EastGroup Properties To Redeem Series D Preferred Stock

JACKSON, MS, June 2, 2008– EastGroup Properties (NYSE-EGP) today announced that it will redeem all of its 1,320,000 shares of 7.95% Series D Cumulative Redeemable Preferred Stock (NYSE: EGP PrD, CUSIP: 277 276 408).

The redemption will take place on July 2, 2008 at a redemption price of $25.00 per share plus accrued and unpaid dividends for the period from July 1, 2008 through and including the redemption date of $0.011 per share, for an aggregate redemption price of $25.011 per Series D Preferred Share, without interest.

For more information, please contact David H. Hoster II, President and Chief Executive Officer or N. Keith McKey, Chief Financial Officer at(601) 354-3555.

EastGroup Properties, Inc. press releases are available at http://www.eastgroup.net/press/pressreleases/www.eastgroup.net.
P.O. Box 22728, Jackson, MS 39225-2728
Telephone: 601/354-3555, Fax: 601/352-1441

Regency Centers Co-Investment Partnership Sells Mid-Atlantic Portfolio

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers (NYSE:REG), a national owner, operator and developer of grocery-anchored and community shopping centers, along with the company's co-investment partner, Macquarie CountryWide of Australia, announced today that the partnership has sold seven properties, the "Mid-Atlantic portfolio."

The properties were sold to a joint venture between Spectrum Partners and Angelo Gordon. The Washington DC CBRE team of Bill Kent and Gary Lawrence represented Regency and Macquarie CountryWide. The purchase price for the portfolio was $108.1 million and a cap rate of 7.75%.

Barry Argalas, (top right photo) Regency Centers senior vice president of National Acquisitions and Dispositions said, "We are pleased that Regency Centers and its co-investment partner successfully completed this portfolio sale in a difficult capital market environment.

"The disruption in the capital markets has not only impacted new debt, it has also lengthened the loan assumption process. This was a great example of buyer and seller working together to get through the extended loan assumption process and achieve a successful result.

"The Regency Centers and Macquarie co-investment partnership is currently in the market with properties and will continue to sell properties throughout the year as part of the organization's capital recycling strategies," he said.

Regency is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. At March 31, 2008, the Company owned 450 retail properties, including those held in co-investment partnerships. Including tenant-owned square footage, the portfolio encompassed 60 million square feet located in top markets throughout the United States. Since 2000,

Regency has developed 189 shopping centers, including those currently in-process, representing an investment at completion of nearly $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

Contacts:

The Hoffman Agency, Bonnie Hayflick, 904-398-9663, bhayflick@thehoffmanagency.com

or
Regency Centers, Barry Argalas, Sr., Vice President National Acquisitions
and Dispositions, 904-598-7464, bargalas@regencycenters.com
or
Lisa Palmer, Sr. Vice President Capital Markets, 904-598-7636
lpalmer@regencycenters.com