, all      exercisable: |               |
|-------------------------------------------------------------------------------------|--------------------|
| Exercise      Price Range                                                           |               |   | Number |   | Weighted      Average RemainingContractual      Life |   | Weighted      Average Exercise Price |   |   | IntrinsicValue |   |
| $                                                                                   | 21.40      - 26.60 |   |   |   | 31,500 |   |  2.0      years |   | $ | 23.65 |   |   | $ | 461,000 |   |

----

|                                                                          |   | 2009                |   |   | 2008   |   |   | 2007 |   |
|-------------------------------------------------------------------------------|--------|---------------------|--------|--------|--------|--------|--------|------|--------|
| ACCUMULATED      OTHER COMPREHENSIVE INCOME (LOSS):                           |   | (In      thousands) |   |
| Balance at beginning of      year                                        |   | $                   | (522   | )      |   |   | (56    | )    |   |   | 314 |   |
|     Change in      fair value of interest rate swap  |   |                | 204    |   |   |   | (466   | )    |   |   | (370 | ) |
| Balance at end of      year                                              |   | $                   | (318   | )      |   |   | (522   | )    |   |   | (56 | ) |

|                                                                                    |   | 2009                |   |   | 2008   |   |   | 2007   |   |
|-----------------------------------------------------------------------------------------|--------|---------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                    |   | (In      thousands) |   |
| BASIC      EPS COMPUTATION FOR INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES,      INC.   |   |                |   |   |   |   |   |   |   |
|   Numerator      – net income available to common      stockholders     |   | $                   | 26,659 |   |   |   | 32,134 |   |   |   | 27,110 |   |
|   Denominator      – weighted average shares      outstanding           |   |                | 25,590 |   |   |   | 24,503 |   |   |   | 23,562 |   |
| DILUTED      EPS COMPUTATION FOR INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES,      INC. |   |                |   |   |   |   |   |   |   |   |   |   |
|   Numerator      – net income available to common      stockholders     |   | $                   | 26,659 |   |   |   | 32,134 |   |   |   | 27,110 |   |
|   Denominator:                                                                |   |                |   |   |   |   |   |   |   |   |   |   |
|     Weighted      average shares outstanding                   |   |                | 25,590 |   |   |   | 24,503 |   |   |   | 23,562 |   |
|     Common      stock options                                  |   |                | 19     |   |   |   | 54     |   |   |   | 87 |   |
|     Nonvested      restricted stock                            |   |                | 81     |   |   |   | 96     |   |   |   | 132 |   |
|        Total      Shares                        |   |                | 25,690 |   |   |   | 24,653 |   |   |   | 23,781 |   |

----

|                                                                                                                                                                                                                                                                                                                                      |   | 2009      Quarter Ended (1)                |                            |   | 2008      Quarter Ended (1) |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|---------------------------------|--------|-----------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                      |   | Mar      31                                |                            |   | Jun      30                 |   |   | Sep      30 |   |   | Dec      31 |   |   | Mar      31 |   |   | Jun      30 |   |   | Sep      30 |   |   | Dec      31 |   |
|                                                                                                                                                                                                                                                                                                                                      |   | (In      thousands, except per share data) |                            |
| Revenues                                                                                                      |   | $                                          | 43,538                          |   |                        |   | 43,189 |   |   |   | 43,349 |   |   |   | 42,931 |   |   |   | 40,833 |   |   |   | 41,564 |   |   |   | 43,401 |   |   |   | 44,070 |   |
| Expenses                                                                                                      |   |                                       | (35,659                         | )      |                        |   | (35,925 | ) |   |   | (37,067 | ) |   |   | (37,152 | ) |   |   | (32,621 | ) |   |   | (33,618 | ) |   |   | (35,430 | ) |   |   | (35,473 | ) |
| Income from continuing      operations                                                                                                                                                                                                                                                                                                    |   |                                       | 7,879                           |   |                        |   | 7,264 |   |   |   | 6,282 |   |   |   | 5,779 |   |   |   | 8,212 |   |   |   | 7,946 |   |   |   | 7,971 |   |   |   | 8,597 |   |
| Income      (loss) from discontinued   operations                                              |   |                                       | (38                             | )      |                        |   | (38 | ) |   |   | (38 | ) |   |   | 4 |   |   |   | 35 |   |   |   | 1,937 |   |   |   | 70 |   |   |   | – |   |
| Net      income                                                                                               |   |                                       | 7,841                           |   |                        |   | 7,226 |   |   |   | 6,244 |   |   |   | 5,783 |   |   |   | 8,247 |   |   |   | 9,883 |   |   |   | 8,041 |   |   |   | 8,597 |   |
| Net      income attributable to         noncontrolling interest      in joint         ventures                                                                                                                                                                                                                   |   |                                       | (163                            | )      |                        |   | (70 | ) |   |   | (97 | ) |   |   | (105 | ) |   |   | (156 | ) |   |   | (137 | ) |   |   | (169 | ) |   |   | (164 | ) |
| Net      income attributable to EastGroup   Properties,      Inc.                                                                                                                                                                                                                                                          |   |                                       | 7,678                           |   |                        |   | 7,156 |   |   |   | 6,147 |   |   |   | 5,678 |   |   |   | 8,091 |   |   |   | 9,746 |   |   |   | 7,872 |   |   |   | 8,433 |   |
| Preferred      dividends – Series D                                                                                                                                                                                                                                                                                                 |   |                                       | –                         |   |                        |   | – |   |   |   | – |   |   |   | – |   |   |   | (656 | ) |   |   | (656 | ) |   |   | (14 | ) |   |   | – |   |
| Costs      on redemption of Series D   Preferred      shares                                                                                                                                                                                                                                                               |   |                                       |     – |   |                        |   | – |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | – |   |   |   | (682 | ) |   |   | – |   |
| Net      income available to EastGroup   Properties,      Inc. common stockholders                                                                                                                                                                                                                                         |   | $                                          | 7,678                           |   |                        |   | 7,156 |   |   |   | 6,147 |   |   |   | 5,678 |   |   |   | 7,435 |   |   |   | 9,090 |   |   |   | 7,176 |   |   |   | 8,433 |   |
| BASIC      PER SHARE DATA FOR INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. (2)                                                                                                                                                                                                                                                       |   |                                       |                            |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income available to common   stockholders                                             |   | $                                          | .31                             |   |                        |   | .28 |   |   |   | .24 |   |   |   | .22 |   |   |   | .31 |   |   |   | .37 |   |   |   | .29 |   |   |   | .34 |   |
| Weighted average shares      outstanding                                                                                                                                                                                                                                                                                                  |   |                                       | 24,999                          |   |                        |   | 25,326 |   |   |   | 25,811 |   |   |   | 26,208 |   |   |   | 23,684 |   |   |   | 24,488 |   |   |   | 24,908 |   |   |   | 24,923 |   |
| DILUTED      PER SHARE DATA FOR INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. (2)                                                                                                                                                                                                                                                     |   |                                       |                            |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income available to common   stockholders                                             |   | $                                          | .31                             |   |                        |   | .28 |   |   |   | .24 |   |   |   | .22 |   |   |   | .31 |   |   |   | .37 |   |   |   | .29 |   |   |   | .34 |   |
| Weighted average shares      outstanding                                                                                                                                                                                                                                                                                                  |   |                                       | 25,070                          |   |                        |   | 25,413 |   |   |   | 25,916 |   |   |   | 26,327 |   |   |   | 23,829 |   |   |   | 24,647 |   |   |   | 25,069 |   |   |   | 25,059 |   |

| (1)   | Certain      reclassifications have been made to the quarterly data previously      disclosed due to the disposal of properties in 2009 and 2008 whose results      of operations were reclassified to discontinued operations in the      consolidated financial statements. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | The      above quarterly earnings per share calculations are based on the weighted      average number of common shares outstanding during each quarter for basic      earnings per share and the weighted average number of outstanding common      shares and common share equivalents during each quarter for diluted      earnings per share.  The annual earnings per share calculations      in the Consolidated Statements of Income are based on the weighted average      number of common shares outstanding during each year for basic earnings      per share and the weighted average number of outstanding common shares and      common share equivalents during each year for diluted earnings per      share.  The sum of quarterly financial data may vary from the      annual data due to rounding. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                       |   | December      31,   |    |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                       |   | 2009                |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                       |   | CarryingAmount      |    |   | FairValue |   |   | CarryingAmount |   |   | FairValue |   |
|                                                                                                                                                                                                                                                                                                                                                                       |   | (In      thousands) |    |
| Financial      Assets                                                                                                                                                                                                                                                                                                                                                      |   |                |    |   |   |   |   |   |   |   |   |   |
|    Cash and cash      equivalents                                                                                                                                                                                                                                                                                                                           |   | $                   | 1,062   |   |   |   | 1,062 |   |   |   | 293 |   |   |   | 293 |   |
|    Mortgage      loans receivable,       net      of      discount                                          |   |                | 4,155   |   |   |   | 4,289 |   |   |   | 4,174 |   |   |   | 4,189 |   |
| Financial      Liabilities                                                                                                                                                                                                                                                                                                                                                 |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Mortgage notes      payable                                                                                                                                                                                                                                                                                                                              |   |                | 602,949 |   |   |   | 610,252 |   |   |   | 585,806 |   |   |   | 555,096 |   |
|    Notes payable      to      banks                                                                                                            |   |                | 89,156  |   |   |   | 84,627 |   |   |   | 109,886 |   |   |   | 101,484 |   |

----

|                        | /s/      KPMG LLP |
|-----------------------------|-------------------|
| Jackson,      Mississippi   |              |
| February      26,      2010 |              |

