New Director Selected to Continue Foundation’s Philanthropic Mission

to Make Northwest Florida a Better Place to Call Home

SEAGROVE BEACH, FLORIDA- March 17, 2005- Today Lewis Howell, President of the Board of Trustees of The St. Joe Community Foundation (STJCF), announced that Jane D. McNabb will assume the role of STJCF Executive Director, effective April 1, 2005.

Jane brings more than 20 years of non-profit management experience to the position.  She is currently the Executive Vice President of the Florida Chamber Foundation, a public policy research foundation based in Tallahassee, Florida.  Jane directs the non –partisan research and K-12 education reform program, WorldClass Schools.  She has been responsible for publishing research studies on such statewide issues as transportation, public education reform and economic development.

“Jane not only brings an abundance of experience to our Foundation,” said Howell, “but also knowledge of the state and the region.  With Jane’s direction, the Foundation intends to initiate focused grants in areas of critical concern to the four counties we serve that will have substantial sustainable positive impacts on the region.”

McNabb holds a Master of Liberal Studies degree from Hollins University in Roanoke, Va., with a special focus on Southern regional folk art, and received her Bachelor of Science from SUNY, Albany, NY.  She is a native of Memphis, TN, but considers Northwest Florida her home.  McNabb and her husband, Roger McNabb, retired Virginia Tech University professor of zoology, will reside in Panama City Beach.

McNabb succeeds Pamela Selton who has served as the Foundation’s executive director during the Foundation’s formative first five years. During the span of her tenure, Selton helped to administer more than $4 million in regional grants for education, recreation, cultural arts, the environment, and the health of communities. Selton will remain with the Foundation through the month of April, and then she and her husband, Jake Ingram, a landscape architect, will move to Jacksonville, Florida.

“Without Pam’s dedication and hard work, the Foundation would not be as successful as it is today,” said Howell.  “She has been a thoughtful and compassionate ambassador of the Foundation’s mission, touching many lives, and earning the respect of those who know her.”

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About The St. Joe Community Foundation

The St. Joe Company (NYSE: JOE) created The St. Joe Community Foundation (STJCF) in 1999 to invest in community initiatives that pay long-term returns on the quality of life in Bay, Franklin, Gulf, and Walton counties.

Since its inception, STJCF has granted more than $4,000,000 to the region; $2,000,000 of which was granted in 2004.  STJCF’s unique funding structure is based on payments from JOE that are a percentage of the proceeds from new sales in specific JOE communities.  Payments continue each time the properties are resold through deed covenants requiring a transfer fee to be paid to STJCF each time a property is subsequently sold.  In this way, JOE, and the property owners who live in our neighborhoods are partnering with the community for the betterment of the entire region.

Focused primarily on education, regional health care delivery, art and culture, parks and recreation, and community spirit, STJCF investments are based on building civic infrastructure and providing on-going improvements in the region through grants and initiatives that promote teaching and learning and create healthier communities.  To learn more about STJCF log on to www.stjcf. com