U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  FORM 10-K/A


                             AMENDMENT TO FORM 10-K
                                Filed Pursuant to
                       THE SECURITIES EXCHANGE ACT OF 1934

                           EASTGROUP PROPERTIES, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


                                 AMENDMENT NO. 1

     The undersigned  registrant  hereby amends the following  items,  financial
statements, exhibits or other portions of its Annual Report on Form 10-K for the
year ended December 31, 2002 as set forth in the pages attached hereto:

     EXHIBITS:

     Exhibit 23        Consent of KPMG (filed herewith)

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  amendment  to be signed on its behalf by the
undersigned, thereunto duly authorized.

Dated:  May 15, 2003
                                    EASTGROUP PROPERTIES, INC.



                                    By:  /s/ N. KEITH MCKEY
                                         N. Keith McKey
                                         Chief Financial Officer


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                      INDEPENDENT AUDITORS' CONSENT


The Board of Directors
EastGroup Properties, Inc.:


     We consent to  incorporation  by reference in the  registration  statements
(Nos. 333-58309 and 333-86957) on Form S-3 and the registration statements (Nos.
33-60909,  333-91405 and 333-51666) on Form S-8 of EastGroup Properties, Inc. of
our reports dated March 7, 2003, relating to the consolidated  balance sheets of
EastGroup  Properties,  Inc. and  subsidiaries as of December 31, 2002 and 2001,
and the related  consolidated  statements  of income,  changes in  stockholders'
equity  and cash  flows for each of the  years in the  three-year  period  ended
December  31,  2002,  and all related  schedules,  which  reports  appear in the
December 31, 2002 Annual Report on Form 10-K of EastGroup  Properties,  Inc. Our
report  refers to a change in the methods of  accounting  for the  impairment or
disposal of long-lived assets and stock-based compensation.



Jackson, Mississippi                     /s/ KPMG LLP
March 18, 2003



















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