Press Release
October 4, 2000
TALLAHASSEE, FL -- The St. Joe Company (NYSE:JOE) announced it has sold the state of Florida 8,867 acres of land
designated as high priority for conservation for $16.3 million. Florida Governor Jeb Bush and the Cabinet facilitated
and approved the transaction. The Nature Conservancy's Florida chapter was instrumental in assisting with the sale.
The forestry tract protects an additional 10 miles of Wacissa River frontage and is located entirely within Jefferson
County. For years the land was leased to the state as part of the Aucilla Wildlife Management Area. The area ranked
seventh on the state's Conservation and Recreational Lands (CARL) priority list.
``The springs and rivers of the northwest Florida are the foundation for the unique biological and scenic character
of the region,'' said Bob Bendick, director of The Nature Conservancy's Florida Chapter. ``In part because of these
resources, this part of Florida has recently been identified as one of six important areas of biological diversity
in the United States. The Wacissa/Aucilla purchase secures forever one of the most important pieces of Florida's
natural heritage. We are grateful to St. Joe for caring for this land over these many years and to the state of
Florida for its foresight in making this purchase.''
``We are delighted that The Nature Conservancy and The St. Joe Company have completed the public acquisition of
these woodlands and swamps along the Upper Wacissa River,'' said Douglas Bailey of the Florida Fish and Wildlife
Conservation Commission. ``It is gratifying that these lands, which have been protected through the stewardship
of St. Joe, will be preserved and made available for public recreation in perpetuity.''
The acquisition was made with Preservation 2000 funding and protects the headwaters of the spring-fed Wacissa River.
This river flows for approximately 14 miles before joining the Aucilla River, which flows to the Gulf of Mexico.
``As the state's largest private landowner, we proudly accept the responsibility that comes with being a good steward
of the land. This is one of those special transactions where everyone benefits - Florida's citizens, the shareholders
of St. Joe and our collective grandchildren,'' said Peter S. Rummell, chairman and CEO of The St. Joe Company.
``At St. Joe, we're committed to preserving the best of Florida, through conservation efforts like this, and through
responsible development.''
``Completing the acquisition of the Wacissa River corridor is a great achievement,'' said Charlie Houder, deputy
executive director of the Suwannee River Management District. ``It is a high-quality resource and one that exemplifies
the close relationship between Florida's aquifer, streams and the Gulf of Mexico. There are also few opportunities
to provide permanent protection for the entire length of a river as has now been accomplished on the Wacissa.''
The project harbors an abundance of water birds and rare invertebrates, and boasts several unique geological features.
Numerous Native American sites are known within this significant CARL project, which is referred to as the Wacissa/Aucilla
River Sinks, and encompasses 50,568 acres. Of this acreage, 13,179 acres were acquired in the mid-1980s to protect
the lower reaches of the Wacissa River. The crystal clear Wacissa River, fed by 12 first-magnitude springs, is
almost entirely free of development and provides the public with numerous recreational opportunities, such as swimming,
canoeing, kayaking, fishing, hunting and nature study. The property will continue to be managed as part of the
Aucilla Wildlife Management Area.
The St. Joe Company, a publicly held company based in Jacksonville, is Florida's largest real estate operating
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. More
information about St. Joe can be found at our web site at www.joe.com
The Nature Conservancy is a nonprofit, conservation organization dedicated to preserving plants, animals and natural
communities that represent the diversity of life on Earth by protecting the lands and waters they need to survive.
The Conservancy's Florida Chapter has helped protect more than 911,000 acres throughout the state since 1961. Visit
The Nature Conservancy at www.tncflorida.org.
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Contact:
The St. Joe Company, Jacksonville, Fla.
Media Contact:
Jerry M. Ray, 904/858-2707
or
Investor Contact:
Steve Swartz, 904/858-5295
or
The Nature Conservancy:
Frances Nevill, 407/682-3664, ext. 129