EXHIBIT 99.1
                        Press Release

PATRIOT TRANSPORTATION HOLDING, INC. DISCONTINUES OPERATION OF
AGENT/OWNER-OPERATOR SUBSIDIARY

JACKSONVILLE, Fla.--(BUSINESS WIRE)-Aug. 10, 2001--Patriot
Transportation Holding, Inc. (Nasdaq:PATR - news) announced
today that it is discontinuing the operations of its third-party
agent/owner-operator subsidiary, Patriot Transportation, Inc.
The Company expects that its after-tax results for the fourth
quarter will be negatively impacted by approximately $2.1
million (which equates to $.66 per diluted share), including
restructuring charges relating to the shut down of this
subsidiary.

The Patriot Transportation, Inc. subsidiary will cease
operations as rapidly as practicable. For the nine months ending
June 30, 2001, this subsidiary had revenues of $18.3 million and
pre-tax losses of $1.5 million.  This subsidiary, a non-asset
based variable cost transportation company, provided
transportation services to shippers through independent sales
agents and independent contractors exclusively using tractors
belonging to the independent contractors and independent fleet
owners.

The Company attributed the decision to close this subsidiary to
declining margins from the continuing administrative costs that
would be required to support this start-up business, sharply
higher liability insurance costs and an adverse economic
climate.

"Unfortunately, in this difficult period for the transportation
business, we have not been able to obtain the operating margins
and mileage growth we had planned by entering into this line of
business. It is time for us to direct our resources into more
profitable areas of our business," stated John E. Anderson, the
Company's President and Chief Executive Officer.

Notwithstanding the planned closure of its Patriot
Transportation, Inc. subsidiary, the Company will continue to
conduct its transportation business through two other wholly
owned subsidiaries, Florida Rock & Tank Lines, Inc. and SunBelt
Transport, Inc.

Patriot Transportation Holding, Inc. is engaged in the
transportation and real estate businesses. Florida Rock & Tank
Lines, Inc. is a Southeastern transportation company
concentrating in the hauling by motor carrier of liquid and dry
bulk commodities. SunBelt Transport, Inc. serves the flatbed
portion of the trucking industry in the Southeast and Mid-
Atlantic States, hauling primarily construction materials. The
Company's real estate group, through subsidiaries, acquires,
constructs, leases, operates and manages land and buildings to
generate both current cash flows and long-term capital
appreciation.

Investors are cautioned that any statements in this press
release which relate to the future are, by their nature, subject
to risks and uncertainties that could cause actual results and


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events to differ materially from those indicated in such
forward-looking statements. These include general business
conditions, competitive factors, political, economic, regulatory
and climatic conditions, availability and terms of financing;
competition; freight demand, risk insurance markets; demand for
flexible warehouse office capabilities; national economic
picture; labor market for drivers; fuel costs; and inflation.
Additional information regarding these and other risk factors
and uncertainties may be found in the Company's filings with the
Securities and Exchange Commission.


Contact:
     Patriot Transportation Holding, Inc., Jacksonville
     John E. Anderson, 904/396-5733, Ext. 3215


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