----

| SCHEDULE      III                                            |
|--------------------------------------------------------------|
| REAL      ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION     |
| DECEMBER      31, 2009 (In thousands,      except footnotes) |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   | Initial      Cost to the Company |   |   |   |   |   | Gross      Amount at which Carried at Close of Period |   |   |   |   |   |   |   |   |   |   |
| Description                                                  |   | Encumbrances |   |   | Land |   |   | Buildings      and Improvements |   |   | Costs      Capitalized Subsequent to Acquisition |   |   | Land |   |   | Buildings      and Improvements |   |   | Total |   |   | Accumulated      Depreciation Dec. 31, 2009 |   |   | Year      Acquired |   |   | Year      Constructed |   |
| Real      Estate Properties (c):                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Industrial:                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FLORIDA                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Jacksonville                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deerwood      Distribution Center                            |   | $ | - |   |   |   | 1,147 |   |   |   | 1,799 |   |   |   | 1,468 |   |   |   | 1,147 |   |   |   | 3,267 |   |   |   | 4,414 |   |   |   | 1,653 |   |   |   | 1989 |   |   |   | 1978 |   |
| Phillips      Distribution Center                            |   |   | - |   |   |   | 1,375 |   |   |   | 2,961 |   |   |   | 3,613 |   |   |   | 1,375 |   |   |   | 6,574 |   |   |   | 7,949 |   |   |   | 3,337 |   |   |   | 1994 |   |   |   | 1984/95 |   |
| Lake      Pointe Business Park (l)                           |   |   | 15,434 |   |   |   | 3,442 |   |   |   | 6,450 |   |   |   | 4,895 |   |   |   | 3,442 |   |   |   | 11,345 |   |   |   | 14,787 |   |   |   | 6,552 |   |   |   | 1993 |   |   |   | 1986/87 |   |
| Ellis      Distribution Center                               |   |   | - |   |   |   | 540 |   |   |   | 7,513 |   |   |   | 901 |   |   |   | 540 |   |   |   | 8,414 |   |   |   | 8,954 |   |   |   | 2,850 |   |   |   | 1997 |   |   |   | 1977 |   |
| Westside      Distribution Center                            |   |   | - |   |   |   | 1,170 |   |   |   | 12,400 |   |   |   | 3,932 |   |   |   | 1,170 |   |   |   | 16,332 |   |   |   | 17,502 |   |   |   | 6,526 |   |   |   | 1997 |   |   |   | 1984 |   |
| Beach      Commerce Center                                   |   |   | - |   |   |   | 476 |   |   |   | 1,899 |   |   |   | 559 |   |   |   | 476 |   |   |   | 2,458 |   |   |   | 2,934 |   |   |   | 859 |   |   |   | 2000 |   |   |   | 2000 |   |
| Interstate      Distribution Center                          |   |   | 4,493 |   |   |   | 1,879 |   |   |   | 5,700 |   |   |   | 816 |   |   |   | 1,879 |   |   |   | 6,516 |   |   |   | 8,395 |   |   |   | 1,940 |   |   |   | 2005 |   |   |   | 1990 |   |
| 12th      Street Distribution Center                         |   |   | - |   |   |   | 841 |   |   |   | 2,974 |   |   |   | 1,356 |   |   |   | 841 |   |   |   | 4,330 |   |   |   | 5,171 |   |   |   | 101 |   |   |   | 2008 |   |   |   | 1985 |   |
| Orlando                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Chancellor      Center                                       |   |   | - |   |   |   | 291 |   |   |   | 1,711 |   |   |   | 145 |   |   |   | 291 |   |   |   | 1,856 |   |   |   | 2,147 |   |   |   | 778 |   |   |   | 1996/97 |   |   |   | 1996/97 |   |
| Exchange      Distribution Center I                          |   |   | - |   |   |   | 603 |   |   |   | 2,414 |   |   |   | 1,576 |   |   |   | 603 |   |   |   | 3,990 |   |   |   | 4,593 |   |   |   | 2,277 |   |   |   | 1994 |   |   |   | 1975 |   |
| Exchange      Distribution Center II                         |   |   | - |   |   |   | 300 |   |   |   | 945 |   |   |   | 76 |   |   |   | 300 |   |   |   | 1,021 |   |   |   | 1,321 |   |   |   | 412 |   |   |   | 2002 |   |   |   | 1976 |   |
| Exchange      Distribution Center III                        |   |   | - |   |   |   | 320 |   |   |   | 997 |   |   |   | 17 |   |   |   | 320 |   |   |   | 1,014 |   |   |   | 1,334 |   |   |   | 400 |   |   |   | 2002 |   |   |   | 1980 |   |
| Sunbelt      Distribution Center (j)                         |   |   | 7,262 |   |   |   | 1,474 |   |   |   | 5,745 |   |   |   | 4,640 |   |   |   | 1,474 |   |   |   | 10,385 |   |   |   | 11,859 |   |   |   | 5,346 |   |   | 1989/97/98 |   |   | 1974/87/97/98 |   |
| John      Young Commerce Center I                            |   |   | - |   |   |   | 497 |   |   |   | 2,444 |   |   |   | 622 |   |   |   | 497 |   |   |   | 3,066 |   |   |   | 3,563 |   |   |   | 1,187 |   |   |   | 1997/98 |   |   |   | 1997/98 |   |
| John      Young Commerce Center II                           |   |   | - |   |   |   | 512 |   |   |   | 3,613 |   |   |   | 145 |   |   |   | 512 |   |   |   | 3,758 |   |   |   | 4,270 |   |   |   | 1,667 |   |   |   | 1998 |   |   |   | 1999 |   |
| Altamonte      Commerce Center I                             |   |   | - |   |   |   | 1,518 |   |   |   | 2,661 |   |   |   | 1,590 |   |   |   | 1,518 |   |   |   | 4,251 |   |   |   | 5,769 |   |   |   | 2,077 |   |   |   | 1999 |   |   |   | 1980/82 |   |
| Altamonte      Commerce Center II                            |   |   | - |   |   |   | 745 |   |   |   | 2,618 |   |   |   | 745 |   |   |   | 745 |   |   |   | 3,363 |   |   |   | 4,108 |   |   |   | 1,032 |   |   |   | 2003 |   |   |   | 1975 |   |
| Sunport      Center I                                        |   |   | - |   |   |   | 555 |   |   |   | 1,977 |   |   |   | 610 |   |   |   | 555 |   |   |   | 2,587 |   |   |   | 3,142 |   |   |   | 961 |   |   |   | 1999 |   |   |   | 1999 |   |
| Sunport      Center II                                       |   |   | - |   |   |   | 597 |   |   |   | 3,271 |   |   |   | 1,316 |   |   |   | 597 |   |   |   | 4,587 |   |   |   | 5,184 |   |   |   | 2,355 |   |   |   | 1999 |   |   |   | 2001 |   |
| Sunport      Center III                                      |   |   | - |   |   |   | 642 |   |   |   | 3,121 |   |   |   | 451 |   |   |   | 642 |   |   |   | 3,572 |   |   |   | 4,214 |   |   |   | 1,365 |   |   |   | 1999 |   |   |   | 2002 |   |
| Sunport      Center IV                                       |   |   | - |   |   |   | 642 |   |   |   | 2,917 |   |   |   | 600 |   |   |   | 642 |   |   |   | 3,517 |   |   |   | 4,159 |   |   |   | 960 |   |   |   | 1999 |   |   |   | 2004 |   |
| Sunport      Center V                                        |   |   | - |   |   |   | 750 |   |   |   | 2,509 |   |   |   | 1,866 |   |   |   | 750 |   |   |   | 4,375 |   |   |   | 5,125 |   |   |   | 1,372 |   |   |   | 1999 |   |   |   | 2005 |   |
| Sunport      Center VI                                       |   |   | - |   |   |   | 672 |   |   |   | - |   |   |   | 3,313 |   |   |   | 672 |   |   |   | 3,313 |   |   |   | 3,985 |   |   |   | 544 |   |   |   | 1999 |   |   |   | 2006 |   |
| Southridge      I                                            |   |   | - |   |   |   | 373 |   |   |   | - |   |   |   | 4,452 |   |   |   | 373 |   |   |   | 4,452 |   |   |   | 4,825 |   |   |   | 1,306 |   |   |   | 2003 |   |   |   | 2006 |   |
| Southridge      II                                           |   |   | - |   |   |   | 342 |   |   |   | - |   |   |   | 4,160 |   |   |   | 342 |   |   |   | 4,160 |   |   |   | 4,502 |   |   |   | 793 |   |   |   | 2003 |   |   |   | 2007 |   |
| Southridge      III                                          |   |   | - |   |   |   | 547 |   |   |   | - |   |   |   | 4,907 |   |   |   | 547 |   |   |   | 4,907 |   |   |   | 5,454 |   |   |   | 486 |   |   |   | 2003 |   |   |   | 2007 |   |
| Southridge      IV                                           |   |   | - |   |   |   | 506 |   |   |   | - |   |   |   | 4,333 |   |   |   | 506 |   |   |   | 4,333 |   |   |   | 4,839 |   |   |   | 659 |   |   |   | 2003 |   |   |   | 2006 |   |
| Southridge      V                                            |   |   | - |   |   |   | 382 |   |   |   | - |   |   |   | 4,158 |   |   |   | 382 |   |   |   | 4,158 |   |   |   | 4,540 |   |   |   | 892 |   |   |   | 2003 |   |   |   | 2006 |   |
| Southridge      VI                                           |   |   | - |   |   |   | 571 |   |   |   | - |   |   |   | 4,759 |   |   |   | 571 |   |   |   | 4,759 |   |   |   | 5,330 |   |   |   | 493 |   |   |   | 2003 |   |   |   | 2007 |   |
| Southridge      VII                                          |   |   | - |   |   |   | 520 |   |   |   | - |   |   |   | 6,039 |   |   |   | 520 |   |   |   | 6,039 |   |   |   | 6,559 |   |   |   | 505 |   |   |   | 2003 |   |   |   | 2008 |   |
| Southridge      VIII                                         |   |   | - |   |   |   | 531 |   |   |   | - |   |   |   | 6,240 |   |   |   | 531 |   |   |   | 6,240 |   |   |   | 6,771 |   |   |   | 148 |   |   |   | 2003 |   |   |   | 2008 |   |
| Southridge      XII (p)                                      |   |   | 14,558 |   |   |   | 2,025 |   |   |   | - |   |   |   | 16,816 |   |   |   | 2,025 |   |   |   | 16,816 |   |   |   | 18,841 |   |   |   | 849 |   |   |   | 2005 |   |   |   | 2008 |   |
| Tampa                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 56th      Street Commerce Park                               |   |   | - |   |   |   | 843 |   |   |   | 3,567 |   |   |   | 2,851 |   |   |   | 843 |   |   |   | 6,418 |   |   |   | 7,261 |   |   |   | 3,737 |   |   |   | 1993 |   |   | 1981/86/97 |   |
| Jetport      Commerce Park                                   |   |   | - |   |   |   | 1,575 |   |   |   | 6,591 |   |   |   | 3,199 |   |   |   | 1,575 |   |   |   | 9,790 |   |   |   | 11,365 |   |   |   | 5,271 |   |   |   | 1993-99 |   |   |   | 1974-85 |   |
| Westport      Commerce Center                                |   |   | - |   |   |   | 980 |   |   |   | 3,800 |   |   |   | 2,223 |   |   |   | 980 |   |   |   | 6,023 |   |   |   | 7,003 |   |   |   | 3,119 |   |   |   | 1994 |   |   |   | 1983/87 |   |
| Benjamin      Distribution Center I & II                 |   |   | - |   |   |   | 843 |   |   |   | 3,963 |   |   |   | 922 |   |   |   | 883 |   |   |   | 4,845 |   |   |   | 5,728 |   |   |   | 2,234 |   |   |   | 1997 |   |   |   | 1996 |   |
| Benjamin      Distribution Center III                        |   |   | - |   |   |   | 407 |   |   |   | 1,503 |   |   |   | 321 |   |   |   | 407 |   |   |   | 1,824 |   |   |   | 2,231 |   |   |   | 1,157 |   |   |   | 1999 |   |   |   | 1988 |   |
| Palm      River Center                                       |   |   | - |   |   |   | 1,190 |   |   |   | 4,625 |   |   |   | 1,342 |   |   |   | 1,190 |   |   |   | 5,967 |   |   |   | 7,157 |   |   |   | 2,912 |   |   |   | 1997/98 |   |   | 1990/97/98 |   |
| Palm      River North I & III (k)                        |   |   | 5,403 |   |   |   | 1,005 |   |   |   | 4,688 |   |   |   | 1,996 |   |   |   | 1,005 |   |   |   | 6,684 |   |   |   | 7,689 |   |   |   | 2,492 |   |   |   | 1998 |   |   |   | 2000 |   |
| Palm      River North II (k)                                 |   |   | 4,958 |   |   |   | 634 |   |   |   | 4,418 |   |   |   | 339 |   |   |   | 634 |   |   |   | 4,757 |   |   |   | 5,391 |   |   |   | 1,971 |   |   |   | 1997/98 |   |   |   | 1999 |   |
| Palm      River South I                                      |   |   | - |   |   |   | 655 |   |   |   | 3,187 |   |   |   | 350 |   |   |   | 655 |   |   |   | 3,537 |   |   |   | 4,192 |   |   |   | 967 |   |   |   | 2000 |   |   |   | 2005 |   |
| Palm      River South II                                     |   |   | - |   |   |   | 655 |   |   |   | - |   |   |   | 4,264 |   |   |   | 655 |   |   |   | 4,264 |   |   |   | 4,919 |   |   |   | 1,081 |   |   |   | 2000 |   |   |   | 2006 |   |
| Walden      Distribution Center I                            |   |   | - |   |   |   | 337 |   |   |   | 3,318 |   |   |   | 329 |   |   |   | 337 |   |   |   | 3,647 |   |   |   | 3,984 |   |   |   | 1,328 |   |   |   | 1997/98 |   |   |   | 2001 |   |
| Walden      Distribution Center II                           |   |   | - |   |   |   | 465 |   |   |   | 3,738 |   |   |   | 571 |   |   |   | 465 |   |   |   | 4,309 |   |   |   | 4,774 |   |   |   | 1,743 |   |   |   | 1998 |   |   |   | 1998 |   |
| Oak      Creek Distribution Center I                         |   |   | - |   |   |   | 1,109 |   |   |   | 6,126 |   |   |   | 365 |   |   |   | 1,109 |   |   |   | 6,491 |   |   |   | 7,600 |   |   |   | 2,137 |   |   |   | 1998 |   |   |   | 1998 |   |
| Oak      Creek Distribution Center II                        |   |   | - |   |   |   | 647 |   |   |   | 3,603 |   |   |   | 500 |   |   |   | 647 |   |   |   | 4,103 |   |   |   | 4,750 |   |   |   | 1,235 |   |   |   | 2003 |   |   |   | 2001 |   |
| Oak      Creek Distribution Center III                       |   |   | - |   |   |   | 439 |   |   |   | - |   |   |   | 3,151 |   |   |   | 556 |   |   |   | 3,034 |   |   |   | 3,590 |   |   |   | 471 |   |   |   | 2005 |   |   |   | 2007 |   |
| Oak      Creek Distribution Center IV                        |   |   | 3,838 |   |   |   | 805 |   |   |   | 6,472 |   |   |   | (2 | ) |   |   | 805 |   |   |   | 6,470 |   |   |   | 7,275 |   |   |   | 1,165 |   |   |   | 2005 |   |   |   | 2001 |   |
| Oak      Creek Distribution Center V                         |   |   | - |   |   |   | 724 |   |   |   | - |   |   |   | 5,684 |   |   |   | 916 |   |   |   | 5,492 |   |   |   | 6,408 |   |   |   | 536 |   |   |   | 2005 |   |   |   | 2007 |   |
| Oak      Creek Distribution Center VI                        |   |   | - |   |   |   | 642 |   |   |   | - |   |   |   | 5,014 |   |   |   | 812 |   |   |   | 4,844 |   |   |   | 5,656 |   |   |   | 207 |   |   |   | 2005 |   |   |   | 2008 |   |
| Oak      Creek Distribution Center A                         |   |   |  - |   |   |   | 185 |   |   |   | - |   |   |   | 1,326 |   |   |   | 185 |   |   |   | 1,326 |   |   |   | 1,511 |   |   |   | 31 |   |   |   | 2005 |   |   |   | 2008 |   |

