Flagler Development Group Names Keith A. Tickell, Executive Vice President, and Underscores Commitment to North Florida

JACKSONVILLE, Fla., Oct. 3  /PRNewswire-FirstCall/ -- Flagler Development Group ("Flagler"), the commercial real estate development arm of Florida East Coast Industries, Inc. (NYSE:FLA) ("FECI"), promoted Keith A. Tickell to Executive Vice President. Keith now oversees the development operations of all Flagler office and industrial projects in the north, central and south Florida markets.  He also oversees the Company's business parks that encompass over 8.8 million square feet of office and industrial space.  Mr. Tickell's experience in commercial real estate development organizations includes entitlement, land planning and building design oversight.  This work is currently underway in seven office and industrial parks, as well as residential developments.

"Keith did an excellent job managing Flagler assets in North and Central Florida. In his new responsibility he will manage all of the Company's Florida assets out of Jacksonville where the company currently owns approximately 2,200 acres and 2.9 million square feet of office and industrial space," said Armando Codina, President and Chief Executive Officer of Flagler Development Group.

Mr. Tickell joined Flagler in May 2001 from The North Highland Company in Atlanta.  In his 24-year career he has gained significant experience in real estate, consulting and third-party logistics firms.  He earned his MBA from Emory University.  He is active in NAIOP and serves on the Board of Directors of the Jacksonville Chamber of Commerce.

Flagler Development Group (Flagler) owns, develops, leases and holds in joint ventures approximately 8.8 million square feet of Class-A office and industrial space, as well as an additional 753,000 square feet under construction. Flagler space consists of Class-A office and industrial properties, primarily in Jacksonville, Orlando, Ft. Lauderdale and Miami. In addition, Flagler provides construction, consulting, third party management (approximately 12 million square feet) and brokerage services and owns 846 acres of entitled land in Florida, which is available for development of up to an additional 16 million square feet. Flagler also owns approximately 3,158 acres of other Florida properties. For more information, visit the Company's website at http://www.flaglerdev.com/.

Florida East Coast Industries, Inc., (FECI) headquartered in St. Augustine, FL, conducts operations through Flagler Development Group (Flagler) and Florida East Coast Railway, L.L.C. (FECR). FECI conducts its real estate operations through Flagler which owns, develops, leases and holds in joint ventures approximately 8.8 million square feet of Class-A office and industrial space, as well as an additional 753,000 square feet under construction. Flagler space consists of Class-A office and industrial properties, primarily in Jacksonville, Orlando, Ft. Lauderdale and Miami. In addition, Flagler provides construction, consulting, third party brokerage and property management (approximately 12 million square feet) services and owns 846 acres of entitled land in Florida, which is available for development of up to an additional 16 million square feet. Flagler also owns approximately 3,158 acres of other Florida properties. Florida East Coast Railway, L.L.C. (FECR), a subsidiary of FECI, is a regional freight railroad that operates 351 miles of mainline track from Jacksonville to Miami and provides intermodal drayage services at terminals located in Atlanta, Jacksonville, Ft. Pierce and Miami. For more information, visit the Company's website at http://www.feci.com/.

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include the Company's present expectations or beliefs concerning future events. These statements may be identified by the use of words like "plan," "expect," "see," "aim," "believe," "project," "anticipate," "intend," "estimate," "will," "should," "could," "may," and other expressions that indicate future events and trends. The Company cautions that such statements are necessarily based on certain assumptions, which are subject to risks and uncertainties that could cause actual results to materially differ from those contained in these forward-looking statements. Important factors that could cause such differences include, but are not limited to, changes in the general and local real estate market or in general economic conditions, and other risks inherent in the real estate business. Further information on these and other risk factors is included in the Company's filings with Securities and Exchange Commission, including the Company's most recently filed Forms 10-K and 10-Q. The Company assumes no obligation to update the information contained in this news release, which speaks only as of its date. 

DATASOURCE: Florida East Coast Industries, Inc.



CONTACT:  Rosemary S. Jackson, Director, Marketing and Public Relations

of Flagler Development Company, [phone], or 



Web site:  http://www.feci.com/

http://www.flaglerdev.com/ 

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