<SUBMISSION>
<ACCESSION-NUMBER>0000950134-09-007128
<TYPE>SC TO-I/A
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20090408
<DATE-OF-FILING-DATE-CHANGE>20090407
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>LAMAR ADVERTISING CO/NEW
<CIK>0001090425
<ASSIGNED-SIC>7311
<IRS-NUMBER>721449411
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
<ACT>34
<FILE-NUMBER>005-58057
<FILM-NUMBER>09738660
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O LAMAR ADVERTISING COMPANY
<STREET2>5551 CORPORATE BOULEVARD
<CITY>BATON ROUGE
<STATE>LA
<ZIP>70808
<PHONE>2259261000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O LAMAR ADVERTISING COMPANY
<STREET2>5551 CORPORATE BOULEVARD
<CITY>BATON ROUGE
<STATE>LA
<ZIP>70808
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>LAMAR NEW HOLDING CO
<DATE-CHANGED>19990716
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>LAMAR ADVERTISING CO/NEW
<CIK>0001090425
<ASSIGNED-SIC>7311
<IRS-NUMBER>721449411
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O LAMAR ADVERTISING COMPANY
<STREET2>5551 CORPORATE BOULEVARD
<CITY>BATON ROUGE
<STATE>LA
<ZIP>70808
<PHONE>2259261000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O LAMAR ADVERTISING COMPANY
<STREET2>5551 CORPORATE BOULEVARD
<CITY>BATON ROUGE
<STATE>LA
<ZIP>70808
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>LAMAR NEW HOLDING CO
<DATE-CHANGED>19990716
</FORMER-COMPANY>
</FILED-BY>
<DOCUMENT>
<TYPE>SC TO-I/A
<SEQUENCE>1
<FILENAME>d67177sctoviza.htm
<DESCRIPTION>AMENDMENT TO SCHEDULE TO-I
<TEXT>
<HTML>
<HEAD>
<TITLE>sctoviza</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Schedule&nbsp;TO</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>(Rule&nbsp;14d-100)</B></DIV>



<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) or 13(e)(1)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934<BR>
(Amendment No.&nbsp;2)</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>LAMAR ADVERTISING COMPANY</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><I>(Name of Subject Company (Issuer) and Filing Person (as Offeror))</I></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>2 7/8% CONVERTIBLE NOTES DUE 2010 &#151; SERIES B</B><BR>
<I>(Title of Class of Securities)</I></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>512815AH4</B><BR>
<I>(CUSIP Number of Class of Securities)</I></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Kevin P. Reilly, Jr.<BR>
President<BR>
Lamar Advertising Company<BR>
5551 Corporate Boulevard<BR>
Baton Rouge, Louisiana 70808<BR>
(225)&nbsp;926-1000</B><BR>
<I>(Name, address, and telephone number of person authorized to receive notices<BR>
and communications on behalf of filing persons)</I></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B><I>with copies to:</I></B></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Stacie Aarestad, Esq.</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Daniel J. Zubkoff, Esq.</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Edwards Angell Palmer &#038; Dodge LLP</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Cahill Gordon &#038; Reindel LLP</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>111 Huntington Avenue At Prudential Center</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>80 Pine Street</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Boston, Massachusetts 02199-7613</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>New York, New York 10005</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>(617)&nbsp;239-0100</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(212)&nbsp;701-3000</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF FILING FEE</B></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%" style="border-bottom: 0px double #000000; border-left: 0px solid #000000">&nbsp;</TD>
    <TD width="5%" style="border-bottom: 0px double #000000; border-right: 0px solid #000000">&nbsp;</TD>
    <TD width="47%" style="border-bottom: 0px double #000000; border-right: 0px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD width="47%" style="border-top: 3px double #000000; border-left: 0px solid #000000">&nbsp;</TD>
    <TD width="5%" style="border-top: 3px double #000000; border-right: 1px solid #000000">&nbsp;</TD>
    <TD width="47%" style="border-top: 3px double #000000; border-right: 0px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 8pt">
    <TD align="center" valign="top" style="border-bottom: 1px solid #000000; border-left: 0px solid #000000"><B>Transaction Valuation (1)</B>
</TD>
    <TD align="center" valign="top" style="border-bottom: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-bottom: 1px solid #000000; border-right: 0px solid #000000"><B>Amount of Filing Fee (2)</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top" style="border-bottom: 3px double #000000; border-left: 0px solid #000000"><B>$264,232,280</B>
