Atlantic Gulf Communities reports record land sales for 1995.

MIAMI--(BUSINESS WIRE)--Jan. 8, 1996--Atlantic Gulf Communities Corp. (NASDAQ:AGLF) announced Monday that its Atlantic Gulf Land division closed a record high $46 million of land sales in 1995.

Atlantic Gulf Communities' consolidated corporate revenues for 1995 were approximately $110 million.

Atlantic Gulf Land is the division responsible for disposing of the tract acreage and homesite inventory located in communities developed by Atlantic Gulf's predecessor company. These communities include Port St. Lucie, Port Malabar, Vero Beach Highlands and Sebastian Highlands on Florida's east coast, Port Charlotte/North Port on the west coast, Port LaBelle in Hendry County, Silver Springs Shores in Marion County, and Cumberland Cove in Tennessee.

"The record 1995 sales figures indicate we are on track to accomplish one of the goals of our business plan which is to obtain acceptable values in a timely manner for our predecessor properties," said Brian McLaughlin, president of Atlantic Gulf Land. "In addition to these sales, we are carrying a backlog of approximately $40 million in pending transactions into 1996, an increase of 300% over the 1995 backlog."

Atlantic Gulf Communities Corp., with assets of more than $345 million, is one of Florida's largest real estate developers. The company develops finished residential lots for builders in many of Florida's most active markets including South Florida, Tampa, Orlando and Jacksonville in addition to owning 43,000 acres in other parts of Florida, and 5,500 acres in the Cumberland Plateau area of Tennessee. Headquartered in Miami, the company is a proven leader in professional development services, and is known for its leadership role in environmental quality.

CONTACT: Atlantic Gulf Communities Corp., Miami

Harry Rose, 305/859-4376