| 1133 D.C., L.L.C (L01000006671) | MGR |
| ARVIDA CAPITAL CONTRACTING, INC. (P00000022691) | DVT |
| C RIDGE ONE, L.L.C. (L01000016380) | MGR |
| GEORGIA TIMBER, LLC (L05000018310) | MGR |
| MILLENIA PARK ONE, L.L.C. (L02000008641) | MGR |
| RIVERTOWN REAL ESTATE COMPANY (P04000124740) | DV |
| SJA LICENSES ETC. COMPANY (P02000090531) | DVT |
| ST. JOE PROPERTY INSPECTION SERVICES, INC. (P98000053421) | DVP |
| WATERSOUND REAL ESTATE, INC. (P04000118011) | DV |
| WESTSIDE CORPORATE CENTER, L.L.C. (L00000011270) | MGR |
| ARVIDA REALTY COMPANY (P98000039242) | DVAT |
| BEACON SQUARE, L.L.C. (L00000004442) | MGR |
| BECKRICH OFFICE BUILDING II, L.L.C. (L02000026093) | MGR |
| CROOKED CREEK REAL ESTATE COMPANY (P03000060963) | DVT |
| GEORGIA WIND I, LLC (L03000034973) | MGR |
| GEORGIA WIND II, LLC (L03000043284) | MGR |
| PARK POINT, LLC (L04000079082) | MGR |
| SOUTHWOOD REAL ESTATE, INC. (P00000094622) | DV |
| ST. JOE COMMERCIAL, INC. (P99000070423) | DV |
| ST. JOE LAND COMPANY (P99000095643) | DVT |
| ST. JOE/CENTRAL FLORIDA MANAGEMENT, INC. (P97000098192) | DVT |
| THE PORT ST. JOE MARINA, INC. (P99000043773) | SVP |
| TOL GOLF WAY CENTER, L.L.C. (L00000014163) | MGR |
| VICTORIA PARK MORTGAGE, INC. (P00000094633) | DV |
| WATERSOUND VACATION RENTALS, INC. (P03000148563) | DV |
| 1750 K SPE COMPANY (P02000031934) | DV |
| 5660 NND, L.L.C. (L02000023834) | MGR |
| GEORGIA WIND III, LLC (L03000043285) | MGR |
| PSJ WATERFRONT, LLC (L03000052084) | MGR |
| SOUTHWOOD OFFICE I, L.L.C. (L01000008145) | MGR |
| ST. JOE HOSPITALITY DEVELOPMENT, INC. (P99000095635) | DV |
| ST. JOE NORTHEAST FLORIDA CONTRACTING, INC. (P00000022694) | SVP |
| ST. JOE TERMINAL COMPANY (L36914) | DP |
| ST. JOE TIMBERLAND COMPANY OF DELAWARE (F99000005754) | Director |
| ST. JOE/ALHAMBRA DEVELOPMENT COMPANY (P99000048584) | DV |
| ST. JOE/ALHAMBRA MANAGEMENT COMPANY (P99000048534) | DV |
| ST. JOE/CNL PLAZA, INC. (P97000102435) | DV |
| TNT DEERWOOD, L.L.C. (L01000005794) | MGR |
| WAKULLA SILVER SPRINGS COMPANY (P02000027304) | DV |
| 1750 K, L.L.C. (L01000019416) | MGR |
| BECKRICH CALL CENTER I, L.L.C. (L01000009596) | MGR |
| DEER POINT I & II, LLC (L04000079077) | MGR |
| OVERLOOK I & II, LLC (L04000037386) | MGR |
| PLUME STREET, LLC (L05000084626) | MGR |
| SOUTHHALL CENTER, L.L.C. (L01000001106) | MGR |
| SOUTHWOOD MORTGAGE, INC. (P00000094627) | DV |
| ST. JOE DEERWOOD PARK, L.L.C. (L00000015247) | MGR |
| ST. JOE DEVELOPMENT, INC. (P97000092907) | SVP |
| ST. JOE EMPLOYMENT, INC. (P98000030426) | DST |
| ST. JOE RESORTS & CLUBS, L.L.C. (L99000005626) | MGR |
| ST. JOE SANCTUARY REALTY, INC. (P98000051077) | DVP |
| ST. JOE/ARVIDA COMPANY, INC. (P97000092906) | SVPT |
| ST. JOE/CENTRAL FLORIDA DEVELOPMENT, INC. (P97000099007) | DVT |
| ST. JOE/WESTCHASE DEVELOPMENT COMPANY (P04000117036) | DV |
| VICTORIA PARK REAL ESTATE, INC. (P00000094637) | DV |
| WATERCOLOR REAL ESTATE, INC. (P04000118126) | DV |
| 2 STEPS AHEAD ASSOCIATES, INC. (P99000051728) | Director |
| APALACHICOLA NORTHERN RAILROAD COMPANY (001478) | DP |
| BECKRICH OFFICE BUILDING I, L.L.C. (L01000009598) | MGR |
| CCK REAL ESTATE, INC. (P98000086049) | DVT |
| CHRISMIM ACQUISITIONS COMPANY (P04000163028) | DV |
| HOMEWOOD SUITES EQUITY DEVELOPMENT CORPORATION (P23348) | AT |
| RIVERSIDE CORPORATE CENTER, L.L.C. (L01000016199) | MGR |
| SGW, INC. (P01000087949) | DV |
| ST. JOE COMMERCIAL PROPERTY SERVICES, INC. (P99000042858) | DSV |
| ST. JOE WESTFIELDS, INC. (P99000078598) | DVP |
| ST. JOE/LEGACY, INC. (P98000104948) | DVT |
| WATERCOLOR VACATION RENTALS, INC. (P00000038788) | DV |