----

| Oak      Creek Distribution Center B      |   |  - |   |   |   | 227    |   |   |   | -      |   |   |   | 1,485  |   |   |   | 227    |   |   |   | 1,485  |        |   |   | 1,712  |        |   |   | 50     |        |   |   | 2005   |       |   |   | 2008       |       |
|-------------------------------------------|--------|---------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-------------|--------|--------|--------|-------------|--------|--------|--------|-------------|--------|--------|--------|------------|--------|--------|------------|------------|
| Airport      Commerce Center              |   |    | -      |   |   |   | 1,257  |   |   |   | 4,012  |   |   |   | 712    |   |   |   | 1,257  |   |   |   | 4,724       |   |   |   | 5,981       |   |   |   | 1,702       |   |   |   | 1998       |   |   |       | 1998       |   |
| Westlake      Distribution Center (k)     |   |    | 6,884  |   |   |   | 1,333  |   |   |   | 6,998  |   |   |   | 1,018  |   |   |   | 1,333  |   |   |   | 8,016       |   |   |   | 9,349       |   |   |   | 3,391       |   |   |   | 1998       |   |   |       | 1998/99    |   |
| Expressway      Commerce Center I         |   |    | -      |   |   |   | 915    |   |   |   | 5,346  |   |   |   | 349    |   |   |   | 915    |   |   |   | 5,695       |   |   |   | 6,610       |   |   |   | 1,587       |   |   |   | 2002       |   |   |       | 2004       |   |
| Expressway      Commerce Center II        |   |    | -      |   |   |   | 1,013  |   |   |   | 3,247  |   |   |   | 183    |   |   |   | 1,013  |   |   |   |  3,430 |   |   |   |  4,443 |   |   |   |  1,108 |   |   |   |  2003 |   |   |       |  2001 |   |
| Fort      Myers                           |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| SunCoast      I                           |   |    | -      |   |   |   | 911    |   |   |   | -      |   |   |   | 4,660  |   |   |   | 928    |   |   |   | 4,643       |   |   |   | 5,571       |   |   |   | 336         |   |   |   | 2005       |   |   |       | 2008       |   |
| SunCoast      II                          |   |    | -      |   |   |   | 911    |   |   |   | -      |   |   |   | 4,731  |   |   |   | 928    |   |   |   | 4,714       |   |   |   | 5,642       |   |   |   | 544         |   |   |   | 2005       |   |   |       | 2007       |   |
| SunCoast      III                         |   |    | -      |   |   |   | 1,720  |   |   |   | -      |   |   |   | 5,235  |   |   |   | 1,763  |   |   |   | 5,192       |   |   |   | 6,955       |   |   |   | 65          |   |   |   | 2006       |   |   |       | 2008       |   |
| Fort      Lauderdale/Pompano Beach area   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| Linpro      Commerce Center               |   |    | -      |   |   |   | 613    |   |   |   | 2,243  |   |   |   | 1,247  |   |   |   | 616    |   |   |   | 3,487       |   |   |   | 4,103       |   |   |   | 2,065       |   |   |   | 1996       |   |   |       | 1986       |   |
| Cypress      Creek Business Park          |   |    | -      |   |   |   | -      |   |   |   | 2,465  |   |   |   | 1,365  |   |   |   | -      |   |   |   | 3,830       |   |   |   | 3,830       |   |   |   | 1,805       |   |   |   | 1997       |   |   |       | 1986       |   |
| Lockhart      Distribution Center         |   |    | -      |   |   |   | -      |   |   |   | 3,489  |   |   |   | 2,018  |   |   |   | -      |   |   |   | 5,507       |   |   |   | 5,507       |   |   |   | 2,441       |   |   |   | 1997       |   |   |       | 1986       |   |
| Interstate      Commerce Center           |   |    | -      |   |   |   | 485    |   |   |   | 2,652  |   |   |   | 601    |   |   |   | 485    |   |   |   | 3,253       |   |   |   | 3,738       |   |   |   | 1,461       |   |   |   | 1998       |   |   |       | 1988       |   |
| Sample      95 Business Park              |   |    | -      |   |   |   | 2,202  |   |   |   | 8,785  |   |   |   | 2,159  |   |   |   | 2,202  |   |   |   | 10,944      |   |   |   | 13,146      |   |   |   | 4,748       |   |   |   | 1996/98    |   |   |       | 1990/99    |   |
| Blue      Heron Distribution Center       |   |    | -      |   |   |   | 975    |   |   |   | 3,626  |   |   |   | 1,619  |   |   |   | 975    |   |   |   | 5,245       |   |   |   | 6,220       |   |   |   | 2,065       |   |   |   | 1999       |   |   |       | 1986       |   |
| Blue      Heron Distribution Center II    |   |    | 1,524  |   |   |   | 1,385  |   |   |   | 4,222  |   |   |   | 764    |   |   |   | 1,385  |   |   |   | 4,986       |   |   |   | 6,371       |   |   |   | 1,379       |   |   |   | 2004       |   |   |       | 1988       |   |
| Executive      Airport Commerce Ctr       |   |    | -      |   |   |   | 1,991  |   |   |   | 4,857  |   |   |   | 4,787  |   |   |   | 1,991  |   |   |   | 9,644       |   |   |   | 11,635      |   |   |   | 2,321       |   |   |   | 2001       |   |   |       | 2004/06    |   |
| NORTH      CAROLINA                       |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| Charlotte                                 |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| NorthPark      Business Park (f)          |   |    | 17,607 |   |   |   | 2,758  |   |   |   | 15,932 |   |   |   | 384    |   |   |   | 2,758  |   |   |   | 16,316      |   |   |   | 19,074      |   |   |   | 3,273       |   |   |   | 2006       |   |   |       | 1987-89    |   |
| Commerce      Park 1 (o)             |   |    | 4,491  |   |   |   | 765    |   |   |   | 4,303  |   |   |   | 290    |   |   |   | 765    |   |   |   | 4,593       |   |   |   | 5,358       |   |   |   | 610         |   |   |   | 2007       |   |   |       | 1983       |   |
| Lindbergh      Business Park              |   |    | -      |   |   |   | 470    |   |   |   | 3,401  |   |   |   | 186    |   |   |   | 470    |   |   |   | 3,587       |   |   |   | 4,057       |   |   |   | 583         |   |   |   | 2007       |   |   |       | 2001/03    |   |
| Nations      Ford Business Park (o)       |   |    | 17,021 |   |   |   | 3,924  |   |   |   | 16,171 |   |   |   | 212    |   |   |   | 3,924  |   |   |   | 16,383      |   |   |   | 20,307      |   |   |   | 3,439       |   |   |   | 2007       |   |   |       | 1989/94    |   |
| Airport      Commerce Center (p)          |   |    | 8,997  |   |   |   | 1,454  |   |   |   | 10,136 |   |   |   | 55     |   |   |   | 1,454  |   |   |   | 10,191      |   |   |   | 11,645      |   |   |   | 757         |   |   |   | 2008       |   |   |       | 2001/02    |   |
| Interchange      Park (p)                 |   |    | 6,907  |   |   |   | 986    |   |   |   | 7,949  |   |   |   | 5      |   |   |   | 986    |   |   |   | 7,954       |   |   |   | 8,940       |   |   |   | 633         |   |   |   | 2008       |   |   |       | 1989       |   |
| Ridge      Creek Distribution Center (p)  |   |    | 11,449 |   |   |   | 1,284  |   |   |   | 13,163 |   |   |   | 371    |   |   |   | 1,284  |   |   |   | 13,534      |   |   |   | 14,818      |   |   |   | 771         |   |   |   | 2008       |   |   |       | 2006       |   |
| Waterford      Distribution Center (p)    |   |    | 3,128  |   |   |   | 654    |   |   |   | 3,392  |   |   |   | 3      |   |   |   | 654    |   |   |   | 3,395       |   |   |   | 4,049       |   |   |   | 185         |   |   |   | 2008       |   |   |       | 2000       |   |
| CALIFORNIA                                |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| San      Francisco area                   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| Wiegman      Distribution Center (m)      |   |    | 12,942 |   |   |   | 2,197  |   |   |   | 8,788  |   |   |   | 1,411  |   |   |   | 2,308  |   |   |   | 10,088      |   |   |   | 12,396      |   |   |   | 3,593       |   |   |   | 1996       |   |   |       | 1986/87    |   |
| Huntwood      Distribution Center (m)     |   |    | 21,409 |   |   |   | 3,842  |   |   |   | 15,368 |   |   |   | 1,296  |   |   |   | 3,842  |   |   |   | 16,664      |   |   |   | 20,506      |   |   |   | 6,427       |   |   |   | 1996       |   |   |       | 1988       |   |
| San      Clemente Distribution Center     |   |    | -      |   |   |   | 893    |   |   |   | 2,004  |   |   |   | 837    |   |   |   | 893    |   |   |   | 2,841       |   |   |   | 3,734       |   |   |   | 750         |   |   |   | 1997       |   |   |       | 1978       |   |
| Yosemite      Distribution Center         |   |    | -      |   |   |   | 259    |   |   |   | 7,058  |   |   |   | 992    |   |   |   | 259    |   |   |   | 8,050       |   |   |   | 8,309       |   |   |   | 2,773       |   |   |   | 1999       |   |   |       | 1974/87    |   |
| Los      Angeles area                     |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| Kingsview      Industrial Center (e)      |   |    | 2,894  |   |   |   | 643    |   |   |   | 2,573  |   |   |   | 30     |   |   |   | 643    |   |   |   | 2,603       |   |   |   | 3,246       |   |   |   | 930         |   |   |   | 1996       |   |   |       | 1980       |   |
| Dominguez      Distribution Center (e)    |   |    | 9,987  |   |   |   | 2,006  |   |   |   | 8,025  |   |   |   | 1,170  |   |   |   | 2,006  |   |   |   | 9,195       |   |   |   | 11,201      |   |   |   | 3,902       |   |   |   | 1996       |   |   |       | 1977       |   |
| Main      Street Distribution Center (i)  |   |    | 3,789  |   |   |   | 1,606  |   |   |   | 4,103  |   |   |   | 569    |   |   |   | 1,606  |   |   |   | 4,672       |   |   |   | 6,278       |   |   |   | 1,800       |   |   |   | 1999       |   |   |       | 1999       |   |
| Walnut      Business Center (e)           |   |    | 7,697  |   |   |   | 2,885  |   |   |   | 5,274  |   |   |   | 474    |   |   |   | 2,885  |   |   |   | 5,748       |   |   |   | 8,633       |   |   |   | 2,256       |   |   |   | 1996       |   |   |       | 1966/90    |   |
| Washington      Distribution Center (e)   |   |    | 6,337  |   |   |   | 1,636  |   |   |   | 4,900  |   |   |   | 572    |   |   |   | 1,636  |   |   |   | 5,472       |   |   |   | 7,108       |   |   |   | 1,960       |   |   |   | 1997       |   |   |       | 1996/97    |   |
| Chino      Distribution Center (f)        |   |    | 12,413 |   |   |   | 2,544  |   |   |   | 10,175 |   |   |   | 729    |   |   |   | 2,544  |   |   |   | 10,904      |   |   |   | 13,448      |   |   |   | 3,967       |   |   |   | 1998       |   |   |       | 1980       |   |
| Industry      Distribution Center I (e)   |   |    | 21,078 |   |   |   | 10,230 |   |   |   | 12,373 |   |   |   | 1,038  |   |   |   | 10,230 |   |   |   | 13,411      |   |   |   | 23,641      |   |   |   | 4,956       |   |   |   | 1998       |   |   |       | 1959       |   |
| Industry      Distribution Center III (e) |   |    | 2,495  |   |   |   | -      |   |   |   | 3,012  |   |   |   | (214   | )      |   |   | -      |   |   |   | 2,798       |   |   |   | 2,798       |   |   |   | 1,827       |   |   |   | 2007       |   |   |       | 1992       |   |
| Chestnut      Business Center (i)         |   |    | 3,187  |   |   |   | 1,674  |   |   |   | 3,465  |   |   |   | 142    |   |   |   | 1,674  |   |   |   | 3,607       |   |   |   | 5,281       |   |   |   | 1,165       |   |   |   | 1998       |   |   |       | 1999       |   |
| Los      Angeles Corporate Center         |   |    | -      |   |   |   | 1,363  |   |   |   | 5,453  |   |   |   | 1,965  |   |   |   | 1,363  |   |   |   | 7,418       |   |   |   | 8,781       |   |   |   | 3,178       |   |   |   | 1996       |   |   |       | 1986       |   |
| Santa      Barbara                        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| University      Business Center           |   |    | 13,209 |   |   |   | 5,517  |   |   |   | 22,067 |   |   |   | 3,927  |   |   |   | 5,520  |   |   |   | 25,991      |   |   |   | 31,511      |   |   |   | 9,955       |   |   |   | 1996       |   |   |       | 1987/88    |   |
| Castilian      Research Center            |   |    | -      |   |   |   | 2,719  |   |   |   | 1,410  |   |   |   | 4,827  |   |   |   | 2,719  |   |   |   | 6,237       |   |   |   | 8,956       |   |   |   | 422         |   |   |   | 2005       |   |   |       | 2007       |   |
| Fresno                                    |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| Shaw      Commerce Center (e)             |   |    | 15,649 |   |   |   | 2,465  |   |   |   | 11,627 |   |   |   | 3,460  |   |   |   | 2,465  |   |   |   | 15,087      |   |   |   | 17,552      |   |   |   | 6,039       |   |   |   | 1998       |   |   | 1978/81/87 |       |
| San      Diego                            |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |        |   |   |   |        |   |   |   |        |   |   |   |       |   |   |       |       |   |
| Eastlake      Distribution Center (o)     |   |    | 9,399  |   |   |   | 3,046  |   |   |   | 6,888  |   |   |   | 1,279  |   |   |   | 3,046  |   |   |   | 8,167       |   |   |   | 11,213      |   |   |   | 3,250       |   |   |   | 1997       |   |   |       | 1989       |   |

