The St Joe Company

Supplemental Calculation of Selected Consolidated Financial Data

Exhibit 99.01

(Dollars in thousands)

The following table calculates EBITDA (Gross and Net):

		Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
		June 30, 2001			June 30, 2000			June 30, 2001			June 30, 2000
Income before income taxes and minority interest		$	39,052		$	36,492		$	56,857		$	75,290
Additions:
	Depreciation and amortization		7,017			14,449			13,812			28,436
	Interest expense		4,557			3,625			8,806			5,254
	Spin-off costs		1,000			10			1,015			10
	Loss on sales of nonoperating assets
Deductions:
	Gain on sales of nonoperating assets		12			(438	)		22			(526	)
	Gain on valuation of derivatives		(3,354	)		—			(5,051	)		—
EBITDA, Gross			48,284			54,138			75,461			108,464
Less minority interest percentages:
	Income before income taxes		48			(5,153	)		59			(12,751	)
	Depreciation and amortization		(29	)		(4,369	)		(55	)		(8,390	)
	Interest expense		(17	)		(439	)		(35	)		(502	)
	Gain on sales of nonoperating assets		—			191			—			239
EBITDA, Net		$	48,286		$	44,368		$	75,430		$	87,060

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