Exhibit (a)(5)(iii)
5551 Corporate Boulevard
Baton Rouge, LA 70808
Baton Rouge, LA 70808
Lamar Advertising Company Announces Completion of
Tender Offer For 2⅞% Convertible Notes Due 2010 — Series B
Tender Offer For 2⅞% Convertible Notes Due 2010 — Series B
Baton Rouge, LA — July 15, 2009 — Lamar Advertising Company (NASDAQ: LAMR), a leading owner and
operator of outdoor advertising and logo sign displays, today announced that it has completed its
tender offer to purchase for cash any and all of its outstanding 2⅞% Convertible Notes due 2010 —
Series B.
The tender offer for the notes expired at 12:00 midnight, New York City time, at the end of July
14, 2009. The depositary for the tender offer has advised Lamar that
an aggregate of $120,415,000 principal
amount, or approximately 90.2%, of the outstanding notes were validly tendered in the tender offer
and not validly withdrawn prior to the expiration of the tender offer. In accordance with the terms
of the tender offer, Lamar accepted for payment $120,415,000 principal amount of notes at a purchase price
of $977.50 per $1,000 principal amount of notes, plus, with respect to such notes, all accrued and
unpaid interest up to, but not including, the payment date for notes validly tendered and accepted
for payment, which is expected to be July 15, 2009.
Pursuant to the terms of the tender offer, notes not tendered, or tendered and validly withdrawn,
in the tender offer will remain outstanding, and the terms and conditions governing the notes,
including the covenants and other provisions contained in the indenture governing the notes, will
remain unchanged.
The dealer
managers for the tender offer were J.P. Morgan Securities Inc. and Wells
Fargo Securities, LLC (formerly known as Wachovia Capital
Markets, LLC). Global Bondholder Services Corporation acted as depository and information agent in
connection with the tender offer. Any questions regarding the tender offer should be directed to
Global Bondholder Services Corporation, whose address and telephone number are as follows:
Global Bondholder Services Corporation
65 Broadway — Suite 723
New York, New York 10006
65 Broadway — Suite 723
New York, New York 10006
Holders call toll-free: (866) 857-2200
Banks and Brokers call: (212) 430-3774
Fax: (212) 430-3775
Banks and Brokers call: (212) 430-3774
Fax: (212) 430-3775
This press release is for informational purposes only and shall not constitute an offer to purchase
nor a solicitation for acceptance of the tender offer described above. The tender offer was made
only pursuant to the Offer to Purchase, as amended, Letter of Transmittal and related materials
that Lamar filed with the SEC as exhibits to its Schedule TO, as amended. Holders of notes can
obtain a copy of the Offer to Purchase, Letter of Transmittal and other tender offer related
materials free of charge from the SEC’s website at www.sec.gov or from the information
agent, as described above.
About Lamar
Lamar Advertising Company is one of the largest outdoor advertising companies in the United States
based on number of displays and has operated under the Lamar name since 1902. As of June 1, 2009,
Lamar owned and operated approximately 154,000 billboard advertising displays in 44 states, Canada
and Puerto Rico, approximately