----

| TEXAS                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|---------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Dallas                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interstate      Distribution Center  I & II (h) |   |   | 4,439  |   |   |   | 1,746  |   |   |   | 4,941  |   |   |   | 1,821  |   |   |   | 1,746  |   |   |   | 6,762  |   |   |   | 8,508  |   |   |   | 4,319 |   |   |   | 1988 |   |   |   | 1978 |   |
| Interstate      Distribution Center III (h)                   |   |   | 1,673  |   |   |   | 519    |   |   |   | 2,008  |   |   |   | 680    |   |   |   | 519    |   |   |   | 2,688  |   |   |   | 3,207  |   |   |   | 1,116 |   |   |   | 2000 |   |   |   | 1979 |   |
| Interstate      Distribution Center IV                        |   |   | -      |   |   |   | 416    |   |   |   | 2,481  |   |   |   | 128    |   |   |   | 416    |   |   |   | 2,609  |   |   |   | 3,025  |   |   |   | 735 |   |   |   | 2004 |   |   |   | 2002 |   |
| Interstate      Distribution Center V, VI, & VII          |   |   | -      |   |   |   | 1,824  |   |   |   | 4,106  |   |   |   | 68     |   |   |   | 1,824  |   |   |   | 4,174  |   |   |   | 5,998  |   |   |   | 219 |   |   |   | 2009 |   |   | 1979/80/81 |   |
| Venture      Warehouses (h)                                   |   |   | 3,591  |   |   |   | 1,452  |   |   |   | 3,762  |   |   |   | 1,668  |   |   |   | 1,452  |   |   |   | 5,430  |   |   |   | 6,882  |   |   |   | 3,280 |   |   |   | 1988 |   |   |   | 1979 |   |
| Stemmons      Circle (h)                                      |   |   | 1,426  |   |   |   | 363    |   |   |   | 2,014  |   |   |   | 355    |   |   |   | 363    |   |   |   | 2,369  |   |   |   | 2,732  |   |   |   | 1,170 |   |   |   | 1998 |   |   |   | 1977 |   |
| Ambassador      Row Warehouses                                |   |   | -      |   |   |   | 1,156  |   |   |   | 4,625  |   |   |   | 1,587  |   |   |   | 1,156  |   |   |   | 6,212  |   |   |   | 7,368  |   |   |   | 3,290 |   |   |   | 1998 |   |   |   | 1958/65 |   |
| North      Stemmons II                                        |   |   | -      |   |   |   | 150    |   |   |   | 583    |   |   |   | 183    |   |   |   | 150    |   |   |   | 766    |   |   |   | 916    |   |   |   | 288 |   |   |   | 2002 |   |   |   | 1971 |   |
| North      Stemmons III                                       |   |   | -      |   |   |   | 380    |   |   |   | 2,066  |   |   |   | 2      |   |   |   | 380    |   |   |   | 2,068  |   |   |   | 2,448  |   |   |   | 189 |   |   |   | 2007 |   |   |   | 1974 |   |
| Shady      Trail Distribution Center (k)                      |   |   | 3,069  |   |   |   | 635    |   |   |   | 3,621  |   |   |   | 468    |   |   |   | 635    |   |   |   | 4,089  |   |   |   | 4,724  |   |   |   | 977 |   |   |   | 2003 |   |   |   | 1998 |   |
| Houston                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Northwest      Point Business Park (j)                        |   |   | 6,035  |   |   |   | 1,243  |   |   |   | 5,640  |   |   |   | 2,970  |   |   |   | 1,243  |   |   |   | 8,610  |   |   |   | 9,853  |   |   |   | 4,446 |   |   |   | 1994 |   |   |   | 1984/85 |   |
| Lockwood      Distribution Center (j)                         |   |   | 4,911  |   |   |   | 749    |   |   |   | 5,444  |   |   |   | 1,827  |   |   |   | 749    |   |   |   | 7,271  |   |   |   | 8,020  |   |   |   | 2,669 |   |   |   | 1997 |   |   |   | 1968/69 |   |
| West      Loop Distribution Center (h)                        |   |   | 3,738  |   |   |   | 905    |   |   |   | 4,383  |   |   |   | 1,877  |   |   |   | 905    |   |   |   | 6,260  |   |   |   | 7,165  |   |   |   | 2,734 |   |   |   | 1997/2000 |   |   |   | 1980 |   |
| World      Houston Int'l Business Ctr 1 & 2 (f)           |   |   | 7,041  |   |   |   | 660    |   |   |   | 5,893  |   |   |   | 1,075  |   |   |   | 660    |   |   |   | 6,968  |   |   |   | 7,628  |   |   |   | 3,001 |   |   |   | 1998 |   |   |   | 1996 |   |
| World      Houston Int'l Business Ctr 3, 4 & 5 (g)        |   |   | 4,726  |   |   |   | 1,025  |   |   |   | 6,413  |   |   |   | 328    |   |   |   | 1,025  |   |   |   | 6,741  |   |   |   | 7,766  |   |   |   | 2,924 |   |   |   | 1998 |   |   |   | 1998 |   |
| World      Houston Int'l Business Ctr 6 (g)                   |   |   | 2,140  |   |   |   | 425    |   |   |   | 2,423  |   |   |   | 373    |   |   |   | 425    |   |   |   | 2,796  |   |   |   | 3,221  |   |   |   | 1,004 |   |   |   | 1998 |   |   |   | 1998 |   |
| World      Houston Int'l Business Ctr 7 & 8 (g)           |   |   | 5,439  |   |   |   | 680    |   |   |   | 4,584  |   |   |   | 3,309  |   |   |   | 680    |   |   |   | 7,893  |   |   |   | 8,573  |   |   |   | 3,328 |   |   |   | 1998 |   |   |   | 1998 |   |
| World      Houston Int'l Business Ctr 9 (g)                   |   |   | 4,726  |   |   |   | 800    |   |   |   | 4,355  |   |   |   | 1,460  |   |   |   | 800    |   |   |   | 5,815  |   |   |   | 6,615  |   |   |   | 1,637 |   |   |   | 1998 |   |   |   | 1998 |   |
| World      Houston Int'l Business Ctr 10 (j)                  |   |   | 3,675  |   |   |   | 933    |   |   |   | 4,779  |   |   |   | 289    |   |   |   | 933    |   |   |   | 5,068  |   |   |   | 6,001  |   |   |   | 1,412 |   |   |   | 2001 |   |   |   | 1999 |   |
| World      Houston Int'l Business Ctr 11 (j)                  |   |   | 3,251  |   |   |   | 638    |   |   |   | 3,764  |   |   |   | 906    |   |   |   | 638    |   |   |   | 4,670  |   |   |   | 5,308  |   |   |   | 1,493 |   |   |   | 1999 |   |   |   | 1999 |   |
| World      Houston Int'l Business Ctr 12 (i)                  |   |   | 1,784  |   |   |   | 340    |   |   |   | 2,419  |   |   |   | 198    |   |   |   | 340    |   |   |   | 2,617  |   |   |   | 2,957  |   |   |   | 964 |   |   |   | 2000 |   |   |   | 2002 |   |
| World      Houston Int'l Business Ctr 13 (i)                  |   |   | 1,845  |   |   |   | 282    |   |   |   | 2,569  |   |   |   | 206    |   |   |   | 282    |   |   |   | 2,775  |   |   |   | 3,057  |   |   |   | 1,432 |   |   |   | 2000 |   |   |   | 2002 |   |
| World      Houston Int'l Business Ctr 14 (j)                  |   |   | 2,297  |   |   |   | 722    |   |   |   | 2,629  |   |   |   | 400    |   |   |   | 722    |   |   |   | 3,029  |   |   |   | 3,751  |   |   |   | 1,146 |   |   |   | 2000 |   |   |   | 2003 |   |
| World      Houston Int'l Business Ctr 15 (o)                  |   |   | 5,346  |   |   |   | 731    |   |   |   | -      |   |   |   | 5,647  |   |   |   | 731    |   |   |   | 5,647  |   |   |   | 6,378  |   |   |   | 1,137 |   |   |   | 2000 |   |   |   | 2007 |   |
| World      Houston Int'l Business Ctr 16 (n)                  |   |   | 4,464  |   |   |   | 519    |   |   |   | 4,248  |   |   |   | 159    |   |   |   | 519    |   |   |   | 4,407  |   |   |   | 4,926  |   |   |   | 1,231 |   |   |   | 2000 |   |   |   | 2005 |   |
| World      Houston Int'l Business Ctr 17 (k)                  |   |   | 2,682  |   |   |   | 373    |   |   |   | 1,945  |   |   |   | 758    |   |   |   | 373    |   |   |   | 2,703  |   |   |   | 3,076  |   |   |   | 551 |   |   |   | 2000 |   |   |   | 2004 |   |
