Patriot Transportation Holding, Inc.

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PATRIOT TRANSPORTATION HOLDING, INC. ANNOUNCES A LOSS OF REVENUE WITH ONE OF THE TEN LARGEST CUSTOMERS OF ITS TRANSPORTATION SEGMENT.

Jacksonville, Florida: September 9, 2002 - Patriot Transportation Holding, Inc. (NASDQ-PATR)today reported that one of the ten largest customers of its transportation segment has indicated it is moving a majority of the business it is currently doing with the Company to other carriers. This decision was reached after a lengthy competitive bid process resulting in the business being awarded to the lowest bidder.

The Company estimates lost revenues from this customer to be approximately 6.2% of the transportation segment's revenues for the nine months ended June 30, 2002. The loss of this revenue will have an adverse effect on the Company's operating income, at least in the short term. The Company anticipates this lost revenue will be more than offset by revenues generated from the recent acquisition of the operating assets of Infinger Transportation, Inc. which was acquired by the Company on May 30, 2002.

While no assurances can be made, the Company believes that over time it will be able to minimize or offset the impact of the loss of this business.

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.