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On Oct. 6, Florida East Coast Industries Inc. announced Chief Financial Officer Richard G. Smith plans to leave the company in early 2004 for personal reasons.

Smith will continue to serve as CFO through year end, then assist his successor's transition. FECI has retained a national executive search firm to help locate potential candidates.

"Over the past three years, with Richard's help, we completed the company's spin-off from The St. Joe Co., created our own capital structure, invested $250 million to strengthen our core railway and realty operations, and realized $220 million from asset sales, mainly of non-core property," said FECI Chairman, President and Chief Executive Officer Robert Anestis in a prepared statement.

FECI owns and operates the 351-mile Florida East Coast Railway.