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EXHIBIT 12.1
LAMAR ADVERTISING COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<Table>
<Caption>
SIX MONTHS
ENDED
YEARS ENDED DECEMBER 31, JUNE 30,
------------------------------------------------------- -------
1998 1999 2000 2001 2002 2003
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EARNINGS
Net earnings (loss) before cumulative effect of change (11,890) (43,768) (94,105) (108,634) (36,328) (22,794)
ADD:
income tax expense (benefit) (191) (9,712) (37,115) (45,674) (19,694) (12,457)
fixed charges 73,354 111,049 183,192 168,804 152,952 70,393
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Earnings (loss) as adjusted (a) 61,273 57,569 51,972 14,496 96,930 35,142
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FIXED CHARGES
Interest expense 60,008 89,619 147,607 126,861 107,272 46,347
Rents under leases representative of an interest factor (1/3) 12,981 21,065 35,220 41,578 45,315 23,864
Fixed charges as adjusted(b) 72,989 110,684 182,827 168,439 152,587 70,211
Preferred dividends 365 365 365 365 365 182
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Total fixed charges combined with preferred dividends (c) 73,354 111,049 183,192 168,804 152,952 70,393
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RATIO OF EARNINGS TO FIXED CHARGES
(A) DIVIDED BY (B) 0.839 0.520 0.284 0.086 0.635 0.501
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RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS (A) DIVIDED BY (C) 0.835 0.518 0.284 0.086 0.634 0.499
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</Table>