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                                                                EXHIBIT 99.1

                                       Darryl A. LeClair
                                       Echelon International Corporation
                                       President and Chief Executive Officer
                                       813-824-6767

                                       John W. Heilshorn, Jr./Danielle L. Reilly
                                       Lippert/Heilshorn & Assoc., Inc.
                                       212-838-3777
                                       john@lhai.com
                                       dani@lhai.com
                                       

                   ECHELON OFFERS ODD-LOT BUY-BACK PROGRAM FOR
                       STOCKHOLDERS WITH 10 SHARES OR LESS

ST. PETERSBURG, FLORIDA, NOVEMBER 12, 1997 -- ECHELON INTERNATIONAL CORPORATION
(NYSE: EIN) announced today a voluntary program to offer stockholders with 10 or
fewer shares of common stock (odd-lots) an opportunity to sell all their Echelon
shares.

         Echelon will purchase up to $2.5 million worth of its common stock from
participating stockholders. These stockholders will be paid the average of the
closing market value of EIN reported on the NYSE from November 12, 1997 through
December 15, 1997 (the "Program Period"). Echelon will use cash on hand to
purchase the shares, incurring no additional debt. If more than $2.5 million of
stock is submitted for sale, the excess shares will be sold on the open market
through a registered broker/dealer. Those stockholders will receive a
market-based weighted average price based upon the shares sold in the open
market. Participating stockholders will not incur any brokerage commissions,
although a nominal per share processing fee of $3.00 will be deducted from the
stockholders' proceeds of sale to defray the costs of administering this
program.

                                    - MORE -


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ECHELON INTERNATIONAL CORPORATION
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         According to Darryl A. LeClair, Chairman, President and CEO of Echelon,
"We value all of our stockholders and realize that the cost of brokerage
commissions may have deterred some individuals from selling a small amount of
shares. This voluntary program will provide these stockholders with a convenient
and inexpensive opportunity to sell their Echelon shares through the mail at a
small fee, while enabling the Company to save the annual administrative costs
associated with servicing odd-lot accounts." Many Echelon stockholders received
odd-lots in connection with the spin-off from Florida Progress Corporation
(NYSE: FPC) in December 1996.

         Shareholder Communications Corporation, a specialist in the design and
implementation of odd-lot programs, will administer and manage the program for
the Company and expects to mail program materials to stockholders by November
12, 1997 based on their holdings as of November 6, 1997. The program will run
through December 15, 1997, unless extended by the Company and will be conducted
entirely by mail. All sales will be made only through Shareholder
Communications.

         Echelon International Corporation is a real estate and financial
services company involved in development, ownership and management of commercial
and multifamily residential real estate. The company also manages a portfolio of
aircraft and real estate loans and aircraft leases. Echelon plans to gradually
withdraw from the aircraft and real estate lending business and focus on its
core real estate operations.

INQUIRIES REGARDING THE PROGRAM SHOULD BE DIRECTED TO MR. MICHAEL MACLEOD OF
SHAREHOLDER COMMUNICATIONS, AT 212/805-7000.

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