Arvida Realty Services, a Business Unit of The St. Joe Company - NYSE:JOE -, Enters Global Marketing Agreement with Bay Communities in Palm Coast, Florida

Business Wire,  May 30, 2000  

Tags: Palm Inc.

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Business Editors

CLEARWATER AND PALM COAST, Fla.-(BUSINESS WIRE)--May 30, 2000--Arvida Realty Services, a business unit of The St. Joe Company (NYSE:JOE), announces that it has entered into a global marketing program agreement with Bay Communities of Palm Coast to represent The Sanctuary and Surf Club II on an international level. The Sanctuary is a private luxury, island community featuring estate-sized home sites located directly on the Intracoastal Waterway. Surf Club II is an oceanfront luxury condominium community with world class amenities.

"Our objective is to complement Bay Communities existing marketing efforts by implementing value-added strategic global services in targeted international markets," explains Linda Burger, Executive Vice President Marketing and Communications and co-chair of the company's international division. "Through our international affiliations and alliance brokers, we are able to provide Bay Communities with an entirely different approach to reaching a global audience."

"We have the highest expectations for our new relationship with Arvida Realty Services," says Len Kelley, VP of Sales and Marketing of Bay Communities. "With Arvida's strong local representation and knowledge of the market combined with their years of building brand identity within the international real estate and business community, we feel confident that this new endeavor will give Bay Communities, the highest quality exposure at the global level. Our property deserves global recognition and we are glad that Arvida Realty Services is providing that value-added service to us."

Aida Turbow, Arvida Realty Services' Vice President of International Marketing and Business Development, is responsible for overseeing the program elements and for representing the property at selected international events such as the MIPIM Conference in Cannes, the European 2nd Home Show in the Netherlands, FIABCI World Congress in London and the Annual NAR Convention in San Francisco. In addition, she will coordinate Bay Communities' property promotions with Arvida Realty Services' network of international alliance brokers.

The Sanctuary is a 115-acre pristine island located in Palm Coast, with over two miles of waterfront property, featuring a gated and guarded entrance and access for the homeowner to build their private boat dock. Five of Florida's premier builders have been selected to build models.

Surf Club II is situated on 14 acres along the Atlantic Ocean with over 1200 feet of uncrowded beachfront. Surf Club II is a luxury condominium community that gives its buyers maintenance free, resort style living and first-class amenities.

The amenities at Surf Club II include a Mediterranean-style beach club with oceanfront pool and community room, spa and exercise room, lighted tennis courts, beautiful walking trail amidst the oak hammock canopy that leads to the Intracoastal Waterway complete with boat dock and boat house. Five championship golf courses designed by Arnold Palmer, Gary Player, Bill Amich and Jack Nicklaus are offered at Palm Coast Resort. If tennis is your game, the world class Players Club offers 18 perfectly maintained courts and all three Grand Slam surfaces. Ten courts are illuminated for play until 10:00 PM. Orlando and Jacksonville are just an hour away and Daytona Beach, 30 minutes away.

Headquartered in Clearwater, Arvida Realty Services is the state's largest independent real estate brokerage and the 5th largest in the nation with more than 100 offices located throughout the state and 3,100 licensed sales professionals and 700 employees affiliated with the company. It offers residential and commercial real estate sales, relocation services, asset and property management, title and mortgage services, annual and seasonal rentals, resort management and international real estate marketing.

The St. Joe Company, a publicly held company based in Jacksonville, is Florida's largest real estate company. It is engaged in community, commercial, industrial, hospitality, leisure, and resort development, along with residential and commercial real estate services. The company also has significant interests in timber.

For more information about Arvida Realty Services, see the company's web site at www.ArvidaRealty.com. More information about St. Joe can be found at the St. Joe web site, www.joe.com.

The above discussion contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Such statements are based on current expectations and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, the company's actual performance may differ materially from that indicated or suggested by any forward-looking statement contained herein.

"Arvida" is a registered trademark. "Arvida, a St. Joe Company" and the "taking flight" logo are service marks of The St. Joe Company.

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