EastGroup Properties Announces The Income Tax Treatment Of Its 2012 Distributions

     EastGroup Properties Announces The Income Tax Treatment Of Its 2012

PR Newswire

JACKSON, Miss., Jan. 23, 2013

JACKSON, Miss., Jan. 23, 2013 /PRNewswire/ --EastGroup Properties, Inc.
(NYSE: EGP) announced today the income tax treatment of its 2012 distributions
as described below. Shareholders are encouraged to consult with their
personal tax advisors as to their specific tax treatment of EastGroup
Properties distributions.

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Common Stock:
Ticker Symbol EGP, CUSIP #277 276 101

Record   Payment                Total    Total        Unrecaptured
                  Distributions Ordinary Capital      Sec. 1250    Nondividend
Dates    Dates                           Gain         Gain (1)
                  Per Share     Dividend Distribution              Distributions
03/19/12 03/30/12 $.52          $.40735  $.04025      $.03700      $.07240
06/15/12 06/29/12 .52           .40735   .04025       .03700       .07240
09/18/12 09/28/12 .53           .41518   .04102       .03771       .07380
12/18/12 12/31/12 .53           .41518   .04102       .03771       .07380
         TOTALS   $2.10         $1.64506 $.16254      $.14942      $.29240
Form 1099-DIV box               1a       2a           2b           3

(1) Unrecaptured Sec. 1250 Gain (box 2b) is a subset of, and is included in,
the Total Capital Gain Distribution amount reported in box 2a of Form

(2) Return of Capital

The Company did not incur any foreign taxes in 2012. Of the total
distributions during 2012, none are considered qualifying dividends for
purposes of the federal 15% income tax rate. Should you need any additional
information, please call Bruce Corkern, Senior Vice President and Controller,
at 601-354-3555.

EastGroup Properties, Inc. is a self-administered equity real estate
investment trust focused on the development, acquisition and operation of
industrial properties in major Sunbelt markets throughout the United States
with an emphasis in the states of Florida, Texas, Arizona, California and
North Carolina. The Company's goal is to maximize shareholder value by being
the leading provider in its markets of functional, flexible, and quality
business distribution space for location sensitive customers primarily in the
5,000 to 50,000 square foot range. The Company's strategy for growth is based
on ownership of premier distribution facilities generally clustered near major
transportation features in supply-constrained submarkets. EastGroup's
portfolio currently includes over 32 million square feet.

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

SOURCE EastGroup Properties, Inc.

Website: http://www.eastgroup.net
Contact: David H. Hoster II, Chief Executive Officer and President, or N.
Keith McKey, Chief Financial Officer, both of EastGroup Properties, Inc.,
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