Edgar Filing: LAMAR ADVERTISING CO/NEW

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0287

Expires:

January 31, 2005

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

REILLY KEVIN P JR

2. Issuer Name and Ticker or Trading Symbol
LAMAR ADVERTISING CO/NEW [LAMR]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President and CEO

(Last)

(First)

(Middle)

C/O LAMAR ADVERTISING COMPANY, 5551 CORPORATE BOULEVARD

3. Date of Earliest Transaction (Month/Day/Year)
12/27/2005

(Street)

BATON ROUGE, LA 70808

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	12/27/2005		S		400 ⁽¹⁾	D	$ 46.33 ⁽²⁾	29,052 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		900 ⁽¹⁾	D	$ 46.34 ⁽²⁾	28,152 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		987 ⁽¹⁾	D	$ 46.35 ⁽²⁾	27,165 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		501 ⁽¹⁾	D	$ 46.36 ⁽²⁾	26,664 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		500 ⁽¹⁾	D	$ 46.38 ⁽²⁾	26,164 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		500 ⁽¹⁾	D	$ 46.39 ⁽²⁾	25,664 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		600 ⁽¹⁾	D	$ 46.4 ⁽²⁾	25,064 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		400 ⁽¹⁾	D	$ 46.41 ⁽²⁾	24,664 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		900 ⁽¹⁾	D	$ 46.42 ⁽²⁾	23,764 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		379 ⁽¹⁾	D	$ 46.43 ⁽²⁾	23,385 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		200 ⁽¹⁾	D	$ 46.47 ⁽²⁾	23,185 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		427 ⁽¹⁾	D	$ 46.48 ⁽²⁾	22,758 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		300 ⁽¹⁾	D	$ 46.49 ⁽²⁾	22,458 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		500 ⁽¹⁾	D	$ 46.5 ⁽²⁾	21,958 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		400 ⁽¹⁾	D	$ 46.51 ⁽²⁾	21,558 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		400 ⁽¹⁾	D	$ 46.52 ⁽²⁾	21,158 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		302 ⁽¹⁾	D	$ 46.53 ⁽²⁾	20,856 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		488 ⁽¹⁾	D	$ 46.54 ⁽²⁾	20,368 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		626 ⁽¹⁾	D	$ 46.55 ⁽²⁾	19,742 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		918 ⁽¹⁾	D	$ 46.56 ⁽²⁾	18,824 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		600 ⁽¹⁾	D	$ 46.57 ⁽²⁾	18,224 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		400 ⁽¹⁾	D	$ 46.58 ⁽²⁾	17,824 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		126 ⁽¹⁾	D	$ 46.59 ⁽²⁾	17,698 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		400 ⁽¹⁾	D	$ 46.6 ⁽²⁾	17,298 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		600 ⁽¹⁾	D	$ 46.61 ⁽²⁾	16,698 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		1,044 ⁽¹⁾	D	$ 46.62 ⁽²⁾	15,654 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock	12/27/2005		S		600 ⁽¹⁾	D	$ 46.63 ⁽²⁾	15,054 ⁽³⁾	I	By Children and Trust ⁽⁴⁾ ⁽⁵⁾
Class A Common Stock								144,873	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
REILLY KEVIN P JR C/O LAMAR ADVERTISING COMPANY 5551 CORPORATE BOULEVARD BATON ROUGE, LA 70808	X		President and CEO

Signatures

James McIlwain, as attorney-in-fact		12/29/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Reflects the total number of shares aggregated and sold in block trades on behalf of the Reporting Person's children and the Kevin P. Reilly, Jr. Family Trust (the "Trust"), of which the Reporting Person is the trustee.
(2)	Shares held by the Reporting Person's two children and the Trust were aggregated and sold in block trades, and each received $46.3844 per share, which was the volume weighted average sales price, for each share sold on his, her or its behalf.
(3)	Reflects the aggregate holdings of the Reporting Person's children and the Trust together.
(4)	Shares held by the Reporting Person's two children.
(5)	Shares held by the Trust.

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