Consolidated Tomoka CEO to Retire

Consolidated-Tomoka Land Co. CTO, William H. McMunn, President and Chief Executive Officer of the Company, announced that he will be retiring effective December 31, 2011. William J. Voges, Chairman of the Board, said, "Bill McMunn has provided the leadership and long-term vision that has allowed the Company to grow and prosper during his ten years as our Chief Executive Officer. He also had the foresight to develop our long-term business plan that has allowed the Company to endure the current real estate downturn. Mr. McMunn will continue in a consulting capacity through 2012 to assure a smooth transition to new management. We wish Bill all the best and thank him for his years of service and dedication to Consolidated-Tomoka Land Co."