At its annual meeting of the Board of Directors held April 25, 2012, Consolidated-Tomoka Land Co. (NYSE Amex: CTO) declared a semi-annual dividend of $0.02 per share payable on May 25, 2012 to shareholders of record on May 10, 2012. Jeffry B. Fuqua, Chairman of the Board, stated: "The Board is proud that Consolidated-Tomoka Land Co. has paid a dividend annually for thirty-five straight years and continues this policy with today's announcement. The Board continues to review its dividend strategy and capital needs on a regular basis." About Consolidated-Tomoka Land Co. Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns over 11,000 acres in the Daytona Beach area as well as a portfolio of income properties in diversified markets throughout the United States. Visit our website at www.ctlc.com. "SAFE HARBOR" Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Forward-looking statements are made based upon management’s expectations and beliefs concerning future developments and their potential effect upon the Company. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management.