Jacksonville, Florida - (February 14, 2005) The St. Joe Company (NYSE: JOE) announced today that 281 qualified prospective buyers from 12 states submitted reservations for a release of 37 home sites at RiverCamps on Crooked Creek. From these requests, reservations were accepted for all of the home sites with prices ranging from $148,500 to $849,500 and averaging $276,000. Five home sites were priced at more than $500,000. Reservation requests came from Florida, Georgia and Alabama and from as far away as Indiana. Additional home site releases are planned for later in the year. Permits allowing completion of the entire project have been received, and the pace of infrastructure development is accelerating with 190 home sites currently under construction. The RiverCamps ?entry barn? is scheduled to be completed early in the second quarter of 2005 and additional RiverCamps homes are planned to be completed in late 2005. Construction of the boat basin and storage facility, nature trails and viewing platforms is scheduled to start in the second quarter and construction of the RiverHouse, a compound of several community amenities, is set to start in the third quarter. RiverCamps on Crooked Creek, located in Western Bay County, is entitled for up to 450 home sites on approximately 1,500 acres of former timberland and features views of West Bay, the Intracoastal Waterway and Crooked Creek. Additional RiverCamps locations are actively being reviewed in other parts of Northwest Florida. ?The RiverCamps concept is designed to respond to the land,? said Peter S. Rummell, chairman and CEO of JOE. ?As a result, future RiverCamps will each have a distinct personality and appeal to a variety of consumer interests.? The RiverCamps Preview Center, located in Panama City Beach on US Highway 98 directly across from Pier Park, is open from 9:00 am to 5:00 pm, Monday through Saturday and 12:00 noon to 5:00 pm, Sunday. For a personal appointment and tour of RiverCamps on Crooked Creek, call 866.FL.RIVER (357.4837). More information can be found online at www.rivercamps.com.