DAYTONA BEACH, Fla., June 10 /PRNewswire-FirstCall/ -- Consolidated-Tomoka Land Co. (NYSE AMEX: CTO) today announced that at the organizational meeting of the Board of Directors held today William J. Voges, President and Chief Executive Officer of The Root Organization, a private investment company located in Ormond Beach, Florida, was elected Chairman of the Board. The election of an independent chairman recognizes the vote of shareholders at the 2009 Annual Meeting. The following officers were also re-elected: William H. McMunn, President and Chief Executive Officer; Bruce W. Teeters, Senior Vice President-Finance and Treasurer; Robert F. Apgar, Senior Vice President-General Counsel and Assistant Corporate Secretary; Linda Crisp, Vice President and Corporate Secretary; and Gary Moothart, Vice President and Controller. Consolidated-Tomoka Land Co. is a Florida-based company primarily engaged in converting Company owned agricultural lands into a portfolio of net lease income properties strategically located in the Southeast, maximizing shareholder value through the efficient utilization of 1031 tax-deferred exchanges. The Company has low long-term debt and generates over $9 million in annual before tax cash flow from its real estate portfolio. The Company also engages in selective self-development of targeted income properties. The Company's adopted strategy is designed to provide the financial strength and cash flow to weather difficult real estate cycles. Visit our website at http://www.ctlc.com/. DATASOURCE: Consolidated-Tomoka Land Co. CONTACT: Bruce W. Teeters, Sr. Vice President, Consolidated-Tomoka Land Co., +1-386-274-2202, Fax: +1-386-274-1223 Web Site: http://www.ctlc.com/

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