Daytona Beach, Florida – At its regular Board of Directors’ meeting on April 23, 2008, Consolidated-Tomoka Land Co. (AMEX: CTO) declared a dividend of $.10 per share payable on May 28, 2008, to shareholders of record on May 8, 2008.

Consolidated-Tomoka Land Co. is a Florida-based Company primarily engaged in converting Company owned agricultural lands into a portfolio of income properties strategically located throughout the Southeast, and development, management, and sale of targeted real estate properties. Visit our website at www.ctlc.com

Date: April 23, 2008
Contact: Bruce W. Teeters, Sr. Vice President
Phone: (386) 274-2202
Facsimile: (386) 274-1223