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· September 17, 2003 ·


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· National Geographic Traveler and Yahoo! Travel Consumer Survey Names Northwest Florida's Gulf Coast Third-Best Beaches in the U.S.
Sandy Sanctuaries Are Excellent Complements to Arvida West Florida Communities and Golf Clubs at Camp Creek (Tom Fazio) and Proposed WaterSound (Davis Love III)

SEAGROVE BEACH, Fla. (September 16, 2003) Arvida, one of the nation's premier developers of master-planned residential and resort communities, today announces that the beaches in and around South Walton County on Northwest Florida's Gulf Coast have been named among the "Top 10 Sandy Spots" in the U.S. through a joint survey conducted by National Geographic Traveler and Yahoo! Travel.

This accolade comes less than two months after USA Today named the same beaches the third best beaches for families in the country, stating, Upscale inn rooms and cottages in beachfront communities such as WaterColor offer dune-bordered beaches, golf, tennis, sailing clinics and kids' programs.

The qualities of a beach that influenced the thousands of survey respondents' choices included:

Cleanliness (56%)
Scenery Panorama (55%)
Climate (42%)
Water Temperature (32%)
Romance (21%)

The WaterColor Inn and Resort, an award-winning Arvida property, is located on this extraordinary stretch of white sand beaches bordering the Gulf, as are some notable additions to the area's golf scene. Just six miles east of WaterColor is the Tom Fazio-designed Camp Creek Golf.

This distinction for Northwest Florida's beaches reinforces the Arvida decision to develop communities that offer a quality of life and natural amenities that families will be able to enjoy for generations," says Britt Greene, president of Arvida West Florida Operations.

Of the thousands of survey respondents, 25% said they had been to the beach 10 or more times in the past year.

Golfers, beach-lovers, families and homeowners are increasingly discovering Northwest Florida offers convenient access to beautiful spaces, amenity-rich communities and recreational opportunities," says Greene. The region has something for everyone, no matter what their age.

One such recreational venue is Camp Creek Golf Club, an extraordinary, 7,151-yard, 18-hole course for avid golfers. Designed by Tom Fazio, who has many courses rated among the top 100 in the U.S. by most national golf publications, Camp Creek offers an unparalleled golf experience and is an amenity for residents and guests of the Arvida communities of WaterColor and WaterSound Beach.

Also planned to complement Camp Creek is the proposed Davis Love III designed course to be located within the future WaterSound residential resort community at Lake Powell both of which are currently in the planning and permitting stages in South Walton County. Like Camp Creek, it is being designed to offer golf for avid players but will also feature more subtle nuances that embrace players of all levels.

"Davis' design approach is similar to the Arvida development approach, one that respects the natural surroundings," says Greene. "As a premier golfer who has played the world's best courses - including recently finishing fourth on the Royal St. Georges course at the British Open Davis' playing and aesthetic perspectives blend seamlessly into the stunning natural landscapes of South Walton County."

To learn more about WaterColor, Camp Creek, WaterSound Beach and other Arvida communities in Northwest Florida, please call 877/459-4537.


About Camp Creek
Camp Creek is the first of two championship courses being developed by Arvida, the community development arm of The St. Joe Company, in Panama City Beach, Fla. The 18-hole, par-72, Tom Fazio-designed championship course measures 7,151 yards and is accentuated by magnificent wetlands, woodlands, lakes, sand dunes and rolling contours. Camp Creek recently received certification in Environmental Planning from the Audubon Cooperative Sanctuary System.

Among the resources at Camp Creek are a driving range, short game area, practice putting green, pro shop, and snack bar. Future plans call for a second 18-hole golf course as well as a central clubhouse. Created for owners and guests at the nearby Arvida communities of WaterColor and WaterSound Beach, the course is currently welcoming daily fee play.

About WaterColor
WaterColor is a 499-acre Southern coastal resort and residential community in Northwest Florida, directly on the Gulf of Mexico, adjacent to the acclaimed Grayton Beach State Recreation Area along south Walton County's Scenic Highway 30A. It is being developed by Arvida, the community development arm of The St. Joe Company. At full build-out, the community is planned to include 1,140 residences; BeachClub; tennis club; BoatHouse; 60-room inn; commercial space; dune walkovers and boardwalks and a lakefront park. Nearly half the site is being devoted to open space and preservation areas.

Master-planned by Cooper, Robertson and Partners, a New York-based architectural firm, WaterColor won one of eight community design awards bestowed by the American Institute of Architects.

For more information, visit www.watercolorflorida.com.

The WaterColor Inn is a member of "Small Luxury Hotels and Resorts of the World"

About WaterSound
Arvida has predevelopment planning underway for a future phase of WaterSound on approximately 1,440 acres of timberland between U.S. 98 and the Intracoastal Waterway in Walton County, Florida. On March 31, 2003, the County approved a comprehensive plan amendment for the next phase of the community. Planned for approximately 1,000 units, a DRI is expected to be filed in the second quarter of 2003 for an approval process expected to continue from 12 to 18 months. Assuming that requisite approvals are obtained, sales are expected to begin in early 2004. Under the proposed master plan, this future development of WaterSound is being designed with amenities including golf, tennis and beach access.

About Arvida
Arvida is one of the Southeast's premiere developers of master-planned residential, resort and business communities. Since the company was founded more than 40 years ago by Arthur Vining Davis, it has completed more than 60 planned communities comprising more than 40,000 new homes and 30 golf courses in Florida, Georgia, Texas, California, South Carolina, and North Carolina. For more information on Arvida, visit www.arvida.com.


About St. Joe
St. Joe, a publicly held company based in Jacksonville, Florida, is one of the state's largest real estate operating companies. It is engaged in community, commercial, industrial, leisure and resort development, along with commercial real estate services. The company also has significant interests in timber. For more information about St. Joe, visit www.joe.com

Media Contact:
Buffalo Communications, 703.761.1444
Tom Williams
(ext 117)
twilliams@billycaspergolf.com

Dan Shepherd
(ext 115)
dshepherd@billycaspergolf.com
Produced by Judi Janofsky, Rich Steck and the Golf Press Association