</TD>
    <TD align="center" valign="top" style="border-bottom: 3px double #000000; border-right: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-bottom: 3px double #000000; border-right: 0px solid #000000"><B>$14,745</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Calculated solely for purposes of determining the amount of the filing fee. The transaction
valuation was calculated based on the purchase of $287,209,000 aggregate principal amount of
the issuer&#146;s 2 7/8% Convertible Notes due 2010 &#151; Series&nbsp;B at the tender offer price of $920
per $1,000 principal amount of such notes.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The amount of the filing fee was calculated at a rate of $55.80 per $1,000,000 of transaction
value.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#254;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Check the box if any part of the fee is offset as provided by Rule&nbsp;0-11(a)(2) and identify the
filing with which the offsetting fee was previously paid. Identify the previous filing by
registration statement number, or the Form or Schedule and the date of its filing.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Amount Previously Paid: $14,745<br>
Form or Registration No.: Schedule&nbsp;TO<br>
Filing Party: Lamar Advertising Company<br>
Date Filed: March&nbsp;23, 2009
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Check the box if the filing relates solely to preliminary communications made before the
commencement of a tender offer.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Check the appropriate boxes below to designate any transactions to which the statement relates:
</DIV>


<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>third-party tender offer subject to Rule&nbsp;14d-1.</TD>
</TR>

<TR>
    <TD style="font-size: 0pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#254;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>issuer tender offer subject to Rule&nbsp;13e-4.</TD>
</TR>

<TR>
    <TD style="font-size: 0pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>going-private transaction subject to Rule&nbsp;13e-3.</TD>
</TR>

<TR>
    <TD style="font-size: 0pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>amendment to Schedule&nbsp;13D under Rule&nbsp;13d-2.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Check the following box if the filing is a final amendment reporting the results of the tender
offer: <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;7. Source and Amount of Funds or Other Consideration</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">EXHIBIT INDEX</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>





<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>INTRODUCTORY STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No.&nbsp;2 (this &#147;Amendment No.&nbsp;2&#148;) amends and supplements the Tender Offer
Statement on Schedule&nbsp;TO originally filed with the Securities and Exchange Commission on March&nbsp;23,
2009 (as amended, the &#147;Schedule&nbsp;TO&#148;), relating to the offer (the &#147;Offer&#148;) by Lamar Advertising
Company, a Delaware corporation (the &#147;Company&#148;), to purchase for cash any and all of its &nbsp;2<SUP style="font-size: 85%; vertical-align: text-top">7</SUP>/<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>%
Convertible Notes due 2010 &#151; Series&nbsp;B (the &#147;Notes&#148;), upon the terms and conditions set forth in
the Offer to Purchase, dated March&nbsp;23, 2009, and amended by the
filing of Amendment No. 1 to the Schedule TO on March 27, 2009 (the
&#147;Offer to Purchase&#148;), and in the related Letter of
Transmittal, copies of which are filed as Exhibits (a)(1)(i) and (a)(1)(ii), respectively, to the
Schedule&nbsp;TO. This Amendment No.&nbsp;2 is intended to satisfy the reporting requirements of Rule
13e-4(c)(3) under the Securities Exchange Act of 1934, as amended. Except as specifically provided
herein, this Amendment No.&nbsp;2 does not modify any of the information previously reported in the
Schedule&nbsp;TO.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information in the Offer to Purchase and the related Letter of Transmittal is incorporated
in this Amendment No.&nbsp;2 by reference to all of the applicable items in the Schedule&nbsp;TO, except that
such information is amended and supplemented to the extent specifically provided in this Amendment
No.&nbsp;2.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should read this Amendment No.&nbsp;2 together with the Schedule&nbsp;TO, the Offer to Purchase and
the Letter of Transmittal. Capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Offer to Purchase.
