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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

NOLEN KATHLEEN F 		2. Issuer Name and Ticker or Trading Symbol

CLECO CORP [ CNL ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Sr VP - CFO
(Last)          (First)          (Middle)

P.O. BOX 5000 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/28/2008
(Street)

PINEVILLE, LA 71361-5000
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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)
Code V Amount (A) or (D) Price
Common Stock, $1 par   5/28/2008     M    15667   A   (1) 54912.1701   (2) D    
Common Stock, $1 par   5/28/2008     S    15667   D $25.0598   39245.1701   D    
Common stock, $1 par   5/31/2008     D (3)    6151   D $0   33094.1701   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option   $19.205   5/28/2008     X        1    7/23/2004   7/23/2009   Common Stock, $1 par   1     (4) 15666   D    
Non-Qualified Stock Option   $20.355   5/28/2008     X        3333    7/23/2004   7/23/2009   Common Stock, $1 par   3333     (4) 12333   D    
Non-Qualified Stock Option   $21.58   5/28/2008     X        3333    7/23/2004   7/23/2009   Common Stock, $1 par   3333     (4) 9000   D    
Non-Qualified Stock Option   $22.25   5/28/2008     X        4000    7/27/2006   7/27/2011   Common Stock, $1 par   4000     (4) 5000   D    
Non-Qualified Stock Option   $24.25   5/28/2008     X        5000    4/17/2007   4/17/2012   Common Stock, $1 par   5000     (4) 0   D    

Explanation of Responses:
( 1)  1 shares @ $19.205; 3,333 shares @ $20.355; 3,333 shares @ $21.58; 4,000 shares @ $22.25; and 5,000 shares @ $24.25.
( 2)  Total includes 191.3317 shares acquired 2/15/08 and 190.7921 shares acquired 5/15/08 through the Company's dividend reinvestment plan and 126.22 shares acquired through the Company's 401(k) Savings and Investment Plan during the period 1/1/08 - 5/28/08.
( 3)  Forfeiture of performance shares awarded under the Company's 2000 Long-Term Incentive Compensation Plan as a result of the reporting person's separation from the Company on 5/31/08.
( 4)  Right to buy granted under the Company's 1990 and 2000 Long-Term Incentive Compensation Plans.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
NOLEN KATHLEEN F
P.O. BOX 5000
PINEVILLE, LA 71361-5000

Sr VP - CFO

Signatures
Judy P. Miller, Atty-in-Fact for Kathleen F. Nolen 5/29/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
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