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ST JOE Co Director's Dealing 2008

May 8, 2008

31416_dirs_2008-05-08_2eb378df-a7e5-422c-a4f5-2867f94b033e.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ST JOE CO (JOE)
CIK: 0000745308
Period of Report: 2008-05-06

Reporting Person: REVELL WALTER L (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-05-06 Common Stock M 2916 $22.82 Acquired 14880 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2008-05-06 Stock Option $22.82 M 2916 Disposed 2008-05-12 Common Stock (2916) Direct

Footnotes

F1: The options vested in three equal annual installments commencing on May 12, 1999.