UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 14A

(Rule 14a-101)

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934

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The St. Joe Company

(Name of Registrant as Specified In Its Charter)

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*** Exercise Your Right to Vote *** Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to Be Held on May 17, 2011. THE ST. JOE COMPANY Meeting Information Meeting Type: Annual Meeting For holders as of: March 18, 2011 Date: May 17, 2011 Time: 10:30 AM EDT Location: WaterColor Inn 34 Goldenrod Circle Santa Rosa Beach, Florida 32459 THE ST. JOE COMPANY 133 SOUTH WATERBOUND PARKWAY WATERSOUND, FL 32413 ATTN: REECE B. ALFORD You are receiving this communication because you hold shares in the above named company. This is not a ballot. You cannot use this notice to vote these shares. This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. You may view the proxy materials online at www.proxyvote.com or easily request a paper copy (see reverse side). We encourage you to access and review all of the important information contained in the proxy materials before voting. M33999-P09988 See the reverse side of this notice to obtain proxy materials and voting instructions.

Before You Vote How to Access the Proxy Materials Proxy Materials Available to VIEW or RECEIVE: NOTICE AND PROXY STATEMENT ANNUAL REPORT M34000-P09988 How to View Online: Have the information that is printed in the box marked by the arrow . .XXXX XXXX XXXX (located on the following page) and visit: www.proxyvote.com. How to Request and Receive a PAPER or E-MAIL Copy: If you want to receive a paper or e-mail copy of these documents, you must request one. There is NO charge for requesting a copy. Please choose one of the following methods to make your request: 1) BY INTERNET: www.proxyvote.com 2) BY TELEPHONE: 1-800-579-1639 3) BY E-MAIL*: sendmaterial@proxyvote.com * If requesting materials by e-mail, please send a blank e-mail with the information that is printed in the box marked by the arrow . .XXXX XXXX XXXX (located on the following page) in the subject line. Requests, instructions and other inquiries sent to this e-mail address will NOT be forwarded to your investment advisor. Please make the request as instructed above on or before May 3, 2011 to facilitate timely delivery. How To Vote Please Choose One of the Following Voting Methods Vote In Person: Many shareholder meetings have attendance requirements including,but not limited to,the possession of an attendance ticket issued by the entity holding the meeting. Please check the meeting materials for any special requirements for meeting attendance. At the meeting, you will need to request a ballot to vote these shares. Vote By Internet: Tovote now by Internet,go to www.proxyvote.com. Have the information that is printed in the box marked by the arrow . .XXXX XXXX XXXX available and follow the instructions. Vote By Mail: You can vote by mail by requesting a paper copy of the materials, which will include a proxy card.

Voting Items The Board of Directors recommends you vote FOR the following proposals: 1. Election of Directors Nominees: 1a. Bruce R. Berkowitz 1b. Charles J. Crist, Jr. 1c. Hugh M. Durden 1d. Thomas A. Fanning 1e. Charles M. Fernandez 1f. Howard S. Frank 1g. Delores M. Kesler 1h. Thomas P. Murphy, Jr. The Board of Directors does not have a recommendation for voting on the following proposal: 2. Approve, on an advisory (non-binding) basis, our executive compensation programs and policies as described in the accompanying proxy statement. The Board of Directors recommends you vote 1 year on the following proposal: 3. Select, on an advisory (non-binding) basis, the frequency of shareholder votes on executive compensation. The Board of Directors recommends you vote FOR the following proposal: 4. Ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the 2011 fiscal year. NOTE: Such other business as may properly come before the meeting or any adjournment thereof. M34001-P09988

M34002-P09988