</DIV>
<!-- link2 "Item&nbsp;7. Source and Amount of Funds or Other Consideration" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Source and Amount of Funds or Other Consideration.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;7 of the Schedule&nbsp;TO is hereby amended and supplemented to include the following:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April&nbsp;2, 2009, Lamar Media Corp. (&#147;Lamar Media&#148;), a wholly owned subsidiary of the Company,
entered into Amendment No.&nbsp;4 (&#147;Amendment No.&nbsp;4&#148;) to its existing bank credit facility dated as of
September&nbsp;30, 2005 (as amended by Amendment No.&nbsp;1, Amendment No.&nbsp;2 and Amendment No.&nbsp;3 thereto, the
&#147;Credit Agreement&#148;) together with the Subsidiary Guarantors (as defined therein), the Subsidiary
Borrowers (as defined therein), the Company, and JPMorgan Chase Bank, N.A., as Administrative Agent
(&#147;JPMorgan&#148;), to among other things (i)&nbsp;reduce the amount of the revolving credit commitments
available thereunder from $400,000,000 to $200,000,000, (ii)&nbsp;increase the interest rate margins for
the revolving credit facility and term loans under the Credit Agreement, (iii)&nbsp;make certain changes to the provisions regarding
mandatory prepayments of loans, (iv)&nbsp;amend certain financial covenants and (v)&nbsp;cause Lamar Media
and the Subsidiary Guarantors to pledge additional collateral of Lamar Media and its subsidiaries,
including certain owned real estate properties, to secure loans made under the Credit Agreement.
Amendment No.&nbsp;4 and the changes it made to the Credit Agreement were effective as of April&nbsp;6,
2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Reductions in commitments</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The aggregate amount of the Revolving Credit Commitments was automatically ratably reduced
from $400,000,000 to $200,000,000 as of April&nbsp;6, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Interest</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The manner in which interest on Lamar Media&#146;s borrowings is determined under the facilities
was changed under Amendment No.&nbsp;4 and is now calculated, at Lamar Media&#146;s option, at a basic rate
equal to either of the following plus the applicable spread above such basic rate:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to base rate borrowings, the &#147;Adjusted Base Rate&#148; which is equal to
the highest of: the rate publicly announced by JPMorgan Chase Bank, N.A. as its
prime lending rate, or the applicable federal funds rate, plus 0.50%,
or 1.0% plus the greater of (a) 2.00% and (b) the rate
at which eurodollar deposits for one month are quoted on Reuters Page LIBOR01
multiplied by the statutory reserve rate (determined based on maximum reserve
percentages established by the Board of Governors of the Federal Reserve System of
the United States of America); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to eurodollar rate borrowings, the rate at which eurodollar
deposits for one, two, three or six months (as selected by us), or nine or twelve
months with the consent of the lenders, are quoted on Reuters Page LIBOR01
multiplied by the statutory reserve rate (determined based on</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>maximum reserve percentages established by the Board of Governors of the Federal
Reserve System of the United States of America).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The spread applicable to borrowings is determined by reference to trailing Senior Debt Ratio
(total senior debt to trailing four fiscal quarter EBITDA, as defined below, see &#147;Amendments to financial covenants&#148; below). For eurodollar rate borrowings, the spread applicable at this time is 3.50% and
for base rate borrowing is 2.50%, in each case, subject to adjustment by reference to Lamar Media&#146;s
trailing Senior Debt Ratio.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Mandatory prepayments</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Media has agreed to make annual mandatory prepayments of principal under the bank credit
facility based on a percentage of the excess cash flow (as defined in Amendment No.&nbsp;4) for each of
Lamar Media&#146;s fiscal years. The percentage of excess cash flow to be prepaid is determined by
reference to Lamar Media&#146;s trailing Total Holdings Debt Ratio (total debt of the Company and its
restricted subsidiaries to trailing four fiscal quarter EBITDA,  see &#147;Amendments to financial covenants&#148; below). The initial percentage of excess cash flow to be prepaid is 100%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to the fiscal year ending on December&nbsp;31, 2009, the excess cash flow prepayment
is applied first to prepay Lamar Media&#146;s revolving credit facility (without reduction of
commitments) up to approximately $107&nbsp;million and the balance, if any, to the prepayment of the
term loan facility and incremental loan facilities. For fiscal years ending on or after December&nbsp;31, 2010,
the excess cash flow prepayment is applied to Lamar Media&#146;s term loan facility and its incremental
loan facilities, ratably.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As defined in Amendment No.&nbsp;4, excess cash flow is, for any fiscal year, EBITDA of the Company
and its restricted subsidiaries, less the sum of: debt service for such
fiscal year, unfinanced capital expenditures made during such fiscal year, tax payments made in
cash during such fiscal year, amounts dividended by Lamar Media to the Company during such fiscal
year to enable the Company to make interest payments on its indebtedness, changes in working
capital during such fiscal year, payments made by Lamar Media from free cash flow during such
fiscal year to repay certain indebtedness owed to the Company, net reductions in the aggregate
outstanding principal amount of Lamar Media&#146;s revolving credit facility during such fiscal year and
