Press Release
February 21, 2001
CLEARWATER, FL -- Arvida Realty Services, a business unit of The St. Joe Company (NYSE:JOE), has announced a record-breaking
year with $8.2 billion in pended gross sales volume. This represents a 25.8% increase over 1999's volume of $6.5
billion. The number of gross pended transactions for 2000 totaled 38,804 as compared to 34,526 in 1999, a 12.4%
increase.
The average sales price of real property handled by the company statewide in 2000 was $212,000. The number of listings
secured was 24,370, a 5.6% increase over 1999's total of 23,068.
``Our company and the real estate industry, in general, enjoyed a phenomenal year for both residential and commercial
sales,'' explains Richard W. Cope, Chief Executive Office for Arvida Realty Services. ``We were especially fortunate
because of several factors affecting real estate sales here in Florida. A strong economy, low unemployment and
low interest rates obviously had an impact. Our company has been strengthening its overseas ties over the last
several years by forming strategic alliances in Europe and South America and our international clientele remains
a strong part of our business. In addition with people having more discretionary income to spend, we saw a booming
executive and luxury home market.''
``As Florida's acknowledged leader in the luxury home market, we reach an affluent clientele through a variety
of marketing resources including our Signature Homes & Estates magazine that is distributed to over 200,000
households three times a year,'' Cope added.
``We're already beginning to see indications of a slight downturn in the real estate market for 2001 as compared
to what we've experienced for the past several years. Arvida Realty Services will continue expanding its network
of offices throughout Florida, and we are introducing our exclusive Home-Link program which we believe will make
a difference to buyers and sellers when it comes to selecting a real estate company to represent their interests,''
he said.
Home-Link is a service that provides goods and services related to home ownership at significant savings to Arvida
Realty Services' clients. Its purpose is to take the pain and strain out of moving from one home to another, usually
the most difficult part of any real estate transaction.
Basically, anyone who buys or sells through Arvida Realty Services, which has exclusive rights to the program in
Florida, is eligible for free membership in Home-Link. They are enrolled by their sales agent and assigned a Personal
Move Coordinator (PMC) who remains their personal contact for any home-related purchases they may select before,
during or after moving. Electrical hook up, paint, wallpaper, new floors, decorating, lawn maintenance - whatever
product or service necessary can be accomplished conveniently and at reduced costs.
Arvida Realty Services is Florida's largest independent real estate brokerage and the 7th largest in the nation
with more than 100 offices located throughout the state and 3,300 licensed sales professionals and 750 employees
affiliated with the company. Headquartered in Clearwater, 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 operating
company. It is engaged in community, commercial, industrial, leisure and resort development, along with residential
and commercial real estate services. The company also has significant interests in timber.
More information about Arvida Realty Services can be found at www.arvidarealty.com.
More information about St. Joe can be found at www.joe.com.
This release contains ``forward-looking statements'' within the meaning of section 21E of the Securities and Exchange
Act of 1934, as amended. These forward-looking statements represent the Company's present expectations or beliefs
concerning future events. The Company cautions that such statements are necessarily based on certain assumptions,
which are subject to risks and uncertainties, including, but not limited to changes in general economic condition,
and changing competition and technology which could cause actual results to differ materially from those indicated
herein. Further information on these risk factors is included in the Company's filings with the Securities and
Exchange Commission.
(c)2000 The St. Joe Company. The ``Taking Flight'' logo is a registered service mark of The St. Joe Company. ``Arvida''
is a registered trademark. ``Arvida, a St. Joe Company'' is a service mark of The St. Joe Company.
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Contact:
Arvida Realty Services, Clearwater
Linda Burger, 727/723-6004
Email: lburger@arvidaservices.com