| World      Houston Int'l Business Ctr 18                      |   |   | -      |   |   |   | 323    |   |   |   | 1,512  |   |   |   | 27     |   |   |   | 323    |   |   |   | 1,539  |   |   |   | 1,862  |   |   |   | 365 |   |   |   | 2005 |   |   |   | 1995 |   |
| World      Houston Int'l Business Ctr 19 (l)                  |   |   | 3,613  |   |   |   | 373    |   |   |   | 2,256  |   |   |   | 833    |   |   |   | 373    |   |   |   | 3,089  |   |   |   | 3,462  |   |   |   | 1,218 |   |   |   | 2000 |   |   |   | 2004 |   |
| World      Houston Int'l Business Ctr 20 (l)                  |   |   | 4,271  |   |   |   | 1,008  |   |   |   | 1,948  |   |   |   | 1,136  |   |   |   | 1,008  |   |   |   | 3,084  |   |   |   | 4,092  |   |   |   | 1,057 |   |   |   | 2000 |   |   |   | 2004 |   |
| World      Houston Int'l Business Ctr 21 (f)                  |   |   | 3,609  |   |   |   | 436    |   |   |   | -      |   |   |   | 3,474  |   |   |   | 436    |   |   |   | 3,474  |   |   |   | 3,910  |   |   |   | 413 |   |   |   | 2000/03 |   |   |   | 2006 |   |
| World      Houston Int'l Business Ctr 22 (o)                  |   |   | 3,894  |   |   |   | 436    |   |   |   | -      |   |   |   | 4,210  |   |   |   | 436    |   |   |   | 4,210  |   |   |   | 4,646  |   |   |   | 510 |   |   |   | 2000 |   |   |   | 2007 |   |
| World      Houston Int'l Business Ctr 23 (f)                  |   |   | 7,325  |   |   |   | 910    |   |   |   | -      |   |   |   | 7,026  |   |   |   | 910    |   |   |   | 7,026  |   |   |   | 7,936  |   |   |   | 756 |   |   |   | 2000 |   |   |   | 2007 |   |
| World      Houston Int'l Business Ctr 24 (p)                  |   |   | 4,821  |   |   |   | 837    |   |   |   | -      |   |   |   | 5,403  |   |   |   | 837    |   |   |   | 5,403  |   |   |   | 6,240  |   |   |   | 502 |   |   |   | 2005 |   |   |   | 2008 |   |
| World      Houston Int'l Business Ctr 25 (p)                  |   |   | 3,185  |   |   |   | 508    |   |   |   | -      |   |   |   | 3,615  |   |   |   | 508    |   |   |   | 3,615  |   |   |   | 4,123  |   |   |   | 219 |   |   |   | 2005 |   |   |   | 2008 |   |
| World      Houston Int'l Business Ctr 26                      |   |   | -      |   |   |   | 445    |   |   |   | -      |   |   |   | 3,145  |   |   |   | 445    |   |   |   | 3,145  |   |   |   | 3,590  |   |   |   | 92 |   |   |   | 2005 |   |   |   | 2008 |   |
| World      Houston Int'l Business Ctr 27 (p)                  |   |   | 4,473  |   |   |   | 837    |   |   |   | -      |   |   |   | 4,953  |   |   |   | 837    |   |   |   | 4,953  |   |   |   | 5,790  |   |   |   | 211 |   |   |   | 2005 |   |   |   | 2008 |   |
| World      Houston Int'l Business Ctr 28                      |   |   | -      |   |   |   | 550    |   |   |   | -      |   |   |   | 4,040  |   |   |   | 550    |   |   |   | 4,040  |   |   |   | 4,590  |   |   |   | 113 |   |   |   | 2005 |   |   |   | 2009 |   |
| World      Houston Int'l Business Ctr 29                      |   |   | -      |   |   |   | 782    |   |   |   | -      |   |   |   | 4,127  |   |   |   | 974    |   |   |   | 3,935  |   |   |   | 4,909  |   |   |   | 69 |   |   |   | 2007 |   |   |   | 2009 |   |
| America      Plaza (g)                                        |   |   | 3,388  |   |   |   | 662    |   |   |   | 4,660  |   |   |   | 613    |   |   |   | 662    |   |   |   | 5,273  |   |   |   | 5,935  |   |   |   | 2,125 |   |   |   | 1998 |   |   |   | 1996 |   |
| Central      Green Distribution Center (g)                    |   |   | 3,032  |   |   |   | 566    |   |   |   | 4,031  |   |   |   | 97     |   |   |   | 566    |   |   |   | 4,128  |   |   |   | 4,694  |   |   |   | 1,599 |   |   |   | 1999 |   |   |   | 1998 |   |
| Glenmont      Business Park (h)                               |   |   | 4,698  |   |   |   | 936    |   |   |   | 6,161  |   |   |   | 1,908  |   |   |   | 937    |   |   |   | 8,068  |   |   |   | 9,005  |   |   |   | 2,941 |   |   |   | 1998 |   |   |   | 1999/2000 |   |
| Techway      Southwest I (j)                                  |   |   | 3,770  |   |   |   | 729    |   |   |   | 3,765  |   |   |   | 1,663  |   |   |   | 729    |   |   |   | 5,428  |   |   |   | 6,157  |   |   |   | 1,747 |   |   |   | 2000 |   |   |   | 2001 |   |
| Techway      Southwest II (l)                                 |   |   | 4,777  |   |   |   | 550    |   |   |   | 3,689  |   |   |   | 338    |   |   |   | 550    |   |   |   | 4,027  |   |   |   | 4,577  |   |   |   | 1,236 |   |   |   | 2000 |   |   |   | 2004 |   |
| Techway      Southwest III (o)                                |   |   | 4,841  |   |   |   | 597    |   |   |   | -      |   |   |   | 5,178  |   |   |   | 751    |   |   |   | 5,024  |   |   |   | 5,775  |   |   |   | 882 |   |   |   | 1999 |   |   |   | 2006 |   |
| Techway      Southwest IV                                     |   |   | -      |   |   |   | 535    |   |   |   | -      |   |   |   | 5,639  |   |   |   | 674    |   |   |   | 5,500  |   |   |   | 6,174  |   |   |   | 173 |   |   |   | 1999 |   |   |   | 2008 |   |
| Beltway      Crossing I (j)                                   |   |   | 4,513  |   |   |   | 458    |   |   |   | 5,712  |   |   |   | 1,200  |   |   |   | 458    |   |   |   | 6,912  |   |   |   | 7,370  |   |   |   | 2,276 |   |   |   | 2002 |   |   |   | 2001 |   |
| Beltway      Crossing II (o)                                  |   |   | 2,653  |   |   |   | 415    |   |   |   | -      |   |   |   | 2,750  |   |   |   | 415    |   |   |   | 2,750  |   |   |   | 3,165  |   |   |   | 361 |   |   |   | 2005 |   |   |   | 2007 |   |
| Beltway      Crossing III  (o)                      |   |   | 2,874  |   |   |   | 460    |   |   |   | -      |   |   |   | 2,969  |   |   |   | 460    |   |   |   | 2,969  |   |   |   | 3,429  |   |   |   | 363 |   |   |   | 2005 |   |   |   | 2008 |   |
| Beltway      Crossing IV  (o)                       |   |   | 2,888  |   |   |   | 460    |   |   |   | -      |   |   |   | 2,985  |   |   |   | 460    |   |   |   | 2,985  |   |   |   | 3,445  |   |   |   | 469 |   |   |   | 2005 |   |   |   | 2008 |   |
| Beltway      Crossing V                                       |   |   | -      |   |   |   | 701    |   |   |   | -      |   |   |   | 4,702  |   |   |   | 701    |   |   |   | 4,702  |   |   |   | 5,403  |   |   |   | 299 |   |   |   | 2005 |   |   |   | 2008 |   |
| Beltway      Crossing VI                                      |   |   | -      |   |   |   | 618    |   |   |   | -      |   |   |   | 5,808  |   |   |   | 618    |   |   |   | 5,808  |   |   |   | 6,426  |   |   |   | 143 |   |   |   | 2005 |   |   |   | 2008 |   |
| Kirby      Business Center (k)                                |   |   | 3,012  |   |   |   | 530    |   |   |   | 3,153  |   |   |   | 313    |   |   |   | 530    |   |   |   | 3,466  |   |   |   | 3,996  |   |   |   | 693 |   |   |   | 2004 |   |   |   | 1980 |   |
| Clay      Campbell Distribution Center                        |   |   | -      |   |   |   | 742    |   |   |   | 2,998  |   |   |   | 361    |   |   |   | 742    |   |   |   | 3,359  |   |   |   | 4,101  |   |   |   | 922 |   |   |   | 2005 |   |   |   | 1982 |   |

