The St. Joe Company (NYSE: JOE) and SecondSpace Enter Agreement to Bring Northwest Florida Lifestyle Real Estate to New Customers Around the Globe

JACKSONVILLE, Fla. and BELLEVUE, Wash., Sept. 19 /PRNewswire-FirstCall/ -- The St. Joe Company , Florida's largest private landowner and a leading developer of lifestyle communities in Northwest Florida, and SecondSpace, Inc., a leading web-services company that operates LandWatch.com and ResortScape.com, announced today that they have signed a multi-year strategic alliance agreement to create a state-of-the-art web-based marketing and sales platform for JOE's resort and rural retreat products.

Under terms of the agreement, SecondSpace will market JOE resort properties, second homes, home sites and rural recreational retreats on its ResortScape.com and LandWatch.com websites, enabling JOE to connect with new customers from across the U.S. and around the world. JOE will also leverage SecondSpace's patent-pending Lifestyle Search and Discovery platform to match diverse customers quickly and efficiently with lifestyle properties for sale that best meet their needs.

In addition, SecondSpace will power the next generation of http://www.joe.com/, an online destination that will bring to life everything that JOE has to offer new buyers and existing owners.

"Our relationship with SecondSpace will help us to reach highly qualified buyers with the right set of offerings, and build relationships with them from the moment they begin their property search all the way through the experience of living, playing and working in Florida," said Peter S. Rummell, Chairman and CEO of JOE. "In turn, as we learn more about our customers, we will gain valuable insights into how to further develop real estate products that inspire them."

Marketing of JOE Properties on ResortScape.com and LandWatch.com

JOE will market second and vacation homes and home sites, along with rural recreational retreats, across SecondSpace's network of lifestyle-oriented websites. ResortScape.com and LandWatch.com currently connect a growing customer base with a broad array of lifestyle properties, allowing JOE to leverage SecondSpace's web-based customer relationship marketing platform and integrated marketing campaigns to reach highly qualified and motivated property buyers.

Market Information, Customer Segmentation and Web-Based Analytics

Through proprietary data generated through SecondSpace's patent-pending web platform -- including lifestyle-based property listings, "semantic" Internet search and behavioral targeting -- JOE will have access to market information previously unavailable through traditional market research or from walk-in traffic.

These analytical tools will help JOE to optimize and enhance its product development, marketing and sales activities by using aggregated market data and detailed data specific to their own properties to gather insights into customer demand, property offerings and amenities, sales and marketing trends and campaign measurement.

As the first phase in the partnership, the companies today announced that hundreds of JOE properties are available for sale on SecondSpace's ResortScape.com and LandWatch.com websites.

Northwest Florida has Something for Everyone

"With sugar-white sand beaches, year-round sunshine and the finest amenities that Northwest Florida's Gulf Coast has to offer, JOE's properties epitomize the second home lifestyle," said Anil H.P. Pereira, president and CEO of SecondSpace. "JOE's Florida has something for everyone -- home sites to build your dream retirement home, cottages for a seaside family getaway, miles of beachfront, nature trails, award-winning golf courses, wide-open rural retreats and natural areas. We are thrilled with our new relationship with JOE to bring the beauty of nature in Northwest Florida to the broadest array of customers in all corners of the U.S. as well as overseas."

About JOE

The St. Joe Company , a publicly held company based in Jacksonville, is one of Florida's largest real estate development companies. JOE is primarily engaged in real estate development and sales, with significant interests in timber. Our mission is to create places that inspire people and make JOE's Florida an even better place to live, work and play. We're no ordinary JOE.

More information about JOE can be found at http://www.joe.com/. About SecondSpace, Inc.

SecondSpace, Inc. is a web platform and online services company developing a network of immersive, lifestyle-oriented web sites that enable people to make the most of the "second home" lifestyle. The company currently operates two consumer marketplaces -- ResortScape.com and LandWatch.com -- for people who own, or are in the market to own, vacation property, land and rural retreats. The sites are powered by SecondSpace's innovative, patent-pending Lifestyle Search & Discovery(TM) platform. SecondSpace is led by a team of Internet veterans with backgrounds from Amazon.com, American Express, Classmates.com, IMDb, Microsoft, VeriSign, Trendwest and other leading companies. The company is based in Bellevue, WA, and is backed by Ignition Partners, LLC.

More information about SecondSpace can be found at http://www.secondspace.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 our 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 we undertake 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 JOE has filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2006.

(C) 2007, The St. Joe Company and SecondSpace, Inc. "St. Joe," "JOE," and the "Taking Flight" design are service marks of The St. Joe Company.