The St. Joe Company Announces Louis Dubin Joins as Executive Vice President

The St. Joe Company (NYSE:JOE) (“St. Joe” or the “Company”) has announced that Louis Dubin has joined the Company as Executive Vice President effective June 11, 2012. Dubin is a fourth-generation real estate developer with a strong history of creating opportunistic real estate partnerships. He will report to St. Joe CEO Park Brady.

“Louis has unique and extensive expertise in identifying real estate opportunities and then structuring joint ventures or partnerships supported by strong financial packages,” says Park Brady, CEO for the Company. “His knowledge coupled with St. Joe’s assets is a strong combination and Louis will complement the existing executive team as we plan the future for St. Joe.”

Prior to joining the Company, Dubin served as President and CEO of LMD Worldwide, LLC, in New York City, an opportunistic real estate investment company focused on real estate development and the acquisition of distressed real estate projects. Dubin founded LMD Worldwide in 2008 and then merged the company personnel into Resolution Asset Management Company, a new subsidiary of Cantor Fitzgerald. During his tenure as President and CEO of Resolution Asset Management Company, Dubin closed $250 million in equity commitments from Cantor Fitzgerald and Starwood Capital. Dubin resumed operations of LMD Worldwide in the fall of 2011.

Dubin founded and served as President and CEO of The Athena Group, LLC in New York City from 1993 to 2008 during which he completed over 30 real estate developments and investments, including land development, resorts, residential for sale and rental, office, self-storage and master-planned communities. He managed all processes including acquisition analysis, development and construction, capital formation, due diligence, marketing and strategic planning. He developed firm-wide strategies and sourced new business opportunities. Athena U.S. partnerships invested approximately $500 million of equity in U.S. based real estate developments and acquisitions with a gross value of approximately $2 billion.

Dubin began his career with The Dubin Companies, a family-owned development company, in Bethesda, Maryland, as Principal and General Counsel in 1987. He subsequently held the position of Director of National Land Fund at Resolution Trust Corporation in Washington, DC, which had a total land asset portfolio of $40 billion.

Dubin earned a Bachelor’s Degree in Political Science in 1984 from Washington & Lee University and his law degree in 1987 from the Washington College of Law at American University. He has served on numerous professional and charitable organizations and received many awards for his leadership and work.

About St. Joe

The St. Joe Company is a Florida-based real estate developer and manager. The Company owns approximately 573,000 acres of land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. The majority of land not under development is used for the growing and selling of timber or is available for sale. The Company also owns various commercial, resort and club properties. More information about the Company can be found on its website at www.joe.com.

Forward-Looking Statements

Statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Company’s beliefs, plans, goals, expectations and intentions. Forward-looking statements involve risk and uncertainty, and there can be no assurance that the results described in such statements will be realized. Such statements are based on our current expectations and the company undertakes no obligation to publicly update or reissue any forward-looking statements. Risk factors that may cause the actual results to differ are described in this press release and in various documents have been filed with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 10-K filed with the Commission on February 27, 2012.

© 2012, The St. Joe Company. “St. Joe,” and the "Taking Flight" designs are service marks of The St. Joe Company.

Contacts:

St. Joe
Lori Elliott, 850-402-5138
Director, Marketing
lori.elliott@joe.com
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