----

| El      Paso                                          |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |
|-------------------------------------------------------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|-------------|--------|--------|--------|-----------|--------|--------|--------|-------------|--------|--------|--------|-------------|--------|--------|--------|
| Butterfield      Trail (h)                            |   |   | 13,235  |   |   |   | -      |   |   |   | 20,725  |   |   |   | 4,641       |   |   |   | -         |   |   |   | 25,366      |   |   |   | 25,366      |   |   |   | 11,946 |   |   |   | 1997/2000 |   |   |   | 1987/95 |   |
| Rojas      Commerce Park (h)                          |   |   | 3,534   |   |   |   | 900    |   |   |   | 3,659   |   |   |   | 2,215       |   |   |   | 900       |   |   |   | 5,874       |   |   |   | 6,774       |   |   |   | 3,462 |   |   |   | 1999 |   |   |   | 1986 |   |
| Americas      Ten Business Center I (k)               |   |   | 2,961   |   |   |   | 526    |   |   |   | 2,778   |   |   |   | 1,085       |   |   |   | 526       |   |   |   | 3,863       |   |   |   | 4,389       |   |   |   | 1,440 |   |   |   | 2001 |   |   |   | 2003 |   |
| San      Antonio                                      |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Alamo      Downs Distribution Center (n)              |   |   | 7,450   |   |   |   | 1,342  |   |   |   | 6,338   |   |   |   | 541         |   |   |   | 1,342     |   |   |   | 6,879       |   |   |   | 8,221       |   |   |   | 2,350 |   |   |   | 2004 |   |   |   | 1986/2002 |   |
| Arion      Business Park (n)                          |   |   | 34,167  |   |   |   | 4,143  |   |   |   | 31,432  |   |   |   | 2,127       |   |   |   | 4,143     |   |   |   | 33,559      |   |   |   | 37,702      |   |   |   | 9,175 |   |   |   | 2005 |   |   |   | 1988-2000/06 |   |
| Arion      14 (n)                                     |   |   | 3,356   |   |   |   | 423    |   |   |   | -       |   |   |   | 3,280       |   |   |   | 423       |   |   |   | 3,280       |   |   |   | 3,703       |   |   |   | 484 |   |   |   | 2005 |   |   |   | 2006 |   |
| Arion      16 (f)                                     |   |   | 3,611   |   |   |   | 427    |   |   |   | -       |   |   |   | 3,485       |   |   |   | 427       |   |   |   | 3,485       |   |   |   | 3,912       |   |   |   | 331 |   |   |   | 2005 |   |   |   | 2007 |   |
| Arion      17 (n)                                     |   |   | 3,633   |   |   |   | 616    |   |   |   | -       |   |   |   | 3,393       |   |   |   | 616       |   |   |   | 3,393       |   |   |   | 4,009       |   |   |   | 507 |   |   |   | 2005 |   |   |   | 2007 |   |
| Arion      18                                         |   |   | -       |   |   |   | 418    |   |   |   | -       |   |   |   | 2,316       |   |   |   | 418       |   |   |   | 2,316       |   |   |   | 2,734       |   |   |   | 230 |   |   |   | 2005 |   |   |   | 2008 |   |
| Wetmore      Business Center (o)                      |   |   | 11,685  |   |   |   | 1,494  |   |   |   | 10,804  |   |   |   | 1,642       |   |   |   | 1,494     |   |   |   | 12,446      |   |   |   | 13,940      |   |   |   | 3,148 |   |   |   | 2005 |   |   |   | 1998/99 |   |
| Wetmore      Phase II, Building A                     |   |   | -       |   |   |   | 412    |   |   |   | -       |   |   |   | 2,972       |   |   |   | 412       |   |   |   | 2,972       |   |   |   | 3,384       |   |   |   | 306 |   |   |   | 2006 |   |   |   | 2008 |   |
| Wetmore      Phase II, Building B                     |   |   |  - |   |   |   | 505    |   |   |   |  - |   |   |   |  3,285 |   |   |   |  505 |   |   |   |  3,285 |   |   |   |  3,790 |   |   |   |  172 |   |   |   |  2006 |   |   |   |  2008 |   |
| Wetmore      Phase II, Building C                     |   |   | -       |   |   |   | 546    |   |   |   | -       |   |   |   | 3,178       |   |   |   | 546       |   |   |   | 3,178       |   |   |   | 3,724       |   |   |   | 127 |   |   |   | 2006 |   |   |   | 2008 |   |
| Wetmore      Phase II, Building D                     |   |   | -       |   |   |   | 1,056  |   |   |   | -       |   |   |   | 7,290       |   |   |   | 1,056     |   |   |   | 7,290       |   |   |   | 8,346       |   |   |   | 372 |   |   |   | 2006 |   |   |   | 2008 |   |
| Fairgrounds      Business Park (o)                    |   |   | 9,167   |   |   |   | 1,644  |   |   |   | 8,209   |   |   |   | 1,084       |   |   |   | 1,644     |   |   |   | 9,293       |   |   |   | 10,937      |   |   |   | 1,331 |   |   |   | 2007 |   |   |   | 1985/86 |   |
| ARIZONA                                               |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Phoenix      area                                     |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Broadway      Industrial Park I (i)                   |   |   | 2,940   |   |   |   | 837    |   |   |   | 3,349   |   |   |   | 686         |   |   |   | 837       |   |   |   | 4,035       |   |   |   | 4,872       |   |   |   | 1,769 |   |   |   | 1996 |   |   |   | 1971 |   |
| Broadway      Industrial Park II                      |   |   | -       |   |   |   | 455    |   |   |   | 482     |   |   |   | 145         |   |   |   | 455       |   |   |   | 627         |   |   |   | 1,082       |   |   |   | 314 |   |   |   | 1999 |   |   |   | 1971 |   |
| Broadway      Industrial Park III (i)                 |   |   | 1,631   |   |   |   | 775    |   |   |   | 1,742   |   |   |   | 186         |   |   |   | 775       |   |   |   | 1,928       |   |   |   | 2,703       |   |   |   | 792 |   |   |   | 2000 |   |   |   | 1983 |   |
| Broadway      Industrial Park IV (i)                  |   |   | 1,694   |   |   |   | 380    |   |   |   | 1,652   |   |   |   | 775         |   |   |   | 380       |   |   |   | 2,427       |   |   |   | 2,807       |   |   |   | 771 |   |   |   | 2000 |   |   |   | 1986 |   |
| Broadway      Industrial Park V (j)                   |   |   | 949     |   |   |   | 353    |   |   |   | 1,090   |   |   |   | 106         |   |   |   | 353       |   |   |   | 1,196       |   |   |   | 1,549       |   |   |   | 454 |   |   |   | 2002 |   |   |   | 1980 |   |
| Broadway      Industrial Park VI (f)                  |   |   | 2,636   |   |   |   | 599    |   |   |   | 1,855   |   |   |   | 402         |   |   |   | 599       |   |   |   | 2,257       |   |   |   | 2,856       |   |   |   | 838 |   |   |   | 2002 |   |   |   | 1979 |   |
| Kyrene      Distribution Center                       |   |   | 505     |   |   |   | 850    |   |   |   | 2,044   |   |   |   | 378         |   |   |   | 850       |   |   |   | 2,422       |   |   |   | 3,272       |   |   |   | 1,141 |   |   |   | 1999 |   |   |   | 1981 |   |
| Kyrene      Distribution Center II                    |   |   | -       |   |   |   | 640    |   |   |   | 2,409   |   |   |   | 660         |   |   |   | 640       |   |   |   | 3,069       |   |   |   | 3,709       |   |   |   | 1,240 |   |   |   | 1999 |   |   |   | 2001 |   |
| Metro      Business Park                              |   |   | -       |   |   |   | 1,927  |   |   |   | 7,708   |   |   |   | 4,728       |   |   |   | 1,927     |   |   |   | 12,436      |   |   |   | 14,363      |   |   |   | 5,357 |   |   |   | 1996 |   |   |   | 1977/79 |   |
| 35th      Avenue Distribution Center (j)              |   |   | 1,928   |   |   |   | 418    |   |   |   | 2,381   |   |   |   | 350         |   |   |   | 418       |   |   |   | 2,731       |   |   |   | 3,149       |   |   |   | 921 |   |   |   | 1997 |   |   |   | 1967 |   |
| Estrella      Distribution Center                     |   |   | -       |   |   |   | 628    |   |   |   | 4,694   |   |   |   | 862         |   |   |   | 628       |   |   |   | 5,556       |   |   |   | 6,184       |   |   |   | 1,767 |   |   |   | 1998 |   |   |   | 1988 |   |
| 51st      Avenue Distribution Center (i)              |   |   | 1,692   |   |   |   | 300    |   |   |   | 2,029   |   |   |   | 474         |   |   |   | 300       |   |   |   | 2,503       |   |   |   | 2,803       |   |   |   | 1,014 |   |   |   | 1998 |   |   |   | 1987 |   |
| East      University Distribution Center I and II (f) |   |   | 5,631   |   |   |   | 1,120  |   |   |   | 4,482   |   |   |   | 499         |   |   |   | 1,120     |   |   |   | 4,981       |   |   |   | 6,101       |   |   |   | 2,080 |   |   |   | 1998 |   |   |   | 1987/89 |   |
| 55th      Avenue Distribution Center (f)              |   |   | 4,934   |   |   |   | 912    |   |   |   | 3,717   |   |   |   | 717         |   |   |   | 917       |   |   |   | 4,429       |   |   |   | 5,346       |   |   |   | 1,806 |   |   |   | 1998 |   |   |   | 1987 |   |
| Interstate      Commons Dist Ctr I                    |   |   | -       |   |   |   | 798    |   |   |   | 3,632   |   |   |   | 448         |   |   |   | 798       |   |   |   | 4,080       |   |   |   | 4,878       |   |   |   | 1,658 |   |   |   | 1999 |   |   |   | 1988 |   |
| Interstate      Commons Dist Ctr II                   |   |   | -       |   |   |   | 320    |   |   |   | 2,448   |   |   |   | 322         |   |   |   | 320       |   |   |   | 2,770       |   |   |   | 3,090       |   |   |   | 899 |   |   |   | 1999 |   |   |   | 2000 |   |
| Interstate      Commons Dist Ctr III                  |   |   | -       |   |   |   | 242    |   |   |   | -       |   |   |   | 2,881       |   |   |   | 242       |   |   |   | 2,881       |   |   |   | 3,123       |   |   |   | 205 |   |   |   | 2000 |   |   |   | 2008 |   |
| Southpark      Distribution Center (i)                |   |   | 2,550   |   |   |   | 918    |   |   |   | 2,738   |   |   |   | 570         |   |   |   | 918       |   |   |   | 3,308       |   |   |   | 4,226       |   |   |   | 1,011 |   |   |   | 2001 |   |   |   | 2000 |   |
| Airport      Commons                                  |   |   | -       |   |   |   | 1,000  |   |   |   | 1,510   |   |   |   | 563         |   |   |   | 1,000     |   |   |   | 2,073       |   |   |   | 3,073       |   |   |   | 655 |   |   |   | 2003 |   |   |   | 1971 |   |
| Santan      10 Distribution Center I (n)              |   |   | 3,382   |   |   |   | 846    |   |   |   | 2,647   |   |   |   | 239         |   |   |   | 846       |   |   |   | 2,886       |   |   |   | 3,732       |   |   |   | 915 |   |   |   | 2001 |   |   |   | 2005 |   |
| Santan      10 Distribution Center II (f)             |   |   | 5,294   |   |   |   | 1,088  |   |   |   | -       |   |   |   | 4,647       |   |   |   | 1,088     |   |   |   | 4,647       |   |   |   | 5,735       |   |   |   | 657 |   |   |   | 2004 |   |   |   | 2007 |   |
| 40th      Avenue Distribution Center                  |   |   | -       |   |   |   | 703    |   |   |   | -       |   |   |   | 6,012       |   |   |   | 703       |   |   |   | 6,012       |   |   |   | 6,715       |   |   |   | 255 |   |   |   | 2004 |   |   |   | 2008 |   |
| Sky      Harbor Business Park                         |   |   | -       |   |   |   | 5,839  |   |   |   | -       |   |   |   | 19,489      |   |   |   | 5,839     |   |   |   | 19,489      |   |   |   | 25,328      |   |   |   | 261 |   |   |   | 2006 |   |   |   | 2008 |   |
| Tucson                                                |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Country      Club I (l)                               |   |   | 5,865   |   |   |   | 506    |   |   |   | 3,564   |   |   |   | 1,549       |   |   |   | 506       |   |   |   | 5,113       |   |   |   | 5,619       |   |   |   | 1,439 |   |   |   | 1997/2003 |   |   |   | 1994/2003 |   |
| Country      Club II                                  |   |   | -       |   |   |   | 442    |   |   |   | 3,381   |   |   |   | 4           |   |   |   | 442       |   |   |   | 3,385       |   |   |   | 3,827       |   |   |   | 336 |   |   |   | 2007 |   |   |   | 2000 |   |
| Airport      Distribution Center (i)                  |   |   | 4,283   |   |   |   | 1,103  |   |   |   | 4,672   |   |   |   | 1,322       |   |   |   | 1,103     |   |   |   | 5,994       |   |   |   | 7,097       |   |   |   | 2,338 |   |   |   | 1998 |   |   |   | 1995 |   |
| Southpointe      Distribution Center (i)              |   |   | 4,183   |   |   |   | -      |   |   |   | 3,982   |   |   |   | 2,950       |   |   |   | -         |   |   |   | 6,932       |   |   |   | 6,932       |   |   |   | 2,486 |   |   |   | 1999 |   |   |   | 1989 |   |
| Benan      Distribution Center                        |   |   | -       |   |   |   | 707    |   |   |   | 1,842   |   |   |   | 394         |   |   |   | 707       |   |   |   | 2,236       |   |   |   | 2,943       |   |   |   | 767 |   |   |   | 2005 |   |   |   | 2001 |   |
| NEVADA                                                |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Las      Vegas                                        |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Arville      Distribution Center                      |   |   | -       |   |   |   | 4,933  |   |   |   | 5,094   |   |   |   | 17          |   |   |   | 4,933     |   |   |   | 5,111       |   |   |   | 10,044      |   |   |   | 255 |   |   |   | 2009 |   |   |   | 1997 |   |
| TENNESSEE                                             |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Memphis                                               |   |   |    |   |   |   |   |   |   |   |    |   |   |   |        |   |   |   |      |   |   |   |        |   |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Air      Park Distribution Center I                   |   |   | -       |   |   |   | 250    |   |   |   | 1,916   |   |   |   | 738         |   |   |   | 250       |   |   |   | 2,654       |   |   |   | 2,904       |   |   |   | 962 |   |   |   | 1998 |   |   |   | 1975 |   |

