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                                                                   Exhibit 99(e)


                        JAECKLE FLEISCHMANN & MUGEL, LLP
                               ATTORNEYS AT LAW

     FLEET BANK BUILDING TWELVE FOUNTAIN PLAZA BUFFALO, NEW YORK 14202-2292
                      TEL (716) 856-0600 FAX (716) 856-0432




                               September 25, 1998


EastGroup Properties, Inc.
300 One Jackson Place
188 East Capitol Street
Jackson, Mississippi   39201

Ladies and Gentlemen:

                       Re:   Registration Statement on Form S-3 under the
                             Securities Act of 1933, No. 333-58309,  (the
                             "Registration Statement"); Issuance and Sale of up
                             to 2,800,000 shares of Series B Cumulative
                             Convertible Preferred Stock, par value $0.0001 per
                             share ("Series B Preferred Stock")
                             --------------------------------------------------


                  As your counsel we have examined the Registration Statement
and Prospectus Supplement dated September 25, 1998 and we are familiar with the
documents referred to therein and incorporated therein by reference, as well as
EastGroup's Articles of Incorporation, as amended, and Bylaws, such records of
proceedings of EastGroup as we deemed material, and such other proceedings of
EastGroup as we deemed necessary for the purpose of this opinion.

                  We have examined the proceedings heretofore taken and we are
informed as to the procedures proposed to be followed by EastGroup in connection
with the authorization, issuance and sale of the shares of Series B Preferred
Stock. In our opinion the shares of Series B Preferred Stock to be issued by
EastGroup will be, when issued and paid for pursuant to the Registration
Statement and Prospectus Supplement dated September 25, 1998 and the exhibits
thereto, duly authorized for issuance by all necessary corporate action and,
upon the issuance thereof in accordance with their terms, the shares of Series B
Preferred Stock will be legally issued, fully paid and non-assessable.

                  We consent to the incorporation by reference of this opinion
letter as an exhibit to the Registration Statement.


                                   Very truly yours,

                                   JAECKLE FLEISCHMANN & MUGEL, LLP



                     Buffalo, New York - Rochester, New York