the aggregate amount of optional prepayments of principal of Lamar Media&#146;s term loan facility and
incremental loan facility during such fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Amendments to financial covenants</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s &#147;Total Debt Ratio&#148; has been amended to include indebtedness of the Company and
is now called the &#147;Total Holdings Debt Ratio.&#148; Pursuant to the Total Holdings Debt Ratio, the
Company may not exceed the following ratios during the periods noted as set forth below:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Period</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Ratio</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amendment No.&nbsp;4 Effective Date through and including
March&nbsp;31, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.25 to 1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including June&nbsp;30, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.50 to 1.00</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including June&nbsp;30, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.75 to 1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including December&nbsp;31, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.50 to 1.00</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including March&nbsp;31, 2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.00 to 1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including June&nbsp;30, 2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.75 to 1.00</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including September&nbsp;30, 2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.25 to 1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.00&nbsp;to&nbsp;1.00</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment No.&nbsp;4 added a Senior Debt Ratio that the Company may not exceed during the periods
noted as set forth below:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Period</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Ratio</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amendment No.&nbsp;4 Effective Date through and including March
31, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.00&nbsp;to&nbsp;1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including March&nbsp;31, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.25 to 1.00</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including September&nbsp;30, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.00 to 1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including December&nbsp;31, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.75 to 1.00</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including March&nbsp;31, 2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.50 to 1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including September&nbsp;30, 2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.25 to 1.00</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter through and including December&nbsp;31, 2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.00 to 1.00</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thereafter
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2.00 to 1.00</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>EBITDA</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The definition of &#147;EBITDA&#148; was revised in Amendment No.&nbsp;4 as follows: &#147;<U>EBITDA</U>&#148; means,
for any period, operating income for the Company and its subsidiaries (other than any unrestricted
subsidiary) (determined on a consolidated basis without duplication in accordance with GAAP) for
such period (calculated before taxes, interest expense, interest in respect of Mirror Loan
Indebtedness (as defined in Amendment No.&nbsp;4), depreciation, amortization and any other non-cash
income or charges accrued for such period, one-time cash restructuring charges and cash severance
charges in the fiscal years ending on December&nbsp;31, 2008 and 2009 (which charges shall not in the
aggregate exceed $2,500,000 for such fiscal years) for such period and (except to the extent
received or paid in cash by the Company or any of its subsidiaries (other than any unrestricted
subsidiary) income or loss attributable to equity in Affiliates (as defined in Amendment No.&nbsp;4) for
such period)), excluding any extraordinary and unusual gains or losses during such period, and
excluding the proceeds of any Casualty Events and Dispositions (each as defined in Amendment No.
4). For purposes hereof, the effect thereon of any adjustments required under Statement of
Financial Accounting Standards No.&nbsp;141R shall be excluded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Pledge of additional collateral</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with Amendment No.&nbsp;4, Lamar Media and the Subsidiary Guarantors entered into an
Amended and Restated Pledge Agreement with JPMorgan as Administrative Agent under which Lamar Media
and the Subsidiary Guarantors pledged, as security for loans made under the Credit Agreement, all
of their assets and placed a mortgage lien on certain pieces of real property held by TLC
Properties, Inc., a Subsidiary Guarantor thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Incremental Loan Facility</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment No.&nbsp;4 also reduced Lamar Media&#146;s incremental loan facility from $500&nbsp;million to $300
million. The incremental facility permits Lamar Media to request that its lenders enter into
commitments to make additional term loans, up to a maximum aggregate amount of $300&nbsp;million. Lamar
Media&#146;s lenders have no obligation to make additional loans out of the $300&nbsp;million incremental
facility, but may enter into such commitments at their sole discretion.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After due inquiry and to the best of my knowledge and belief, I certify that the information
