Governor Barnes Announces Historic Purchase of Chickasawhatchee Swamp From The St. Joe Company.

Business Editors

ATLANTA--(BUSINESS WIRE)--Oct. 4, 2000

One of Georgia's largest wetlands, the Chickasawhatchee Swamp, now has received permanent protection thanks to a recent purchase by the Georgia Chapter of The Nature Conservancy. Governor Roy Barnes today joined Lieutenant Governor Mark Tavia C. McCucan, Vice-President and State Director of the Georgia Chapter, Lonice Barrett, Commissioner of the Department of Natural Resources, and Peter S. Rummell, Chairman and CEO of The St. Joe Company (NYSE:JOE), to announce a land acquisition agreement between The Nature Conservancy and the Department of Natural Resources for this area.

The Nature Conservancy recently purchased 15,105 acres of the swamp from The St. Joe Company for approximately $30 million and has agreed to transfer this land to the Georgia Department of Natural Resources (DNR), Wildlife Resources Division (WRD) to be used as a wildlife management area. The State of Georgia will be acquiring this land from The Nature Conservancy.

"Thanks to The Nature Conservancy, we have taken a huge step forward in the protection of an area that is vital to the future water needs of our state," said Governor Barnes. "There is still much work to be done to protect areas such as these that are so important to the Flint and Apalachicola rivers."

"Governor Barnes and Lt. Governor Taylor have provided outstanding leadership in facilitating this transaction. We are pleased, once again, to work with The Nature Conservancy to guarantee that future generations will be able to enjoy a major pristine wilderness area," said Peter Rummell of The St. Joe Company. "Working with The Nature Conservancy over the past few years, we've been able to demonstrate - again and again - that it is possible for a company to work in its shareholders' interests and the public interest."

Located near Albany, Ga., the Chickasawhatchee Swamp and surrounding uplands serve as a primary recharge for the Floridan aquifer that provides water to Florida and Georgia's Atlantic Coast. The Chickasawhatchee Swamp is one of the largest remaining freshwater swamps in the southeastern United States and is second in size only to the Okefenokee. The area is home to wood storks, gopher tortoises, bald eagles and as many as four federally endangered freshwater mussel species.

"The Chickasawhatchee Swamp is the largest land acquisition purchase in the history of the Georgia Chapter of The Nature Conservancy," said Director McCucan. "We are pleased to see this area permanently protected. Governor Barnes has been very successful in providing leadership and support to conservation organizations, and has played a key role in these negotiations."

The Wildlife Resource Division has leased part of the Chickasawhatchee Swamp from the St. Joe Company as a wildlife management area for many years. The purchase by The Nature Conservancy will include the area currently held under lease as well as an additional 5,000 acres.

"The St. Joe Company is a valuable partner and corporate citizen for Georgia. We see this purchase as a great first step, and hope to continue to work with St. Joe to conserve the entire Chickasawhatchee Swamp," said McCucan.

"In addition to providing permanent protection for our wildlife and water resources, this purchase also will ensure recreational opportunities for southwest Georgia, an area of the state with limited public land available for hunting, fishing, birdwatching and other activities," said Commissioner Barrett. "We are pleased that The Nature Conservancy has chosen to transfer the Chickasawhatchee Swamp to DNR for the benefit of present and future generations."