Patriot Transportation Holding, Inc.

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PATRIOT TRANSPORTATION HOLDING, INC. ANNOUNCES ZONING DECISION IN DISTRICT OF COLUMBIA

Jacksonville, Florida: May 21, 2002 - Patriot Transportation Holding, Inc. (NASDQ-PATR) today announced that the District of Columbia Zoning Commission on May 13, 2002 voted 3-2 against extending until 2004 the Planned Unit Development ("PUD") which would have authorized up to 1.5 million square feet of commercial office space on the Company's 5.8 acre site along the Anacostia River. As a condition to the PUD the Company was required to proffer a nearby 2.1 acre site which would not have been developable by the Company under the PUD. The Company will ask the Commission to reconsider its decision.

There is also pending a proposed "overlay" of new zoning for a substantial area of the Southwest and Southeast quadrants of the District of Columbia west of the Anacostia River which includes the 5.8 acre site together with the nearby 2.1 acre site owned by the Company also on the Anacostia River. Under this proposed "overlay" the Company would be authorized to develop on the 2 sites approximately 1.38 million square feet, divided roughly in half between commercial office/retail space and residential (including hotel) space. The proposed "overlay" would have lower height restrictions than the PUD would have permitted.

In the meantime, the Company is completing a $4 million bulkhead project on the 5.8 acre site.

Patriot Transportation Holding, Inc. is engaged in the transportation and real estate businesses. Its primary operating transportation subsidiaries are Florida Rock & Tank Lines, Inc., a Southeastern transportation company concentrating in the hauling by motor carrier of liquid and dry bulk commodities; SunBelt Transport, Inc., which serves the flatbed portion of the Southeastern trucking industry and Patriot Transportation, Inc. which concentrates on the third-party agent/owner-operator segment of the industry.

The Company's real estate subsidiaries own revenue-producing and investment properties and are engaged in real estate development and property management activities.

Investors are cautioned that 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, climatic, pricing, energy costs and technological contingencies. Additional information regarding these and other risk factors and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.