EXHIBIT 99.1


            PATRIOT TRANSPORTATION HOLDING, INC./NEWS

Contact:    John E. Anderson
            Chief Executive Officer      904/396-5733, Ext. 3215
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PATRIOT TRANSPORTATION HOLDING, INC. ANNOUNCES CLOSING ON SALE OF
PROPERTY IN FLORIDA.

Jacksonville, Florida; March 31, 2004 -- Patriot Transportation
Holding, Inc. (NASDAQ-PATR) today announced that a subsidiary has
closed on the sale of a parcel of land and improvements
containing approximately 6,321 acres in Suwannee and Columbia
Counties, near Lake City, Florida.  A subsidiary of Florida Rock
Industries, Inc., a related party, purchased the property for
$13,000,000 in cash.  As previously announced the sales price was
approved by the Company's Audit Committee, composed of
independent Directors of the Company, after considering among
other factors, an independent appraisal, the current use of the
property and consultation with management.  The Company will
recognize a gain of approximately $5,519,000, net of income taxes
or $1.85 per diluted common share.  The Company expects to defer
approximately 87% of the gain for Federal Income Tax purposes
under Section 1031 of the Internal Revenue Code by redeploying a
large portion of the cash proceeds into two existing commercial
warehouse/office buildings totaling 303,000 square feet and an
adjacent 8.75-acre building lot in New Castle County, Delaware.
This property is currently under contract and is scheduled to
close on April 2, 2004.

Patriot Transportation Holding, Inc. is engaged in the
transportation and real estate businesses. The Company's
transportation business is conducted through two wholly owned
subsidiaries.  Florida Rock & Tank Lines, Inc. is a Southeastern
transportation company concentrating in the hauling by motor
carrier of  petroleum products and other liquid and dry bulk
commodities.  SunBelt Transport, Inc. serves the flatbed portion
of the trucking industry in the Southeast, Midwest 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.  The real estate group also owns real estate which
is leased under mining royalty agreements or held for investment.

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 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; driver availability and cost; regulations regarding
driver qualifications and hours of service; freight demand for
petroleum products and for building and construction materials in
the Company's markets; risk insurance markets; demand for
flexible warehouse/office facilities; interest rates; levels of
mining activity; pricing; energy costs and technological changes.
Additional information regarding these and other risk factors and
uncertainties may be found in the Company's filings with the
Securities and Exchange Commission.


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 1801 Art Museum Drive/Jacksonville, Florida 32207/(904) 396-5733