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			Three Months			Nine Months			Nine Months
		Ended			Ended			Ended			Ended
		September 30, 2001			September 30, 2000			September 30, 2001			September 30, 2000
Income before income taxes and minority interest		$	25,953		$	39,360		$	82,809		$	114,650
Additions:
	Depreciation and amortization		7,878			18,659			21,690			47,095
	Interest expense		6,411			4,026			15,217			9,280
	Spin-off costs		535			57			1,551			68
	Loss on valuation of derivatives		1,555			—			—			—
Deductions:
	Gain on sales of nonoperating assets		(29	)		(1,301	)		(7	)		(1,826	)
	Gain on valuation of derivatives		—			—			(3,496	)		—
EBITDA, Gross			42,303			60,801			117,764			169,267
Less minority interest percentages:
	Income before income taxes		(71	)		(2,685	)		(12	)		(15,436	)
	Depreciation and amortization		(30	)		(5,888	)		(86	)		(14,278	)
	Interest expense		(8	)		(498	)		(43	)		(1,000	)
	Gain on sales of nonoperating assets		—			601			—			838
EBITDA, Net		$	42,194		$	52,331		$	117,623		$	139,391

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