The St. Joe Company Announces Marek Bakun as New Chief Financial Officer

  The St. Joe Company Announces Marek Bakun as New Chief Financial Officer

Business Wire

WATERSOUND, Fla. -- October 1, 2013

The St. Joe Company (NYSE:JOE) (“St. Joe” or the “Company”) announced today
that Marek Bakun is joining the Company as Chief Financial Officer (CFO)
effective October 7. Mr. Bakun is replacing Tom Hoyer who has held the
position since March 2012.

“St. Joe appreciates Tom’s accomplishments working with the leadership team to
better position the Company financially,” said Park Brady, CEO for The St. Joe
Company. “The addition of Marek, who brings extensive financial-management
experience in real estate development and homebuilding, will help us build on
the Company’s strong financial foundation.”

With responsibilities as the Chief Financial Officer for national and
international homebuilding companies, Mr. Bakun’s experience includes
financial reporting and compliance, cost and capital management,
consolidations and acquisitions, value generation as well as operational
efficiency. He earned a Bachelor of Science degree in Business Administration,
Accounting from the University of Central Florida. He is a Certified Public
Accountant and a licensed general contractor and real estate broker.

Mr. Bakun comes to St. Joe from Orleans Homebuilders, Inc., in Bensalem,
Penn., where he served as Chief Financial Officer and Treasurer since February
2011. Prior to that, he served as CFO and Treasurer for Mattamy Homes
Corporation with responsibility for financial controls in its five U.S.
markets.

He began his career as an auditor and joined Morrison Homes in 1999, holding
numerous positions. In August 2006 he was promoted to Vice President and Chief
Financial Officer. When Morrison Homes merged with Taylor Woodrow in 2007, Mr.
Bakun managed the financial integration of the two multi-billion dollar
companies and continued as CFO for the U.S. and Canadian operations until 2008
when he joined Mattamy Homes Corporation.

“I am excited to join the leadership team of The St. Joe Company,” said Marek
Bakun. “The strong financial foundation combined with valuable assets poise
the Company for a bright future.”

About The St. Joe Company

The St. Joe Company is a Florida-based real estate developer and manager. The
Company owns approximately 567,000 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. 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 March 1, 2013.

© 2013, The St. Joe Company. "St. Joe®", "JOE®", the "Taking Flight" Design®,
"St. Joe (and Taking Flight Design)®" are registered service marks of The St.
Joe Company.

Contact:

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