For the First Time: JOE Offers Prime Real Estate to the Public Via an Online Auction



    NEWPORT BEACH, Calif., March 12 /CNW/ - The St. Joe Company has selected
Internet real estate auction marketing firm, the LFC Group of Companies, to
auction more than 3,000 acres of its prime land in the Florida Panhandle. What
makes this opportunity so rare is that The St. Joe Company, one of Florida's
largest landowners and developers, has taken an innovative approach in
choosing to sell its land through an online auction. During the online auction
marketing campaign, buyers will have the opportunity to bid on one or all
three of the unique properties: Concord, Sabal Island and Brewton Lane, via
the Internet on LFC Online (http://www.LFC.com/706R4).
    
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20080312/LAW008)
    
    "When we decided to sell these three properties, we wanted to find a
marketing and sales method that would capture a broad national and
international market," says Clay Smallwood, President of Land Sales at The St.
Joe Company. "We felt that the inherent benefits of an online auction, and
LFC's auction marketing program in particular, would deliver the global
exposure we were looking for, and show the world how beautiful this region of
Florida is.  Each of these properties is truly spectacular in its own right.
They have been enhanced or entitled by JOE but are not strategic to our core
development business so we decided to make them available through this
innovative process.  It means that someone is going to be afforded a very big
opportunity."
    Concord is slightly over 3,000 acres of recreational property located in
Gadsden County, just 15 miles from downtown Tallahassee. The property's prime
location, development potential and unique features, such as its rolling
terrain, river frontage and abundant wildlife make it ideal for various uses.
    Located in Port St. Joe, Sabal Island is roughly a 56-acre parcel with
plans in place for an 18-lot residential subdivision on the upland area of the
property.  Included within this parcel lies a 1.3-acre isolated upland
area/island along beautiful St. Joseph's Bay. In addition to the home sites, a
kayak launch has been constructed on a deep-water canal that empties into St.
Joseph's Bay, and current permits call for the development of a pedestrian
boardwalk, from the upland area of the property to the small private island.
Its proximity to picturesque WindMark Beach and St. Joseph's Bay Aquatic
Preserve prevents future development around the property and preserves its
secluded feel. St. Joseph's Bay is known for its white sands, pristine waters
and some of the best fishing in Florida. The property is situated
approximately two hours from Tallahassee, an hour from Panama City and a
stone's throw from St. Joseph's Peninsula State Park Beach, rated as the No.1
beach in the U.S. by Dr. Stephen P. Leatherman, also known as "Dr. Beach."
    Located along Deer Point Lake in Bay County, Brewton Lane is
approximately 29.5 acres of residential property zoned for about 50-60 lots.
The lake, which covers about 5,000 acres, offers recreational activities like
swimming, fishing and boating. The property is conveniently located less than
15 miles from Panama City, near shopping, dining, schools and an international
airport, making it a perfect place for future high-end residential
development.
    "There has been so much buzz recently about how the weak U.S. dollar and
a buyer's real estate market are making land in Florida especially appealing
to international investors, particularly in Europe," notes Bill Lange,
president of the LFC Group of Companies. "And what better way for foreign
investors and even domestic buyers to purchase real estate than in an online
auction!"
    Interested buyers are encouraged to visit http://www.LFC.com/706R4 to
review important property materials, documents and auction information. The
bid deadline is Thursday, May 1, 2008.

    
    The LFC Group of Companies
    
    For more than 30 years, the LFC Group of Companies have served numerous
Fortune 500 companies, real estate developers, investors, financial
institutions and government agencies by auction marketing thousands of
commercial, industrial, land and residential properties with an aggregate
value well in excess of $5 billion. http://www.LFC.com

    
    The St. Joe Company
    
    The St. Joe Company, a publicly held company based in Jacksonville, is
one of Florida's largest real estate development companies.  They are
primarily engaged in real estate development and sales, with significant
interests in timber.  Their mission is to create places that inspire people
and make JOE's Florida an even better place to live, work and play. 
http://www.joe.com.

    
    Forward-Looking Statements
    
    Statements in this press release that are not historical facts are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, including statements about beliefs, plans,
goals, expectations and intentions. Forward-looking statements involve risk
and uncertainty, and there can be no assurance that the results described in
such statements will be realized. Such statements are based on current
expectations and The St. Joe Company undertakes no obligation to publicly
update or reissue any forward-looking statements. Risk factors that may cause
the actual results to differ are described in this press release and in
various documents The St. Joe Company has filed with the U.S. Securities and
Exchange Commission, including its Annual Report on Form 10-K for the year
ended December 31, 2007.
    "JOE," "St. Joe," and the "Taking Flight" design are service marks of The
St. Joe Company.

    
     Media Contacts:  Kelly Lovegrove
                      949.706.6113
                      klovegrove@lfc.com
    

    
                      Ashley Carvalho
                      949.706.6135
                      acarvalho@lfc.com
    





For further information:

For further information: Kelly Lovegrove, +1-949-706-6113,
klovegrove@lfc.com, or Ashley Carvalho, +1-949-706-6135, acarvalho@lfc.com,
both of LFC Group of Companies; Web Site: http://www.lfc.com

Organization Profile

LFC GROUP OF COMPANIES

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THE ST. JOE COMPANY

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