----

| LOUISIANA                                           |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |
|-----------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|
| New      Orleans                                    |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |
| Elmwood      Business Park                          |   |   | -       |   |   |   | 2,861   |   |   |   | 6,337   |   |   |   | 2,993   |   |   |   | 2,861   |   |   |   | 9,330     |   |   |   | 12,191    |   |   |   | 5,096 |   |   |   | 1997 |   |   |   | 1979 |   |
| Riverbend      Business Park                        |   |   | -       |   |   |   | 2,592   |   |   |   | 17,623  |   |   |   | 2,117   |   |   |   | 2,592   |   |   |   | 19,740    |   |   |   | 22,332    |   |   |   | 8,427 |   |   |   | 1997 |   |   |   | 1984 |   |
| COLORADO                                            |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Denver                                              |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rampart      Distribution Center I (n)              |   |   | 5,233   |   |   |   | 1,023   |   |   |   | 3,861   |   |   |   | 890     |   |   |   | 1,023   |   |   |   | 4,751     |   |   |   | 5,774     |   |   |   | 2,689 |   |   |   | 1988 |   |   |   | 1987 |   |
| Rampart      Distribution Center II (n)             |   |   | 3,719   |   |   |   | 230     |   |   |   | 2,977   |   |   |   | 897     |   |   |   | 230     |   |   |   | 3,874     |   |   |   | 4,104     |   |   |   | 2,098 |   |   |   | 1996/97 |   |   |   | 1996/97 |   |
| Rampart      Distribution Center III (n)            |   |   | 5,685   |   |   |   | 1,098   |   |   |   | 3,884   |   |   |   | 1,291   |   |   |   | 1,098   |   |   |   | 5,175     |   |   |   | 6,273     |   |   |   | 1,982 |   |   |   | 1997/98 |   |   |   | 1999 |   |
| Concord      Distribution Center                    |   |   | -       |   |   |   | 1,051   |   |   |   | 4,773   |   |   |   | 45      |   |   |   | 1,051   |   |   |   | 4,818     |   |   |   | 5,869     |   |   |   | 628 |   |   |   | 2007 |   |   |   | 2000 |   |
| Centennial      Park                                |   |   | -       |   |   |   | 750     |   |   |   | 3,319   |   |   |   | 1,697   |   |   |   | 750     |   |   |   | 5,016     |   |   |   | 5,766     |   |   |   | 305 |   |   |   | 2007 |   |   |   | 1990 |   |
| OKLAHOMA                                            |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Oklahoma      City                                  |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Northpointe      Commerce Center                    |   |   | -       |   |   |   | 777     |   |   |   | 3,113   |   |   |   | 726     |   |   |   | 998     |   |   |   | 3,618     |   |   |   | 4,616     |   |   |   | 1,203 |   |   |   | 1998 |   |   |   | 1996/97 |   |
| Tulsa                                               |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Braniff      Park West                              |   |   | -       |   |   |   | 1,066   |   |   |   | 4,641   |   |   |   | 2,296   |   |   |   | 1,066   |   |   |   | 6,937     |   |   |   | 8,003     |   |   |   | 3,422 |   |   |   | 1996 |   |   |   | 1974 |   |
| MISSISSIPPI                                         |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interchange      Business Park (i)                  |   |   | 4,365   |   |   |   | 343     |   |   |   | 5,007   |   |   |   | 1,884   |   |   |   | 343     |   |   |   | 6,891     |   |   |   | 7,234     |   |   |   | 3,196 |   |   |   | 1997 |   |   |   | 1981 |   |
| Tower      Automotive                               |   |   | 9,175   |   |   |   | -       |   |   |   | 9,958   |   |   |   | 1,190   |   |   |   | 17      |   |   |   | 11,131    |   |   |   | 11,148    |   |   |   | 2,558 |   |   |   | 2001 |   |   |   | 2002 |   |
| Metro      Airport Commerce Center I                |   |   | -       |   |   |   | 303     |   |   |   | 1,479   |   |   |   | 921     |   |   |   | 303     |   |   |   | 2,400     |   |   |   | 2,703     |   |   |   | 878 |   |   |   | 2001 |   |   |   | 2003 |   |
|                                                |   |   | 601,447 |   |   |   | 207,188 |   |   |   | 758,747 |   |   |   | 404,653 |   |   |   | 208,630 |   |   |   | 1,161,958 |   |   |   | 1,370,588 |   |   |   | 354,617 |   |   |   |   |   |   |   |   |   |
| Industrial      Development (d):                    |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FLORIDA                                             |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Oak      Creek Distribution Center IX               |   |   | -       |   |   |   | 618     |   |   |   | -       |   |   |   | 4,533   |   |   |   | 781     |   |   |   | 4,370     |   |   |   | 5,151     |   |   |   | - |   |   |   | 2005 |   |   |   | n/a |   |
| Oak      Creek land                                 |   |   | -       |   |   |   | 1,946   |   |   |   | -       |   |   |   | 1,973   |   |   |   | 2,374   |   |   |   | 1,545     |   |   |   | 3,919     |   |   |   | - |   |   |   | 2005 |   |   |   | n/a |   |
| Southridge      land                                |   |   | -       |   |   |   | 1,395   |   |   |   | -       |   |   |   | 3,883   |   |   |   | 1,395   |   |   |   | 3,883     |   |   |   | 5,278     |   |   |   | - |   |   |   | 2003 |   |   |   | n/a |   |
| Sand      Lake land                                 |   |   | -       |   |   |   | 14,072  |   |   |   | -       |   |   |   | 1,676   |   |   |   | 14,143  |   |   |   | 1,605     |   |   |   | 15,748    |   |   |   | - |   |   |   | 2008/09 |   |   |   | n/a |   |
| Blue      Heron III                                 |   |   | -       |   |   |   | 450     |   |   |   | -       |   |   |   | 2,100   |   |   |   | 450     |   |   |   | 2,100     |   |   |   | 2,550     |   |   |   | - |   |   |   | 2004 |   |   |   | n/a |   |
| SunCoast      land                                  |   |   | -       |   |   |   | 10,926  |   |   |   | -       |   |   |   | 4,997   |   |   |   | 11,156  |   |   |   | 4,767     |   |   |   | 15,923    |   |   |   | - |   |   |   | 2006 |   |   |   | n/a |   |
| NORTH      CAROLINA                                 |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Airport      Commerce Center III land               |   |   | -       |   |   |   | 855     |   |   |   | -       |   |   |   | 240     |   |   |   | 855     |   |   |   | 240       |   |   |   | 1,095     |   |   |   | - |   |   |   | 2008 |   |   |   | n/a |   |
| TEXAS                                               |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| North      Stemmons land (i)                        |   |   | 387     |   |   |   | 537     |   |   |   | -       |   |   |   | 104     |   |   |   | 537     |   |   |   | 104       |   |   |   | 641       |   |   |   | - |   |   |   | 2001 |   |   |   | n/a |   |
| World      Houston Int'l Business Ctr 30            |   |   | -       |   |   |   | 981     |   |   |   |  - |   |   |   | 4,899   |   |   |   | 1,222   |   |   |   | 4,658     |   |   |   | 5,880     |   |   |   | 29 |   |   |   | 2007 |   |   |   | n/a |   |
| Beltway      Crossing VII                           |   |   | -       |   |   |   | 765     |   |   |   | -       |   |   |   | 4,880   |   |   |   | 765     |   |   |   | 4,880     |   |   |   | 5,645     |   |   |   | 67 |   |   |   | 2005 |   |   |   | n/a |   |
| World      Houston Int'l Business Ctr land          |   |   | -       |   |   |   | 3,636   |   |   |   | -       |   |   |   | 1,720   |   |   |   | 3,636   |   |   |   | 1,720     |   |   |   | 5,356     |   |   |   | - |   |   | 2000/05/06/08 |   |   | n/a |   |
| Beltway      Crossing land                          |   |   | -       |   |   |   | 721     |   |   |   | -       |   |   |   | 425     |   |   |   | 721     |   |   |   | 425       |   |   |   | 1,146     |   |   |   | - |   |   |   | 2005 |   |   |   | n/a |   |
| Beltway      Crossing Phase II land                 |   |   | -       |   |   |   | 1,841   |   |   |   | -       |   |   |   | 682     |   |   |   | 1,841   |   |   |   | 682       |   |   |   | 2,523     |   |   |   | - |   |   |   | 2007 |   |   |   | n/a |   |
| Lee      Road land                                  |   |   | -       |   |   |   | 4,214   |   |   |   | -       |   |   |   | 2,033   |   |   |   | 5,253   |   |   |   | 994       |   |   |   | 6,247     |   |   |   | - |   |   |   | 2007 |   |   |   | n/a |   |
| Americas      Ten Business Center II & III land |   |   | -       |   |   |   | 1,365   |   |   |   | -       |   |   |   | 1,079   |   |   |   | 1,365   |   |   |   | 1,079     |   |   |   | 2,444     |   |   |   | - |   |   |   | 2001 |   |   |   | n/a |   |
| Arion      8 expansion (n)                          |   |   | 46      |   |   |   | -       |   |   |   | -       |   |   |   | 51      |   |   |   | -       |   |   |   | 51        |   |   |   | 51        |   |   |   | - |   |   |   | 2005 |   |   |   | n/a |   |
| Alamo      Ridge land                               |   |   | -       |   |   |   | 2,288   |   |   |   | -       |   |   |   | 1,136   |   |   |   | 2,288   |   |   |   | 1,136     |   |   |   | 3,424     |   |   |   | - |   |   |   | 2007 |   |   |   | n/a |   |
| Thousand      Oaks land                             |   |   | -       |   |   |   | 2,173   |   |   |   | -       |   |   |   | 550     |   |   |   | 2,173   |   |   |   | 550       |   |   |   | 2,723     |   |   |   | - |   |   |   | 2008 |   |   |   | n/a |   |
| ARIZONA                                             |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Airport      Distribution Center II land            |   |   | -       |   |   |   | 300     |   |   |   | -       |   |   |   | 117     |   |   |   | 300     |   |   |   | 117       |   |   |   | 417       |   |   |   | - |   |   |   | 2000 |   |   |   | n/a |   |
| Country      Club III & IV                      |   |   | -       |   |   |   | 1,407   |   |   |   | -       |   |   |   | 9,320   |   |   |   | 1,407   |   |   |   | 9,320     |   |   |   | 10,727    |   |   |   | 32 |   |   |   | 2007 |   |   |   | n/a |   |
| MISSISSIPPI                                         |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Metro      Airport Commerce Center II land          |   |   | -       |   |   |   | 307     |   |   |   | -       |   |   |   | 399     |   |   |   | 307     |   |   |   | 399       |   |   |   | 706       |   |   |   | - |   |   |   | 2001 |   |   |   | n/a |   |
|                                                |   |   | 433     |   |   |   | 50,797  |   |   |   | -       |   |   |   | 46,797  |   |   |   | 52,969  |   |   |   | 44,625    |   |   |   | 97,594    |   |   |   | 128 |   |   |   |   |   |   |   |   |   |
|                                                |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Letter      of credit collateralizing mortgage (h)  |   |   | 1,069   |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total      real estate owned (a)(b)     |   | $      | 602,949 |   |   |   | 257,985 |   |   |   | 758,747 |   |   |   | 451,450 |   |   |   | 261,599 |   |   |   | 1,206,583 |   |   |   | 1,468,182 |   |   |   | 354,745 |   |   |   |   |   |   |   |   |   |
|                                                |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |
|                                                |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|   |   | Years      Ended December 31, |
|--------|--------|-------------------------------|
|   |   | 2009                          |   |   |        2008 |  |   | 2007 |

|                                           |   |   |      |   |   |   |      |   |   |
|------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|
| Balance at beginning of      year         |   | $      | 1,402,636 |   |   |   | 1,267,929 |   |   |   | 1,088,896 |   |
| Purchase of real estate      properties   |   |   | 15,957    |   |   |   | 44,030    |   |   |   | 54,543 |   |
| Development      of real estate properties     |   |   | 35,057    |   |   |   | 85,441    |   |   |   | 112,960 |   |
| Improvements      to real estate properties    |   |   | 16,212    |   |   |   | 15,210    |   |   |   | 15,881 |   |
| Carrying amount of investments      sold  |   |   | (1,680    | )      |   |   | (10,385   | )      |   |   | (3,791 | ) |
| Write-off of      improvements            |   |   | –   |   |   |   | 411       |   |   |   | (560 | ) |
| Balance at end of year      (1)           |   | $      | 1,468,182 |   |   |   | 1,402,636 |   |   |   | 1,267,929 |   |

| (1)   | Includes      20% noncontrolling interests in Castilian Research Center of $1,791,000 at      December 31, 2009 and $1,791,000 at December 31, 2008 and in University      Business Center of $6,302,000 and $6,180,000,  respectively. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   | Years      Ended December 31, |
|--------|--------|-------------------------------|
|   |   | 2009                          |   |   | 2008 |   |   | 2007 |

|                                               |   |   |    |   |   |   |    |   |   |
|----------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Balance at beginning of      year             |   | $      | 310,351 |   |   |   | 269,132 |   |   |   | 231,106 |   |
| Depreciation expense                          |   |   | 45,195  |   |   |   | 42,166  |   |   |   | 39,688 |   |
| Accumulated depreciation on      assets sold  |   |   | (801    | )      |   |   | (1,358  | )      |   |   | (1,102 | ) |
| Other                                         |   |   | – |   |   |   | 411     |   |   |   | (560 | ) |
| Balance at end of      year                   |   | $      | 354,745 |   |   |   | 310,351 |   |   |   | 269,132 |   |

