Grant to Establish Accelerated Academic Program

SEAGROVE BEACH, FLORIDA- April 18, 2005- Today Carlene Anderson, Superintendent of Walton County School District; Jill White, Senior College Vice President Okaloosa-Walton College (OWC); and Jane McNabb, Executive Director of The St. Joe Community Foundation (STJCF) announced a cooperative initiative aimed at establishing an accelerated academic program within South Walton High School (SWHS).

The cooperative program, to begin in 2005, will expand access to accelerated study options for tenth, eleventh, and twelfth grade students and enhance academic rigor within the existing high school curriculum to ensure college-readiness and work preparedness.  As well, the program will provide an ongoing series of workshops that will be available to all Walton County faculty and staff, as well as a college success component available to students. STJCF is committing $300,000 in start-up support for the first three years of the program, the full funding of which is linked to benchmark standards for the program. As student participation grows and normal classroom efficiencies emerge, it’s anticipated that the program will become self-sustaining.

"Walton County School District is excited about this partnership,” said Anderson.  “This venture will enhance curricular offerings, increasing the opportunity for collegiate studies.  We welcome the community support and look forward to increased collaboration with Okaloosa-Walton College.  This partnership is just one step closer to making Walton County School District the best district in Florida."

“Clearly, one size no longer fits all in secondary education and this grant from The STJCF will allow us to bring new options to Walton County students,” said White. “This South Walton High School pilot program will capitalize on OWC’s long list of successful partnerships with Walton County and provide a number of accelerated studies opportunities for college-bound students.  We are delighted to be a part of this innovative partnership and look forward to the positive difference it will make for this county.”

“The single best predictor of college success is the quality and intensity of the student’s high school courses,” said McNabb. “With this grant, we hope that the nature of the curriculum in the pilot program with SWHS and OWC will make a huge difference for SWHS college-bound students.  I personally believe that the more demanding the pre-college, dual enrollment and advanced placement coursework is - - the better for all students.”

SWHS was selected by the District to pilot the advanced study option with a goal to ultimately expand the concept to other Walton County sites.  Key components of the pilot program:

* Eligible 10th, 11th, and 12th grade students will pursue a rigorous program of study which includes a full range of dual enrollment, advanced placement and honors courses

* College-level dual enrollment courses will be taught by OWC faculty members with master’s or doctoral degrees in the subject area

* Advanced placement classes will be taught by high school faculty with special training in the instruction of accelerated advanced placement material

* Student admission to the program will be linked to adherence to an honor code, a public service requirement of students, and a participation requirement of parents or guardians

County-wide, OWC will offer specific college success skills to high school classes and conduct workplace and off-site training and development activities designed to help teachers infuse greater academic rigor. Using summers and “mini-mesters”, the College and the District will jointly offer college success classes at Walton County high schools.

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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 $4,500,000 to the region; $2,000,000 of which was granted in 2004. Grants to date for 2005, exceed $650,000. 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