Press Release
November 3, 2000
CLEARWATER, FL -- Arvida Realty Services, a business unit of The St. Joe Company (NYSE:JOE), posted a 15.3 percent
increase in pending sales for third quarter 2000 with $1.9 billion in gross volume and 9,450 transactions compared
to the same quarter 1999. Gross pending sales volume year-to-date was $6.5 billion with 30,414 transactions, a
29.4 percent increase over the same period last year during which time the company registered $5.0 billion and
26,632 transactions.
The average sales price of real property handled by the company during third quarter was $208,000 as compared to
$193,000 for the same period last year. This represents a 7.3 percent increase.
``It has been a record nine months for Arvida Realty Services. In 1999, we posted $6.5 billion in sales for the
year. We've already met that figure and we still have three months to go in 2000,'' stated Richard W. Cope, Chief
Executive Officer. ``Our goal has been to expand our real estate services not only to new Florida markets but also
in those markets where we already have a strong presence. These new offices have played a significant role in helping
us reach these numbers this year.'' In the last 18 months, the company has acquired brokerage firms in Panama City,
Jacksonville, Plant City, Winter Haven, Jupiter, Juno Beach, Miami Beach, Weston, Fort Myers, Longboat Key and
Tallahassee. Arvida Realty Services now operates 107 offices statewide.
Headquartered in Clearwater, Arvida Realty Services is the state's largest independent real estate brokerage and
the 7th largest in the nation with more than 105 offices located throughout the state and 3,200 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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Contact:
Arvida Realty Services, Clearwater
Linda Burger, Exec. VP - Marketing & Communications
727/723-6004
LBurger@arvidaservices.com