----

----

|                                                                                                                                     |   | Number      of Loans |   |   | InterestRate |   |   | Maturity      Date |   | PeriodicPayment      Terms |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|--------|--------------|--------|--------|--------------------|--------|----------------------------|
|                                                                                                                                     |   |                 |   |   |         |   |   |               |   |                       |
| First      mortgage loan:   United      Stationers Tampa Building,        Florida |   |                 | 1      |   |         |   | 6.0    | %      (e)         |   |                       | 08/2013 |   | Interest      accrued and due monthly (beginning 01/01/09); balloon payment of      $4,150,000 due at maturity |
| Second      mortgage loan:                                                                                                               |   |                 |   |   |         |   |   |               |   |                       |   |   |   |
|    Madisonville      land, Kentucky                                                                                       |   |                 | 1      |   |         |   | 7.0    | %                  |   |                       | 01/2012 |   | Principal      and interest due monthly |
| Total      mortgage loans (c)                                                                                                            |   |                 | 2      |   |         |   |   |               |   |                       |   |   |   |

|                                                                                                            |   | Face      Amountof      MortgagesDec.      31, 2009 |   |   | CarryingAmount      ofMortgages |   |   |   | PrincipalAmount      of LoansSubject      to DelinquentPrincipal      or Interest (d) |   |
|-----------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------|--------|--------|---------------------------------|--------|--------|--------|---------------------------------------------------------------------------------------|--------|
|                                                                                                            |   | (In      thousands)                                 |   |
| First      mortgage loan:                                                                                       |   |                                                |   |   |                            |   |   |   |                                                                                  |   |
|    United      Stationers Tampa Building,        Florida |   | $                                                   | 4,150  |   |                            |   | 4,081  |   |                                                                                  |   |   | – |   |
| Second      mortgage loan:                                                                                      |   |                                                |   |   |                            |   |   |   |                                                                                  |   |   |   |   |
|    Madisonville      land, Kentucky                                                              |   |                                                | 74     |   |                            |   | 74     |   |                                                                                  |   |   | – |   |
| Total      mortgage loans                                                                                       |   | $                                                   | 4,224  |   |                            |   | 4,155  |   | (a)(b)                                                                                |   |   | – |   |

| (a)   | Changes      in mortgage loans follow: |
|-----------------|----------------------------------------|

|                                                      |   | Years      Ended December 31, |    |
|-----------------------------------------------------------|--------|-------------------------------|---------|
|                                                      |   | 2009                          |    |   | 2008 |   |   | 2007 |   |
|                                                      |   | (In      thousands)           |    |
|                                                      |   |                          |    |   |   |   |   |   |   |
| Balance      at beginning of year                         |   | $                             | 4,174   |   |   |   | 132 |   |   |   | 162 |   |
| Advances      on mortgage loans receivable                |   |                          | – |   |   |   | 4,994 |   |   |   | – |   |
| Payments      on mortgage loans receivable                |   |                          | (31     | ) |   |   | (871 | ) |   |   | (30 | ) |
| Discount on mortgage loan      receivable            |   |                          | – |   |   |   | (198 | ) |   |   | – |   |
| Amortization      of discount on mortgage loan receivable |   |                          | 12      |   |   |   | 117 |   |   |   | – |   |
| Balance      at end of year                               |   | $                             | 4,155   |   |   |   | 4,174 |   |   |   | 132 |   |

----

|   | EASTGROUP      PROPERTIES, INC.                                                 |
|--------|---------------------------------------------------------------------------------|
|   |                                                                            |
|   | By:      /s/ DAVID H. HOSTER II                                            |
|   | David      H. Hoster II, Chief Executive Officer, President &      Director |
|   | February      26,      2010                                                     |

| *                                      |   | *                                     |   |
|---------------------------------------------|--------|--------------------------------------------|--------|
| D.      Pike Aloian, Director               |   | H.      C. Bailey, Jr., Director           |   |
| February      26,      2010                 |   | February      26,      2010                |   |
|                                        |   |                                       |   |
| *                                      |   | *                                     |   |
| Hayden      C. Eaves III, Director          |   | Fredric      H. Gould, Director            |   |
| February      26,      2010                 |   | February      26,      2010                |   |
|                                        |   |                                       |   |
| *                                      |   | *                                     |   |
| Mary      Elizabeth McCormick, Director     |   | David      M. Osnos, Director              |   |
| February      26,      2010                 |   | February      26,      2010                |   |
|                                        |   |                                       |   |
| *                                      |   | /s/ N. KEITH      MCKEY               |   |
| Leland      R. Speed, Chairman of the Board |   | *      By N. Keith McKey, Attorney-in-fact |   |
| (Principal      Executive Officer)          |   | February      26,      2010                |   |
| February      26,      2010                 |   |                                       |   |

| /s/BRUCE      CORKERN                             |   |   |   |
|--------------------------------------------------------|--------|--------|--------|
| Bruce      Corkern, Sr. Vice-President, Controller and |   |   |   |
| Chief      Accounting Officer                          |   |   |   |
| (Principal      Accounting Officer)                    |   |   |   |
| February      26,      2010                            |   |   |   |
|                                                   |   |   |   |
| /s/N. KEITH      MCKEY                            |   |   |   |
| N.      Keith McKey, Executive Vice-President,         |   |   |   |
| Chief      Financial Officer, Treasurer and Secretary  |   |   |   |
| (Principal      Financial Officer)                     |   |   |   |
| February      26,      2010                            |   |   |   |

----

| (3) | Exhibits      required by Item 601 of RegulationS-K: |
|-----|------------------------------------------------------|

|   | (3) | Articles      of Incorporation and Bylaws |
|--------|-----|-------------------------------------------|

| (a)   | Articles      of Incorporation (incorporated by reference to Appendix B to the Company's      Proxy Statement for its Annual Meeting of Stockholders held on June 5,      1997). |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Bylaws      of the Company (incorporated by reference to Exhibit 3.1 to the Company’s      Form 8-K filed December 10, 2008). |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (10) | Material      Contracts (*Indicates management or compensatory    agreement): |
|--------|------|-------------------------------------------------------------------------------|

| (a)   | EastGroup      Properties, Inc. 1994 Management Incentive Plan, as Amended and Restated      (incorporated by reference to Appendix A to the Company's Proxy Statement      for its Annual Meeting of Stockholders held on June 2,    1999).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Amendment      No. 1 to the Amended and Restated 1994 Management Incentive Plan      (incorporated by reference to Exhibit 10(c) to the Company’s Form 8-K      filed January 8, 2007).* |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | EastGroup      Properties, Inc. 2000 Directors Stock Option Plan (incorporated by      reference to Appendix A to the Company's Proxy Statement for its Annual      Meeting of Stockholders held on June 1,2000).* |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | EastGroup      Properties, Inc. 2004 Equity Incentive Plan (incorporated by reference to      Appendix D to the Company's Proxy Statement for its Annual Meeting of      Stockholders held on May 27,2004).* |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Amendment      No. 1 to the 2004 Equity Incentive Plan (incorporated by reference to      Exhibit 10(f) to the Company’s Form 10-K for the year ended December 31,      2006).* |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | Amendment      No. 2 to the 2004 Equity Incentive Plan (incorporated by reference to      Exhibit 10(d) to the Company’s Form 8-K filed January 8,      2007).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g)   | EastGroup      Properties, Inc. 2005 Directors Equity Incentive Plan (incorporated by      reference to Appendix B to the Company’s Proxy Statement for its Annual      Meeting of Stockholders held on June 2,2005).* |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | Amendment      No. 1 to the 2005 Directors Equity Incentive Plan (incorporated by      reference to Exhibit 10.1 to the Company’s Form 8-K filed June 6,      2006).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | Amendment      No. 2 to the 2005 Directors Equity Incentive Plan (incorporated by      reference to Exhibit 10.1 to the Company’s Form 8-K filed June 3,      2008).* |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j)   | Form      of Severance and Change in Control Agreement that the Company has entered      into with Leland R. Speed, David H. Hoster II and N. Keith McKey      (incorporated by reference to Exhibit 10(a) to the Company's Form 8-K      filed January 7, 2009).* |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (k)   | Form      of Severance and Change in Control Agreement that the Company has entered      into with John F. Coleman, William D. Petsas, Brent W. Wood and C. Bruce      Corkern (incorporated by reference to Exhibit 10(b) to the Company's Form      8-K filed January 7, 2009).* |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (l)   | Compensation      Program for Non-Employee Directors (a written description thereof is set      forth in Item 5.02 of the Company’s Form 8-K filed June 3,      2008).* |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | Annual      Cash Bonus, 2009 Annual Long-Term Equity Incentive and Supplemental Annual      Long-Term Equity Incentive Performance Goals (a written description      thereof is set forth in Item 5.02 of the Company’s Form 8-K filed June 2,      2009).* |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (n)   | Second      Amended and Restated Credit Agreement Dated January 4, 2008 among      EastGroup Properties, L.P.; EastGroup Properties, Inc.; PNC Bank, National      Association, as Administrative Agent; Regions Bank and SunTrust Bank as      Co-Syndication Agents; Wells Fargo Bank, National Association as      Documentation Agent; and PNC Capital Markets LLC, as Sole Lead Arranger      and Sole Bookrunner; and the Lenders thereunder (incorporated by reference      to Exhibit 10.1 to the Company's Form 8-K filed January 10,      2008). |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (21) | Subsidiaries      of EastGroup Properties, Inc. (filedherewith). |
|------|------------------------------------------------------------------|

| (23) | Consent      of KPMG LLP (filed herewith). |
|------|--------------------------------------------|

| (24) | Powers      of attorney (filed herewith). |
|------|-------------------------------------------|

|   | (31) | Rule      13a-14(a)/15d-14(a) Certifications (pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002) |
|--------|------|---------------------------------------------------------------------------------------------------------------|

| (a)   | David      H. Hoster II, Chief ExecutiveOfficer |
|-----------------|-------------------------------------------------|

| (b)   | N.      Keith McKey, Chief FinancialOfficer |
|-----------------|---------------------------------------------|

|   | (32) | Section      1350 Certifications (pursuant to Section 906 of the Sarbanes-Oxley Act of      2002) |
|--------|------|---------------------------------------------------------------------------------------------------|

| (a)   | David      H. Hoster II, Chief ExecutiveOfficer |
|-----------------|-------------------------------------------------|

| (b)   | N.      Keith McKey, Chief FinancialOfficer |
|-----------------|---------------------------------------------|

----