Company Press Release
June 27, 2000
SARASOTA, FL -- Arvida Realty Services, a business unit of The St. Joe Company (NYSE:JOE), has announced that it
has purchased certain assets of Ron Baldwin & Associates located at 525 Bay Isles Parkway #6 on Longboat Key.
The announcement was made by Myra Mueller, Regional President for Arvida Realty Services Pinellas, Sarasota and
Manatee Counties and principal owner, Ron Baldwin. Arvida Realty Services now operates 9 offices throughout the
greater Sarasota and Bradenton area.
``Ron Baldwin & Associates is a well-established Longboat Key broker and enjoys a solid reputation specializing
in luxury residential real estate,'' says Mueller. ``We wanted to expand our market presence on the Key and recognized
Ron's firm and his sales staff of 16 real estate professionals as an excellent way to strengthen Arvida Realty
Services' local area coverage.''
Baldwin, who has been involved in real estate sales since 1979, opened Ron Baldwin & Associates in October
1989. ``We decided to join Arvida Realty Services for a number of reasons including the company's reputation as
a quality, well-managed organization,'' says Baldwin. ``Ron Baldwin & Associates has always been committed
to the highest professional standards and level of customer service possible, and we proudly guard our valued reputation
that we have established. I have spent 21 years specializing in Longboat Key real estate and felt that it was time
to affiliate with a company that could help us broaden our opportunities to better serve our clients and enhance
our associates' marketing abilities. For us to grow, keep pace with technology and meet customer demands, we saw
a partnership with Arvida Realty Services as the ideal solution.''
The office, which is being expanded to 2,500 square feet, will be managed by Jo Carter, a long time Managing Broker
in Sarasota for Arvida Realty Services. In addition to the Longboat Key location, Carter is also responsible for
sales operations at the St. Armand's Circle office. Baldwin will remain with the office in a sales capacity.
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 company generated $6.5 billion in sales in 1999.
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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Contact:
Arvida Realty Services, Clearwater, Fla.
Linda Burger, EVP
Marketing & Communications
727/723-6004
lburger@arvidaservices.com