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PRESS RELEASE: WATERCOLOR

Wednesday, January 25, 2006

WaterColor: Destin, Florida

WaterColor offers a small coastal town environment in northwest Florida

WaterColor offers a small coastal town environment in northwest Florida

The Real Estate Home Guide, a leading internet real estate portal, announces its marketing association with WaterColor, a 499-acre Southern coastal resort and residential community in Northwest Florida, directly on the Gulf of Mexico. Upon completion, the community is planned to include 1,140 residences, a Beach Club, Tennis Club, Boat House, a 60-room inn, commercial space, boardwalks and a lakefront park. Nearly half the site is being devoted to open space and preservation areas.

WaterColor was awarded a "2004 Awards for Excellence" by the Urban Land Institute (ULI), the foremost leader in real estate development education and research. Recognized by the industry as its most prestigious competition, the Awards for Excellence were established to recognize innovations in real estate developments as well as the professionals with the creativity and vision to bring them to completion. Based on such criteria as financial viability and sensitivity to environmental and community issues, WaterColor was selected for its innovative design and use of the natural landscape, dedication to the preservation of the South Walton area’s pristine land, and its creating harmony between community and nature.

"We're honored that ULI has selected WaterColor as a recipient of its Awards for Excellence," said Peter S. Rummell, chairman and CEO of St. Joe, the community’s developer. "We take great pride in our ability to create places that are authentic, organic and original. WaterColor is emblematic of our placemaking approach. Now our goal is to take what we've learned at WaterColor and raise the bar. We're working hard to ensure the best is yet to come."

The St. Joe Company, a publicly-held company based in Jacksonville, is one of Florida's largest real estate operating companies actively involved in town, resort, commercial and industrial development, land sales and commercial real estate services. JOE's residential development arm has long been known as one of the southeast's premier community developers, creating and operating high-quality resort, residential and second-home communities. Through its nearly 50 year history, it has developed more than 60 planned communities, creating more than 40,000 new homes and 30 golf courses in Florida, Georgia, Texas, California, South Carolina, and North Carolina.

About The Real Estate Home Guide

Millions of web searches are done each month by potential home buyers seeking to purchase real estate. Currently, The Real Estate Home Guide’s family of real estate web portals receives over 400,000 unique visitors a month searching for luxury real estate developments throughout the Unites States. Qualified buyers enjoy ease of navigation, clarity of content and a thoroughly pleasant experience on its portals. Through its optimizing techniques, TREHG offers top visibility on the internet for developers of master planned communities. Visit them at on the web at www.therealestatehomeguide.com

Contact:

John W. Sweeney VP Sales and Marketing The Real Estate Home Guide 910-200-0757


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