set forth in this statement is true, complete and correct.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date:  April 7, 2009      &nbsp;</TD>
    <TD colspan="3" align="left">LAMAR ADVERTISING COMPANY<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Keith A. Istre
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Keith A. Istre&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Treasurer and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(i)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Offer to Purchase dated March&nbsp;23, 2009.*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(1)(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Letter of Transmittal (including Guidelines for Certification of Taxpayer
Identification Number on Substitute <BR>
Form&nbsp;W-9).*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">None.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">None.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">None.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(a)(5)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated March&nbsp;23, 2009.*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(b)(1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Purchase Agreement, dated as of March&nbsp;20, 2009, by and among Lamar Media Corp. and the
initial purchasers named therein, relating to Lamar Media Corp.&#146;s 9 3/4% Senior Notes due
2014.*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(b)(2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indenture, dated as of March&nbsp;27, 2009, between Lamar Media, the Guarantors named therein and
The Bank of New York Mellon Trust Company, N.A., as Trustee relating to Lamar Media&#146;s 9<FONT style="font-size: 70%"><SUP>3</SUP></FONT>/<FONT style="font-size: 60%">4</FONT>%
Senior Notes due 2014. Previously filed as Exhibit&nbsp;4.1 to the Company&#146;s Current Report on
Form&nbsp;8-K (File No.&nbsp;0-30242) filed on March&nbsp;27, 2009, and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lamar 1996 Equity Incentive Plan, as amended, as adopted by the Board of Directors on
February&nbsp;23, 2006. Previously filed as Exhibit&nbsp;10.1 to the Company&#146;s Current Report on Form
8-K (File No.&nbsp;0-30242) filed on February&nbsp;28, 2006, and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement under the 1996 Equity Incentive Plan, as amended. Previously
filed as Exhibit&nbsp;10.14 to the Company&#146;s Annual Report on Form&nbsp;10-K for the year ended December
31, 2004 (File No.&nbsp;0-30242) filed on March&nbsp;10, 2005, and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Agreement. Previously filed as Exhibit&nbsp;10.16 of the Company&#146;s
Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2005 (File No.&nbsp;0-30242) filed on
March&nbsp;15, 2006, and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Agreement for Non-Employee directors. Previously filed as Exhibit
10.1 to the Company&#146;s Current Report on Form&nbsp;8-K (File No.&nbsp;0-30242) filed on May&nbsp;30, 2007 and
incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(5)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2000 Employee Stock Purchase Plan. Previously filed as Exhibit&nbsp;10(b) to the Company&#146;s
Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2006 (File No.&nbsp;0-30242) filed on
March&nbsp;1, 2007, and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(6)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lamar Advertising Company Non-Management Director Compensation Plan. Previously filed on
the Company&#146;s Current Report on Form&nbsp;8-K (File No.&nbsp;0-30242) filed on May&nbsp;30, 2007 and
incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(7)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Summary of Compensatory Arrangements, dated March&nbsp;4, 2009. Previously filed on the
Company&#146;s Current Report on Form&nbsp;8-K (File No.&nbsp;0-30242) filed on March&nbsp;6, 2009 and
incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(8)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indenture, dated as of June&nbsp;16, 2003, between the Company and The Bank of New York Trust
Company, N.A., successor to Wachovia Bank of Delaware, National Association, as Trustee.
Previously filed as Exhibit&nbsp;4.4 to the Company&#146;s Quarterly Report on Form&nbsp;10-Q for the
period ended June&nbsp;30, 2003 (File No.&nbsp;0-30242) filed on August&nbsp;13, 2003, and incorporated
herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(9)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Supplemental Indenture to the Indenture dated as of June&nbsp;16, 2003 between the Company
and The Bank of New York Trust Company, N.A., as Trustee, dated as of June&nbsp;16, 2003.
Previously filed as Exhibit&nbsp;4.5 to the Company&#146;s Quarterly Report on Form&nbsp;10-Q for the period
ended June&nbsp;30, 2003 (File No.&nbsp;0-30242) filed on August&nbsp;13, 2003 and incorporated herein by
reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(d)(10)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Supplemental Indenture to the Indenture dated as of June&nbsp;16, 2003 between the
Company and The Bank of New York Trust Company, N.A., as Trustee, dated as of July&nbsp;3, 2007.
Previously filed as Exhibit&nbsp;4.1 to the Company&#146;s Current Report on Form&nbsp;8-K (File No.&nbsp;0-30242)
filed on July&nbsp;9, 2007 and incorporated herein by reference.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(g)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">None.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(h)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">None.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
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    <TD width="96"></TD>
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<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed.</TD>
</TR>

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<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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