DAYTONA BEACH, FLORIDA - At its regular Board of Directors’ meeting on April 25, 2007, Consolidated-Tomoka Land Co. (AMEX: CTO) declared a dividend of $.09 per share payable on May 31, 2007, to shareholders of record on May 10, 2007.

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 25, 2007
Contact: Bruce W. Teeters, Sr. Vice President
Phone: (386) 274-2202
Facsimile: (386) 274-1223